9.2 Recategorizing Assets

Purpose: Use this document as a reference for recategorizing asset information in ctcLink.

Audience: Financial Asset Manager, Facilities Asset Manager.

To recategorize an asset, you change the asset category or cost type.  For example, you might need to recategorize an asset because you assigned an incorrect asset category or cost type during asset entry.  Perhaps you created a new category or cost type to which you want to transfer existing assets.  Recategorizing assets affects depreciation; therefore, you must run the depreciation calculation and accounting entry creation processes.

Recategorizing Asset Information

Navigation: NavBar > Navigator > Asset Management > Asset Transactions > Financial Transactions > Cost Adjust/Transfer Asset

  1. The Asset Cost Adjust/Transfer page displays.  Use it to enter search criteria for the asset:
    1. If it did not default, enter or select the appropriate business unit in the Business Unit field.
    2. Enter the asset information in the Asset Identification field.
    3. Enter any other information that you have and then select Search.
Asset Cost Adjust Transfers search page
  1. The Main Transaction page displays.  Use it to perform a financial transaction on an asset:
    1. Use the Action drop-down button to select the ‘Recategorize’ option.
    2. Select GO!.
Main Transaction page
  1. The Cost Information page displays.  Use it to enter or adjust the Category information:
    1. Use the Category field to define the category assigned to this asset.  Category assignment affects depreciation.
    2. Select Save.

Note: If the asset is a Parent-Child asset and you are recategorizing the ‘Parent’ asset first, you will receive a warning message upon saving that “Child assets have been left unselected. Are you sure you want to continue?” If necessary, you should go to the Child Asset tab and make the same recategorization to the ‘Child’ asset and save again before exiting.

Cost Information page
  1. Next, navigate to the Cost History List page to review the asset cost history information.

Reviewing Asset Cost History

Navigation:  NavBar > Asset Management > Asset Transactions > History > Review Cost

  1. The Cost History List page displays.  Use it to view the history of an asset's transactions.   Select Cost History Detail.

Note: The page displays the total quantity and cost adjusted for this asset. The quantity and cost are adjusted in all cost rows.

Cost History List page
  1. The Cost History Detail page displays.  If necessary, select show next row button until you reach the row with Trans Type‘RCT - Asset Recategorization.’
Cost History Detail page
  1. Process complete.


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