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Asset Classes Category Codes are used to define the local Asset Class Codes. It is located under the Core menu.  The asset class codes are four digit codes which are used to define broad classes of fixed assets. The GAAP schedules require that each item be assigned to an asset class. 

The first two digits of the asset classes are defined by the State of Ohio. The following are the classes as defined by the State:

• 01 - Land and Improvements
• 02 - Buildings and Building Improvements
• 03 - Furniture, Fixtures, and Equipment
• 04 - Vehicles
• 05 - Infrastructure
• 06 - Books
• 08 - Construction in Progress

The second two digits are optional and may be used to further break down the asset classes if desired. An example might be to subdivide the "01 - Land and Improvements" class into two subclasses as follows:

• 0101 - Land
• 0102 - Improvements

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item categories. Codes are maintained under Core>Category Codes.  They are used to further subdivide asset classes into finer units. Although these codes are not required for GAAP reporting, they are extremely useful in generating reports and for updating replacement costs/insurable values.

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Create a Category Code

1. From the Core menu, select "Asset ClassesCategory Codes" to display the Asset Class Category Code grid.
2. Click 
3. Enter desired information into the asset class category code windowto add the asset class.   Click on 
   1. Type: Use drop-down to select a state defined class.
   2. Code: Will default to the Type selected followed by 00 (i.e. 0300).  You may optionally modify the second two digits to further break down the asset class (i.e. 0305).
   3. Description is the description entered to define the asset class.
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   1. Code is required and used to identify a category. This field allows for a maximum four numeric/alphanumeric characters.    
   2. Description is the description entered to identify the item category
   3. Insurance Class  is used for grouping items. Select from available options:
      1. Buildings
      2. Contents
      3. Excluded
      4. Inland_Marine
      5. Property_in_the_Open
      6. Vehicles
   4. Inflation Rate is the percentage used to increase or decrease replacement and/or insurable values. These rates may be obtained from an insurance company or appraisal firm.  These rates are for informational purposes only.  For example, in order to increase replacement costs on items for a specific category code, you may filter those item via the Items grid and extract the data into a spreadsheet.  Create a calculation in the spreadsheet using the inflation rate percentage stored on the category code to increase the existing replacement cost amounts for those items.  Import the updated replacement cost amounts for those existing items via System>Import.
   5. Asset Class is the Asset Class (as defined in Core>Asset Classes) that the item category will belong to. When adding a new item to the inventory, the asset class will automatically default to the class specified here.
   6. Useful Life is the expected useful life of the assets in a particular category. If entered, when adding a new item in Transactions>Items, this value will auto-fill in the life expectancy field.
4. Click Image Addedto add the category.   Click to cancel out without saving changes.

Search/View

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a Category Code

The Asset Classes Category Codes grid displays existing asset classescategories.  You can search for existing asset classes categories by clicking in the filter row in the grid columns and entering in the desired information. By default, the grid sorts by Code.  Click on Image Removed to generate a quick report numerically and then alphabetically. Click on  Image Addedto generate a quick extract (CSV or EXCEL format) based on what you filtered.  Click Click on any row of the search results to see a highlight view of the record.  Click the view icon  to view a particular asset classcategory.  From there, you have the option to edit it.

Edit

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NOTE: Only the description of the Asset Classes may be edited. 

a Category Code

To edit an asset classa category:

1. Query for desired asset classcategory
2. Click on the edit icon  

3. Make desired

   description changes

   changes 

   Note
   You cannot edit the 'Code' field.  Changes made to the Useful Life and Asset Class fields will not be reflected in existing items.

   
   

4. Click on  to post the changes to the system. Click on Close to close the window and return to the grid without saving changes.

Delete an

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Category Code

Delete may be used to delete an asset class a category that does not have any associated Inventory inventory items.  

1. Query the desired asset classcategory
2. Click on the Delete icon 
3. Confirm you want to delete by clicking on 

More Information on

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Category Codes

To mass update category codes on existing items, please refer to the System>Import chapter for more information.  The import process will allow you to update all items in the CSV file to a new category code.  The primary purpose of this is to allow you to change item categories that may have been assigned by an appraisal company to a more meaningful code for your district.