|
|
... |
... | ... |  |
 |
Additions - Detailed Additions
Director of Fixed Assets Accounting
FA Administrator
FA Plant Funds Manager
FA Specialist
None.
The Director of Fixed Assets Accounting is responsible for ensuring that this document is necessary, that it reflects actual practice, and that it supports corporate policy.
Fixed Assets
N ®
Assets ®
Asset Workbench
B ®
Additiona
Asset Details
Entering Descriptive Information
1. Click [Additions] on the Find Assets screen
2. Enter the Asset Number. Then key the same number into the Tag Number field. The Asset Number and Tag Number will always be the same.
3. Enter a description of the asset. Using mixed case (initial capitals), place the noun first and separate the descriptive word with commas.
EXAMPLE: Microscope, Electron
4. Enter the appropriate tag number. For Government Furnished Equipment (GFE) use the GFE Tag number. This number must be the same as the asset number.
Note: Tag numbers cannot be duplicated.
5. Choose the Asset Category from the appropriate LOVs. Insure the appropriate ownership category is selected based on whether or not the item is owned or not owned and whether UVA, UVA at Wise, or SWVHEC is responsible for the asset. UVA at Wise has similar categories.
Note: UVA assets are classified as either:
6. Key or select required additional information in the Asset Category Descriptive Flexfield (DFF) shown in the preceding screen shot.
Note: 'Responsible Org' is a REQUIRED field.
7. Key the serial number for the item.
8. Tab to 'Asset Type' ('Asset Key' field is not used for equipment).
9. Select 'Capitalized,' 'Expensed,' or 'CIP' asset types. In most cases you will select 'Capitalized Asset.'
10. Enter the number of units. The Fixed Assets module uses a default value of '1.'
11. Enter the parent asset number if you are adding a subcomponent asset.
Note: Subcomponent assets are detachable components that are tracked and maintained separately from their parent asset number. For example, a monitor may be tracked as a subcomponent of the computer. If a parent asset is selected the description will be displayed.
12. Enter the manufacturer and model of the item.
13. Tab to check boxes for 'In Use' and 'In Physical Inventory' ('Warranty Number' field is not used at UVA).
14. Leave the 'In Physical Inventory' check box clear if you do not want assets in a particular category to be included in physical inventory.
15. The property type and class for tax-reporting purposes will appear by default based on the Asset Category.
16. Do NOT change the default value for ownership. Ownership is determined by the Asset Category.
17. Click the [Source Lines] button if you need to enter purchasing information.
18. Choose 'Continue' to record cost information.
Entering Purchasing Information
IS Assets
N ®
Assets ®
Asset Workbench
B ®
New
B ®
Source Lines
Source Lines
Note: Invoice information is generally not recorded for manual additions.
1. Enter the invoice number, description, supplier name and number, and purchase order number in the Source Lines window. Specify one or more invoice lines associated with the asset or enter supplier information for each invoice line as needed. Cost information cannot be added to the invoice line. Specify cost information in the Books window. It appears automatically when you complete the 'Source Lines' window and click 'Continue.'
Note: Cost information is automatically entered when you add assets from invoice distribution lines using Mass Additions.
Note: Normally invoices would not be recorded and the invoice amount is not available for updating.
2. Add the PTAO to the appropriate source lines:
3. Click [Continue] to add more information to the new asset.
Entering Financial Information
IS Assets
N ®
Assets ®
Asset Workbench
B ®
New
B ®
Continue
Books
1. UVA uses only one Fixed Asset book. Press [Ctrl-L] and the book 'UVA FA BOOK' appears by default.
2. Enter the current cost of the asset. The original cost defaults from the current cost. The value is normally positive and can also be zero, or negative. CIP assets initially have a cost of zero.
3. Leave the YTD Depreciation field blank. IS Assets calculates it automatically based on the date placed in service.
Note: For existing assets, IS Assets displays the YTD and accumulated depreciation.
4. Tab to the 'Method' field. (Salvage Value, Revaluation Ceiling, and Revaluation Reserve fields are not used at UVA).
5. The depreciation method defaults from the Asset Category you selected. You can select another method from the LOV if needed.
Note: This should be done only after consultation with the Property Accounting Manager.
6. Check the 'Depreciate' box to depreciate the asset.
Note: Normally all assets should be depreciated. Contact the Property Accounting Manager before you uncheck the Depreciate box.
7. Specify the asset's date in service. The current date appears by default; if needed, select a prior period from the LOV.
8. The prorate convention and date appear by default based on the Asset Category. IS Assets uses the prorate convention to determine how much depreciation to take in the first and last years of an asset’s life. Then it uses the prorate date to calculate the depreciation expense.
9. Click [Continue] to go to the Assignments screen and continue adding new asset information.
Entering Assignment Information
IS Assets
N ®
Assets ®
Asset Workbench
B ®
New
B ®
Continue
B ®
Continue
Assignments
1. Enter the asset unit for the first assignment in the unit change box. Note the 'Units to Assign' box keeps track of the units remaining to be assigned. Fractional units can be assigned
2. Select the name or employee number of the person responsible for the asset from LOV.
3. Enter the expense account. The account can be selected from the LOV. It is important to select the appropriate project and organization when completing the account. The object code defaults to 'Depreciation expense.'
Expense
account string for gifts of equipment:
10.116632.5505.8585.<Org>.0000
Expense
account string for Government Furnished Equipment (GFE):
10.116633.5505.8586.<Org>.0000
4. Select the physical location of the asset from the LOV.
5. Click [Done] to save your work.
6. Click [OK].
Note: The asset is posted to Fixed Assets and its asset number is assigned and displayed after it has been posted. Now the asset can be viewed in Asset Workbench or Inquiry.
Effective: 08/16/04
Revision: 2
Oracle Tutor can be licensed to modify and add to this content, documenting all of your business process documentation in the Oracle Tutor format.
Oracle® Tutor Copyright © 1997, 2009, Oracle. All rights reserved.