Amending asset

This page allows you to add a new asset tag to the asset or upgrade with the already existing tag. Tell me more.

Select the “Amend Asset” link at the bottom of the “Select Document Details” page.

The “Amend Asset Record” page appears.

The system displays the following in the “Document Information” group box:

Capitalization No.

The unique number generated by the system after amendment. This number is generated at the time of amending the asset based on the numbering type selected.

Enter the following field:

Numbering Type

Use the drop-down list box to select the numbering type for the login organization unit and the “Asset Capitalization” transaction type. The numbering types must have already been defined in the “Create Numbering Class” activity of the “Document Numbering Class” business component and must be in “Active” status. The system displays the first value by default on launch of the page.

The system displays the following:

Status

The status of the asset. It must be “Amended”.

Enter the following field:

Capitalization Date

The date on which the asset tags are capitalized (Date Format). Mandatory. The system updates the capitalization date to the in-service date.

Note: If the document type is “Hangar Work Order” or “Component Work Order”, ensure that the capitalization date is not earlier than the work order date.

The system displays the following:

Finance Book	The code identifying the finance book to which the asset entries are posted.
Tag Cost	The cost of the asset tag (Decimal).

Enter the following field:

Proposal No.

The number identifying the asset proposal (Alphanumeric, 18). The asset proposal entered here must be in ‘Active’ status, valid for the asset class selected and must have been defined in the “Create Asset Proposal” activity of the “Asset Planning” business component.

Help facility available

Note that if a capital document is selected for amending the asset cost, the system displays the proposal No from that document by default.

Process Parameter dependency: If the process parameter ‘Allow Capex Proposal # from different Finance Book in Asset Capitalization’ under Company Level, Fixed Asset Management and Asset Capitalization in the Set Finance Process Parameters activity of OU Parameter Setup is 0/No, the finance book of Proposal No must be the same as the finance book of the asset. However, if the process parameter is 1/Yes, you can specify Proposal # with a finance book different from that of the asset.

In-service Date

The date on which the asset is put in use (Date Format).

Ensure that the date specified in this field is within an open financial date

The system displays the capitalization date by default on launch of the page.

Enter the following field in the “Tag Information” group box:

Note: The details mentioned under in the “‘Tag Information” group box can be added only when a new tag is created.

The Tag properties of an existing tag cannot be modified in the “Amend Asset” activity.

Asset No.	The number identifying the asset to which the tag details must be added (Alphanumeric, 18). Mandatory. The assets must have been defined in the “Create Simple Asset” or the “Create Complex Asset” activity of this business component.
	Press the <Enter> key.
	The system retrieves the description based on the asset number specified.

The system displays the following:

Asset Description

The description pertaining to the asset.

Enter the following field:

New Tag

Check the box if you want to add the tag as a new tag for an asset.

Note: This field must not be selected, if you want to append the tag details to the already existing asset tag.

Note: For document type “Component Work Order” selected for capitalization, based on the set options ‘Enforce Object to Asset Mapping For – Aircraft/Component/Facility’ in “Account Group” business component, system will default the Asset No. – Tag No. fields with the values identified from “Maintenance Asset Tracker” business component.

Note: Leave this field unchecked, if the document type is “Component Work Order”.

Note: Ensure that the above field is checked, if the document type is “Make Work Order”.

The system displays the following:

Asset Class Code	The code identifying the asset class.
Asset Group Code	The code identifying the asset group.
Business Use %	The usage of the asset in the business (Decimal). The value must be between 0 and 100.

Enter the following fields:

Tag No.

The number identifying the asset tag (Alphanumeric, 18). Mandatory.

Press the <Enter> key.

The system retrieves the description, depreciation category and other tag related information based on the tag number specified.

Note: If the “New Tag” is checked, then enter a unique tag number.

If the “New Tag” is not checked, then enter the existing valid tag number.

Note: You cannot modify the “Asset No.” and the “Tag No.” getting defaulted on launch of the page, if the document type is “Component Work Order”.

Tag Description	The description of the tag (Alphanumeric, 40). Mandatory.
Salvage Value	The scrap value of an asset (Decimal). The salvage value must be greater than zero and lesser than the asset cost. The system displays 0 by default on launch of the page.

Note: Negative variance in an invoice can be capitalized by adjusting the cost of an existing asset-tag. The system validates that the asset-tag cost does not turn negative by capitalizing the negative variance. The system defaults the total of the capitalization amount of the selected document in the “Tag Cost” field.

Depreciation Category

Use the drop-down list box to select the depreciation category. The system lists the depreciation category defined in the “Create Depreciation Setup” activity of the “Asset Depreciation Setup” business component.

Useful Life (in mths)

The number of months for which the asset - tag can be put to use.

Note the following:

A month is considered as having 30 days to convert fraction of a month into days.

The value specified in this field must not be modified if “Depreciation Category” is set as the value for the parameter “Asset Life Managed at” in the Company Parameter Setup business component .

Useful Life Expires on

The date on which the asset life expires (Date Format).

If any value is specified in “Depreciation Category” or “In-service date” fields, the system defaults the date after adding the useful life in months to the defaulted in-service date. Example.

Ensure that no value is specified in this field if Useful Life (in months) is specified so that the system computes the expiry date.

The system leaves this field blank by default if either or the “Depreciation Category” and the “In-service date” is left blank.

Enter the following fields to capture the additional details of an asset tag:

Asset Location Code

The code identifying the asset location in which the asset are to be physically located (Alphanumeric, 20). The asset location must have been defined in the “Create Asset Location” activity of the “Asset Location” business component.

Help facility available

Inventory Cycle

The frequency in which the assets are to be verified. You can select from "Monthly", "Quarterly", "Half Yearly"," Yearly" or " Not Required". The system displays the first value by default on launch of the page.

The system displays the following:

Cost Center

The code identifying the cost center in where the assets are located.

Enter the following:

Inventory Cycle

Custodian	The supervisor of the asset (Alphanumeric, 20).
Model	The model number of an asset (Alphanumeric, 40).
Manufacturer	The company or the maker who manufactured the asset (Alphanumeric, 60).
Serial No.	The serial number of the asset (Alphanumeric, 18).
Warranty No.	The number identifying the warranty issued by the manufacturer (Alphanumeric, 18).
Barcode No.	The barcode number of the asset (Alphanumeric, 18).

The system displays the following fields in the "Tag Information" group box:

Analysis #	The analysis code of the asset.
Sub Analysis #	The sub analysis code of the asset.

Note: The proposal number is mandatory, if this business component has been mapped to the “Asset Planning” business component.

The asset class code to which the asset proposals have been defined must be the same asset class code displayed in this group box.

If the document type selected is “Work Order”, ensure that the proposal number entered for all the documents is the same.

Click the “Amend Asset” pushbutton to amend asset.

Note: You cannot amend the asset-tag for which 100% depreciation has been processed.

Note: Amendment cannot be done, at the same time, of the assets acquired based on different proposals.

The system generates a unique capitalization number on amending based on the numbering type.
The system updates the status of the asset tag to ‘’Active’’.It displays the status as ‘’Amended’’.
The system updates the tag cost to the utilized amount in the “Asset Planning” business component, if this business component is mapped to the “Asset Planning” business component.
The system updates the login ID of the user and the system date along with the amended asset details.
The system ensures that the transaction date is within athe open financial year and not a future date.
The system updates the capitalization amount at task level in the “Component Work Order” business component, If the document type is “Component Work Order”, “Project Work Order”, “Facility Work Order”, “Piece Part WO”, or “GR Inspection WO”.
The system updates the capitalization amount at proposal level in the “Hangar Work Order” business component, If the document type is “Hangar” in the current business component.
For a acquisition proposal selected on capitalization, the system updates the utilized amount in the “Asset Planning” business component, with the the tag cost capitalized.
For a acquisition proposal originally referred in the documents based on which the asset is capitalized, the system updates the committed amount as the difference between the committed amount and tag cost amount, if this business component is mapped to the “Asset Planning” business component..

Posting of entries

If the non-capital document is not checked, the system debits the asset account code that has been defined in the “Create Asset Account” activity of the “Account Rule Definition” business component and credits the CWIP account with the capitalised amount.
If the non-capital document is checked, then the system debits the asset account code that has been defined in the “Create Asset Account” activity of the “Account Rule Definition” business component and credits the account code with the difference in tag cost if new tag is not checked or with the tag cost if the new tag is checked.
For the document type “Component Work Order”, “Hangar Work Order” or “Repair Order”, if the maintenance type is “Overhaul”, then the system Debits the ‘’Capitalised Maintenance Expenses’’ and credits the ‘’CWIP’’ account.
For the document type “Component Work Order, “Hangar Work Order” or “Repair Order”, if the maintenance type is other than “Overhaul”, the system Debits the ‘’Asset Account’’ and credits the ‘’CWIP’’ account.

The system displays the following:

Created By	The login ID of the user who amended the asset.
Created Date	The date on which the asset was amended.

To proceed, carry out the following

Select the “Edit Asset Properties” link at the bottom of the page to select an asset and modify its additional properties.
Select the “Document Details” link at the bottom of the page to capture the document details if the asset tags are not based on any documents.
Select the “Attach Notes” link at the bottom of the page record observations pertaining to the asset selected for amendment.Select the “Accounting Information” link at the bottom of the page to view the account posting information.

Amending asset – An overview

This page allows you to add a new asset tag to the asset or upgrade with the already existing tag.

The addition of the tags to an asset or amending an existing tag is based a document reference. The system defaults the tag cost in the current page based on the document selected in the previous page.

You can specify the date on which the tags are capitalized. You can specify the numbering type based on which the number will be generated by the system after amendment. You can enter the asset number to which the tags are going to be attached. If you want a new tag to be added, you can check the “New Tag” check box and provide a unique number to it. If the tags are going to be appended to already existing tags, then you can specify the valid existing tag number to which you want to attach. This page also allows you to capture the additional details, for the new tag. If the tag is going to be attached to the already existing tags, then the scrap value and the in-service date must not be altered.

The system updates the status of the asset to ‘’Active’’ after amendment. The system updates the login ID of the user to the created by and the system date to the created date.