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Select the “Split Asset Tag” link under the “Asset Capitalization” business component.
The “Bifurcate Asset Tag” page appears.
The system displays the following in the “Doc. Information” group box:
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Doc. No. |
The unique number generated by the system after splitting the tag. This number is generated at the time of splitting the asset tag based on the numbering type selected. |
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Status |
The status of the asset which could be “Fresh” or “Amend”. |
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Transaction Date |
The date on which the asset tags was bifurcated. The system date is defaulted on launch of the page. |
Enter the following fields:
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Finance Book |
Use the drop-down to select the code identifying the finance book to which the document details are posted. The system lists all the finance books mapped to the login organization unit in the ascending order for selection. The finance book must have been defined in the “Create Finance Book” activity of “Organization Set Up” business component. The system displays the first value by default on launch of the page. |
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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. |
Enter the following field in the “Tag Information” group box:
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Asset No. |
The number identifying the asset whose tag must be split into many tags (Alphanumeric, 18). Mandatory. The assets must have been defined in the “Create Simple Asset” or the “Create Complex Asset” activity of this business component. |
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Press the <Enter> key. |
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The system retrieves the description based on the asset number specified. |
The system displays the following:
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Asset Desc. |
The description pertaining to the asset. |
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Zoom facility available. |
Enter the following field:
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Tag No. |
The number identifying the asset tag which must be further divided into many tags (Alphanumeric, 18). |
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Press the <Enter> key. |
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Tag Desc. |
The description pertaining to the asset tag (Alphanumeric, 255). |
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Zoom facility available. |
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Capitalization Date |
The date on which the asset tags was created. |
The system displays the following in the multiline:
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Tag No. |
The number identifying the asset tag, generated by the system at the time of splitting the tags. |
Enter the following fields in the “Split Information” multiline:
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Tag Desc. |
The description pertaining to the asset tag (Alphanumeric,255). Mandatory. |
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Corp Book Tag Cost |
The cost of the asset tag (Decimal). Mandatory as per the CORP Book will be displayed here. |
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TAX Book Tag Cost |
The cost of the asset tag (Decimal). Mandatory as per the TAX Book will be displayed here. |
Click the “Split Asset Tag” pushbutton to split the asset tag.
The system generates a unique tag number based on the numbering type specified.
The system also updates the login ID of the user and the system date along with the bifurcation details.
Accounting entries
For every new tag the system debits the Asset account code with the New tag cost and credits the same account code with the total of tag costs for all the new tags.
The system debits cumulative depreciation account with the total of cumulative depreciation for all the new tags (New tag costs - Net book value of new tags) and credits the same account for each and every new tag created with the cumulative depreciation (Individual New tag cost - net book value pertaining to that tag).
The system debits cumulative revalued depreciation account code with the total of cumulative revalued depreciation of new tags (Revalued cost - Net revalued cost) and credits the same account code for each and every new tag with the cumulative revalued depreciation (Revalued new tag cost - Net revalued new tag cost).
The system displays the following:
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Created By |
The login ID of the user who created the asset tags. |
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Created Date |
The date on which the asset tags was created |
To proceed, carry out the following
Select the “Attach Notes” link at the bottom of the page to record observations or comments regarding the bifurcation of asset tags.
Click the “View Tag Balance" link at the bottom of the page to view the tag balance after split.
