The heading at the top of the screen displays Asset#, Description, Site, and Serial# in a single line.
Enter a unique asset # in the Asset # text field. The number must be numeric only and up to nine digits. NOTE:Duplicates are not allowed.
Select a site from the Site dropdown list.
o The dropdown lists all sites the user has FA rights to.
Enter a description in the Description text field.
Enter a building and room number in the Building and Room text fields, if desired.
Select a category from Category dropdown. The category default settings will be filled in automatically at the bottom of the form.
Enter a serial # and manufacturer in the Serial # and Manufacturer text fields, if desired.
Select or enter the date the Asset was acquired in the Date field. This is required for calculating depreciation.
Enter the purchase account code in the Account field, if available. Blanks are allowed and will automatically format with ending zeros and periods based on account structure.
Select the Acquisition method from the Method dropdown. It will default to Purchased if that description was created in Acquisition Method Setup.
Enter the number of units associated to the asset number in the Quantity text field. This field defaults to 1 but can be changed if you are entering multiple quantities of the same asset. Example:You can enter a group of chairs as one asset.
Select the asset’s condition from the Condition dropdown. It will default to New if that description was created in Asset Condition Setup.
Enter the cost per unit (up to two decimals) in the Unit Cost text field. If more than two decimal places are entered, it is rounded automatically. It will be multiplied by the Quantity to calculate the Acquisition Cost. This is required for calculating depreciation and Book Value.
Enter the invoice number in the Acq. Invoice # text field, if available.
Acquisition Cost is calculated from quantity and unit cost and cannot be edited here.
Enter the Purchase Order number in the PO # text field, if available.
Improvement Cost pulls from the Improvements tab. Improvements are added to the Acquisition Cost and used in calculating Depreciation and Book Value.
Enter the purchase vendor from the Vendor text field, if available.
Total Cost is automatically calculated from the Quantity, Unit Cost and Improvements fields and is output only.
Capitalized and Depreciable are based on the Category settings and are automatically generated but can be edited here.
Enter the expected salvage value of the asset in the Salvage Value text field, if applicable. This is subtracted from the Total Cost when calculating depreciation.
Depreciation YTD and Total Depreciation amounts are displayed from the Depreciation History tab.
o If depreciation date is in the current fiscal year, it is included in both YTD and Total. Prior year dates are only included in the Total.
Asset Life will display the default value from the Category settings but can be changed. This will affect the depreciation calculation.
Book Value is automatically calculated by subtracting Total Depreciation from Total Cost and displays in this text field.
Retirement Date automatically defaults to 06/30/99, which is a null date. To retire an asset, select the date it was retired to mark the asset as retired on the Asset tab and display in the Depreciation History report.
o NOTE:The Retirement Date does not factor in when creating the Acquisitions, Improvements, Transfer and Changes reports as they do not distinguish between Active and Retired assets; they use the date entered when creating the report and include all assets that meet the reports selection criteria.
When the asset is retired, select the disposal method that applies from the Disposal Method dropdown list. This does not affect the retirement status.