Adding an Asset Using Express Add - 24a
Purpose: Use this document as a reference for adding an asset using Express Add in ctcLink.
Audience: Financial Asset Manager, Facilities Asset Manager
Express Add enables you to add owned assets to the ctcLink Asset Management application. Express Add uses information from the default profile to provide data for an asset. Therefore, you can add assets without providing complete information. Assets added with Express Add are capitalized automatically when they are saved.
Navigation: Main Menu > Asset Management > Asset Transactions > Owned Assets > Express Add
- Use the Asset ExpressAdd page to define the business unit and asset identification number for your new asset:
- If it didn’t default, enter the appropriate business unit in the Business Unit field.
- Use the Asset Identification field to assign a number to an asset. By default, the application follows an auto numbering sequence for asset identification numbers. You can either assign the asset identification number manually or leave it as NEXT to accept the default number assignment upon saving.
- Select the Add button.
- Use the Cost/Asset Information page to add a new asset to the system.
- Enter or select the appropriate asset profile ID in the Profile ID field. The asset profile ID contains the default information for your asset.
- Verify the dates in the Trans Date and Acctg Date fields.
Typically, the transaction date represents the date that you actually acquired the asset and the accounting date represents the date that the transaction is posted to the general ledger. The accounting date is validated against the FIN_OPEN_PERIOD table to determine the period to which the transaction is posted.
The difference between the transaction date and the accounting date determines if any prior period depreciation needs to be calculated. For example, suppose that a computer was acquired and placed in service on March 15, 2001, but the information was not entered in PeopleSoft Asset Management until August 1, 2001. All general ledger periods prior to August are closed.
In this case, PeopleSoft Asset Management automatically calculates depreciation starting in March and posts it to the general ledger in August.
Note: You cannot enter an accounting date less than the transaction date.
- Enter an appropriate description of the asset in the Description field.
- Enter or select the appropriate location of the asset in the Location field.
- Use the Cost field to specify the asset cost. This is not the book value of the asset, but the cost accounted for in acquiring the asset.
- Enter or select appropriate values for the Chartfield string.
ctcLink requires the Oper Unit, Fund, Dept, Class, and State Purpose fields. The remaining fields are optional.
- If necessary, select the Add a new row button to add additional cost rows, which will break down the total asset cost into multiple transactions and enable you to specify cost for each transaction. For example, the cost of a computer can be broken down into the cost of monitor, CPU, and software, etc. You need to specify one or more rows of cost information before adding asset information.
- Select the Default Profile button. This button is used to capitalize the asset and create all the corresponding asset books.
- Select the Save button.
Note: The system assigns the Asset ID number (if you left the default as NEXT).
Use the Asset Basic Add page to define the business unit and asset indentification number for your new asset.
Navigation: Asset Management > Asset Transactions > Owned Assets
- On the Basic Add page, enter the desired information into the Business Unit field.
- Use the Asset Identification field to retrieve the desired Asset.
- Select the Search button.
- Use the Asset Acquisition Detail tab/page to add Interface information.
- Select the Interfaces Info link.
- Enter/Select the desired test data .
- Select OK/Save.