Creating assets using asset template

You can also click the Create Asset From Template button on the Unreleased, Released, In Progress, and Disposed tabs.

Asset Template

Select the name of an asset template. The template is used for multiple data items that are associated with a new asset.

Company

Select the name of the company to which the asset is assigned. If this field is blank, then the lease company is used as the asset company.

Lease Company

Select the lease company for a leased asset. If you are accessing this form by the Assets button on Lease Addition and Adjustments, then the company and lease number are displayed.

Lease

Select the lease for an asset. If you are accessing this form by the Assets button on Lease Addition and Adjustments, then the company and lease number is displayed.

Asset Description

Provide the description for the asset. If this field is blank, then the template description is used as the asset description.

Tag Number

Specify the tag number for the asset. This tag is an identifier that is assigned to an asset.

Asset Category

Select a category of the asset.

Currency

After you select Create Asset from Template using the Assets button on Lease Addition and Adjustments, the lease currency is the default. The asset and lease currency must be the same.

Asset Location

Select a new or different location for the asset. This field is required if you track the asset in the physical inventory.

Asset Type

You can override the asset type and subtype that is the default from the template. Use the Type application to specify an asset type and subtype.

Asset Group

Select the name of an asset group.

Asset Account Group

Override the account group for the asset. If this field is blank, then the template account group is the default. If no account group exists for the template, then this field is required.

Asset Dimension Group

Select a dimension group for the asset.

Asset Division

Select a new or different division for the asset.

Default Transaction Dimensions

Specify the account information in the transaction dimensions.

Projects

Select a new or different project to track depreciation expense. Specify a project in this field to override the depreciation expense on the asset type.

Asset Owner

Select the name of the person who is responsible for keeping track of the asset in physical inventory.

Simulated

Select this check box if the asset is simulated. This field indicates whether the asset is a simulated record or a representation.

Work In Process

Select this check box if the asset is considered a work-in-proess. If this field is blank, then the work-in-process status from the template is the default.

Tax Exempt

Select this check box if the asset is tax exempt. If this field is blank, then the tax exempt status from the template is the default.

Used

Select this check box if the asset is used. If this field is blank, then the Used status from the template is the default.

Include In Physical Inventory

Select this check box if the asset is included as a part of physical inventory. This value is used from the asset type and can be overridden after the asset is created.

Compute Option

If you select the check box, then the current year depreciation, including any prior period's depreciation, is calculated from the in-service date. It is also charged to the current period.

Item Number/Description

Specify at least one item number and description for the asset.

Source Internal/External

Specify the account information for the source internal and external.

Purchase Date

Select the date that the asset is purchased. This purchase date can be different from the in-service dates for the depreciation books that are used.

Purchase Quantity

Specify the number of units that contains the asset item.

Model Number

Specify the model number of the item.

Serial Number

Specify the serial number of the item.

Item cost

Specify the unit cost of the item. If the asset is depreciable, then this field is required. If the asset is non-depreciable, then you can specify a cost to use for tracking purposes.

Item tax

Specify the paid tax on the item.

Bar Code

If the item is a part of the physical inventory, then specify the bar code for the item.

Location Detail

Select the location detail of the item. You can specify location with up to three detail levels using Location Detail.