How To Record Asset Changes

The Change Asset program is used to change one or more of the following for an asset:

  • Class Code

  • Item Cost

  • Depreciation Start Date

  • Asset Life

  • Salvage Value

  • General Ledger Information

If you need to record the transfer of an asset to another locations use How to Record an Asset Transfer

If you need to record an asset that has been disposed, use How to Record an Asset Disposal.

Change Asset

NAVIGATION: ACTIVITIES menu > Change Asset

  1. Leave Transaction # blank

  2. Enter or select the Entry Date.  This should be today's date.

  3. Enter the Change Date.  This is the effective date for this change.

  4. Asset Selection: Enter or select the Asset Number.  The Description and Item Cost for the asset will be displayed.

  5. Asset Changes: New Values for information that is not changing may be left blank.  Enter or select New Values for information that is changing for one or more of the following:

    1. Class Code

    2. Item Cost

    3. Dep Start Date

    4. Life Years

    5. Life Months

    6. Salvage Value

  6. General Ledger Changes: If general ledger information does not need changed, leave this area blank. When changing general ledger information an entire line or lines should be entered, not just the new information.  

    1. Enter the Percent (100.00 percent is used for most assets)

    2. Enter the Amount

    3. Enter or select an Asset Account

    4. Enter or select a Depreciation Account

    5. Enter or select an Accum Dep Account

    6. Enter or select a Gain/Loss Account

  7. Suggested GL: If the suggested or entered general ledger information will not be interfaced to the general ledger, this area may be skipped.

    1. Check the Interface to General Ledger box if the suggested and/or entered general ledger transaction lines are to be sent to the Financial module for interfacing.

    2. Review all suggested general ledger lines

    3. Enter additional general ledger lines to bring the transaction into balance for debits and credits

Asset Change Edit List

NAVIGATION: ACTIVITIES menu > Change Edit List

  1. Click one of the following report options:

    1. Preview

    2. Print

    3. Print with Setup

    4. E-mail

    5. Export

  2. Review the edit list

  3. Make changes, if needed, in the Change Asset program.

  4. If the edit list is correct, move on to Post Changes

Post Changes

NAVIGATION: ACTIVITIES menu > Post Changes

  1. Click the Post button

  2. If there are errors in the transactions: an Errors in Posting Detected information box will be displayed.
  3. Click the View Errors button to see the Error Report.
  4. Go back to the Change Asset program to correct the specified information.  Review the edit list again and then try to post again.
  5. If there are no errors and the posting has completed the following information will be displayed. Click Yes to open the Change Register (recommended)
  6. Click Preview, Print or Print with Setup to print the register
  7. Click the e-mail or export options to generate a PDF file to e-mail or to save to a file.
  8. Click No to close the information box without printing the register.

2/2021

NEED MORE HELP?  Submit a ticket to the Help Desk or call (814) 535-7810 or (800) 889-3388