5/14/2019 Asset Entry screen

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Asset Entry screen

The Asset Entry screen is opened by clicking Entry in the Maintain Assets function.
Add a new asset record for an asset that has just been acquired.
IDENTIFIER

Field Description

Asset The unique code to identify the asset.

Press Tab to use the next available asset from the AN entry in the YY - Serial Numbers (SYS
M170) function.

The asset can be different from the internal asset number. The asset number can be viewed
by selecting Extra > Asset No on the Maintain Assets screen.

Description The asset description.

Status (Display only) The current status of the asset.

Entered

The asset is being entered.

Active

The asset is active.

Disposed

The asset has been disposed of.

ACQUISITION TYPE

Field Description

Acquisition Type The asset acquisition type.

Normal

When all fields are completed, the Finance Maintenance screen is displayed, where a
supplier must be entered.

This screen can also be accessed by clicking Finance on the Maintain Assets screen.

Stock/Addition Acquisition

Capitalise stock, that is, to acquire an asset by removing an item from the saleable stock on
hand.

Enter the item code of the acquired item, and warehouse code from which it is being
supplied in the Acquisition Type Details group.
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Field Description
The acquisition cost of the item should be the same as the stock cost used when the item
was removed from the warehouse. This option does not perform any adjustments to
inventory. You must remove the item from stock with a stock issue.

If the Serial Number Traceability major function flag (located in the Inventory
Procedures (SYS M053) function) is set to 2 or 3 and the item being acquired is
serialised, a check is done to see whether the serial number is in the specified
warehouse. If the serialised item is stored in a warehouse other than the one
specified, an error is returned and processing cannot continue. Either take the asset
up using the correct specified warehouse or transfer the item to the warehouse
being specified before the acquisition.

Stock/Addition Purchase

Record an asset that is purchased from a supplier.

Enter the item code of the acquired item, and warehouse code from which it is being
supplied in the Acquisition Type Details group.

The description for an asset being acquired by means of a purchase order defaults from the
purchase order.

An alternative way to process the same activity is to bring the item into stock using
a purchase order, then capitalise using an asset capitalisation order.

Rental Acquisition

Acquire a rental item by capitalising an item from the saleable stock on hand.

Enter an item code and warehouse in the Acquisition Type Details group.

This function capitalises the item and sets its status to Available for Hire. This item can
then be used as a rental unit in the Rental Contracts module.

Rental Purchase

Record the acquisition of a rental unit that is purchased.

Serialised Rental Item

Acquire a rental item that is not currently in your inventory. A record is created in the
serial table with an item code of ZRENTAL.

This can be a previously sold item.

ACQUISITION TYPE DETAILS

Field Description

Item Code The item code of the asset if acquiring an existing item.

Warehouse The warehouse code from which the asset is being supplied.

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Field Description

Bin Location (Display only) The bin location of the asset.

Available Qty (Display only) The available quantity of the asset.

ACQUISITION IDENTIFICATION DATA

Field Description

Quantity The number of items for this asset.

An asset can be a single item or can be multiple items grouped together as one asset.

You could have multiple portable site storage sheds to list together. These sheds
could be listed as one asset with a quantity equal to the number of sheds you have.

You could also have improvements to the sheds. Therefore, you might prefer to
list the sheds as individual assets with the improvements, for example an air
conditioner, as attachments. You have the choice of adding the air conditioner as
an improvement to an item, increasing the value of the asset, or listing the air
conditioner as an attachment creating a parent/child relationship.

If the depreciation rate of the two items is the same, specify whether to add the air
conditioner as an improvement or attachment. If the rates are different, the air conditioner
must be attached and the two items maintained (and depreciated) separately.

If at any stage an asset must be split (e.g. for a sale), the asset must have a quantity greater than
one.

If a shed has an air conditioner added as an improvement, and at a later stage the air
conditioner is to be sold, the asset must have the quantity changed from one to two so the
air conditioner can be split from the whole asset and sold. If the air conditioner is stored as
a child asset, it can be disposed of in its own right.

Asset ID The second identification that can be assigned to the asset to help you physically identify it.

This field can also be used to store other information, such as barcode numbers.

Attach To If this asset is to be maintained as a child asset of another asset, enter the parent asset or press F2
to display a list of assets.

When a parent asset is depreciated, all child assets that have a status of Active are
also depreciated.
To run a depreciation on a child asset, you must run a depreciation on the parent
asset first.

Serial No The serial number of the item if acquiring a serialised item.

ASSET GROUPING

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Field Description

Location Code The asset location code, which defines the physical location of the asset.

Press F2 to open the Asset Locations – AL code table.

Asset locations can be set up to represent different states, cities, regions, offices or floors in
a building.

Asset locations are used to:

determine postings to the General Ledger

extract records for reports

extract records for bulk postings

The locations are represented by four-character codes. These can be defined using the Asset
Locations (FA M040) function in System Administration or from the Maintain Assets function.

Asset locations can be further divided into asset branches. Branches can be used to select assets for
reports and bulk postings. However, General Ledger postings do not differentiate between assets at
this level.

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Field Description

Group Category The asset group code, which defines the type of item the asset is.

Press F2 to open the Asset Groups – AG code table.

Typical asset groups are:

CARS

Cars

FURN

Furniture

PROP

Freehold property

COMP

Computers

Each group is represented by a four-character code. Similar to asset locations, asset groups are
used to:

determine postings to the General Ledger

extract records for reports
extract records for bulk postings (for example depreciation)

Asset group codes can be created using the Asset Groups (FA M041) function in System
Administration or from the Maintain Asset function.

When you capitalise an item using an asset acquisition sales order, the item group of the
capitalised item is used as the default value for the asset’s group code. For this reason, you
could set up asset group codes corresponding to item group codes, so there is no need to
change this default value before making the asset active.

Sub-Group Category The asset subgroup code.

Press F2 to open the Asset Sub Groups – AS code table.

These subgroups do not affect General Ledger postings. They are an aid to asset selection for
reports and bulk postings.

Branch This field is used for reporting purposes only.

The asset branch code, which further categorises the type of property the asset is.

Press F2 to open the Asset Branches – AB code table.

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Field Description

Asset Class Code The asset class.

Press F2 to open the Asset Classes – AN code table and select from the available list.

This field is used for grouping purposes in various reports, but is also used as asset selection
criteria for certain functions.

The Assets Vehicle Maintenance option can only be used for type M assets.

OTHER DETAILS

Field Description

Reporting Code The code to group assets for reporting purposes.

Physical Location The asset location code, to define the current physical location of the asset.

Press F2 to open the Asset Physical Locations – AF code table.

The asset location is used for asset reporting purposes only. The asset location specified in the
Location Code field affects the General Ledger accounts to which transactions relating to this
asset are posted.

Current Location The current location of the asset.

Approval Number The asset approval number.

This can be required when the asset is being purchased from a supplier.

Leased Select this field if the asset is being leased.

ACQUISITION DETAILS

Field Description

Acquisition Date This is applicable only when the asset record is being created.

The date the asset was acquired.

This date is used as the default start date for depreciation.

Currency Code The foreign currency in which the asset was acquired.

Leave blank if the asset was acquired in the local currency of the current company.

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Field Description

Currency Rate This is applicable if the asset was acquired in a foreign currency.

The currency rate that applied at the time of acquisition.

The foreign currency code and rate, and the foreign currency cost of the asset are stored for the
purpose of accurately depreciating the asset in alternative currencies.

Acquisition Cost This is applicable if the asset was acquired in a foreign currency.
(Foreign)
The cost of the asset in the currency specified above.

Cost Local The cost of the asset in the local currency.

A er all fields are complete, the Historic Currency Codes and Rates for Assets screen is displayed. This screen can also be
accessed by selecting Extra > Historic Currency Rates on the Maintain Assets screen.
A er closing the Historic Currency Codes and Rates for Assets screen, you need to enter regimes. For more information, see
Depreciation Rates by Regime for Asset screen.

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