Asset Master Record 

Definition

A system object that represents a fixed asset (see Representing Fixed Assets).

Use

When you create an asset master record, follow the standard procedure, and, in addition:

...

·        Assign it to a tax office.

·        Classify it according to what sort of property it is.

·        Specify whether it is tax-exempt.

Note that the Property Tax Report does not cover group assets. It also only covers assets under construction once they have been capitalized.