Steps to Add an AssetAssets are the property or items of value that are tracked within the Fixed Asset Inventory module. Fixed (or capital) assets are defined as those assets that are tangible in nature, have a life longer than the current fiscal year, and have a value over a specified dollar amount (threshold), which is determined by the board of education and is in accordance with any state and federal regulations, such as GASB 34, if applicable.
Within the Fixed Asset Inventory module, both fixed (capital) assets and non-fixed assets (those below the threshold) can be tracked for inventory purposes. Reports can then be printed to view a list of all the assets inventoried, or just the fixed (capital) assets or non-fixed assets, as based on the Total Cost for each asset.
To add an asset into Fixed Asset Inventory, utilize the Add New Assets option. To view an existing asset or make general changes to an asset, use the Asset File Maintenance option. To change the accumulated depreciation that was calculated for an asset, complete the Adjust Accumulated Depreciation option. To change the replacement cost that was calculated for an asset, complete the Adjust Replacement Cost option. To dispose an asset, complete the Process Asset Disposal option.
Steps
to Adjust Accumulated Depreciation
Steps
to Adjust Replacement Cost