About Governmental and Proprietary Fund Types in Capital Assets

This topic describes the type of General Ledger transactions that are created when assets are accepted, depreciated, or disposed AND the Capital Assets configuration value, Generate General Ledger Transactions, is set to Yes.

For questions about which funds to use for capital assets, please refer to your accounting advisors. Audited financial statements may also be a resource. Your business requirements and practices determine this information. AptaFund may also be configured to not create general ledger transactions for tracking capital asset activity.

The system tracks asset activity using:

• either the capital assets tracking fund — for assets purchased using governmental fund types, or

• the original purchasing fund — for assets purchased using proprietary fund types.

Governmental fund type

When you use a governmental fund type — General, Special Revenue, Capital Projects, or Debt Service — to purchase an asset and it's accepted, AptaFund creates acquisition journal entries and books the entries through the capital assets tracking fund. This tracking fund provides an easy way to prepare for GASB 34 financial statements.

Proprietary fund type

When you use a proprietary fund type — Enterprise and Internal Services — the asset is recorded and the depreciation expense is booked in the fund used to purchase it.

Return to Capital Assets Overview