Creating a Fixed Assets Record

Asset Number

Specify a code to use to identify the fixed asset.

Description

Specify a description for the fixed asset.

Asset Type

Select the type of fixed asset:

• Regular: Any fixed asset other than real estate. Applies to most fixed assets.
• Land: Real estate.

Note: Depreciation is not calculated for Land assets.

Status Code

Select the status of the asset:

• Inactive
• Active
• Disposed
• New

Note: This field automatically updates to Disposed when the asset is disposed of.

Rental Asset

Select this check box if the fixed asset is available for rent. When an asset status is changed to Disposed, this check box is automatically cleared and disabled.

Class Code

Select a class code from the Fixed Assets Class Codes form.

Department

Select the department in which to assign the asset.

Non-Tracked Location

For an asset that is not associated with a unit, specify a location for the asset. For an asset that is associated with a unit, use this field to specify additional information about the location.

Date to Start Depreciation

Optionally, select the date on which you want to start depreciation. The current date is the default value. You should update this field when bringing in fixed assets from another system or a manual system.

Unit

If applicable, select the unit the fixed asset is associated with.

Item

Select the item the asset is related to. If the asset is associated with a unit, select the units item.

If you associate the asset with a unit, a message is displayed upon saving that the unit will be converted to an asset.