Modifying asset properties

This page allows you to modify the properties of an asset. You can also default the code identifying the asset group, the custodian of an asset and the code identifying the asset location for all the assets in the multiline. This page allows you to modify the additional details of an asset like the location code, serial number etc. The system saves all the modified details.

Select the “Edit Asset Properties” link at the bottom of the “Select Asset” page.

The “Edit Asset Properties” page appears.

Enter the following fields in the “Default” group box to default the value in the multiline for ease of data entry:

Asset Group Code	The code identifying the asset group (Alphanumeric, 6). Mandatory. The asset group must be in ‘Active’ status and defined in the “Create Asset Group” activity of the “Asset Type Definition” business component. Ensure that the asset group entered here is valid for the selected asset class, if the “Level at which assets are mapped to Asset Group” is set as “Asset Class” in the “Company Parameter Setup” business component.
	Help facility available.
Custodian	The name of the supervisor of assets (Alphanumeric, 77).
Insurable Value	The value for which the asset must be insured.
Inspected Date	The date on which the asset tag was inspected
Inventory Status	Use the drop-down list box to update the status of the asset tag as “OK”. The system lists the options, “OK”, “To Retire”, and “To Retire-Partial. Inventory status updation from “To retire” / “To retire-partial” to “OK” alone is supported. No Asset tag can be marked for retirement in this activity.
Asset Location Code	The code identifying the asset location in which the assets 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.

Click the “Default Values” pushbutton to default the value in the multiline.

Note: The default values will be displayed in the multiline against all the asset and the tags.

The system displays the following:

Asset No.

The number identifying the asset

Modify the following fields in the “Asset Information” multiline if required:

Effective From	The date from which modifications can be made on the asset – tag. Mandatory Note that modifications to tag properties can be made only when there is active capitalization on the asset-tag on that date Ensure that the date modified in this field is a capitalization date of asset-tag that is not reversed. By default the system displays the latest capitalization date, if there is no active capitalization of asset – tag the system displays the date of the reversal document
Asset No.	The number identifying the asset (Alphanumeric, 18). You can enter the number in full or specify it partially using the “*” character. The system retrieves the assets whose number is similar to the value entered here.
Asset Description	The description pertaining to the asset number (Alphanumeric, 40). Mandatory.
Asset Group Code	The code identifying the asset code (Alphanumeric, 32). The asset group must have been defined in the “Create Asset Group” activity of the “Asset Type Definition” business component.
	Help facility available.
Analysis #	The analysis code for which the asset is created. Help facility available.
Sub Analysis #	The analysis code for which the asset is created. Help facility available.

The system displays the following:

Tag No.

The number identifying the asset tag.

Modify the following fields if required:

Tag Description	The description of the tag (Alphanumeric, 40). Mandatory.
Useful Life expires on	The number of months for which the asset - tag can be put to use. Note that a month is considered as having 30 days for this purpose
Asset Location Code	The code identifying the asset location where the assets are physically present (Alphanumeric, 20). The asset location must have been defined in the “Create Asset Location” activity of the “Asset Location” business component.
	Help facility available.

Note: If the asset location code has already been defined, then the location must not be modified.

Business Use %	The usage of the asset in the business (Decimal). The value entered here must be between 0 and 100.
Salvage Value	The scrap value of an asset (Decimal). The salvage value must be greater than or equal to zero and lesser than or equal to the asset cost. The system displays 0 by default on launch of the page.

Note: The business use and the salvage use must not be modified, if the depreciation has been processed.

Manufacturer	The company or the maker who manufactured the asset (Alphanumeric, 60).
Barcode No.	The barcode number of the asset (Alphanumeric, 18).
Serial No.	The serial number of the asset (Alphanumeric, 18).
Warranty No.	The number identifying the warranty issued by the manufacturer (Alphanumeric, 18).
Model	The model number of an asset (Alphanumeric, 40).
Custodian	The name of the person who is supervisor of the asset (Alphanumeric, 20).
Insurable Value	The value for which the asset must be insured.
Inspected Date	The date on which the asset tag was inspected
Inspected Status	Use the drop-down list box to update the status of the asset tag as “OK”. The system lists the options, “OK”, “To Retire”, and “To Retire-Partial. Inventory status updation from “To retire” / “To retire-partial” to “OK” alone is supported. No Asset tag can be marked for retirement in this activity.
Rem. Useful Life (In Mths)	The remaining number of months in which the asset life expires. Calculation Expiry date of the asset - Remaining useful life as on
Rem. Useful Life as on	The date in which the remaining useful life of the asset is given in months. Note that the system defaults the last date upto which depreciation is processed and confirmed on this asset-tag. If there are no confirmed depreciation runs on this asset-tag then, the system displays the earliest in-service date of the asset-tag

Check the box in the “Select” column of the multiline to select the asset to change its properties.
Click the “Edit Asset Properties” pushbutton to modify the asset properties for an authorized asset.

To proceed, carry out the following

Select the “Attach Notes” link at the bottom of the page to record observations or comments regarding the modification of the capital journal.