MANAGE ASSET DESCRIPTION INFORMATION

Use this alternative screen to edit, enter additional information for, or view descriptive data from the descriptive fields of an established Asset Master record. This screen is available only for existing Asset Master records.

Location

With this screen option, users do not automatically have access to data fields in other Asset Master subtasks; such access rights must be granted by the system administrator for each subtask on a screen-by-screen basis.

You can enter, edit, and view descriptive data for an Asset Master record by accessing the Manage Asset Master Information screen, which automatically grants access to all the available tabs and subtasks. An alternate access route to Asset Master subtasks gives you more flexibility when screen security options are set up for users with different access needs.

• If screen rights that set up for you allow access to the Manage Asset Master Information screen, all the screen's tabs and subtasks are automatically accessible to you.

• If you do not have access rights to the Manage Asset Master Information screen, the system administrator can alternately grant or deny rights using the direct menu option (via the Asset Master Records menu) on a screen-by-screen basis. In this manner, each user can access only the permissible tabs or subtasks in an Asset Master record.

When you first bring up this screen, a screen prompts you to enter a search criteria.

Although the data displays in columnar form in the table window on this screen, data entry functionality and data rules for each column are identical to those for each corresponding field on the Manage Asset Master Information screen, regardless of which entry screen methodology you establish for each user. You can also use the Form view option for this screen.

If you use the direct menu option to access data from the Manage Asset Master Information screen, data from the Notes subtask displays in the Asset Notes column of this table window and is not available as a specific menu selection.

You cannot use this screen to add new asset records. You can enter additional optional data, change existing data, or delete existing data within the system rules already established for an Asset Master record that was originally added using the Manage Asset Master Information screen and its subtasks.

The optional Asset Template feature, by which you can set up and import standard default data for property that shares common characteristics, is not operational on this screen.

On this screen, unlike maintenance table windows throughout Costpoint, the line functions in the menu bar (Execute, New Record, Clone Record, Delete and Undelete) are disabled.

New Asset Master records can be added only by using the Manage Asset Master Information screen and its subtasks. Note that some system-required data fields in an Asset Master record display default values supplied by the system as shown on the following table.

You can edit the initial defaults supplied by the system as desired during initialization using the Manage Asset Master Information screen and its subtasks.

Once an Asset Master record has been initialized, in many cases you can edit the Record Status, Depr Status, and Depr Based On system default columns on this screen if needed. In some cases, however, edits to a column on this screen will require data entry on another Asset Master screen to which you may not have been granted access. For example, if an asset is currently non-depreciable, although you can change the Depr Status column from Non-Depreciable to Depreciable on this screen, the system will also require data entry in the Depr Method Code, Depr Expense Acct Alloc Code and Accum Depr Acct Code fields (on the Manage Asset Account Information and Manage Asset General Ledger Book Information screens) before the change to the Depr Status column on this screen can be saved.

The following additional fields are required for data entry before an Asset Master record can be added using the Manage Asset Master Information screen and its subtasks.

You should always use caution in the timing of your edits, however, because changes can affect the calculation of depreciation as well as the types of records included in system reports.

Table Window

Asset Number

This non-editable column displays the system-required asset number assigned to this record when the asset was saved on the Manage Asset Master Information screen.

Please refer to the documentation for the Asset No field on the Manage Asset Master Information screen for additional information.

Item Number

This non-editable column displays the system-required item number assigned to this record when the asset was saved on the Manage Asset Master Information screen.

Please refer to the documentation for the Item No field on the Manage Asset Master Information screen for additional information.

Record Status

This column displays the system-required record status assigned to this record when the asset was saved on the Manage Asset Master Information screen. The value displayed in this column may have been edited on the Manage Asset Master Information screen or on this screen.

The options available for this required column are Active, Inactive, or Disposal. The system default is Active. A record must be Active to be eligible for depreciation calculations.

If you specify that a record is Inactive, the system will skip over the record for depreciation calculations and for reports that do not specify the inclusion of inactive records. Rendering a record Inactive provides an alternative to deleting the record, because you can retain the record for audit purposes and exclude it from reports when you are reconciling your asset record account totals to your General Ledger balances. When you save an inactive record, the system validates that both the current period depreciation and the amount posted values are equal to zero. If either amount is greater than zero (indicating that depreciation was entered or computed for the asset in the current period and/or that there is unposted depreciation), you will not be able to give the record inactive status. Note that you cannot delete an Asset Master record for which a transaction has been posted to the General Ledger. In this circumstance, you can change the record status to Inactive to ensure that it will be retained for audit purposes and exclude it from reports when you are reconciling your asset account totals to your General Ledger balances.

When a disposal for an asset record is posted to the General Ledger, the system changes the status for this record to Disposal. A record with a Disposal status will be skipped for depreciation calculations and for reports that do not specify the inclusion of disposal records. (If a record has a Disposal status, it reflects in the Record Status group box on the Manage Asset Master Information screen and the Record Status column on this screen will display Disposal as well.)

Although it should rarely be necessary, you can set up historical asset record that has been disposed of with a Disposal status, if desired. If you enter historical data on the Disp Info tab of the Manage Asset Master Information screen, you must also assign a Disposal status to the record to successfully save it.

When you first manually add historical record with a Disposal status, you can edit all fields in the Asset Master record as needed before saving the record for the first time. If the saved Disposal record is accessed again, however, the selection options in the Record Status, Depr Status, and Depr Based On columns are disabled. In addition, edits to columns on the Manage Asset Cost Information, Manage Asset Account Information, and Manage Asset Other Books Information screens cannot be saved.

You can enter original data on the Manage Asset Other Books Information screen for an Asset Master record with a Disposal status only when no data has previously been entered and saved. If the Manage Asset Other Books Information screen already contains saved data, you cannot edit it if the status is changed to Disposal.

If the Disposal Entry Type column displays MANUAL on the Manage Asset Disposal Information screen, you can change data for an Asset Master record with a Disposal status. If the Disposal Entry Type column displays SYSTEM, you cannot change data for an Asset Master record with a Disposal status.

If you have designated a Disposal status and have also entered manual data by mistake on the Manage Asset Disposal Information screen, you can change the status back to Active if you first delete all manually entered data from the Manage Asset Disposal Information screen.

If an entry already exists on the Manage Disposal Transactions screen for this asset record, you cannot change the status to Disposal. In this circumstance, if you need to assign a Disposal status to a record, first delete the entry from the Manage Disposal Transactions screen. To preserve the audit trail, you cannot edit this column after a disposal is posted or manually entered.

Template No

This non-editable column displays the latest template number used, if applicable, to import data from the template to the asset record. Please refer to the documentation for the Template No field on the Manage Asset Master Information screen for additional information.

Template Rev No

This non-editable column displays the latest optional revision number used, if applicable, to import the data from the template to the asset record. Please refer to the documentation for the Rev No field on the Manage Asset Master Information screen for additional information.

Short Desc

This column displays the optional short description entered for this record, if applicable. Data displayed in this column may have been entered/edited on the Manage Asset Master Information screen or on this screen.

You can enter or edit the description in this optional column. If the displayed short description originated from autocreated data, however, make edits with caution to avoid compromising the integrity of the captured data.

Although this column is not required, and because the data from this column will display in the Description field on many standard system reports, you may want to provide a meaningful asset description.

Long Desc

This column displays the optional long description entered for this record, if applicable. Data displayed in this column may have been entered/edited on the Manage Asset Master Information screen or on this screen.

You can edit or enter the description this optional column.

Additional Desc

This column displays the optional additional description entered for this record, if applicable. Data displayed in this column may have been entered/edited on the Manage Asset Master Information screen or on this screen.

You can edit this optional column or enter additional description.

Property Type

This column displays the system-required property type entered for this record. Data displayed in this column may have been edited on the Manage Asset Master Information screen or on this screen.

You can edit, enter, or click to select, a valid property type for this record. Valid property types are set up during initialization on the Manage Property Types screen.

Class Code

This column displays the system-required classification code entered for this record. Data displayed in this column may have been edited on the Manage Asset Master Information screen or on this screen.

You can edit, enter, or click to select, a classification code for this record. Valid classification codes are set up during initialization on the Manage Classification Codes screen.

Subclass Code

This column displays the optional subclass code entered for this record. Data displayed in this column may have been edited on the Manage Asset Master Information screen or on this screen.

You can edit, enter, or click to select, a subclass code for this record. Valid subclass codes are set up during initialization on the Manage Subclass Codes screen.

Depr Status

This column displays the system-required depreciation status assigned to this record. Data displayed in this column may have been edited on the Manage Asset Master Information screen.

You cannot edit data in this column in this screen because changes to depreciable status may also require changes to data on other screens for which you may not have been granted rights. Changes to this column must be made on the Manage Asset Master Information screen.

Post Disp To G/L

This column displays the status of the Post Disposal to G/L check box on the Manage Asset Master Information screen.

This check box is available only if you have specified that the record is Non-Depreciable in the Depr Status column. This check box is clear as default.

If you select this check box for a non-depreciable asset, a future disposal entry for this record can be posted to the General Ledger. In the case of non-depreciable assets (for example, land), the G/L entry on disposal can consist only of debits and credits, as appropriate, to the Cost and Gain/Loss on Sale of Fixed Assets accounts, because there is no accumulated depreciation associated with a non-depreciable asset. You cannot select this check box for depreciable assets, because disposal entries for depreciable assets on Selected for Posting status option on the Manage Disposal Transactions screen are posted to the General Ledger.

Depr Based On

If the record is Depreciable, the system displays the system-required basis for depreciation that you assigned on the Manage Asset Master Information screen or on this screen.

You cannot edit data in this column on this screen because changes to the basis for depreciation may also require changes to data on other screens for which you may not have been granted rights. You must make changes to this column on the Manage Asset Master Information screen.

• For a depreciable asset record for which you have previously selected a Years depreciation basis methodology, the columns available on the Manage Asset General Ledger Book Information screen are appropriate to the methodology. Columns not appropriate to the selected methodology for the record, such as Lease Start Date, Estimated Units Useful Life, and so on, are not available for use on that screen.

• For a depreciable asset record for which you have previously selected a Units of Usage depreciation basis methodology, the columns available on the Manage Asset General Ledger Book Information screen are appropriate to the methodology. Columns not appropriate to the selected methodology for the record, such as Lease Start Date, Depr Method Code, and so on, are not available for use on that screen.

• For a depreciable asset record for which you have previously selected a Lease Pds depreciation basis methodology, the columns available for use on the Manage Asset General Ledger Book Information screen are appropriate to the methodology. Columns not appropriate to the selected methodology for the record, such as Estimated Units Useful Life, Depr Method Code, and so on, are not available for use on that screen.

Entry User ID

This column displays the ID of the user that originally added the record. You cannot edit this column or make entries in it.

Entry Date/Time

This column displays the date and time that the record was originally added. You cannot edit this column or make entries in it.

Original Entry Type

The system creates and displays the type of original entry when the record was saved. Both manually added and autocreated entry types are recorded. You cannot edit this column or make entries in it.

• For manually added records, this column displays MANUAL.

• For autocreated records, this column displays AUTO-R if the timing source was Receipts, AUTO-P if the timing source was Posting, and AUTO-U if the row was created using the Line Repeat function on the Manage Autocreation Transactions screen.

Post Sequence No

In the event of a system failure during posting, or if an entry for this asset is currently being posted, the entry's posting sequence number will display in this non-editable column. Identical posting sequence numbers are assigned by the system to all entries posted in a particular session.

A sequence number will display in this column for entries that were unsuccessfully posted or if the system is in the process of posting the entry. If the record has a posting sequence number, you will not be able to save any changes made to other columns on this screen. After the entry has been successfully posted for the asset, the sequence number will no longer display in this column.

Asset Notes

This column displays the optional notes entered for this record, if applicable. The Notes data may have been entered/edited in the Notes tab of the Manage Asset Master Information screen or on this screen.

You can edit the notes or enter additional information to associate with the asset record.

All columns from this screen are also available on the Manage Asset Master Information screen with one exception—the Asset Notes column that displays on this screen is alternately available from the Notes tab of the Manage Asset Master Information screen and is not available as a specific menu selection.

• Table Information

  The system stores the Asset Master data on the Manage Asset Description Information screen in the ASSET table.

• FAQs

  Which screens should I set up during initialization and in which order?

  The following items should be set up in the order listed, as applicable, before you begin to add data for an Asset Master or Asset Template record.

  We also recommend that you refer to the more extensive documentation pertaining to each of the Fixed Assets setup items for additional information.

  1. Property Types

     Set up required property types on the Manage Property Types screen. Property types are user-designated property categories, such as personal, real, government, and so on, that are assigned to each asset record.

  2. Classification Codes

     Set up required classification codes on the Manage Classification Codes screen. Classification codes are user-designated classifications, such as automobiles, computers, equipment, and so on, that are assigned to each asset record.

  3. Subclass Codes

     Set up optional subclass codes on the Manage Subclass Codes screen. Subclass codes are user-designated sub-categories that can be used to give more descriptive information. For example, you had defined "Vehicles" as a classification code, you might define subclass codes as "Trucks", "Automobiles", "Vans", and so on, to enhance the sorting potential for your asset records.

  4. Depreciation Methods

     Set up required depreciation methods on the Manage Depreciation Methods screen if you plan to enter data for depreciable assets. The Depr Method Code field is a system-required validated entry for depreciable records in the G/L book Info tab in an Asset Master record and/or in an Asset Template if you use this optional feature.

  5. Asset Master Field Labels

     Set up optional location code and government labels on the Manage Asset Master Field Labels screen. Use the location code and government label and data entry functionality to record additional information that may be specific to your company but for which there are no system-defined standard fields available. Three location labels are available in which to establish user-defined categories, such as "Building", "Room No", "Bin No", and so on. Fifteen government labels are available in which to establish user-defined categories, such as "Contract #", "Funding Source", and so on. You can use the corresponding optional data fields on this screen and Asset Template screens without first establishing labels for these fields. You may find, however, that screen inquiries and reports that use this data are more meaningful when appropriate labels have been designated for these fields.

  6. Location 1, 2 and/or 3 Codes

     Set up optional location codes on the Manage Location 1, Location 2, and/or Location 3 Codes screens. Use the location code data entry functionality to record additional location information that may be specific to your company but for which there are no system-defined standard fields with the desired terminology (such as "Building", "Room No.", "Bin No", and so on.).

  7. Location Groups

     Set up optional location groups on the Manage Location Groups screen. Use the location group functionality to identify and establish sets of location data that you can summarize into location "templates" (such as sites or other specific physical locations). Because many assets often share basic location data, the location group template makes location data entry more efficient on this screen and on the Asset Template records.

  8. Asset Master User-Defined Labels

     Set up optional user-defined field labels on the Manage Asset Master User-Defined Labels screen. Use the user-defined label and data entry functionality to record additional information that may be specific to your company but for which there are no system-defined standard fields available. You can establish labels for four types of user-defined fields: Date, Number, Text, and Validated Text and set up a virtually unlimited number of labels. Unless you have designed a user-defined label as "Required" for data entry on this and on the Asset Template screens, user-defined data is normally optional. The use of validated text user-defined fields requires that you either specify the acceptable text options in advance via the Validated Text subtask link on the Manage Asset Master User-Defined Labels screen or that the validation occur against a user-specified selection from a pre-defined list of Costpoint tables and fields.

  9. Validated Text for User-Defined Fields

     If you want to use optional user-defined validated text values, set these up in the Validated Text subtask link on the Manage Asset Master User-Defined Labels screen. Use validated text values to control the allowed (validated) data that can be entered. You can alternately bypass this subtask link and instead specify that validation occur against a defined Costpoint table and field.

  10. Asset, Depreciation Expense, Accumulated Depreciation and Gain/Loss Accounts

      In your Costpoint Chart of Accounts, set up and link the account combinations on the General Ledger (G/L) screens that you will use in your asset master and asset template records. If you use reference numbers, set these up as well. The four types of G/L accounts used in Fixed Assets include:

      • Asset Accounts — The Acct-Org-Proj-Ref1-Ref2 combinations assigned as Asset accounts represent property "ownership." Asset accounts can include balance sheet combinations (for company-owned property), project combinations (for property that should be identified with a contract), and/or expense account combinations (for tracking items not capitalized). A valid asset account combination that consists of both an account and an organization (at a minimum) is system-required in both an asset master and asset template record for all types of depreciable and non-depreciable property.

      • Depreciation Expense Accounts — The Acct-Org-Proj-Ref1-Ref2 combinations set up as Depreciation Expense accounts specify where depreciation expense will be posted for depreciable assets. You can allocate depreciation expense for a single asset record to multiple depreciation expense account combinations. As a result, you must set up one or more depreciation expense account allocation codes that define the account combinations and allocation percentages for depreciation expense. Once you have established your "catalog" of depreciation expense account allocation codes, you can assign them to depreciable assets on a record-by-record basis, as desired. The item for Depreciation Expense and Allocation Codes in this initialization list refers to the setup of depreciation expense account allocation codes. A valid depreciation expense account allocation code that maps to at least one combination consisting of both an account and an organization (at a minimum) is system-required in both an Asset Master and Asset Template record for depreciable property.

      • Accumulated Depreciation Accounts — The Acct-Org-Proj-Ref1-Ref2 combinations set up as Accumulated Depreciation accounts specify where the offset to depreciation expense will be posted for depreciable assets. (These accounts are normally set up as offsets to the balance sheet asset accounts). You must set up an accumulated depreciation account code to represent each Acct-Org-Proj-Ref1-Ref2 combination to which you will post accumulated depreciation to. Because many asset records share the same accumulated depreciation account number combination, the ability to identify each combination with a code enhances the efficiency of data entry. The Accumulated Depreciation Account Codes in this initialization list refers to the setup of accumulated depreciation account codes. A valid accumulated depreciation account code that maps to a combination which consists of an account and an organization (at a minimum) is system-required in both an Asset Master and Asset Template record for depreciable property.

      • Gain/Loss Accounts — The Acct-Org-Proj-Ref1-Ref2 combinations set up as Gain/Loss accounts specify where gain or loss on the disposition of depreciable assets will be posted. A gain/loss account combination is required when you enter disposal data on the Manage Disposal Transactions screen. You can designate a default Gain/Loss account on the Configure Fixed Assets Settings screen.

  11. Accumulated Depreciation Account Codes

      Set up accumulated depreciation account codes on the Manage Accumulated Depreciation Account Codes screen if you plan to enter data for depreciable assets. Each Accumulated Depreciation Account Code specifies an Acct-Org-Proj-Ref1-Ref2 combination to which the offset to depreciation expense will be posted for depreciable assets. The Code field in the Accumulated Depreciation Account group box is a system-required validated entry for depreciable assets in an Asset Master record and/or in an Asset Template.

  12. Depreciation Expense Account Allocation Codes

      Set up depreciation expense account allocation codes on the Manage Depreciation Expense Acct Allocation Codes screen if you plan to enter data for depreciable assets. You can allocate depreciation expense from a single asset record to multiple depreciation expense account combinations, based on percentages. Each Depreciation Expense Account Allocation Code specifies the Acct-Org-Proj-Ref1-Ref2 combinations and allocation percentages to which depreciation expense will be posted for depreciable assets. Once you have established your "catalog" of depreciation expense account allocation codes, you can assign them to depreciable assets on a record-by-record basis, as desired. The Depr Expense Acct Alloc Code field is a system-required validated entry for depreciable assets in an Asset Master record and/or in an Asset Template.

  13. Disposal Types

      Set up optional disposal types on the Manage Disposal Types screen to define disposal type codes to link with your asset records when you enter disposal data. For example, set up codes for disposal types such as "Scrapped", "Obsolete", "Stolen", and so on, to enhance the sorting potential for your asset records. The Disposal Type field is an optional validated entry on the Manage Disposal Transactions screen.

  14. Manage Fixed Assets Fiscal Years and Manage Fixed Assets Accounting Periods

      Regardless of the date of purchase or Fiscal Year basis assigned to your depreciation methods, you must establish your accounting periods and fiscal years in Fixed Assets. The system refers to this data when computing current period or projected depreciation. Three separate screens are available to enable the setup of Fixed Assets Fiscal Year/period data, as follows:

      11. Manage Fixed Assets Fiscal Years

      12. Manage Fixed Assets Accounting Periods

      13. Update FA FY/Pd Information from GL FY/Pd Information

      You should, at a minimum, enter data for the current fiscal year and data for the next two future fiscal years in Fixed Assets. If you do not set up this information before you compute depreciation, incorrect data may display in your Asset Master records after the system has computed depreciation.

      You can manually enter data on the Manage Fixed Assets Fiscal Years and the Manage Fixed Assets Accounting Periods screens or you can use the optional Update FA FY/Pd Information from GL FY/Pd Information screen to automatically populate these screens with fiscal year/period data that already exists in your General Ledger.

      You need not set up future fiscal years and periods in the General Ledger for Fixed Assets use, because functionality for both current and future fiscal year/period data resides in its entirety in Fixed Assets to accommodate the computation of current period and projected depreciation expense.

      Fiscal year/period data in Fixed Assets is not validated against data in the General Ledger. Although the system permits Fiscal Year/Period data in Fixed Assets that is inconsistent with G/L data, use extreme caution when entering different data or editing existing data. To avoid potential Fixed Assets calculation, posting, and closing problems, Fiscal Years/Period data in Fixed Assets should be identical to existing data set up for comparable fiscal years/periods in your General Ledger. The system will verify that the current fiscal year and periods from Fixed Assets are consistent with G/L data and will display a message if this is not true.

      When posting depreciation/disposal data from Fixed Assets, however, the system will always use the fiscal year/period data from the General Ledger.

      Special Circumstances:

      11. Date of Purchase Basis Depreciation Methodology and the 'Catch-Up' Calculation Option

      If you have assigned a Date of Purchase basis to one or more depreciation methods on the Manage Depreciation Methods screen and you have also selected the Added to Current Period option in the depreciation 'Catch-Up' calculation for prior periods in the current depreciation (PY or FY) on the Configure Fixed Assets Settings screen, a warning message will display that will inform you that historical fiscal year and period data on the Manage Fixed Assets Fiscal Years and Manage Fixed Assets Accounting Periods screens must be set up.

      You should set up the historical and period data on a one-time basis for each year specified in the depreciation start date assigned to your Asset Master records for which there is remaining book value. (Make sure that you insert the earlier fiscal years into the Manage Fixed Assets Fiscal Years screen instead of using the New Record function.)

      Alternately, if you do not want to add historical fiscal year and period data on the Manage Fixed Assets Fiscal Years and Manage Fixed Assets Accounting Periods screens, you can change the 'Catch-Up' calculation option on the Configure Fixed Assets Settings screen to Spread among remaining periods in PY or FY.

      11. Compute/Update Depreciation Computation Data Utility

      Blanks will display (in the Curr Depr Yr and Days/Pds Remaining fields) in the report produced by running the Compute/Update Depreciation Computation Data utility for any record for which no corresponding FY/Pd data is found on the Manage Fixed Assets Fiscal Years and Manage Fixed Assets Accounting Periods screens for the fiscal year indicated in the Depr Start Date field(s) from Asset Master records.

      If you plan to use the Compute/Update Depreciation Computation Data utility to verify (and optionally update) data in the Depr Start Date, Current Depr Yr, and Days/Pds Remaining fields for your historical assets, you must also set up FY/Pd data in Fixed Assets for the historical fiscal years that correspond to the Depr Start Date field(s) from Asset Master records, as applicable.

      • Project Depreciation Calculations

      To compute projected depreciation expense, you must add Fixed Assets fiscal year/accounting period data for each future year for which you will compute projected depreciation expense.

      • Close Fixed Assets Accounting Period and Fixed Assets Fiscal Years/Fixed Assets Accounting Periods screens

      The process run from the Close Fixed Assets Accounting Period screen can automatically update the Manage Fixed Assets Fiscal Years and Manage Fixed Assets Accounting Periods screens under certain conditions.

      If the period being closed is the last period of the current Fixed Assets fiscal year (see the Configure Posting Settings screen) and the next fiscal year and accounting periods are already set up in your General Ledger, the system will automatically import the next fiscal year data from the G/L to the Manage Fixed Assets Fiscal Years screen.

      Additionally, the system will also automatically import the G/L accounting periods and period ending dates for that fiscal year from the G/L to the Manage Fixed Assets Accounting Periods screen.

  15. Configure Fixed Assets Settings

      Enter control information in the following critical fields:

      15. Total Number of Books Utilized in the Books Setup group box

      16. No. and Book Name in Books Detail group box

      17. Length of Asset Number field

      18. Enable automatic numbering for Asset Master records check box

      19. System-Wide Configuration for Depreciation Calculations group box

      20. System-Wide Configuration for DP Basis Depreciation Methods group box

      For more information, please refer to the documentation for the Configure Fixed Assets Settings screen.

      Because these critical fields establish your system configuration for depreciation calculation rules and in many data entry screens, make certain that you first read the documentation for these fields before you finalize your selections. Decide on your configuration options carefully during your initialization planning. In most cases, once you have selected the configuration and have begun depreciating in the system, you cannot change your selection without extensively editing the asset data.

      If you want to set up a default Gain/Loss account for the G/L Book and/or a default Asset Template at this time, you may do so. Alternately, you can safely add this optional data at any time after initialization.

  16. Configure Posting Settings

      Specify the current Fixed Assets fiscal year, period, and subperiod to which depreciation and disposal data will be posted to the General Ledger on the Configure Posting Settings. Unlike the rest of Costpoint, there can only be one fiscal year, period, and subperiod designated as current in Fixed Assets.

      Decisions relative to the field entries in this screen are very important to system processing, and you should be very careful to initialize these fields correctly. You cannot change the data in the Current Fiscal Year and Current Period fields after you have posted depreciation and/or disposal entries to the General Ledger for the first time. You can, however, change the Current Subperiod field at any time, because it relates only to the posting timing.

      Once you have entered data in these fields and posted to the G/L for the first time, you will need to run a special process to close the Fixed Assets accounting period on the Close Fixed Assets Accounting Period screen. When you close the Fixed Assets period, the process will automatically populate the Current Fiscal Year and Current Period fields with the next sequential data. The system will automatically populate the Current Subperiod field in this screen with "1" as the default subperiod. If you have set up more than one subperiod, you can always edit this field to specify in which of your subperiods Fixed Assets postings should take place.

      The system validates the fiscal year, period, and subperiod on this screen against existing data in the General Ledger only during the posting process to the G/L. Although we recommend that the data on the Manage Fixed Assets Fiscal Years and Manage Fixed Assets Accounting Periods screens should be consistent with the Fiscal Year/period data in your G/L, if there is a discrepancy the system will validate against your G/L data.

      Historical depreciation is usually entered based on a pre-determined "live" date that corresponds with the date that balance sheet amounts were "frozen" for data entry. If your initialization date slips, which is often the case, you should make certain that you adjust the Current Fiscal Year and Current Period fields on this screen (as well as your historical data) before the first posting to the G/L takes place.

  17. Tracking Field Labels

      Set up optional labels in the Manage Tracking Field Labels screen, as desired.

      Use the tracking field label and data entry functionality to optionally enter additional inventory, maintenance, and transfer tracking data for your property records. You can enter optional tracking data on the following screens:

      17. Manage Asset Inventory Transactions

      18. Manage Asset Maintenance Information

      19. Manage Asset Transfer Information

      Although you can establish the labels at any time, you cannot enter the actual inventory, maintenance, and transfer data for a record until you have added the Asset Master for the record.

      You can set up inventory tracking labels for up to eight additional user-defined inventory categories, such as "Counted By", "Condition", and so on.

      You can set up maintenance field labels for up to nine additional user-defined maintenance categories, such as "Type", "Vendor", "Cost", and so on.

      You can set up transfer tracking labels for up to eight additional user-defined transfer categories, such as "Fld Chngd", "From", "To", "Reason", and so on.

      You can use the corresponding optional inventory, maintenance, and transfer data fields without first establishing labels for these fields. You may find, however, that screen inquiries and reports that use this data are more meaningful when appropriate labels have been designated for these fields.

      You will most likely find that the new change/audit trail functions available for transfers in Fixed Assets are more powerful and flexible than the older transfer functions available from the Transfer Records menu. Make sure that you read the item, Enable Audit Trail Functionality in this initialization list to determine the capability that will work best for you.

  18. Enable Audit Trail Functionality

      You can use the Configure Asset/Template Change Settings screen to select specific actions to be performed by the system when you capture and store change data for fields/columns in the Asset Master and/or Asset Template records.

      You must first decide if you want the system to capture change data at all and, if so, whether you want to capture change data for Asset Master records, Asset Template records, or both. The system can capture the:

      • Asset/template record identifier

      • The name of each changed field

      • The old data as it existed before the change

      • The new data after the change

      • Information on the user who performed the change

      • The date and time of the change

      In order for the system to capture change details, you must select the desired fields/columns in the Asset/Template Field/Column Names subtask of the Configure Asset/Template Change Settings screen before you make changes to Asset Master and/or Asset Template records.

      Each check box that you select in the Asset/Template Field/Column Names subtask signifies that you want to capture data for that field for an Asset Master and/or Asset Template record each time you make a change to that data, regardless of the screen in which the change was made.

      Special Circumstances:

      18. Table Sizes

      The tables that store the change data have the potential to become very large, depending on how many fields you select and how many changes you make to Asset Master/Template records. As a result, the default status for all check boxes for all rows in the Asset/Template Field/Column Names subtask have all been initially set as cleared.

      To limit the size of the audit log tables, you will probably select specific check boxes rather than all check boxes. You should capture change data for the fields you consider most significant, such as depreciation method, current period depreciation expense amount, location, and so on. You may decide not to capture change data for more insignificant data changes, such as spelling corrections made to description fields, and so on.

      Once the change details have been captured, use the View Asset Change History screen to view change data from the Asset Audit Log and the View Template Change History screen to view data from the Template Audit Log. Use the Print Asset/Template Change History Report screen to print change data reports from the Asset Audit Log or the Template Audit Log.

      If the change storage tables become too large, you can perform a selective purge from the Purge Asset/Template Change History screen.

      18. Transfer Functionality

      You can also use the Configure Asset/Template Change Settings screen to create G/L transfer entries for posting to the General Ledger. With the proper advance setup, the system can generate transfer entries automatically when you make changes to the asset (ownership) account, organization, and project fields and/or in the accumulated depreciation account code in an Asset Master record.

  19. Enable Autocreation Functionality

      You can use the autocreation screens in Fixed Assets to manage the setup and functions of the optional autocreation feature. This feature can automatically create Asset Master records by importing data from Purchasing, Receiving, and/or Accounts Payable, thus reducing the need for duplicate data entry in Fixed Assets.

      To use the autocreation feature, you must perform the following initialization steps:

      1. If you are licensed for Purchasing and Receiving, select the preferred asset/item numbering configuration from the Configure Default Autocreation Asset Numbering screen and the preferred defaults in the Configure Autocreation Settings screen.

      2. On the Manage Autocreation Accounts screen, enter the Account/Organization/Project/Ref1/Ref2 combinations and/or wild card combinations for which it is permissible to create Asset Master records. You must assign a Receipt or Posting Timing Code to each row to signify whether data should be captured at time of Receipt or at time of A/P Posting.

      3. On the Configure Fixed Assets Settings screen, select the Enable automatic numbering for Asset Master records check box and enter the appropriate data in the Last Asset Number field.

      Once initialization is complete, you will perform the additional operational steps for autocreation functionality.

  20. Asset Templates

      Use the optional template functionality to establish sets of default data for property that shares common characteristics by entering this data on the Manage Asset Template Information screen.

      A template functions only as the mechanism by which template data can be automatically imported into an Asset Master record. Once the data displays in the Asset Master record (after import), you can edit it on a field-by-field basis, if necessary, and there is no additional functionality for the template.

      The primary role for the Asset Template is to reduce the amount of repetitive manual data entry in Asset Master records that share mutual attributes. Another important advantage in the Asset Template functionality lies in the ability to incorporate consistent descriptions and data across property records, thus enhancing the quality of tracking and reporting functions within the system.

  What are Asset Templates?

  Asset templates contain up to 60 standard fields, in addition to other books and user-defined fields, in which you can optionally establish sets of default data for property that shares common characteristics.

  The primary role for a template is to reduce the amount of repetitive manual data entry in Asset Master records that share mutual attributes. Another important advantage in the Asset Template functionality lies in the ability to incorporate consistent descriptions and data across property records, thus enhancing the quality of Fixed Assets tracking and reporting functions.

  The template functions as the mechanism by which default data can be automatically imported into an Asset Master record. Once the data displays in the Asset Master record (after import), you can edit the data on a field-by-field basis, if necessary, and there is no additional functionality for the template.

  You can use the asset template functionality when you add new records (either via manual entry or via autocreation).

  On which Fixed Assets screens can I enter, edit or view the Asset Master data?

  • Manage Asset Master Information

  • Manage Asset Description Information

  • Manage Asset Purchase Information

  • Manage Asset Cost Information

  • Manage Asset Location Information

  • Manage Asset Account Information

  • Manage Asset General Ledger Book Information

  • Manage Asset Disposal Information

  • Manage Asset Government Information

  • Manage Asset Master Global Changes

  Can I print Asset Master data from standard system reports?

  The following reports are used most frequently to print Asset Master data:

  • Print Asset Master List

  • Print Asset Master Detail Report

  Many other Fixed Assets reports print specialized data segments (for example, depreciation, location information, and so on) from your Asset Master records, including:

  • Print Current Period Depreciation Report

  • Print Depreciation Component Information by Book Report

  • Print Posted Transactions Detail Report

  • Print Sequential Posted Depreciation History Report

  • Print Sequential Other Books Depreciation History Rpt

  • Print Comparative Book Data Report

  • Print Asset Book Value Report

  • Print Fixed Assets/General Ledger Reconciliation Report

  • Print Schedule of Asset Activity Report

  • Print Schedule of Accumulated Depr Activity Report

  • Print Asset Location Report