Adding assets from Lawson Project Accounting

Before you can add asset records from Project Accounting, you must create the interface records from within Project Accounting. After you release the activity in Project Accounting, the application writes the interface records that you can review, change, if necessary, and then release to add assets to Asset Management.

Procedure flow: Adding assets from Project Accounting

Add assets from Project Accounting

  1. In Project Accounting (AC):
    1. Define asset information for the activity using Activity Asset (AC10.3).
      Note: You can access AC10.3 using the AM button on AC10.1.

      Specify this information:

      Addition Template

      Select the addition template you want to use.

      Quantity

      Specify a value of at least one.

      Combine

      Specify a one-word description (eight characters) to specify that this distribution data needs to be combined with the other interfaced accounts payable data (that have the same Combine indicator) to create a new asset.

      Combining multiple interface records

    2. Release activities using Asset Management Interface (AC160) based on an Activity Group or up to 6 Activities, or an Activity list.

      For more information, see the Project Accounting User Guide.

  2. Access Mass Addition (AM115).
  3. Review interface records by running AM115.
    1. Set the Release option set to N (No).
    2. Set the Source set to A (Activity).
    3. To run the report for a more specific set of interface records. Use these guidelines to specify field values on the Selection Options and Additional Options tabs.
  4. Use Single Activity Interface (AM15.3) or Combine Activity Interface (AM15.4) to revise interface records before creating the assets.

    Specify this information:

    Asset tab

    Use this tab to maintain detail information about the asset associated with the invoice.

    Item tab

    Use this tab to maintain detail information about asset items.

    Template Detail Override tab; Template Category Override tab

    Use these tabs to override template default information, or assign a different template to am asset.

    Combine

    Specify a one-word description (eight characters) to specify that this distribution data needs to be combined with the other interfaced records to create a new asset.

    When are asset records combined?

    Compute

    Because the compute option calculates depreciation in situations when the depreciation needs to be brought up to date with the current period, this setting is important when you add an asset that has an in-service date that is before the current, open period.

    If you do not want to update the asset's YTD or LTD depreciation to the current period at this time, set Compute Option to N.

    If you do want to update asset's YTD or LTD depreciation to the current period at this time, set Compute Option to Y.

    Adding assets with previous in-service dates

    Hold

    Change the default value of N (No) to Y (Yes) to hold the information in the interface; as hold on any record prevents that record from becoming an asset until the Hold value is set to N (No).

    Split

    Single activity split (AM15.3):

    To split a distribution line with a quantity higher than one into multiple assets, select Yes.

    Combine activity split (AM15.4):

    • Select Derive to create multiple lines with unique combine codes.

    • Select Copy to create multiple lines with the same Combine code.

    Splitting interface records

  5. Release interface records.

    The interface records must be released from the interface file into regular Asset Management files. After they are released, the records are deleted from the interface file. They become newly added assets The new assets then must be released in the Asset Management application in the same way as assets added manually or by quick addition.

    There are two release options:

    Release Method Options
    Batch

    On AM115:

    1. Set the Release field to Y (Yes)

    2. Set the Source field to A (Activity)

    3. The Compute field determines whether the batch release calculates YTD and LTD depreciation for the assets being added that have in-service dates before the current period. There is a compute field on the Single Invoice Interface (AM15.1) and the Combine Invoice Interface (AM15.2) which determines the compute action for individual assets. If the asset compute setting on AM15.1 or AM15.2 is different from the setting on AM115, the compute is assumed to be set to Y. Adding assets with previous in-service dates

    4. Set Posting Entries to Y to accept journal entries created for the newly added assets.

    5. In the Posting Date field, specify a date that is the posting date for the journal entries created for the newly added assets.

    6. To run the report for a more specific set of interface records, use the selection options on the Selection Options or Additional Options tabs.
    Online

    On AM15.3, use the Release line action to release each line item. Interface records that are released are assigned a different asset number for each detail line.

    Note: Do not use this form to release combined interface records (records that share an identical value in the Combine field). If you use this form, each interface record is released separately and creates a separate asset. To release combined records as a single asset, use AM15.4 or AM115.
    On AM15.4, use the Release form action.

    All interface records that meet the selection criteria and that are not on hold, are released.

  6. Verify the accuracy of interface records by running the Addition Report (AM220).
    1. Specify N in the Release field to produce a report of added assets not yet released.
    2. To view detail of individual asset records, select the Detail value in the Totals field.
      Note: You can change or delete assets before adding the assets. Changes made here will not affect the records in Project Accounting.
    3. Select the Additional Options tab to filter the report by creator and/or creation date range. When you run the report, only criteria matching the Creator ID and Creation Date range values is displayed.
  7. Change or delete the asset information, if any information is incorrect, using Additions and Adjustments (AM20.2), Items (AM20.3), or Books (AM20.4). To make an asset part of the physical inventory:
    1. Request and print the bar-code labels that you need, using Asset Bar Code Labels (AM153).
    2. Affix a bar code to each item and note which bar code you use for which item and asset.
    3. Select Y (Yes) in the Inv (Inventory) field of AM20.2.
    4. Specify the bar code and location detail in the appropriate fields of Items (AM20.3).
  8. Release the added assets.
    Release Method Options
    Batch Run Processing Release (AM170). This will also transfer journal entries to General Ledger.
    Online Use the Release form action on: AM20.2, AM20.3, or AM20.4
    Note: This procedure produces journal entries. Depending on the procedure and process you are performing, these entries are transferred to Lawson General Ledger, Strategic Ledger, or Project Accounting.

Optional procedure: Mass split interfaced records

To Use
Mass split records interfaced from another application

Mass Distribution Split (AM117).

Note: This program functions much in the same way as Mass Addition (AM115), except that it applies only to the records that it splits.

Splitting interface records

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