Edit an Asset

Some of the data fields that are available in the Display Items categories are automatically filled in based on the defaults of the asset classification assigned to the procurement item. You may need to modify or enter some data fields before the asset can be recorded.

After all of the following information is entered, click Save or Save/New to add a new asset record.

Show All

Lists all of the Display Items on the right side of the screen. Any combination of the Display Items may be selected/deselected. You can save your preference of the Display Items by clicking on the items you want and click on the Save Display Items Settings () icon.

General

1. In Item, select one of the procurement items that was previously set up as a fixed asset item. Only items flagged as fixed asset items appear in the drop-down list.
2. In Classification, select the asset class to which the asset is assigned. The asset class must be valid or you will receive a warning message. 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 this will not be an editable field.
3. In Asset Number, enter a unique identifier for the asset; this field is alpha-numeric so take this into consideration when numbering assets (i.e., zero fill short numbers).
4. In Original Funding Source, select the different funding sources (e.g., gifts or grants). These values are defined in Validation Set 74. Press CTRL and click the field to open the Validation Set Values List dialog box where you can add or edit a validation set.
5. In Acquisition Date enter or select the date the asset was acquired; this will also be the default capitalization date.
6. In Original Purchase Price enter the purchase price/value of the asset.
7. In Description, type the description of the asset; this is also the asset name.
8. In Quantity enter the quantity for the asset, which must be at least 1 for an asset to be recorded. When a pending asset is created from procurement or accounts payable and has a quantity greater than 1, it must be split prior to being recorded.
9. The Active check box indicates whether the asset is active. The default is selected. This check box may be changed in ADD mode. It also may be changed in EDIT mode if the asset has not been recorded. If Active is cleared, an Inactive Reason must be selected from the drop-down in the Detail section below or an error message will be displayed when saved.

Detail

1. In Reporting Category, choose between Capital and Controlled.

• Capital — Assets valued above the minimum threshold.
• Controlled — Assets valued below the minimum threshold.

2. In Accounting Category, select the classification of the assets within the asset class as General/Governmental Fixed Asset or Proprietary/Business Fixed Asset.
3. In Depreciation Status, select the classification of the assets within the asset class as depreciable or non-depreciable. The available options are Non-Depreciable, Depreciable, and Fully Depreciated. For example, Land is Non-Depreciable and Vehicles is Depreciable.
4. In Inactive Reason the inactive reason assigned to the asset is displayed. This field is hidden if the Active check box is selected. It is visible and enabled if the Active check box is not selected and the asset is inactive.

5. In Asset Special Use, select any of the following special uses that may be assigned to the asset.
   • None
   • Infrastructure (Component) – A component asset of a master asset. The system allows this component to have a separate depreciation schedule and act as a single asset while showing the relationship to the master asset.
   • Infrastructure (Master) – One large asset (i.e., Buildings, Bridges, etc.) that may have other components associated with it. The system allows this master to have a separate depreciation schedule and act as a single asset while showing a relationship to its component assets.
   • Transferable Asset – A component asset that can be transferred to other assets (i.e., a snow plow that can be transferred to different trucks). The system allows this to be tracked as a separate asset with its own depreciation schedule. The asset can only be associated with one asset at a time and the associations are tracked in the asset history.
   • Multi-Component Asset – Denotes a component of a larger asset (i.e., Conference Room Furniture: tables, chairs, etc.) Each item alone is not a fixed asset but the total of all the assets represent a fixed asset.
6. The Master Asset field only appears when Infrastructure (Component) is selected. Select the master infrastructure asset to which the current asset is assigned. You must have authority to the asset by asset classification, asset current responsible department, and asset current responsible G/L Organization Set.
7. The Parent Asset field only appears when Transferable is selected and denotes the current parent asset. Select the asset that is the parent of the current asset, if applicable.
8. In Method of Acquisition, select the method with which the asset was acquired. These values are defined in Validation Set 75. Press CTRL and click the field to open the Validation Set Values List dialog box where you can add or edit a validation set.
9. The Community Name field only appears if the Asset Management module is interfaced with the Parcel Management module; this pulls from the Communities set up in the Community Development application.
10. The Parcel field only appear if the Asset Management module is interfaced with the Parcel Management module; this pulls Parcels that have been setup in the Community Development application. This field displays the parcel number assigned to the asset (for assets categorized as Land). Click the Search () icon next to this field to open a pop-up which enables you to search for the record you want to display.
11. The Original Acreage field displays the original acreage assigned to the asset when acquired (for assets categorized as Land). This field is informational and used for land assets.

Capitalization and Depreciation

1. In Capitalization Date, enter or select the date used for the depreciation calculation. Assets will begin depreciation the month after the capitalization date. When recording assets there is an option to use the capitalization date as the transaction date. The date must be a valid date greater than or equal to the Acquisition Date.
2. In Asset Life in Months, enter the amount of time the asset will be depreciated. This field is required if the Depreciation Status field under Detail is set to Depreciable.
3. In Depreciation Method, select Straight Line if applicable. This field is required if the Depreciation Status field under Detail is set to Depreciable or Fully Depreciated.
4. In Estimated Salvage Value, enter the remaining value of the asset after depreciation. This is the estimated recovery/consideration when the asset is disposed of. The value must be greater than or equal to the depreciable base value [(Asset Original Cost +/- Adjustments) - (Depreciation +/- Depreciation Adjustments)].

Management

1. In Responsible Employee, select the employee responsible for maintaining the asset file. The employee must be valid and active.
2. In Assigned Employee, select the employee assigned to the physical asset. The employee must be valid and active.

If your organization has a license for the Human Resources module, click the Search () icon next to the Employee field to open a pop-up which enables you to search for the employee record you want to display. If not licensed for the Human Resources module, select the employee from the list.

Locations

1. In General, select the primary location of the asset (e.g., City Hall, Fire Station, Garage, etc.).
2. In Specific, select the secondary location of the asset (e.g., Row 1, Bin 2).

General Ledger

1. Select the Record in G/L check box if the asset is to be tracked in the general ledger. Controlled assets are typically not recorded in the general ledger (this check box has functionality only if the assets module is interfaced with the general ledger).
2. In G/L Organization Set, the asset will inherit the function of government that is assigned to the organization set you select.
3. In G/L Distribution Profile, select from the previously setup profiles (this field is active only when the asset is recorded in the G/L). The value cannot be changed if any open transactions exist for the asset.

Department

In Department, select the responsible department for the asset.

Insurance

In Policy, choose the insurance policy to which the asset is assigned.

Lease

In Lease Contract, select the lease contract associated with the asset.

Manufacturer

The Manufacturer section provides informational vendor and asset data.

1. In Manufacturer, select the manufacturer associated with the asset. This data is defined in Validation Set 76. Press CTRL and click the field to open the Validation Set Values List dialog box where you can add or edit a validation set. If a Manufacturer is selected then the following four fields become active.
2. In Model Number, select the model number of the asset.
3. In Serial Number, select the serial number of the asset.
4. In Model Year, select the model year of the asset.
5. In Warranty Expiration Date, select or enter the expiration date of the asset’s warranty.

Identification

The Identification section can be used to record asset information if asset tags are used by your municipality.

1. In Barcode Number, enter the barcode number assigned to the asset.
2. In Badge Number, enter the badge number assigned to the asset.
3. In Vehicle License Number, enter the license number assigned to the asset.
4. In Vehicle License Plate Type, select the vehicle license plate type assigned to the asset. It is enabled if a value is entered in the Vehicle License Number field. This data is defined in Validation Set 77. Press CTRL and click the field to open the Validation Set Values List dialog box where you can add or edit a validation set.
5. In Vehicle License Expiration Date, select or enter the expiration date of the vehicle license. It is enabled if a value is entered in the Vehicle License Number field.

Delete an Asset

To delete an asset record, click Delete.  

The Delete button is hidden or disabled if you do not have the appropriate security permissions. If you are authorized, when you click Delete you are prompted to confirm the deletion.

Click the Components workflow button to enter component information about the asset. This button only appears on the page if the asset has been classified as a component asset.

To add a component, follow the steps below:

1. Click Add Component.
2. In Quantity, Barcode Number, and Description enter the appropriate information as needed.
3. Click Save.

To delete a component, select the component to highlight it and click Remove Component.

Click the User-Defined Fields workflow button to enter and maintain information specific to the asset within your organization. This button only appears on the page if the asset classification has user-defined fields. See Add a User-Defined Field and Add or Edit an Asset Classification for more information on setting up user-defined fields for assets.

Click the Documents workflow button to view and/or add documents that are associated with the asset. The Documents page uses the Document Viewer feature.

Click the Notes workflow button to view and associate notes with an asset. The additional information can be sent to individuals or groups of users. The Notes page also makes use of the Document Viewer feature.

Click the Summary workflow button to see a summary of asset values, asset life and asset acreage. The Summary button is not available until the asset has been recorded.

Correcting assets can only be done after an asset has been recorded. This allows you to change allows authorized users to change the profile of an asset (Classification, Reporting Category, Accounting Category or Depreciation Method). Any changes made can be seen in the asset history.

If an asset was incorrectly coded and then corrected, all the transaction and status history remains associated with the incorrect values. As a result, certain reports (namely the Asset Schedule) show incorrect balances. Along the same lines, changing the Depreciation Method creates similar problems in that the method change could be back-dated to a point where calculated depreciation would not reconcile to the calculation method.

1. In Attribute, select between Classification, Reporting Category, or Accounting Category.
2. In Effective Date, select date the change will take effect; this date is also stored in the asset history.
3. In Classification/Reporting Category/Accounting Category/Depreciation Method, select the new classification, reporting category, accounting category or depreciation method of the asset (based on the attribute selected).
4. In Correction Reason, select the reason for the correction being made to the asset. This data is defined in Validation Set 184. Press CTRL and click the field to open the Validation Set Values List dialog box where you can add or edit a validation set.
5. In Comment, optionally add any comments regarding the correction being made to the asset. These comments display in the asset history; comments can be added to all changes except depreciation method. This field may contain up to 256 characters.
6. Click OK to save the changes and close the window.

Adjusting assets can only be done after an asset has been recorded. This allows you to adjust an asset’s value, the amount that has been depreciated, or the amount of acreage. When the value/depreciation changes are accepted, in addition to the appropriate transaction history to record the event, asset journal entries are created if the system is interfaced to the General Ledger and the asset is tracked in the G/L.

1. In Transaction Date, select the date on which the adjustment should occur. The default is the current system date. The date must be greater than or equal to the acquisition date of the asset. The date must also be greater than or equal to the capitalization date of the asset, if the capitalization date is not <blank>.
2. In Adjustment Reason, select the reason for the adjustment being made to the asset. This data is defined in Validation Set 184. Press CTRL and click the field to open the Validation Set Values List dialog box where you can add or edit a validation set.
3. In Asset Value, enter the new value (if needed) of the asset. The current asset value displays by default. The revised adjusted value you enter cannot create a situation where the revised Depreciation Base or revised Net Book Value is less than zero.
4. In Accumulated Depreciation, enter the new depreciation value (if needed). The current accumulated depreciation value displays by default. It is enabled if the asset is depreciable.
5. The Depreciate From Date field becomes active when the Accumulated Depreciation is adjusted. Select or enter the beginning date of the accumulated depreciation. The default is the Asset Capitalization Date. The date must be greater than or equal to the Acquisition Date of the asset and the Capitalization Date of the Asset. The must also be less than or equal to the Transaction Date.
6. The Depreciate Through Date field becomes active when the Accumulated Depreciation is adjusted. Select or enter the ending date of the accumulated depreciation. The default is the Asset Depreciated Through Date. The date must be greater than or equal to the Acquisition Date of the asset, the Capitalization Date of the asset, and the Depreciate From Date. The date must also be less than or equal to the Transaction Date.
7. The Months of Depreciation field becomes active when the Accumulated Depreciation is adjusted. Enter the revised number of months of depreciation recorded for the asset.
8. The Funding Source field becomes active when the asset value is adjusted. Select the funding source for the adjustment.
9. In Acreage, if the asset is a land asset and acreage is tracked, any additional (or loss) of acreage can be tracked in this field.
10. In Comments, enter text to describe the adjustment transaction. The comments display in the history portion of asset service.
11. Click Save to save the adjustments. The Adjust Asset Value Confirmation pop-up page displays allowing you to view the adjustment transaction(s), adjustment G/L distribution transactions, and any warning/error message(s) associated with the adjustment transaction. Upon reviewing the transaction information, you can click OK to accept the transaction (if no errors exist) or cancel the request (your only option if errors exist).

Transferring assets can only be done after the asset has been recorded. This allows the asset to be transferred to a new organization set. This more formal process is used if, as the result of the transfer, some transaction needs to be created to record the movement and, if interfaced with the general ledger make the necessary accounting entries. When the transfer is accepted (in addition to the recording of the appropriate transaction history to record the event) asset journal entries may be created if the system is interfaced to the General Ledger and the asset is tracked in the G/L.

1. In Effective Date, select or enter date the transfer takes place. The default is the current system date. The date must be greater than or equal to the Acquisition Date of the asset. The date must be greater than or equal to the Capitalization Date of the asset, if the Capitalization Date is not <blank>.
2. In G/L Organization, select a new G/L organization responsible for the asset. This must be different than the organization listed at the top of the pop-up window in the Currently Assigned To section. You must have Asset Management authority to the G/L Organization.
3. Select the Record G/L check box if future transactions (including this transfer) affecting the asset will be recorded in the general ledger. It is not displayed if the General Ledger check box is not selected on the Asset Management tab on the Company FM Settings page.
4. In G/L Distribution Profile, select the general ledger distribution profile of the asset, post transfer. It is enabled and required when the Record in G/L check box is selected.
5. In Accounting Category, select the accounting category (e.g., Governmental or Business) of the asset, post transfer. The available options are <blank>, General/Governmental Fixed Asset, or Proprietary/Business Type Asset.
6. In Depreciation Status, select the depreciation status of the asset, post transfer. The default is <blank>. Valid entries are Non-Depreciable, Depreciable, or Fully Depreciated.
7. Depreciation Method is enabled if the Depreciation Status selected is Depreciable or Fully Depreciated. Select the depreciation method for the asset.
8. In Department, select the department to which the asset is being transferred. You must have Asset Maintenance processing authority to the department.
9. In General Location, select the general location to which the asset is being transferred. The
10. In Specific Location, select the specific location to which the asset is being transferred.
11. In Responsible Employee, select the responsible employee to which the asset is being transferred. Click the Search () icon next to this field to open a pop-up which enables you to search for the record you want.
12. In Assigned to Employee, select the employee to which the asset will be assigned, post transfer. Click the Search () icon next to this field to open a pop-up which enables you to search for the record you want.
13. Click Save to determine what transactions are required. The Transfer Asset Confirmation pop-up window displays. You can view the transfer transaction(s), the G/L distribution associated to the transfer transaction and any warning/error message(s) associated with the transfer transaction. Click OK to confirm the transfer or click Cancel if errors exist.

Asset status changes can only be done after an asset has been recorded. This allows you to change an asset’s active status. All active recorded assets can be searched for on the Asset Service screen, but all inactive assets must be searched for through the Advanced Search. If the Asset module is interfaced with the general ledger then a journal entry will be created.

1. In Effective Date enter or select the date the status change takes place. The default is the current system date. The date must be greater than the existing Effective Change Date for the Asset.
2. Select the Active check box if the asset should be made active. Clear the check box if the asset should be made inactive.
3. The Inactive Reason b ox is enabled when the asset is going to be made inactive and the Active check box is not selected. Choose one of the following options: Retired/Scrapped, Lost/Stolen, Sold, Donated, Trade In, or Canceled.
4. In Consideration, type the selling price or other consideration for the asset. This is required when an inactive reason of Sold is selected.
5. In Comment, type text describing the status change transaction. These comments will show up in the history portion of asset service.
6. Click Save to view the status change transaction(s), status change G/L distribution transactions and any warning/error message(s) associated with the status change. Upon reviewing the status change information, you can click OK to accept the change (if no errors exist) or cancel the request (your only option if errors exist).

The Accounts Payable Transactions page allows you to view any accounts payable transactions associated with the asset or add any transactions that may have been missed. The invoice number is a link you can click to view the invoice inquiry screen if you have the appropriate security.

For those assets that were in pending mode via a purchase order or an accounts payable invoice, those items display automatically. If a user adds an open purchase order to an asset when the invoice is entered it automatically shows up. If a completed purchase order is added to the asset the invoice needs to be added as well.

You can change the search criteria at any time in the upper right hand corner of the screen. In order for the search criteria to display the results, you must click the Refresh button.

Add an Accounts Payable Transaction to an Asset

1. To add a new invoice to the asset click New.
2. Enter the search criteria for the invoice. The dates are required and at least one of the other criteria (Vendor, Item, or Item Description) is required.
3. Click Search. When the invoices matching the criteria are returned, click the plus sign ( + ) to expand the transaction information and see the items included on that invoice.
4. Select the check box next to the item(s) that are relevant to the asset. Click Accept to add the invoice to the asset. Now when users inquire on the invoice they will see that it is linked to the asset.

Remove an Accounts Payable Transaction from an Asset

If an invoice is associated with the asset it can also be removed. To do so from the accounts payable transaction screen select the invoice to be removed and click Remove.

Restore an Accounts Payable Transaction to an Asset

If an invoice has been mistakenly removed it can be restored to the asset. To do this, select the Include Removed check box in the search. Select the invoice in the list to be restored and click Restore.

On the Purchase Orders page, you can view any purchase order transactions associated with the asset or add any transactions that may have been missed. The purchase order number is a link and will display the purchase order inquiry screen if the user has the appropriate security.

For those assets that were in pending mode via a purchase order or an accounts payable invoice, those items display automatically. If a user adds an open purchase order to an asset when the invoice is entered it automatically shows up. If a completed purchase order is added to the asset the invoice needs to be added as well.

You can change the search criteria at any time in the upper right hand corner of the screen. In order for the search criteria to display the results, you must click the Refresh button.

Add a Purchase Order to an Asset

1. To add a new purchase order to the asset click New.
2. Enter the search criteria for the purchase order. The dates are required and at least one of the other criteria (Vendor, Purchase Order, Item or Item Description) is required.
3. Click Search. When the purchase orders matching the criteria are returned, click the plus sign ( + ) to see the items included on that purchase order.
4. Select the item(s) that are relevant to the asset. Click Accept to add the purchase order to the asset. Now when users inquire on the purchase order they will see that it is linked to the asset.

Remove a Purchase Order to from an Asset

If a purchase order is associated with the asset it can also be removed. To do so from the purchase order screen select the invoice to be removed and click Remove.

Restore a Purchase Order to an Asset

If a purchase order has been mistakenly removed it can be restored to the asset. To do this, select the Include Removed check box in the search. Select the purchase order to be restored and click Restore.

This tab allows users to view the number of work orders performed on an asset and increase the value of an asset based on those work orders.

Use the From Date/To Date fields at the upper right side of the screen to filter the date range of the work orders that will appear in the grid below. From Date defaults to one month previous to the To Date which defaults to the current system date. This shows the most recent month's worth of work orders performed on the asset.

A table on the upper right side of the screen displays a summary of the number and dollar amounts of open and closed work orders on the asset and their totals.

To enhance the value of an asset, click on at least one work order in the grid, then click the Enhance Asset Value button. The Adjust Asset Value pop-up page will be displayed.

The pop-up displayed is the same as the Adjust tab and all rules for the fields shown are the same.

Note: Your organization may want to add an additional value for Adjustment Reason to indicate that this adjustment was due to asset enhancement from work orders. The selections in the drop-down are controlled by Validation Set #184 Asset Adjustment Reason.

When all fields have been completed, click Save.

Click the Print workflow button to open the Asset Data Sheet pop-up window where you can select the asset information to print.