Amending asset

This page allows you to add a new asset tag to the asset or upgrade with the already existing tag. Tell me more.

Select the “Amend Asset” link at the bottom of the “Select Document Details” page.

The “Amend Asset” page appears.

The system displays the following in the “Doc. Information” group box:

Capitalization No.

The unique number generated by the system after amendment. This number is generated at the time of amending the asset based on the numbering type selected.

Enter the following field:

Numbering Type

Use the drop-down list box to select the numbering type for the login organization unit and the “Asset Capitalization” transaction type. The numbering types must have already been defined in the “Create Numbering Class” activity of the “Document Numbering Class” business component and must be in “Active” status. The system displays the first value by default on launch of the page.

The system displays the following:

Status

The status applicable for the transaction as per workflow configuration. The status of the asset. It must be “Amended”.

Enter the following field:

Capitalization Date

The date on which the asset tags are capitalized (Date Format). Mandatory. The system updates the capitalization date to the in-service date.

The system displays the following:

Finance Book

The code identifying the finance book to which the asset entries are posted.

Enter the following field in the “Tag Information” group box:

Asset No.	The number identifying the asset to which the tag details must be added (Alphanumeric, 18). Mandatory. The assets must have been defined in the “Create Simple Asset” or the “Create Complex Asset” activity of this business component.
	Press the <Enter> key.
	The system retrieves the description based on the asset number specified.
	Help facility available.

The system displays the following:

Asset Desc.	The description pertaining to the asset.
	Zoom facility available.

Enter the following field:

New Tag

Check the box if you want to add the tag as a new tag for an asset.

Note: This field must not be selected, if you want to append the tag details to the already existing asset tag.

The system displays the following:

Asset Class Code	The code identifying the asset class.
Asset Group Code	The code identifying the asset group.
Cost Center	The code identifying the cost where the assets are located.

Enter the following fields:

Tag No.

The number identifying the asset tag (Alphanumeric, 18). Mandatory.

Note: If the “New Tag” is checked, then enter a unique tag number.

If the “New Tag” is not checked, then enter the existing valid tag number.

Tag Desc.	The description of the tag (Alphanumeric, 40). Mandatory.
	Zoom facility available.
Tag Cost	The cost of the asset tag (Decimal). Mandatory.

Note: If the document type selected is other than the capital work order and the new tag is also not checked, then the tag cost must be the sum of cost of the tag as already existing and the tag cost specified.

If the tags are not based on any invoices and the tag is new, then the “Tag Cost” must be specified.

If the tags are based on any reference document, then the system defaults the total of the capitalization amount of the selected document in the “Tag Cost” field.

Asset Location Code	The code identifying the asset location in which the asset tags are to be physically located (Alphanumeric, 20). The asset location must have been defined in the “Create Asset Location” activity of the “Asset Location” business component.
	Help facility available.
Depreciation Category	Use the drop-down list box to select the depreciation category. The system lists the depreciation category defined in the “Create Depreciation Setup” activity of the “Asset Depreciation Setup” business component.
Salvage Value	The scrap value of an asset (Decimal). The salvage value must be greater than zero and lesser than the asset cost. The system displays 0 by default on launch of the page.
In Service Date	The date on which the asset is put in use (Date Format). The system displays the capitalization date by default on launch of the page. The date must be within an open financial year.

Note: The “Salvage Value” and the “In Service Date” must not be modified for the existing asset tag.

Enter the following fields to capture the additional details of an asset tag:

Business Use %	The usage of the asset in the business (Decimal). The value must be between 0 and 100.
Inventory Cycle	The frequency in which the assets are to be verified. You can select from "Monthly", "Quarterly", "Half Yearly"," Yearly" or " Not Required". The system displays the first value by default on launch of the page.

Note: This business component must have been mapped to the “Asset Inventory” business component.

Custodian	The supervisor of the asset (Alphanumeric, 20).
	Help facility available.
Model	The model number of an asset (Alphanumeric, 40).
Manufacturer	The company or the maker who manufactured the asset (Alphanumeric, 60).
Serial No.	The serial number of the asset (Alphanumeric, 18).
Warranty No.	The number identifying the warranty issued by the manufacturer (Alphanumeric, 18).
Barcode No.	The barcode number of the asset (Alphanumeric, 18).
Proposal No.	The number identifying the asset proposal (Alphanumeric, 18). The asset proposal entered here must have been defined in the “Create Asset Proposal” activity of the “Asset Planning” business component.
	Help facility available.

Note: The proposal number is mandatory, if this business component has been mapped to the “Asset Planning” business component.

The asset class code to which the asset proposals have been defined must be the same asset class code displayed in this group box.

Click the “Save Details” pushbutton to save the details of tag wise amendment.

The System Updates the changes in the tags if the changes is in more than one tag.

Click the “Amend Asset” pushbutton to amend asset.
The system generates a unique capitalization number on amending based on the numbering type.
The system updates the status of the asset to “Amend”
The system updates the login ID of the user and the system date along with the amended asset details.

Posting of entries

If the non-capital document is not checked and the document type is other than the CWIP, the system debits the asset account code that has been defined in the “Create Asset Account” activity of the “Account Rule Definition” business component and credits the CWIP account with the difference in tag cost if new tag is not checked or with the tag cost if the new tag is checked.
If the non-capital document is checked, then the system debits the asset account code that has been defined in the “Create Asset Account” activity of the “Account Rule Definition” business component and credits the account code with the difference in tag cost if new tag is not checked or with the tag cost if the new tag is checked.

The system displays the following:

Created By	The login ID of the user who amended the asset.
Created Date	The date on which the asset was amended.

To proceed, carry out the following

Select the “Doc. Details” link at the bottom of the page to capture the document details if the asset tags are not based on any documents.
Select the “Attach Notes” link at the bottom of the page to record observations pertaining to the transaction.
Select the “Accounting Information” link at the bottom of the page to view the account posting information.
Select the “Collaborate” link at the bottom of the page to record or to view the observations or comments or discussions regarding the document.

Amending asset – An overview

The addition of the tags to an asset can be based on the invoice or without any document reference. If you have selected the document from the previous page, then the system defaults the tag cost in the current page. If the tags are not based on any invoice, then you have to specify the tag cost.

You can specify the date on which the tags are capitalized. You can specify the numbering type based on which the number will be generated by the system after amendment. You can enter the asset number to which the tags are going to be attached. If you want a new tag to be added, you can check the “New Tag” check box and provide a unique number to it. If the tags are going to be appended to already existing tags, then you can specify the valid existing tag number to which you want to attach. This page also allows you to capture the additional details, for the new tag. If the tag is going to be attached to the already existing tags, then the scrap value and the in-service date must not be altered.

The system updates the status of the asset to “Amended” after amendment. The system generates a unique document number for amending an asset. This number is used for reporting purpose. The system updates the login ID of the user to the created by and the system date to the created date.