Express Add

Purpose: Use this document as a reference for adding an asset using Express Add in ctcLink.

Audience: Financial Asset Manager, Facilities Asset Manager

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

  • ZZ 1099 Processing
  • ZZ Asset Entry

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

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.

To add a new location, please submit a Service Desk ticket.

Prepare and Gather Data

  1. It is suggested that colleges set up a method to inform the person entering asset data into ctcLink when an asset has been purchased/acquired and placed into service.
  2. Gather documents/information regarding AM purchase orders, invoices, vouchers, etc. to obtain data that needs to be entered.
  3. Use query CTC_AM_ASSET_CLASS as a reference to view the entire list of Asset Classes available to enter.
  4. Use query CTC_AM_LOCATION_TBL to see the locations at your college.
  5. Select the Excel to CI - Locations link to obtain and complete template to add new locations, as needed.
  6. Email completed location template to [email protected] or submit a service desk ticket.

Adding an Asset Using Express Add

If the asset was acquired using governmental funds (those Funds not beginning with a '4' or a '5') then always enter Fund 997 when creating the asset using Express Add and please refer to QRG Adding a Federally Funded Asset Using Express Add.

Navigation: Asset Management > Asset Transactions > Owned Assets > Express Add

  1. The Asset ExpressAdd page displays. Enter or lookup the Business Unit.
  2. Select the Add button.

Do not change the Asset Identification field from "NEXT" for this can cause issues.

Add new value
  1. The Cost / Asset Information page displays.
  2. In the Asset Information section, enter the following valid information:
    1. Enter Profile ID - this number should be the same as the Asset Class.
    2. Enter a meaningful Description.
    3. Use the lookup tool to select the Location. If the Location you need is not visible by using the search tool, please complete the Location Upload Template.
    4. Enter the Tag Number - this must be a unique value or not used in Asset Management previously.
    5. Enter the Transaction Date - this date is the In-Service Date of the asset.

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 ctcLink Asset Management until August 1, 2001.  All general ledger periods prior to August are closed.  In this case, ctcLink Asset Management automatically calculates depreciation starting in March and posts it to the general ledger in August.

Asset Information section

Note: You cannot enter an accounting date that is prior to the transaction date.

  1. In the Asset Cost Information section, add the following valid field values:
    1. Cost - 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.
    2. Category - use category selections: BLDG, CIP, EQUIP, IMPRV, INT-D, LAND, LIBRE, and S-A only.
    3. Cost Type - select “P" for Proprietary Funds if the fund on the asset begins with a “4” or a “5”. For all other assets, select “G" for Governmental Funds.
  2. Enter or select appropriate values for the Chartfield string. Chartfields required are Oper Unit, Fund, Dept, Class, and State Purpose (is always “N”).
    1. If the Fund begins with a “4” or a “5”, use the Fund and Class on the Chartstring.
    2. All other Funds must be entered as Fund “997” and Class “211”.
  3. Select the Save button to create an Asset ID number.

ctcLink requires an Asset to have a Cost Type and Chartfields to contain the Oper Unit, Fund, Dept, Class, and State Purpose Charfields. The remaining fields are optional.  

Asset Cost Information section

Asset Additional Information Section

  1. Select the Asset Additional Information drop-down arrow to display/collapse this section.
  2. Note that some of the field values auto-populate. If necessary, select Add a new row 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.
  3. If applicable, optional to add additional information, such as the CAP# or Serial ID.
  4. If applicable, select the Taggable Asset checkbox.
  5. If the asset is a parent or child asset, use the Parent/Child drop-down arrow:
    • If a parent asset, select “Parent”.
    • If a child asset, select “Child”. Then use the Parent ID lookup to select the Parent ID.
  6. Select the Save button to save changes.
Asset Additional Information section

Video Tutorial

The video below demonstrates the process actions described in the steps listed above. There is no audio included with this video. Select the play button to start the video.

View Tutorial via Panopto

View the external link to Express Add. This link will open in a new tab/window.

0 Comments

Add your comment

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.