Add or Edit a G/L Distribution Profile

The G/L Distribution Profile page allows authorized users to add and maintain the G/L Distribution Profile codes assigned to asset classifications. These profiles determine which general ledger accounts are used when creating asset transactions (record, depreciate, adjust, transfer, and write off). When setting up an asset, the G/L distribution profile is assigned and the accounts defined are used for all journal entries pertaining to that asset. When the profiles are set up correctly, the journal entries are created automatically.

There should be one profile for each asset type (land, infrastructure, vehicles, etc.) per fund (governmental fixed asset and any proprietary funds). For example, if there are buildings in the general governmental fixed asset fund and in the Airport Fund (a proprietary fund) there will need to be two G/L distribution profiles for buildings.

Note: If while updating the G/L distribution profile data you need to clear your changes, click Reset at any time to return to the previous state the page was in before you save your changes.

To access the G/L Distribution Profile page, go to Maintenance > Financial Management > Asset Management > G/L Distribution Profiles.
On the G/L Distribution Profile List page, click New or the Code hyperlink in the list to open an existing profile record.
In Code, type a unique alpha-numeric identifier for the profile. This field is disabled in Edit mode.
In Description, type a textual description of the G/L distribution profile.
In the G/L Accounts listed on the page, define the accounts that will be used when users record, depreciate, adjust, transfer, or write off an asset.
There will be one depreciation expense account used in each fund. If depreciation must be broken out by function, a manual journal entry will have to be done at the end of the year.
If the Enable Auto-Assign G/L Distribution Profile Functionality check box has been selected on the Asset Management tab on the Company FM Settings page, the Auto-Assign G/L Distribution Info multi-select box will be displayed. Here, Classsifications and G/L Organizations can be pre-selected. Note that selections in these fields are not required but if the feature has been turned on and nothing has been set up, the system will default in blank. An error message will be displayed if an assignment already exists.
Click Save to save this profile or Save/New to create another profile.