Steps
to Complete Batch Options for Add New AssetsFrom the Fixed Asset Inventory screen, select the Assets menu and then Add New Assets.
If a batch already exists, the Add New Assets Batch Search screen will appear. To continue adding assets to an existing batch, select the desired batch by double-clicking on the batch description; otherwise, to enter a new batch, click the New Record button and then complete the batch options. If a batch does not exist, the batch options screen will appear immediately in order to create a new batch.
Steps
to Complete Batch Options for Add New Assets
Click the New Record button.
Note: For any field equipped with the repeat function, click the Repeat button or press the Ctrl+R keys to repeat the previous entry for the specified field. The repeat function is only available after your initial entry. If desired, set the screen preferences for the Add New Assets screen to define which fields to repeat information automatically from the previous entry without requiring an additional keystroke.
Steps
to Set Screen Preferences
Click the General tab to complete the general information for the asset.
Note: Select the Options menu and then View Accounts Payable Assets, View Scanner Assets, or View Web Link Assets to add an asset posted from Accounts Payable, scanned during an inventory (used with the Process Scanner Data option), or manually added to a room in Web Link (used with the Process Room Inventory option). After selecting the appropriate option, the applicable assets will appear in a list in the lower right-hand corner of the screen; double-click an asset to add and continue adding the asset as normal. The valid information that displays for the asset will appear in the appropriate fields by default, but can be changed, if needed.
Enter a unique tag number (ID number) for the asset in the Asset Tag field. The tag number can be alphanumeric and up to 20 characters long.
Note: If adding (undisposing) an asset from the scanner file that was scanned but marked as disposed in the system (with previous entries posted to General Ledger), a prompt will appear asking for a new asset tag number to re-assign to the disposed asset already in the Asset File Maintenance option; enter a new asset tag and then click OK. The asset from the scanner file can then be added back into the system as a current asset using the scanned Asset Tag.
Enter the date the asset is being entered into the Fixed Asset Inventory module in the Entered Date field. Use the mm/dd/yyyy format or click the down-arrow button to select the desired date. Leave the field blank to default to the current date.
Enter the description of the asset in the Asset Description field. The description can be up to 40 characters long.
Note: To optimize sorting on printed reports, be sure to enter all descriptions consistently. For example, enter a 6-foot folding table as "Table, folding, 6 foot", a 10-foot cafeteria table with benches as "Table, cafeteria with benches, 10 foot", and a 15-foot boat-shaped conference table as "Table, conference, boat-shaped, 15 foot", so that all the tables are grouped together on reports.
Enter the serial number of the asset in the Serial Number field, if applicable. The serial number can be alphanumeric and up to 25 characters long.
Enter the name of the manufacturer for the asset in the Manufacturer field, if known. The name of the manufacturer can be up to 50 characters long.
Enter the model number of the asset in the Model Number field, if applicable. The model number can be alphanumeric and up to 25 characters long.
The Disposed, Disposal Date, and Disposal Type ID fields will be disabled and should be blank for the new asset.
Note: To dispose an existing asset, complete the Process Asset Disposal option.
Enter the ID of the site where the asset is located in the Site ID field. If the ID is not known, click the down-arrow button to select the correct one, or press the Ctrl+F keys to access the search feature.
Enter the ID of the building where the asset is located in the Building ID field. If the ID is not known, click the down-arrow button to select the correct one, or press the Ctrl+F keys to access the search feature.
Enter the ID of the room where the asset is located in the Room ID field. If the ID is not known, click the down-arrow button to select the correct one, or press the Ctrl+F keys to access the search feature.
If desired, enter the ID of the department for which the asset is located or associated with in the Department ID field. If the ID is not known, click the down-arrow button to select the correct one, or press the Ctrl+F keys to access the search feature.
If desired, enter the ID for the vendor from whom the asset was purchased in the Vendor ID field. If the ID is not known, click the down-arrow button to select the correct one, or press the Ctrl+F keys to access the search feature.
Note: Once the asset is saved, click the Show Details button located to the right of the Vendor ID field to view the purchase order and invoice information for the asset, if applicable.
Tip: If the user entering the asset is tied to one or more vendor groups (in the User Security option), the vendor entered here must be included in one of the designated vendor groups.
Enter the ID for the owner of the asset in the Owner ID field, if desired. If the ID is not known, click the down-arrow button to select the correct one, or press the Ctrl+F keys to access the search feature.
Enter the ID for the condition of the asset in the Condition ID field, if desired. If the ID is not known, click the down-arrow button to select the correct one, or press the Ctrl+F keys to access the search feature.
If desired, complete the Expense Accounts List to track the expense account number(s) from which the asset was purchased. To add an account number, complete the following:
In the blank line (indicated with an asterisk) at the bottom of the Expense Accounts List, enter the expense account number from which the asset was purchased in the Chart of Account Number field. If the account number is not known, click the down-arrow button to select the correct one, or press the Ctrl+F keys to access the search feature.
In the Percentage field, enter the percentage of the total cost of the asset that was expensed to the particular account number. The total percentage of all account numbers entered must equal 100%; if only one account number is listed, enter 100 as the percentage.
If applicable, repeat these steps until all the account numbers have been added.
Click the Save button.
Click the Acquisition/Depreciation tab to complete the acquisition and depreciation information for the asset.
Enter the quantity of the asset purchased in the Quantity field. The default of 1.00 will appear, but can be changed. The quantity can be up to 10 digits long (including the decimal point and comma(s) if applicable) and will be rounded to 2 decimal places by the system if capable.
Enter the purchase cost of the asset (if entering multiple assets with only one asset tag number, enter the unit cost) in the Unit Cost field. The unit cost can be up to 14 digits long (including the decimal point and comma(s) if applicable) and will be rounded to 2 decimal places by the system if capable.
The system will multiply the Quantity by the Unit Cost and display the total in the Total Cost field. The amount displayed in the Total Cost field cannot be edited.
Enter the date the asset was purchased in the Purchase Date field. Use the mm/dd/yyyy format or click the down-arrow button to select the desired date.
Select the Purchased New field if the asset was purchased new; if the asset was previously used when purchased, do not select this field. A checkmark will appear in the box if the field is selected. By default, this field will be selected.
Enter the ID of the class to which the asset is associated in the Class ID field. If the ID is not known, click the down-arrow button to select the correct one, or press the Ctrl+F keys to access the search feature.
Enter the ID of the sub class to which the asset belongs in the Sub Class ID field. If the ID is not known, click the down-arrow button to select the correct one, or press the Ctrl+F keys to access the search feature.
Note: After entering or selecting a sub class, the Sub Class Default Options screen appears; select the fields for which defaults to use from the sub class for the asset. A checkmark will appear in the box to the right of the field if it is selected to be brought in from the sub class; by default all the fields are selected. Click the Execute button to update the selected fields of information for this asset from the sub class; otherwise, click the Cancel button to manually enter all the information.
Enter the factor of how much the asset will cost next year in the Replacement Cost Change Factor field. As an example, if the purchase cost of an asset will increase 2% next year, the replacement cost change factor is 1.02; and if the purchase cost of the asset will decrease 3% next year, the replacement cost change factor is 0.97. The replacement cost change factor from the sub class will appear as the default if specified to do so, but can be changed. The replacement cost change factor can be up to 10 digits long (including the decimal point and comma(s) if applicable) and will be rounded to 4 decimal places by the system if capable.
Enter the replacement cost of the asset (the amount of cash or other consideration that would be required today to obtain the same asset or its equivalent) in the Replacement Cost field. The Total Cost will appear as the default for the replacement cost (after advancing into the field or saving), but can be changed. The replacement cost can be up to 14 digits long (including the decimal point and comma(s) if applicable) and will be rounded to 2 decimal places by the system if capable.
Note: This field will be automatically updated when the Process Replacement Cost option is completed.
Enter the number of years the asset will be useful in the Useful Life field. The default useful life from the sub class of the asset will appear in this field if specified to do so, but can be changed. The number can be up to 10 digits long (including the decimal point and comma(s) if applicable) and will be rounded to 2 decimal places by the system if capable.
The system will determine the present cash value of the asset (Total Cost less Depreciation Accumulated, if applicable) and display it in the Book Value field. The amount displayed in this field cannot be edited.
Note: This field will be automatically updated when the Process Depreciation and/or Process Catch-Up Depreciation options are completed if applicable.
Enter the estimated value of the asset at the end of its useful life in the Salvage Value field. The salvage value can be up to 14 digits long (including the decimal point and comma(s) if applicable) and will be rounded to 2 decimal places by the system if capable.
If applicable, enter the amount that has been depreciated over the life of the asset in the Depreciation Accumulated field. The amount can be up to 14 digits long (including the decimal point and comma(s) if applicable) and will be rounded to 2 decimal places by the system if capable. Typically, the Depreciation Accumulated field will be left blank when adding a new asset with an Entered Date and Purchase Date in the same fiscal year, or when adding a new asset with a Entered Date in a later fiscal year than the Purchase Date and the Process Catch-Up Depreciation option will be utilized to calculate the accumulated depreciation.
Note: If an amount is entered in the Depreciation Accumulated field for a new asset in the Add New Assets option, no depreciation entries post to General Ledger, and so enter and post the necessary manual journal entries in General Ledger to record the accumulated depreciation, if applicable. The Depreciation Accumulated field will be automatically updated when the Process Depreciation and/or Process Catch-Up Depreciation options are completed if applicable.
In the Inventories Account field, enter the fixed asset balance sheet account number to debit (for the amount of the Total Cost) when adding the new asset, such as the balance sheet account number for Machinery and Equipment. If the account number is not known, click the down-arrow button to select the correct one, or press the Ctrl+F keys to access the search feature. The default Inventories Account from the sub class of the asset will appear in this field if specified to do so, but can be changed. Leave this field blank if the asset being entered is not a fixed (or capital) asset.
Note: An entry will only post to the account number entered in this field if the Post to General Ledger field is selected on the batch options. This field is not applicable to Kansas and Nebraska school districts as fixed assets are not tracked in General Ledger in those states.
In the Reserved for Inventories Account field, enter the fixed asset balance sheet account number to credit (for the amount of the Total Cost) when adding the new asset. Typically, the balance sheet account number entered here is for Investment in General Fixed Assets; for Iowa school districts only, the account number is for Investments in Governmental Fixed Assets before Depreciation. If the account number is not known, click the down-arrow button to select the correct one, or press the Ctrl+F keys to access the search feature. The default Reserved for Inventories Account from the sub class of the asset will appear in this field if specified to do so, but can be changed. Leave this field blank if the asset being entered is not a fixed (or capital) asset.
Note: The account number entered in this field must be within the same fund as the account number entered in the Inventories Account field. An entry will only post to the account number entered in this field if the Post to General Ledger field is selected on the batch options. This field is not applicable to Kansas and Nebraska school districts as fixed assets are not tracked in General Ledger in those states.
Enter the appropriate type of depreciation (None or Straight Line) for the asset in the Depreciation Type field, or click the down-arrow button to select the correct one. If the asset will not be depreciated, enter None. If the asset will be depreciated using the straight-line method, enter Straight Line. The default Depreciation Type from the sub class of the asset will be selected if specified to do so, or else None will selected by default, but the default can be changed if needed.
If Straight Line is selected as the Depreciation Type, the First Year Depreciation Type field is enabled. Enter the appropriate first year depreciation type (None, Actual Months, Half Year, or Full Year) for the asset in the First Year Depreciation Type field, or click the down-arrow button to select the correct one. The First Year Depreciation Type field indicates how the asset is depreciated the first year, which is particularly important if the asset was purchased other than right at the beginning of the fiscal year. If the asset will not be depreciated the first year, enter None. If the asset will be depreciated for the actual number of months (of the first year) that the school district has had the asset, enter Actual Months. If the asset will only be depreciated for six months for the first year, select Half Year. If the asset will be depreciated for a full year, select Full Year. For those school districts who must comply with GASB 34, refer to the regulations with GASB 34 and your auditor to determine which option to select; SUI recommends to use the same first-year depreciation option for all assets. The default First Year Depreciation Option from the sub class of the asset will be selected if specified to do so, or else None will be selected by default, but the default can be changed if needed.
If Straight Line is selected as the Depreciation Type, the Debits List in the Depreciation Accounts section is enabled. If applicable, complete the Debits List to define which account number(s) to debit when recording depreciation for the asset. To add an account number, complete the following:
In the blank line (indicated with an asterisk) at the bottom of the Debits List, enter the depreciation expense account number with the appropriate function to debit in the Chart of Account Number field. If the account number is not known, click the down-arrow button to select the correct one, or press the Ctrl+F keys to access the search feature.
Then specify the percentage to be debited to the particular account number in the Percentage field. The total percentage of all account numbers entered in the Debits List must equal 100%; if only one account number is listed, enter 100 as the percentage.
If applicable, repeat these steps until all the debit account numbers have been added.
Note: The Debit Depreciation Accounts from the sub class will appear as the default if specified to do so, but can be changed. To not post entries to General Ledger when calculating depreciation for the asset, leave the Debits List blank. This field is not applicable to Kansas, Missouri, and Nebraska school districts as depreciation is not tracked in General Ledger in those states.
If Straight Line is selected as the Depreciation Type, the Credits List in the Depreciation Accounts section is enabled. If applicable, complete the Credits List to define which account number(s) to credit when recording depreciation for the asset. To add an account number, complete the following:
In the blank line (indicated with an asterisk) at the bottom of the Credits List, enter the appropriate accumulated depreciation balance sheet account number to credit in the Chart of Account Number field. If the account number is not known, click the down-arrow button to select the correct one, or press the Ctrl+F keys to access the search feature.
Then specify the percentage to be credited to the particular account number in the Percentage field. The total percentage of all account numbers entered in the Credits List must equal 100%; if only one account number is listed, enter 100 as the percentage.
If applicable, repeat these steps until all the credit account numbers have been added.
Note: The Credit Depreciation Accounts from the sub class will appear as the default if specified to do so, but can be changed. The Credit account number(s) must balance by fund to the Debit account number(s). To not post entries to General Ledger when calculating depreciation for the asset, leave the Credits List blank. This field is not applicable to Kansas, Missouri, and Nebraska school districts as depreciation is not tracked in General Ledger in those states.
Click the Save button.
Click the Custom Fields tab to complete the miscellaneous information for the asset.
All the custom fields defined as text fields in Fixed Asset Inventory appear in the Text Fields List. If applicable, enter the information (up to 255 characters) for the asset in each text field.
All the custom fields defined as referenced fields in Fixed Asset Inventory appear in the Referenced Fields List. If applicable, enter the ID for the value for the asset in the appropriate referenced field. If the ID is not known, click the down-arrow button to select the correct one, or press the Ctrl+F keys to access the search feature.
Click the Save button.
Once all the assets have been entered, print a listing and post the batch.