Modifying Asset Class

Modifying asset class details

This activity allows you to modify the details of an asset class. You can modify details of an asset class that is in the “Fresh” or “Active” status. You can carry out a search based on the code identifying the asset class and the description of the asset class. You can also search based on whether the asset class is depreciable and the frequency in which the asset class must be verified. The system retrieves the asset class based on the search criteria entered. You can modify the description of the asset and change the frequency in which the asset class must be verified. The system stores the login ID of the user and the system date along with the modified details.

Select the “Edit Asset Class” link under the “Asset Type Definition” business component.

The “Edit Asset Class” page appears.

Enter the following fields to search for the asset class for modifying the details:

Asset Class Code	The code identifying the asset class for which you want to modify the details (Alphanumeric, 20). You can enter the code in full or specify it partially using the “*” character. The system retrieves the details of the asset class that are similar to the value entered here.
Asset Class Desc.	A textual description of the asset class (Alphanumeric, 40). You can enter the description in full or specify it partially using the “*” character. The system retrieves the details of all the asset classes that have descriptions similar to the value entered here.
Depreciable	Use the drop-down list box to indicate whether the asset is depreciable or not.
Inventory Cycle	Use the drop-down list box to select the frequency of the inventory cycle from “Yearly”, “Half-yearly”, “Quarterly”, “Monthly” and “Not required”.
Leased Assets	Use drop list box to select whether assets is leased or not.

Click the “Get” pushbutton to retrieve the asset class details.

The system displays the following in the “Asset Class Details” multiline based on the search criteria entered:

Note: The system retrieves all the asset classes that are in the “Fresh” or “Active” status.

Asset Class Code

The code identifying the asset class.

Modify the following fields if required in the “Asset Class Details” multiline:

Asset Class Desc.	A textual description of the asset class (Alphanumeric, 40). Mandatory.
Depreciable	Use the drop-down list box to set whether the asset class is depreciable or not.
Inventory Cycle	Use the drop-down list box to select the time period frequency in which the assets that fall under the class must be verified from “Yearly”, “Half-yearly”, “Quarterly”, “Monthly” and “Not required”.
	Yearly – indicates that the assets falling under the class must be verified once in a financial year.
	Half yearly – indicates that the assets falling under the class must be verified twice in a financial year.
	Quarterly – indicates that the asset falling under the class must be verified every quarter of the financial year.
	Monthly – indicates that the asset falling under the class must be verified every month of the financial year.
	Not required – indicates that there is no need for the assets that fall under the class to be verified.
Asset Numbering Prefix	The prefix for automatic asset number generation.
Leased Assets	Use drop list box to select whether assets is leased or not.

Check the box in the “Select” column of the multiline to mark the asset class code for saving the modifications made.
Click the “Edit Class” pushbutton to save the modified details.

The system stores the login ID of the user and the system date along with the modified details.