Contents · 6. Enter the Profile ID 7. Enter Cost and Quantity 8. 9. Click. The Cost/Asset...

29
University of Wisconsin System SFS Business Process AM.1.01 Adding an Asset Online SFS_AM.1.01_Adding_an_Asset_Online.docx Page 1 of 29 Contents Adding an Asset Online Overview ............................................................................................................. 1 Process Detail.............................................................................................................................................. 1 I. Introduction...................................................................................................................................... 1 II. Asset Entry....................................................................................................................................... 2 III. Express Add ..................................................................................................................................... 2 IV. Basic Add: Adding Physical Attributes ........................................................................................... 5 V. Combination Editing ...................................................................................................................... 10 VI. Review Audit Logs ........................................................................................................................ 11 VII. Parent-Child Asset Relationship .................................................................................................... 13 VIII. Add Asset with Multiple Funding Sources ............................................................................ 17 IX. Add Area ID to Asset .................................................................................................................... 25 Adding an Asset Online Overview Adding an asset in Asset Management can be done in different ways, the various ways to add and make changes to an asset are captured in the process details below. Process Frequency Process is done ad hoc whenever an asset needs to be added. Dependencies Refer to Financial and Administrative Policy F33 to determine if the transaction should be capitalized Assumptions The transaction meets the equipment capitalization requirements or you have opted to track the item as a Non-Capital item. Responsible Parties Users at the individual institutions are generally responsible for this business process. However, the UWSA Problem Solvers may assist in troubleshooting. Alternate Scenarios None Process Detail I. Introduction Asset Management stores two types of asset information:

Transcript of Contents · 6. Enter the Profile ID 7. Enter Cost and Quantity 8. 9. Click. The Cost/Asset...

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Contents

Adding an Asset Online Overview ............................................................................................................. 1

Process Detail.............................................................................................................................................. 1

I. Introduction...................................................................................................................................... 1

II. Asset Entry....................................................................................................................................... 2

III. Express Add ..................................................................................................................................... 2

IV. Basic Add: Adding Physical Attributes ........................................................................................... 5

V. Combination Editing ...................................................................................................................... 10

VI. Review Audit Logs ........................................................................................................................ 11

VII. Parent-Child Asset Relationship .................................................................................................... 13

VIII. Add Asset with Multiple Funding Sources ............................................................................ 17

IX. Add Area ID to Asset .................................................................................................................... 25

Adding an Asset Online Overview

Adding an asset in Asset Management can be done in different ways, the various ways to add and make changes

to an asset are captured in the process details below.

Process Frequency Process is done ad hoc whenever an asset needs to be added.

Dependencies Refer to Financial and Administrative Policy F33 to determine if the transaction

should be capitalized

Assumptions The transaction meets the equipment capitalization requirements or you have

opted to track the item as a Non-Capital item.

Responsible Parties Users at the individual institutions are generally responsible for this business

process. However, the UWSA Problem Solvers may assist in troubleshooting.

Alternate Scenarios None

Process Detail

I. Introduction

Asset Management stores two types of asset information:

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• Financial Information: Assets include accounting transactions of an asset such as cost, books,

depreciation method, convention, and life.

• Physical Information: Assets include physical attributes such as tag number, manufacturer,

specifications, location, custodian, image, and attachments.

II. Asset Entry

Asset entry workflow describes the steps to enter an asset into the Asset Management system.

This workflow has been designed to accommodate the manual entry of an asset. Combinations of

two add methods (Express Add and Basic Add) are used.

1. Express Add takes advantage of the system defaults to streamline entry.

2. Basic Add is the second type, which allows for entry of physical attributes about the asset.

III. Express Add

1. Navigation: Select ‘Asset Management WorkCenter’’ title from the Home Page

(Asset Management > Asset Transactions > Owned Assets > Express Add)

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3. Under the Manage Assets click the Express Add menu

4. The Business Unit should default to your Business Unit based on your User Preference setup.

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5. Asset Identification should be left as ‘NEXT’ which will assign a new asset ID number by

incrementing to next number when the asset is successfully saved.

a. Note: Do not confuse the Asset Number with the Tag Number, as these are different

fields.

6. Enter the Profile ID

7. Enter Cost and Quantity

8.

9. Click . The Cost/Asset Information page will appear:

1. Select a Profile ID from the lookup.

2. Click

a. Two additional pages will appear: the Depreciation page and the Tax page. Information

on these pages will default from the Profile ID.

3. Enter the Description of the asset.

4. Using the lookup, Enter the Location of the asset.

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5. Enter the Tag Number.

a. If you have a tag number associated with the asset for physical inventory purposes,

enter it in this field. Several PeopleSoft delivered reports will show this information.

6. Enter the Trans Date.

a. Typically, the Transaction Date is the date you actually acquired the asset.

7. Enter the Acctg Date.

a. The Accounting Date is the date you want the transaction to post to the GL.

b. Note: The Transaction Date cannot be later than the Accounting Date. The days

between these two dates are booked to Prior Period Depreciation (PDP).

c. Note: Depreciation expense starts with the accounting date.

8. Enter the Book Name.

a. This defaults to ‘CAPITAL’. If entering a non-capital asset, select ‘NONCAPITAL’.

9. Enter the Quantity.

a. Keep this number at 1 to keep each asset tied to a single Asset ID.

10. Enter the Cost.

a. Enter the actual cost of the asset. Capital assets have a minimum cost of $5,000.

11. Enter the Asset Category.

a. Values include ‘EQUIP’, ‘LEASE’, and ‘NCAP’ (non-capital equipment). Enter the

appropriate category.

12. The Cost Type field is not used.

13. Enter the Accum Depr.

a. If there is any accumulated depreciation associated with this asset, enter it here.

14. Enter the YTD Depr.

a. If there is any accumulated depreciation, enter the amount for the current fiscal year.

15. Enter the Chartfields (Fund, Dept, Program Code, Class, Project):

a. Enter the funding string that purchased the asset.

b. Note: When entering the funding string, this is the funding where the acquisition and all

future depreciation will be booked, so if the department or project is inactivated, the

asset will need to be transferred.

c. Note: This is different than the asset custodian asset, which can be entered later.

16. Click and an Asset ID will be assigned. Make note of the Asset ID number issued,

as you will need it to add the physical information next.

IV. Basic Add: Adding Physical Attributes

Using Basic Add is the second step in the “Asset Add Workflow”. With Express Add, you have created,

capitalized, and assigned an Asset ID to a new asset. The Basic Add functionality allows you to record

additional physical attributes.

2. Navigation: Select ‘Asset Management WorkCenter’’ title from the Home Page

(Asset Management > Asset Transactions > Owned Assets > Basic Add )

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3. Under the Asset Management WorkCenter click the menu Basic Add

4. Enter the Business Unit and the Asset Identification number assigned by the system.

5. Click , and Select the appropriate link in the results. The Asset Basic information

appears:

a. The Asset Basic Add consists of various tabs that capture different asset details.

b. The important tabs related to AM 9.2 are captured below.

General Information This page shows basic information about the asset entered earlier. Use this

page to change information entered with the Express Add. Attachments can also be added on

this page.

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Book Page link: This hyperlink transfers you to a new page that shows the asset books to which

this asset is assigned. The page shows the same books and field values that we specified on the

Asset Profile Depreciation

Attachments link: This functionality allows you to add file attachments to your asset.

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Operation/Maintenance This tab is used to record physical information details such as

manufacturer information.

Asset Acquisition Detail: This tab is used to enter information about how the asset was acquired

and keep track of the separate costs and acquisition amounts of components that comprise a

capitalized asset.

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Location/Comments/Attributes: This tab is used to record the asset’s location, enter comments

about it, and enter physical attributes, such as color, height, weight, or an image of the asset. The

custom attributes is where each campus can enter specific custom attributes for an asset.

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Manufacture/License/Custodian: This tab records custodial information, maintains license

information, and keeps track of information about and from the manufacturer.

6. Enter the information needed in each of these pages. The more information is defaulted from

the Asset Profile, the less that needs to be manually entered on these pages. Notice that there

are many pages with the button, giving the ability to add multiple entries. For example, if

there is a need to add a second comment, press and add a second comment. Be sure to

the page when done entering the information on the asset.

V. Combination Editing

A new Combo Edit error message will appear when saving an Asset. If the funding string fails

validation on ChartField combination, an additional Combo Edit page appears within the online

component that displays the error message.

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The following combination edit message will be generated when an invalid Chartfield funding

string is provided on an asset.

Tab shows Combo Edit Error message generated.

VI. Review Audit Logs

Click the Audit Logs hyperlink in the bottom of the General Informaion tab to open Search

Audit Logs page with ‘Asset Add’ audit log information.

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The following example shows the audit log for adding an asset.

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VII. Parent-Child Asset Relationship

Some assets stand alone, while others are grouped together for ease of processing and reporting. Parent-child assets are assets that are grouped together. For example, a computer can be regarded as several separate assets such as a monitor, a CPU, and a printer.

Two approaches you might use to add the computer as an asset are:

• Create a parent asset that is not an actual asset but rather a conceptual asset (for reporting

purposes) that ties together the various asset components.

This is referred to as a parent only asset. Use the asset ID to tie together all the

components as child assets. Each component has its own cost basis, depreciation, and physical tracking information.

• Identify one of the asset's components as the parent when you enter it.

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This is referred to as a parent component asset. Give it an asset ID, and use that ID to

tie together the other components as child assets. Each component has its own cost basis, depreciation, and physical tracking information.

This document focuses on the parent component Parent-Child Asset Relationship

Parent-Child Asset Relationship: Adding Parent Asset

Navigation: Navigator > Asset Management > Asset Management WorkCenter or select ‘AM

WorkCenter’ Title from your Home/Landing Page

1. The Business Unit should default to your Business Unit based on your User Preference setup.

2. Asset Identification should be left as ‘NEXT’ which will assign a new asset ID number by

incrementing to next number when the asset is successfully saved.

a. Note: Do not confuse the Asset Number with the Tag Number, as these are different

fields.

3. Click .

4. The Cost/Asset Information page will appear:

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5. Select a Profile ID from the lookup.

6. Click

a. Two additional pages will appear: The Depreciation page and the Tax page.

Information on these pages will default from the Profile ID.

7. Enter the Description of the asset.

8. Using the lookup, Enter the Location of the asset.

9. Enter the Tag Number.

a. If you have a tag number associated with the asset for physical inventory purposes,

enter it in this field. Several PeopleSoft delivered reports will show this information.

10. Enter the Trans Date.

a. Typically, the Transaction Date is the date you actually acquired the asset.

11. Enter the Acctg Date.

a. The Accounting Date is the date you want the transaction to post to the GL.

b. Note: The Transaction Date cannot be later than the Accounting Date. The days

between these two dates are booked to Prior Period Depreciation (PDP).

c. Note: Depreciation expense starts with the accounting date.

12. Enter the Quantity.

a. Keep this number at 1 to keep each asset tied to a single Asset ID.

13. Enter the Cost.

a. Enter the actual cost of the asset. Capital assets have a minimum cost of $5,000.

14. Enter the Asset Category.

a. Values include ‘EQUIP’, ‘LEASE’, and ‘NCAP’ (non-capital equipment). Enter the

appropriate category.

15. The Cost Type field is not used.

16. Enter the Accum Depr.

a. If there is any accumulated depreciation associated with this asset, enter it here.

17. Enter the YTD Depr.

a. If there is any accumulated depreciation, enter the amount for the current fiscal year.

18. Enter the Chartfields (Fund, Dept, Program Code, Class, Project):

a. Enter the funding string that purchased the asset.

b. Note: When entering the funding string, this is the funding where the acquisition and

all future depreciation will be booked, so if the department or project is inactivated,

the asset will need to be transferred.

c. Note: This is different than the asset custodian asset, which can be entered later.

19. Select Parent/Child value Parent

20. Select Click and an Asset ID will be assigned. Make note of the Asset ID number

issued, as you will need it to add to one or more child asset.

a. Note: Parent ID field will be populated with the Asset ID.

Parent-Child Asset Relationship: Adding Child Asset

Navigation: Navigator > Asset Management > Asset Management WorkCenter or select ‘AM

WorkCenter’ Title from your Home/Landing Page

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1. The Business Unit should default to your Business Unit based on your User Preference setup.

2. Asset Identification should be left as ‘NEXT’ which will assign a new asset ID number by

incrementing to next number when the asset is successfully saved.

a. Note: Do not confuse the Asset Number with the Tag Number, as these are different

fields.

3. Click . The Cost/Asset Information page will appear:

4. Select a Profile ID from the lookup.

5. Click

a. Two additional pages will appear: The Depreciation page and the Tax page. Information

on these pages will default from the Profile ID.

6. Enter the Description of the asset.

7. Using the lookup, Enter the Location of the asset.

8. Enter the Tag Number.

a. If you have a tag number associated with the asset for physical inventory purposes, enter

it in this field. Several PeopleSoft delivered reports will show this information.

9. Enter the Trans Date.

a. Typically, the Transaction Date is the date you actually acquired the asset.

Page 17: Contents · 6. Enter the Profile ID 7. Enter Cost and Quantity 8. 9. Click. The Cost/Asset Information page will appear: 1. Select a Profile ID from the lookup. 2. Click a. Two additional

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10. Enter the Acctg Date.

a. The Accounting Date is the date you want the transaction to post to the GL.

b. Note: The Transaction Date cannot be later than the Accounting Date. The days between

these two dates are booked to Prior Period Depreciation (PDP).

c. Note: Depreciation expense starts with the accounting date.

11. Enter the Quantity.

a. Keep this number at 1 to keep each asset tied to a single Asset ID.

12. Enter the Cost.

a. Enter the actual cost of the asset. Capital assets have a minimum cost of $5,000.

13. Enter the Asset Category.

a. Values include ‘EQUIP’, ‘LEASE’, and ‘NCAP’ (non-capital equipment). Enter the

appropriate category.

14. The Cost Type field is not used.

15. Enter the Accum Depr.

a. If there is any accumulated depreciation associated with this asset, enter it here.

16. Enter the YTD Depr.

a. If there is any accumulated depreciation, enter the amount for the current fiscal year.

17. Enter the Chartfields (Fund, Dept, Program Code, Class, Project):

a. Enter the funding string that purchased the asset.

b. Note: When entering the funding string, this is the funding where the acquisition and all

future depreciation will be booked, so if the department or project is inactivated, the asset

will need to be transferred.

c. Note: This is different than the asset custodian asset, which can be entered later.

18. Select Parent/Child value Child

19. Select parent asset id from Parent ID field

20. Click and an Asset ID will be assigned.

Parent-Child Asset Relationship: Review Parent-Child Page

Use the Review Parent-Child page (PARENT_CHILDASSETS) to review an asset and any child assets associated with it.

Navigation: Navigator > Asset Management > Asset Management Transactions > Parent-Child

Relationship > Review Parent-Child

VIII. Add Asset with Multiple Funding Sources

Recording an Asset in Asset Management with multiple funding sources can be done in the

following ways:

• Online asset additions in SFS.

o Express Add – Use Express Add if you Cost/Funding source chartfield values and your

Acquisition Details chartfield values are the same

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o Basic Add – Use Basic Add if Cost/Funding source chartfield values and your

Acquisition Details chartfield values are the same

• Interfacing assets via PeopleSoft delivered Spreadsheet Upload Tool.

Note:

This document focuses on Online addition in SFS

Add Asset with Multiple Funding Sources: Express Add

Navigation: Select ‘AM WorkCenter’ Title from your Home/Landing Page OR

Navigator > Asset Management > Asset Management WorkCenter

1. Select Express Add from Manage Assets Group

2. The Business Unit should default to your Business Unit based on your User Preference setup.

3. Asset Identification should be left as ‘NEXT’ which will assign a new asset ID number by

incrementing to next number when the asset is successfully saved.

a. Note: Do not confuse the Asset Number with the Tag Number, as these are different

fields.

4. Click . The Cost/Asset Information page will appear:

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5.

6. Select a Profile ID from the lookup.

7. Click

a. Two additional pages will appear: The Depreciation page and the Tax page. Information

on these pages will default from the Profile ID.

8. Enter the Description of the asset.

9. Using the lookup, Enter the Location of the asset.

10. Enter the Tag Number.

a. If you have a tag number associated with the asset for physical inventory purposes, enter

it in this field. Several PeopleSoft delivered reports will show this information.

11. Enter the Trans Date.

a. Typically, the Transaction Date is the date you actually acquired the asset.

12. Enter the Acctg Date.

a. The Accounting Date is the date you want the transaction to post to the GL.

b. Note: The Transaction Date cannot be later than the Accounting Date. The days between

these two dates are booked to Prior Period Depreciation (PDP).

c. Note: Depreciation expense starts with the accounting date.

13. Enter the Quantity.

a. Keep this number at 1 to keep each asset tied to a single Asset ID.

14. Enter the Cost.

a. Enter the actual cost of the asset. Capital assets have a minimum cost of $5,000.

15. Enter the Asset Category.

a. Values include ‘EQUIP’, ‘LEASE’, and ‘NCAP’ (non-capital equipment). Enter the

appropriate category.

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16. The Cost Type field is not used.

17. Enter the Accum Depr.

a. If there is any accumulated depreciation associated with this asset, enter it here.

18. Enter the YTD Depr.

a. If there is any accumulated depreciation, enter the amount for the current fiscal year.

19. Enter the Chartfields (Fund, Dept, Program Code, Class, Project):

a. Enter the funding string that purchased the asset.

b. Note: When entering the funding string, this is the funding where the acquisition and all

future depreciation will be booked, so if the department or project is inactivated, the asset

will need to be transferred.

c. Note: These chartfield values can be different from your Acquisition Detail chartfield

values.

20. Click Plus in Asset Cost Information frame; a second Cost Asset Cost Information section

will appear.

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21. Enter Category and Chartfield values (Fund, Dept, Program Code, Class, Project)

21. Click and an Asset ID will be assigned.

Add Asset with Multiple Funding Sources: Basic Add

Navigation: Select ‘AM WorkCenter’ Title from your Home/Landing Page OR

Navigator > Asset Management > Asset Management WorkCenter

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1. Select Basic Add

2. Select Add a New Value tab

3. The Business Unit should default to your Business Unit based on your User Preference setup.

4. Asset Identification should be left as ‘NEXT’ which will assign a new asset ID number by

incrementing to next number when the asset is successfully saved.

a. Note: Do not confuse the Asset Number with the Tag Number, as these are different

fields.

5. Click . The Basic Asset Component tabs appear:

6. Enter asset description

7. Select Profile Id

8. If applicable add attachment(s)

9. Select Asset Acquisition Detail tab

10. Enter asset description

11. Enter Amount

12. Select Acquisition Detail Chartfields

• perform this step if your cost/funding source chartfield values are not the same as your

Acquisition Detail chartfield values)

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13. Enter the Trans Date.

a. Typically, the Transaction Date is the date you actually acquired the asset.

14. Enter the Acctg Date.

a. The Accounting Date is the date you want the transaction to post to the GL.

b. Note: The Transaction Date cannot be later than the Accounting Date. The days between

these two dates are booked to Prior Period Depreciation (PDP).

c. Note: Depreciation expense starts with the accounting date.

15. Select button

16. Asset Cost Information frame will appear

17. The Cost Type field is not used.

18. Enter the Accum Depr.

a. If there is any accumulated depreciation associated with this asset, enter it here.

19. Enter the YTD Depr.

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a. If there is any accumulated depreciation, enter the amount for the current fiscal year.

20. Enter the Chartfields (Fund, Dept, Program Code, Class, Project):

a. Enter the funding string that purchased the asset.

b. Note: When entering the funding string, this is the funding where the acquisition and all

future depreciation will be booked, so if the department or project is inactivated, the asset

will need to be transferred.

c. Note: These chartfield values can be different from your Acquisition Detail chartfield

values.

21. Click and an Asset ID will be assigned.

22. Click Plus button in Acquisition Details frame; a second Acquisition Details frame will

appear.

23. Enter asset description

24. Enter Amount

25. Select Acquisition Detail Chartfields

• perform this step if your cost/funding source chartfield values are not the same as your

Acquisition Detail chartfield values)

26. Enter the Trans Date.

a. Typically, the Transaction Date is the date you actually acquired the asset.

27. Enter the Acctg Date.

a. The Accounting Date is the date you want the transaction to post to the GL.

b. Note: The Transaction Date cannot be later than the Accounting Date. The days between

these two dates are booked to Prior Period Depreciation (PDP).

c. Note: Depreciation expense starts with the accounting date.

28. Select button

29. Asset Cost Information frame will appear

30. The Cost Type field is not used.

31. Enter the Accum Depr.

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SFS Business Process

AM.1.01 – Adding an Asset Online

SFS_AM.1.01_Adding_an_Asset_Online.docx Page 25 of 29

a. If there is any accumulated depreciation associated with this asset, enter it here.

32. Enter the YTD Depr.

a. If there is any accumulated depreciation, enter the amount for the current fiscal year.

33. Enter the Chartfields (Fund, Dept, Program Code, Class, Project):

a. Enter the funding string that purchased the asset.

b. Note: When entering the funding string, this is the funding where the acquisition and all

future depreciation will be booked, so if the department or project is inactivated, the asset

will need to be transferred.

c. Note: These chartfield values can be different from your Acquisition Detail chartfield

values.

34. Click

35. VERIFICATION

a. Run Depreciation Calculation

b. Verify there are two rows of depreciation for each period, one for each funding source.

See example below

IX. Add Area ID to Asset

Navigation: Select ‘AM WorkCenter’ Title from your Home/Landing Page OR

Navigator > Asset Management > Asset Management WorkCenter

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SFS Business Process

AM.1.01 – Adding an Asset Online

SFS_AM.1.01_Adding_an_Asset_Online.docx Page 26 of 29

1. See SFS_AM.5.01_Addtion_Of_Area_ID

a. Business Process outline how to create and Area ID

2. Select Basic Add

3. Select Add a New Value tab

4. The Business Unit should default to your Business Unit based on your User Preference setup.

5. Asset Identification should be left as ‘NEXT’ which will assign a new asset ID number by

incrementing to next number when the asset is successfully saved.

a. Note: Do not confuse the Asset Number with the Tag Number, as these are different

fields.

6. Click . The Basic Asset Component tabs appear:

7. Enter asset description

8. Select Profile Id

9. If applicable add attachment(s)

10. Select Asset Acquisition Detail tab

11. Enter asset description

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SFS Business Process

AM.1.01 – Adding an Asset Online

SFS_AM.1.01_Adding_an_Asset_Online.docx Page 27 of 29

12. Enter Amount

13. Select Acquisition Detail Chartfields

a. Perform this step if your cost/funding source chartfield values are not the same as your

Acquisition Detail chartfield values)

14. Enter the Trans Date.

a. Typically, the Transaction Date is the date you actually acquired the asset.

15. Enter the Acctg Date.

a. The Accounting Date is the date you want the transaction to post to the GL.

b. Note: The Transaction Date cannot be later than the Accounting Date. The days between

these two dates are booked to Prior Period Depreciation (PDP).

c. Note: Depreciation expense starts with the accounting date.

16. Select button

17. Asset Cost Information frame will appear

18. The Cost Type field is not used.

19. Enter the Accum Depr.

a. If there is any accumulated depreciation associated with this asset, enter it here.

Page 28: Contents · 6. Enter the Profile ID 7. Enter Cost and Quantity 8. 9. Click. The Cost/Asset Information page will appear: 1. Select a Profile ID from the lookup. 2. Click a. Two additional

University of Wisconsin System

SFS Business Process

AM.1.01 – Adding an Asset Online

SFS_AM.1.01_Adding_an_Asset_Online.docx Page 28 of 29

20. Enter the YTD Depr.

a. If there is any accumulated depreciation, enter the amount for the current fiscal year.

21. Enter the Chartfields (Fund, Dept, Program Code, Class, Project):

a. Enter the funding string that purchased the asset.

b. Note: When entering the funding string, this is the funding where the acquisition and all

future depreciation will be booked, so if the department or project is inactivated, the asset

will need to be transferred.

c. Note: These chartfield values can be different from your Acquisition Detail chartfield

values.

22. Select Asset Acquisition Detail tab

23. Enter Location Code

24. Enter Area ID

25. Click and an Asset ID will be assigned.

Revision History

Author Version Date Description of Change

1.0 05/03/2013 Final

1.1 05/13/2013 Final review

1.2 05/16/2013 Added Review Audit Logs section

1.3 05/17/2013 Final review

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SFS Business Process

AM.1.01 – Adding an Asset Online

SFS_AM.1.01_Adding_an_Asset_Online.docx Page 29 of 29

1.4 05/23/2013 Updated to add policy items

1.5 05/28/2013 Final with changes from Jon Ahola

1.6 05/29/2013 Final review and publish to website