ACCOUNTING AND RECONCILING CAPITALIZED PROPERTY RECORDS - 8650.4

(New and renumbered from 8650)

The capitalized section of the property register shall serve as the subsidiary ledger for the assets of the owner fund.

Reconciliation of the capital asset subsidiary ledger to the assets of a fund and capital expenditures should be performed monthly or at least quarterly in accordance with the requirements in SAM section 7924, Property Reconciliation.

Additions to capital assets should be recorded in the year of acquisition as capital asset additions. Transfers-In should be recorded as a beginning balance restatement. See SAM section 8630, Accounting for Property Acquisitions.