Modifying asset details

This page allows you to modify the asset details. Tell me more.

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

The “Edit Asset” page appears.

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

Note: The system displays “Fresh” in the group box.

Capitalization No.

The number identifying the asset capitalization.

Modify the following fields if required:

Capitalization Date	The date on which the assets are capitalized (Date Format). Mandatory. The system updates the capitalization date to the in-service date.
Finance Book	The system lists the finance book mapped to the organization unit. The finance book must have been defined in the “Create Finance Book” activity of the “Organization Set Up” business component.

Modify the following fields in the “Asset Information” group box:

Asset Class Code	The finance book for which the balances of the account code is retrieved. Use the drop-down list box to select the code identifying the asset class. The asset class must have been defined in the “Create Asset Class” activity of the “Asset Type Definition” business component.
Asset Group Code	The code identifying the asset group (Alphanumeric, 32). The asset group must have been defined in the “Create Asset Group” activity of the “Asset Type Definition” business component.
	Help facility available
Cost Center	The code identifying the cost center under which the assets are physically or logically grouped (Alphanumeric, 5). The cost center must have been defined in the “Create Cost Center/Unit” activity of “Cost Setup” business component.
	Help facility available.

Note : You can use list edit to select "Asset Group"

Note: This field must not be left blank, if this business component is mapped to the “Cost Setup” business component.

The system displays the following:

Asset No.

The number identifying the asset whose details are to be modified.

Modify the following field if required:

Asset Desc.	The description pertaining to the asset number (Alphanumeric, 40). Mandatory.
	Zoom facility available.

The system displays the following in the “Tag Information” multiline.

Tag No.

The number identifying the asset tag.

Modify the following fields in the “Tag Information” multiline:

Tag Desc.s	The description of the tag (Alphanumeric, 40). Mandatory.
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.
In Service Date	The date on which the asset is put to use (Date Format). The system displays the capitalization date by default on launch of the page. The date must be within the open financial year.
Business Use %	The usage of the asset in the business (Decimal). The value entered here must be between 0 and 100.
Tag Cost	The cost of the asset tag (Decimal). Mandatory.

Note: The sum total of all the tag costs in the multiline must be equal to the asset cost.

Proposal No.

The number identifying the asset proposal (Alphanumeric, 18). The asset proposal must have been defined in the “Create Asset Proposal” activity of the “Asset Planning” business component.

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

The system retrieves the proposal number, if the invoice has been raised based on the asset proposal.

Asset Location Code	The code identifying the asset location where the assets are physically present (Alphanumeric, 20). The asset location must have been defined in the “Create Asset Location” activity of the “Asset Location” business component.
	Help facility available.
Inventory Cycle	The frequency in which the assets are to be verified. The inventory cycles available are "Monthly", "Quarterly", "Half Yearly"," Yearly" and " Not Required". The system displays the first inventory cycle in the list by default on launch of the page.

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

Salvage Value	The scrap value of an asset (Decimal). The salvage value must be greater than or equal to zero and lesser than or equal to the asset cost. The system displays 0 by default on launch of the page.
Manufacturer	The company or the maker who manufactured the asset (Alphanumeric, 60).
Barcode No.	The barcode number of the asset (Alphanumeric, 18).
Serial No.	The serial number of the asset (Alphanumeric, 18).
Warranty No.	The number identifying the warranty issued by the manufacturer (Alphanumeric, 18).
	Zoom facility available.
Model	The model number of an asset (Alphanumeric, 40).
Custodian	The name of the supervisor of assets (Alphanumeric, 20).
	Help Facility Available

Check the box in the “Select” column of the multiline to mark the asset tag.
Click the “Delete Tag” pushbutton to delete the selected tag of the asset.

Note: Atleast one row in the multiline must be marked for deletion.

The system regenerates the tag number. If an asset has 10 tags numbering 1 to 10 and if the tag number 3 and 7 are deleted, the system generates the sequential tag number, from 1 to 8
The system deletes the tag and the invoice used for creating the asset tag is released and can be used for any other asset tag creation.
If the asset is created using the invoices, then the capitalization amount is written back to the invoices and also updates asset proposal in the “Asset Planning” business component.
The system updates the login ID of the user and the system date along with the modification details.
Click the “Edit Asset” pushbutton to modify the changes made.
The system saves the asset details in “Fresh” status.
The system updates the login ID of the user and the system date along with the modification details.

Posting of accounts

If Non-capital document is not checked, the system debits the asset account code as specified in the “Create Asset Account Definition” activity of the “Account Rule Definition” business component and credits CWIP account code.
If Non-capital document is checked, then the system debits asset account code of Asset ARD and credits account code based on document type with asset cost.
If document type is Capital work order then the system debits the asset account code of Asset ARD and credits CWIP account code with the asset cost.
Click the “Delete Asset” pushbutton to delete the assets that are in “Fresh” status.
The system creates an accounting entry by reversing the entry generated during creation of the asset.
The system updates the login ID of the user and the system date along with the modification details.

The system displays the following:

Created By	The login ID of the user who created the asset.
Created Date	The date on which the assets are created.
Last Modified By	The login ID of the user who modified the asset details last.
Last Modified Date	The date on which the asset details are last modified.

To proceed, carry out the following

Select the “Document Details” link at the bottom of the page to update the document details.
Select the “Attach Notes” link at the bottom of the page to record any observations or comments regarding the modification of the asset.
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.

Modifying asset details – An overview

You can also delete the asset tag and the asset. Only the assets that are in “Fresh” status can be modified. You can modify the asset details like the date on which the assets were capitalized, the code identifying the finance book. You can also modify the asset information like the code identifying the asset class, the code identifying the asset group, the code identifying the cost center and the description pertaining to the asset. You can also modify the tag information like the description pertaining to the asset tag and the other additional details.

The system regenerates the tag number on deleting. The system deletes the tag and the invoice used for creating the asset tag is released and can be used for any other asset tag creation. The system updates the login ID of the user and the system date along with the modification details.