Asset Additions, Adjustments, Recategorize, and Transfers

Purpose: Use this document as a reference for adjusting asset information and reviewing asset cost history in ctcLink.

Audience: Financial Asset Manager, Facilities Asset Manager.

You must have at least one of these local college managed security roles:

  • ZZ Asset Processing

If you need assistance with the above security roles, please contact your local college supervisor or IT Admin to request role access.

You can perform these actions on assets from the Main Transaction page:

  • Addition - Only used to add additional chartstrings to an asset. Adds a line with transaction type ADD.
  • Adjustment - To adjust or change the cost or quantity of an asset. Adds a line with transaction type ADJ.
  • Fixed Price MarkUp - DO NOT USE. NOT APPLICABLE TO GOVERNMENTAL ACCOUNTING.
  • InterUnit Transfer - DO NOT USE. NOT APPLICABLE TO CTCLINK SET UP FOR AM.
  • Recategorize - Changes an asset category or cost type. Adds a line with transaction type RECAT.
  • Revaluation - DO NOT USE. NOT APPLICABLE TO GOVERNMENTAL ACCOUNTING.
  • Transfer - Use to correct a chartstring or to transfer an asset within the same business unit.
Locating your In Service Date or Transaction Date

Follow these steps to access the "In Service Date."

Important: You must use the In-Service Date as the Transaction Date to correct an asset’s information:

  1. Navigate to Asset Management > Search for an Asset.
  2. Enter the search criteria and select the Search button.
  3. Select the radio button of the asset you want to change/correct.
  4. Use the drop-down box to select the Define Tax/Depr Criteria. Select the GO! button.
  5. The Define Tax/Depreciation page displays. Copy or write down the "In Service Date" to use as the Transaction Date.
Image how to lookup the Transaction Date or In service date

Video Tutorial

The video below demonstrates the process actions described in the steps listed above. This video includes audio and closed captioning.  Select the play button to start the video.

Video Tutorial Via Panopto

View the external link to Locating your In Service Date or Transaction Date. This link will open in a new tab/window.

Asset Additions

Note: If the asset you are adjusting is a parent or child asset, you will receive a message letting you know that there is an associated asset. Select OK to acknowledge the message.

Only use “Additions” to add a CHARTSRING to an asset. Use “Adjustments” to change the cost or the quantity of an asset.

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

  1. The Asset Cost Adjust/Transfer Asset page displays. Enter or lookup search criteria for the asset:
    1. Enter the Business Unit.
    2. Optional to utilize additional search criteria, such as Asset ID or Tag Number, to narrow your search and/or refine results.
  2. Select the Search button.
  3. The Main Transaction page displays. The Transaction and Accounting Dates default to the current date. Update the Transaction Date to the In Service Date to make corrections. If you are unsure of the Transaction Date, please refer to Locating your In Service Date or Transaction Date.
  4. Use Additions to add another chartstring to the asset only. Select the Action drop-down button to select the “Addition” button.
  5. Select the “GO!” button.
Cost Adjust/Transfer Asset page with the Transaction Date and Accounting Date entered. The Copy Changes to Other Books checkbox is selected. The Rate Type is populated with "CRRNT." The Transfer other books and Adjust other books by fields are populated with "Amount." The Include Convention field is populated with Exclude Convention. The Action field is populated with Addition.
  1. The Cost Information page appears. 
  2. Select the “+” sign on the right side of edit cost information.
  3. In this second “box” of Edit Cost Information:
    1. Leave the quantity as zero.
    2. Enter the Cost associated with the new chartstring, Category, and Cost Type.
    3. Enter the entire chartstring - Oper Unit, fund, Approp, Dept, Class, & State Purpose = “N”
  4. Select the Save button to save changes.
Cost Adjust/Transfer Asset page on the Cost Information tab.

Video Tutorial

The video below demonstrates the process actions described in the steps listed above. This video includes audio and closed captioning.  Select the play button to start the video.

Video Tutorial Via Panopto

View the external link to Asset Additions. This link will open in a new tab/window.

Asset Adjustments

To "Adjust" an asset, you make changes to the cost or quantity of an existing asset.

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

  1. The Asset Cost Adjust/Transfer Asset page displays.  Enter or lookup search criteria for the asset:
    1. Enter the Business Unit.
    2. Optional to utilize additional search criteria, such as Asset ID or Tag Number, to narrow your search and/or refine results.
  2. Select the Search button.
  3. The Main Transaction page displays. The Transaction and Accounting Dates default to the current date. Update the Transaction Date to the In Service Date to make corrections. If you are unsure of the Transaction Date, please refer to Locating your In Service Date or Transaction Date.
  4. Use Adjustments to change the cost or quantity of an asset. Select the Action drop-down button to select the ‘Adjustment’ option.
  5. Select the GO! button.

Note: If the asset you are adjusting is a parent or child asset, you will receive a message letting you know that there is an associated asset.  Select OK to acknowledge the message.

select Action of Adjustment and select GO!
  1. The Cost Information page displays. Use it to enter or adjust the cost information required by the transaction that you initiated from the Main Transaction page:
    1. There are two ways to change the cost:
      1. Incremental Method - Enter the $ amount you want to add to or subtract from the existing $ amount in the Cost field on the “Adjust All Rows by” line (for example, adding an invoice of $1,200). Select “Apply”.
        1. The system automatically adjusts the values in the Cost field by the amount entered into Cost on the Adjust All Rows By line.
      2. Total Cost Method - Enter the total cost of the asset in the Cost box to the right of Quantity.
  2. If necessary, adjust the quantity in the Quantity field.
  3. Select the Save button to save changes.
Add cost and select apply
total cost adjusts

Next, review the asset information using the QRG View Asset Cost History.

Video Tutorial

The video below demonstrates the process actions described in the steps listed above. This video includes audio and closed captioning.  Select the play button to start the video.

Video Tutorial Via Panopto

View the external link to Asset Adjustments. This link will open in a new tab/window.

Recategorize Assets

"Recategorize" allows you to change the "Category" and/or the "Cost Type" of an asset.

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

  1. The Asset Cost Adjust/Transfer Asset page displays.  Enter or lookup search criteria for the asset:
    1. Enter the Business Unit.
    2. Optional to utilize additional search criteria, such as Asset ID or Tag Number, to narrow your search and/or refine results.
  2. Select the Search button.
  3. The Main Transaction page displays. The Transaction and Accounting Dates default to the current date. Update the Transaction Date to the In Service Date to make corrections. If you are unsure of the Transaction Date, please refer to Locating your In Service Date or Transaction Date.
  4. Select the Action drop-down button to select the‘Recategorize"option.
  5. Select the GO! button.
Select Recategorize and select GO!
  1. The Cost Information tab page displays. Select or lookup the correct Category or Cost Type of the asset.
    1. Cost Type must be “Proprietary” for funds that begin with a “4” or a “5”. All other assets should be Fund 997, Class 211, and cost type “Governmental”.
  2. Select the Save button to save changes.
select new category or cost type

Next, review the asset information using the QRG View Asset Cost History.

Video Tutorial

The video below demonstrates the process actions described in the steps listed above. This video includes audio and closed captioning.  Select the play button to start the video.

Video Tutorial Via Panopto

View the external link to Recategorize Assets. This link will open in a new tab/window.

Transfer Assets

"Transfer" an asset to change or update the asset's ChartString, or when an asset moves to a different department.

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

  1. The Asset Cost Adjust/Transfer Asset page displays.  Enter or lookup search criteria for the asset:
    1. Enter the Business Unit.
    2. Optional to utilize additional search criteria, such as Asset ID or Tag Number, to narrow your search and/or refine results. Select the Search button.
  2. The Main Transaction page displays. The Transaction and Accounting Dates default to the current date. Update the Transaction Date to the In Service Date whenever correcting any part of a chartstring. If you are unsure of the Transaction Date, please refer to Locating your In Service Date or Transaction Date.
  3. Select the Action drop-down button to select the ‘Transfer’ option.
  4. Select the GO! button.
select transfer
  1. The Cost Information tab page displays. Update the ChartFields values as needed.
  2. Select the Save button to save changes.
Update Chartfields as needed and select Save

Next, review the asset information using the QRG View Asset Cost History.

Video Tutorial

The video below demonstrates the process actions described in the steps listed above. This video includes audio and closed captioning.  Select the play button to start the video.

Video Tutorial Via Panopto

View the external link to Transfer Assets. This link will open in a new tab/window.

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