Adjust Assets (tffam8220m000)

Use this session to specify a range of assets to adjust after they are capitalized and are no longer directly editable. You record a mass asset adjustment to change the asset detail or the distribution information for a large number of assets at once.

You can enter values in one or more criteria fields, or leave them empty to perform the transaction on all assets in LN. You can make adjustments to only one company at a time. For each asset book, LN first checks whether an adjustment is possible. You can mass-adjust assets at any point after they have been capitalized and before they have been disposed of. To adjust multiple distribution lines, you must activate the Distribution Lines (tffam8527m000) session. You can invoke this session on the last form. LN makes sure that the period for journal entries is open for the book you are adjusting. LN records journal entries from mass adjustments by using the values in the assets' default General Ledger books.

For each mass adjustment you enter, LN applies your changes to the assets and books that match your transaction criteria, and it records the former values of each asset for historical purposes. This allows you to perform an inquiry to view all the changes made to an asset and its related books throughout its life. An adjustment can occur to one asset and all of its books, or to multiple assets and all related books. The adjustment is recorded as a transaction.

Note: Adjustments where assets are removed from or added to a vintage account will not result in depreciation transactions. If depreciation must be restated until the adjustment date or must run from the adjustment date, you must perform these actions manually.

You enter a date for each mass asset adjustment to determine when the change takes effect. Based on the values you adjust, LN must restate depreciation. For changes to owner code or business percentage, LN restates from the effective date. For changes to vintage/group account, or automobile or listed status, LN restates from the in-service date. LN does not restate depreciation for changes to location, distribution, quantity, or ITC method. However, depending on the effective date, LN can make an adjusting entry.

Note: The effective date you enter cannot be prior to the assets' in-service date.

Field Information

Selection

Selection Range

Asset Number

asset number and asset extension

You specify the range of asset for which you want to perform a mass adjustment.

Asset Number

asset number and asset extension

You specify the range of asset for which you want to perform a mass adjustment.

Asset Extension

asset number and asset extension

You specify the range of asset for which you want to perform a mass adjustment.

Asset Extension

asset number and asset extension

Category

If you want to adjust a assets that share a category, specify the range of categories associated with the assets.

Category

If you want to adjust a assets that share a category, specify the range of categories associated with the assets.

Subcategory

If you want to adjust a assets that share a subcategory, specify the range of subcategories associated with the assets.

Default Subcategory

If you want to adjust a assets that share a subcategory, specify the range of subcategories associated with the assets.

Group

You specify the range of asset group codes associated with the assets on which you want to perform a mass adjustment.

Group

You specify the range of asset group codes associated with the group of assets on which you want to perform a mass adjustment.

ITC Method

You specify the range of investment tax credit (ITC methods) associated with the assets on which you want to perform a mass transaction.

ITC Method

You specify the range of investment tax credit (ITC method) associated with the group of assets on which you want to perform a mass transaction.

Vintage/Group Account

You specify the range of vintage/group account associated with the assets on which you want to perform the mass adjustment.

Vintage/Group Acct

You specify the range of vintage or group account associated with the group of assets on which you want to perform the mass adjustment.

In Service Date

The From and To fields define a range of: in-service dates on which you want to perform the mass adjustment.

Default value

The current date.

Current Quantity

You specify the range of current quantities shared by the assets on which you want to perform the mass adjustment.

Other Selection Criteria

Automobile: You select certain criteria to perform the transaction. If you choose Selected, the transaction will be performed on those assets with this check box selected in the Assets (tffam1500m000) session. If you choose Not Selected, the transaction will occur on only those assets that do not have this check box selected in the Assets (tffam1500m000) session. If you choose N/A, the transaction will occur based on other criteria.
Listed: You select certain criteria to perform the transaction. If you choose Selected, the transaction will be performed on those assets with this check box selected in the Assets (tffam1500m000) session. If you choose Not Selected, the transaction will occur on only those assets that do not have this check box selected in the Assets (tffam1500m000) session. If you choose N/A, the transaction will occur based on other criteria.
New: You select certain criteria to perform the transaction. If you choose Selected, the transaction will be performed on those assets with this check box selected in the Assets (tffam1500m000) session. If you choose Not Selected, the transaction will occur on only those assets that do not have this check box selected in the Assets (tffam1500m000) session. If you choose N/A, the transaction will occur based on other criteria.

Adjustment Details

Adjustment Information

Adjustment Date

Date on which the mass adjustment takes effect.

Reason

Enter a reason code of the Adjustment reason type for the new adjustment transactions.

Reason codes are maintained in the Reasons (tffam6550m000) session.

You can look up the reason code of an adjustment transaction in the Adjustment - Details (tffam8520s000) session, a subsession of the Asset Book Transaction Inquiry (tffam8501m000) session.

Reason Code

The description or name of the code.

Suppress Journal Entries

If this check box is selected, journal entries are not created in the General Ledger module for this transaction.

Print Error Report

If this check box is selected, an error report is printed.

Options

Category

Select Replace to change the category of an acquired asset. If you select No Change, the category of the asset is not changed.

Category

The code of the category associated with the assets.

Note:

This field is enabled only if the Category field is set to Replace.
The adjustment date must be later than that of the existing asset transaction. This ensures that the changes applied to the asset are in a logical sequence and are updated in the report printed using the Print Invested Capital Overview (tffam8478m000) session.
If the category is replaced, LN updates the asset data and the related transactions in the Asset Book Transaction Inquiry (tffam8501m000) session. LN also updates the Transfer In and Transfer Out transactions are created for all locations in the location distribution and also Transfer Depreciation transaction is created, if applicable. Non-finalized transactions are created when they are not suppressed.

Subcategory

The subcategory linked to the category, associated with the assets.

Note:

This field is enabled only if Category field is set to Replace.
The adjustment date must be later than that of the existing asset transaction. This ensures that the changes applied to the asset are in a logical sequence and are updated in the report printed using the Print Invested Capital Overview (tffam8478m000) session.
The subcategory must be linked to the Category.
If the subcategory is replaced, LN updates the asset data and the related transactions in the Asset Book Transaction Inquiry (tffam8501m000) session. LN also updates the Transfer In and Transfer Out transactions are created for all locations in the location distribution and also Transfer Depreciation transaction is created, if applicable. Non-finalized transactions are created when they are not suppressed.

Group

Select Replace to change the group of an acquired asset. If you select No Change, the group of the asset is not changed.

Group

The code of the asset group associated with the assets.

Note:

This field is enabled only if the Group field is set to Replace.
If the asset group is replaced, LN updates the asset data and the related transactions in the Asset Book Transaction Inquiry (tffam8501m000) session.
When the asset group is changed during adjustments, Transfer In and Transfer Out transactions are created for all locations in the location distribution and also Transfer Depreciation transaction is created, if applicable. Non finalized transactions are created when they are not suppressed.

In Service Date

Select Replace to change the in-service date of an acquired asset. If you select No Change, the in service date of the asset is not changed.

In Service Date

The in-service dates on which the asset adjustment is performed.

Note:

This field is enabled only if the In Service Date field is set to Replace.
When the in-service date is replaced and Effective From is Effective Date, LN does not allow you to depreciate the asset. If the asset is already depreciated, you cannot replace the Effective From date. So, the last depreciation date must be blank and depreciation method must be None.
When the in-service date is replaced and Effective From is In Service Date, LN does not allow you to reverse the depreciation for the asset from the current in-service date onwards. This is applicable only for the depreciation method other than None.
If the in service date is replaced, LN updates the asset data and the related transactions in the Asset Book Transaction Inquiry (tffam8501m000) session.

Business Percentage

Select Replace to adjust the existing values in this field. If you select No Change, the value will remain the same.

Business Percent

Value with which you want to replace the current business percentage for the assets identified by the criteria selected. Only applicable to assets in Federal Tax and Other Tax books. No other books modify depreciation according to business use percent. If the business percent is equal to or greater than fifty percent, the ITC Method field can be set. If you do not want to change the business percentage, leave this field blank.

Default value

100 or Current value for the asset.

Vintage/Group Account

Your selection affects the status of the assets'vintage/group account) specified in the Account field.

The following options are available:

If you select Do Not Adjust, no changes to the assets' vintage or group account status occur.
If you select Remove, LN removes the assets from the specified ADR Vintage or MACRS Group account. The assets'accumulated depreciation, cost, and salvage value) are subtracted from the vintage/group account and depreciation is restated.
If you select Add, LN adds the assets to the vintage or group account specified.

Default value

Do not adjust

Owner

Select Replace to adjust the existing values in this field. If you select No Change, the value will remain the same.

Owner Code

Value with which you want to replace the current owner code for the assets selected. If you do not want to change the owner code, leave the field blank.

Default value

Blank

Account

Specify the ADR Vintage or MACRS Group account to which you want to add or remove the selected assets. When you add assets, they must have the same life, method, frequency, and depreciate-below-salvage setting in its ADR book as they are set for the selected account.

ITC Method

Select Replace to adjust the existing values in this field. If you select No Change, the value will remain the same.

ITC Method

Indicates whether the asset is eligible for an investment tax credit (ITC)), and how that credit must be applied. If the asset is eligible, you can select Reduce Basis to use the credit to reduce your taxable income, or you can select Reduce Credit to reduce your tax due.

Default value

None

If the asset is not eligible to receive an investment tax credit, you can set the ITC method to None. You must select None if one of the following applies:

The business percent for the asset is less than 50
The owner code is Third Party, Capital Lease, or Operating Lease
The Listed check box is selected for the asset

Auto

Select Replace to adjust the existing values in this field. If you select No Change, the value will remain the same.

Auto

If you select Yes, the asset will be adjusted to reflect that it is an automobile. Some types of automobiles must be identified as such for United States federal tax reporting purposes. If you select No, the asset is not an automobile.

Listed

Select Replace to adjust the existing values in this field. If you select No Change, the value will remain the same.

Listed

If you select Yes, the asset will be adjusted to listed property and depreciates as long as it still has cost left to depreciate, regardless of life. United States Federal tax regulations limit the amount of depreciation allowed for listed property. If you select No, the asset is not listed.

Asset Distr. By

If Quantity is selected, assets distributed by quantity are adjusted. Each adjustment amount entered will be a portion of the asset's total quantity. Also, the Distribution Method field in Distribution Line (tffam8127s000) will be by quantity.

Default value

If the asset currently displayed was distributed by quantity, the default is Quantity; otherwise, it is Percent.

If Percent is selected, only assets distributed by percentage will be adjusted. Each adjustment amount entered will be a percentage of the asset's cost. Also, the Distribution Method field in Distribution Line (tffam8127s000) will be by percentage.

New

Select Replace to adjust the existing values in this field. If you select No Change, the value will remain the same.

New

If you select Yes, the asset will be adjusted to reflect that it is new. If you select No, the asset is used.

Distribution

Location: You specify the location account associated with the assets on which you want to perform a mass adjustment. You might have up to eight location segments set up which define the physical location of an asset.