Capitalizing - Quick Addition for Adding a Parent Capital Project Asset

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Distribution

Director of Fixed Assets Accounting

FA Administrator

FA Plant Funds Manager

Related Procedures

Capitalizing - Defining Capital Assets in Grants Management

Capitalizing - Generating Asset Lines

Capitalizing - Reversing Capital Assets

Capitalizing - Setting Capital Project for Common Tasks

Ownership

The Director of Fixed Assets Accounting is responsible for ensuring that this document is necessary, reflects actual practice, and supports University policy.

IS Assets
N ® Assets ® Asset Workbench
B ® QuickAdditions
QuickAdditions

1. Complete the fields as shown in the preceding screen shot:

Asset#	Use building number or let system assign a number
Description	Building or infrastructure name
Category	Select from LOV
Book	Accept Default
Cost	$0
Date in Service	Actual date (must be current or past date)
Expense Account	Based on Project and Fund Source
Location	Select from LOV

2. Complete the ‘Asset Category’ DFF.

‘Responsible Org’ is 99999
‘Off Site Address’ is street address (can be blank)

3. Complete the ‘Asset Key’ Flexfield

Building use is selected from LOV
Tax Parcel is free form (can be blank)

4. Click [Done] when the QuickAdditions form and the flexfields are complete.

5. Click [OK] on the Note screen confirming addition of the asset.

NOTE: After the parent asset is posted. The depreciate flag must be turned off to prevent depreciation. If the depreciate flag is left on, a warning message will be generated for that asset when depreciation is run.

6. Using the Asset Workbench, retrieve the parent asset you just created.

7. Click the [Books] button.

8. Click the ‘Depreciate’ box to deselect depreciation.

NOTE: The ‘Depreciate’ box is selected by the system when the asset is posted. It must be manually deselected.

9. Save your work and close the form.

Effective: 12/23/04

Revision: 3 mr

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