Additions and Adjustments (AM20.2)

Use Additions and Adjustments (AM20.2) to add an asset manually or modify existing asset information. This program is required if you do not use addition templates or if you add more than seven items.

Process at a Glance

(This step) Define asset header and detail information.
Define asset item information using AM20.3.
Assign asset books using AM20.4.
Access, change, or delete system-prompted journal entries on AM20.5.
(Optional) Verify assets using AM220 and modify as needed using steps 1 though 4.
Release assets in batch (using AM170) or individually (using AM20.2, AM20.3, or AM20.4).

More Information

If you do not enter an accounting unit group, you must enter a default accounting unit to be used for all accounts defined for the asset type and account group you associate with the asset. If you enter an accounting unit group, but some of the fields in the accounting unit group are left undefined, you must also enter a default accounting unit group to be used for those undefined fields.

For asset class depreciation, proper implementation is critical to avoid over-depreciation. If you use the class depreciation solution, you must strictly follow the one-on-one correlation between a type and the set of General Ledger accounts used by an asset class. For instance, you should not set up class-depreciated assets that use the same asset account (that is, company, accounting unit, account) but have different accounts for depreciation expense and accumulated depreciation. Thus it is incorrect to set up accounting unit groups that leave the depreciation expense or accumulated depreciation accounting units blank, allowing users to send depreciation amounts to multiple accounting units and accounts.

When you first add an asset, the program automatically guides you through the process by navigating to the appropriate form. When you modify an asset, you must open the appropriate forms; only AM20.5 will be prompted automatically.

Click the Attributes button to open Asset Attributes (AM23.1) and assign asset attributes to an existing asset. Click the Repairs button to open Repairs (AM20.6) and define repair information for an existing asset. Chose the Projections button to open Projections (AM20.7) and view depreciation projections for a book and company. AM20.7 is a stand-alone program that runs independently of any asset.