Component

At the time of acquisition, there must be at least one component line. As many lines as necessary can exist, subject to a configured system limitation.

Based on the Transaction Code, the Component tab may contain the following actions/links/fields:

Auto Apply - This action exists on the Component of all Fixed Asset transactions that update existing asset records to bring in existing information.

Field Name	Required?	Description
Acquisition Date	Required	A required date that represents the date the asset was acquired or received. If a generated Fixed Asset shell, the date is set to the payment request Service To date. The date can be used as the starting date for depreciation if established to on the selected Fixed Asset Type.
Acquisition Method	Required	A field to select an acquisition choice from defined values on Acquisition Disposition (FADM). The choice is only informational. Please see the Fixed Asset Acquisition Disposition topic under Advanced – Setup for more information.
Altitude Elevation	Optional	A descriptive field to record the altitude or elevation of where an asset is located. The format entered is open and subject to policy/procedure.
Appraisal Date	Optional	A date to record when an appraisal was last done for an asset. This could be an internal or external appraisal.
Appraiser Name	Optional	The name of the individual, group, or company that performed the last appraisal for an asset. This could be an internal or external appraisal.
Asset Being Replaced Replaced Asset Description	Conditionally Required	A field to capture the Fixed Asset Number of the previous asset that the current asset is replacing. A value is required if the Replacement Type is Replacement. The description of that replaced asset will be inferred.
Asset Impairment	Optional	When a component is considered impaired, there are many choices are available to record that condition that are either temporarily or permanent. Note, once set, the field can only be changed to Not Applicable if the impairment no longer exists.
Asset Status Asset Status Name	Optional	A field to indicate the status of the asset for reporting purposes. The name of the status is inferred for informational purposes. Please see the Asset Status topic under Advanced – Setup for more information.
Asset System Number Asset System Description	Optional	A field to relate an asset to a larger collection of assets for reporting purposes. The name of the system number is inferred for informational purposes. Please see the Asset System Number topic under Advanced – Setup for more information.
Barcode	Optional	A field to capture the barcode value assigned to the component.
Base Asset	Required	One component line must be marked as the Base Asset. The system will default the first component line added as the Base Asset. The choice of component as the base does not impact system processing or editing.
Change in Selling Price	Optional	When processing a Fixed Asset Selling Price Change transaction the delta amount of difference between the original selling price and what it should be is entered. Because the transaction can change other details about the sale, this amount is not required.
Closing Costs	Optional	For assets where cost occurred in the closing process of ownership, these can be captured. Closing costs are typically only entered for Land or Building asset types. The costs are recorded for reporting purposes only.
Commodity	Required	Each component line must be associated with a commodity code that is setup as a fixed asset commodity.
Commodity Specifications	Optional	A descriptive field to capture information about the commodity code.
Complex / Building	Optional	In addition to Location and Sub Location, there is the Complex/Building description field to record additional location information. Unlike the other two, this field is a free-form field to capture any type of location information desired that does not fit into another location field.
Component Extended Description	Optional	An extended description to provide any details necessary for the component that will not fit into another descriptive field.
Coverage Limits	Optional	When the insurance of an asset has a coverage limit, that limit is entered here.
Cubicle Number	Optional	When an asset is located in a cubicle, that very detailed location can be captured for inventory purposes.
Debt ID	Optional	When an asset component represents an asset that is leased from a lessor or leased out to a lessee, this field will tie the Fixed Asset record to the Lease that is defined in Debt Management. Connecting the two records can be done from a Fixed Asset transaction or a Lease transaction. Please note it is a 1:1 relationship so if multiple items are leased, then either that has to be a separate lease and fixed asset record for each or just a single lease and fixed asset record.
Decal ID	Optional	When an asset has an ID other than an asset tag, that ID can be captured here. Please note there are other fields that are similar that may better fit the type of asset.
Declining Rate	Conditionally Required & Prohibited	Defines the depreciation acceleration rate for a component asset when the Depreciation Method is Declining Balance. Enter 150 for a rate that is 1.5 times the Straight Line rate and 200 for what is commonly called a ‘double declining rate’. This field is required if the Depreciation Method is Declining Balance. The field must remain blank in all other situations.
Deed Information	Optional	This field is used to display detailed property information required to identify, properly account for, and safeguard lands details.
Department	Inferred	The Department inferred from Responsibility Center COA indicates the department from which the asset was purchased or acquired.
Depreciation Amount	Required	A required amount when recording a disposition, internal sale, or manual depreciation when the Depreciation Method is Manually Computed. The amount will be allocated to each accounting line on the Net Book Value at the accounting line.
Depreciation Method	Required	Depreciation Method determines the manner in which the depreciation of the Asset gets calculated. The only valid option for a non-depreciable Fixed Asset Type is the Not Applicable choice. When depreciable, the remaining options are only valid if the corresponding ‘Allowed’ indication is true for the option for the Fixed Asset Type. The other options are Straight Line, Manually Computed, Modified, Declining Balance, and Sum-of-the-Years’-Digits. The component asset value is inferred from the Depreciation Method field on the Header if the Composite Asset indication is true. All components of the composite asset must have the same Depreciation Method.
Depreciation Structure	Required	When the Depreciation Method is Not Applicable, so too must this field. When the Depreciation Method is any other value, there are two valid choices: Funding Line - Depreciation posting lines will be generated using the COA elements entered on the Accounting Line. Responsibility Center – Depreciation posting lines will be generated using the COA elements entered in the Responsibility Center.
Description 1	Optional	This field is provided to store additional descriptive text. Your organization may require a specific type of information be stored in this field.
Description 2	Optional	This field is provided to store additional descriptive text. Your organization may require a specific type of information be stored in this field.
Description 3	Optional	This field is provided to store additional descriptive text. Your organization may require a specific type of information be stored in this field.
Description 4	Optional	This field is provided to store additional descriptive text. Your organization may require a specific type of information be stored in this field.
Description 5	Optional	This field is provided to store additional descriptive text. Your organization may require a specific type of information be stored in this field.
Disposal Restrictions	Optional	This field is used to display any restrictions at the time of disposal, such as those required by certain grants.
Disposed Units	Required	A number of units that are being disposed. The field will default to the total number of units.
Disposition Authority	Optional	A field to record a name or other authority that is responsible for the disposal.
Disposition Code	Optional	A field to add information to the Disposition Method selected for a component.
Disposition Condition	Optional	A description to record information on the condition of the component at time of disposal.
Disposition Date	Required	A field to record the date a component was disposed. If left blank then it will default to the current application date.
Disposition Method	Required	A field to select from a disposition choice from defined values on Acquisition Disposition (FADM). The method selected will determine the type of gain or loss posting. Please see the Fixed Asset Acquisition Disposition topic under Advanced – Setup for more information.
Disposition Reason	Optional	A description to record information on the reason for the disposal of the component.
Drawing	Optional	When a drawing of the asset has occurred, this field will capture an ID associated with the drawing.
Final Units	Calculated	When a transaction can adjust the Units value of a component line, this field exists to display what will be the ‘final’ number of units for the component line after the adjustment.
Fixed Asset Catalog	Conditionally Required	Fixed Asset Catalogs are defined to enforce or attempt to standardize values for Fixed Asset Type, Fixed Asset Group, Useful Life, and Depreciation Method attributes for similar fixed assets. A value is required if the Require Fixed Asset Catalog indication on the Fixed Asset tab of System Options (SOPT) is Yes. Please see the Fixed Asset Catalog and System Options topics under Advanced – Setup for more information.
Fixed Asset Classification	Required	This indication along with the Fixed Asset Type will be used to determine which balance sheet account will be used to offset the asset account. Choosing between Contributed and Adjustment is a procedure/policy decision. Normal – All shells generated from procurement have this setting to infer the Expenditure Offset account from Special Accounts (SPEC). Contributed – This choice will use the Contributed Offset account from Fixed Asset Type (FATP). Adjustment – This choice will use the Net Adjustment account from Special Accounts (SPEC). Memo – This choice must be used in conjunction with the Memo Asset Indicator being true. The account used here is the Memo Contra account from Special Accounts (SPEC). Memo Intent – This will result in memo assets created by the Fixed Asset Intent process. Intent – This choice will result in non-memo assets created by the Fixed Asset Intent Process
Fixed Asset Component Number	Required	Each asset component must be identified by a unique number. 1 will default but any numbering scheme can be used and numbers do not have to be sequential.
Fixed Asset Group	Required	A further breakdown of a Fixed Asset Type for reporting purposes. Please see the Fixed Asset Group topic under Advanced – Setup for more information.
Fixed Asset Type	Required	Each asset must be assigned a Fixed Asset Type to enforce edits and enable the inference of several balance sheet accounts. Please see the Fixed Asset Type topic under Advanced – Setup for more information.
Floor	Optional	A level of detail captured between Complex / Building and Cubicle (room) for inventory purposes.
Fuel Type	Optional	This field indicates the Fuel Type of an asset (for example, diesel, gas, natural gas and so forth.) Please see the Fuel Type topic under Advanced – Setup for more information.
Gain Loss	Calculated	The amount of gain or loss based on the difference between the selling price and new calculated net book value, which includes the amount of catch up depreciation.
Gain Loss Account Type	Inferred	A setting of Object or Revenue from the selected Disposition Method that will be used in Posting Line creation.
Hazardous Materials	Optional	This field indicates the component contains or may contain hazardous materials and any additional information about the hazardous materials.
Historic Asset Cost	Calculated	The collective amount a component costs (purchased or constructed) or was valued (contributed) that includes the original amount, betterments, and increase/decrease adjustments.
In Service Date	Conditionally Required	A date that represents not when the component was purchased but when it was put into service, which is when depreciation starts for those types of asset that depreciate because of use and not simply time. The date will be required and used in the first calculation of depreciation of the Fixed Asset type that has Service Date as the Depreciation Date Indicator.
Industry Identification	Optional	This field to capture any industry identification for a component for reporting purposes.
Insured Value	Optional	This field is used to capture the insured value of the asset.
Internal Disposition Date	Inferred	The disposition date of the component sold internally on the referenced internal Fixed Asset Disposal is inferred to this date to arrive at the acquisition date of the internal buyer.
Internal Sale Asset Cost	Inferred	The internal selling price of the component sold internally on the referenced internal Fixed Asset Disposal is inferred to this date to facilitate accounting for the buyer that will match that of the seller.
Internal Sale Depreciation Amount	Inferred	The accumulated depreciation of the component sold internally on the referenced internal Fixed Asset Disposal is inferred to this amount as the asset should not be depreciated twice.
Internal Sale Gain Loss	Inferred	The gain/ loss amount of the component sold internally on the referenced internal Fixed Asset Disposal to facilitate accounting for the buyer matches that of the seller.
Internal Sale Units	Inferred	The number of units of the asset component sold internally on the referenced internal Fixed Asset Disposal to ensure the number of units transfers from the seller to the buyer.
Latitude	Optional	A descriptive field to record the latitude of where the asset is located. This value will be inferred from the Location if recorded there; otherwise, it can be entered. Please see the Location (LOC) reference page for address information.
License Plate	Optional	This field is used to capture any license plate affixed to a fixed asset.
Location Address 1 Address 2 City County State Zip Country	Required	A location is required attribute for fixed asset inventory processes. If a Location is entered as a Responsibility Center COA, this component location must be the same code. When the value entered in the Location field has address information recorded on the Location (LOC) COA reference page, this address information will be inferred. Please see the Location (LOC) topic for address information.
Longitude	Optional	A descriptive field to record the longitude of where the asset is located. This value will be inferred from the Location if recorded there; otherwise, it can be entered. Please see the Location (LOC) topic for address information.
Manufacturer	Optional	This field is used to capture the name of the manufacturer of a fixed asset for reporting purposes.
Manufacturer Part Number	Optional	This field is used to capture the manufacturer’s part number of a fixed asset for reporting purposes.
Memo Disposal Value	Optional	An estimate of the value of this asset at the time of disposition can be captured here to be used for reporting instead of the salvage value.
Model Number	Optional	This field is used to capture the model number of an asset for reporting purposes.
NAIC Code Address 1 Address 2 County State Zip Country	Optional	A field to capture the insurer of the fixed asset, which is defined on the NAIC Insurance reference page. When a value is entered, address information will be inferred. Please see the NAIC Insurance (NAIC) reference page for address information.
Options to Purchase Property		When an asset is leased from a lessor, this field is used to capture any lease option to purchase the asset by name or amount. When using Debt Management to record the lease, there are similar options there with the definition of the lease.
Out-of-Service Date	Optional	The expected date that the asset will be taken out of service. This date can be used for reporting on expected replacement needs.
Parcel ID	Optional	When the asset is land, this field exists to capture the parcel ID for reporting purposes.
Payment Request Transaction: Code Department ID Vendor Line Commodity Line	Conditionally Required	When the Asset Classification is Normal, all of the payment request fields are required and typically populated with the Fixed Asset Shell Generation process
Permits or Certification Number	Optional	When an asset required a permit, certification, or other official permission to obtain or erect, this field captures that number (ID) for reporting purposes.
Piece	Optional	When an asset has multiple components that are numbered, this field can be used to capture that information if the Component Number is not.
Plat Number	Optional	When the asset is land, this field exists to capture the plat number for reporting purposes.
Policy Extended End	Optional	When an asset is insured, this date is used to capture the extended end date of that policy.
Policy Number	Optional	When an asset is insured, this field is used to capture the policy number.
Policy Term End	Optional	When an asset is insured, this date is used to capture the on which the policy is originally scheduled to expire.
Policy Term Start	Optional	When an asset is insured, this date is used to capture when that policy goes into effect.
Premium	Optional	When an asset is insured, this field is used to capture the cost of obtaining insurance coverage for the policy period.
Product Category	Optional	A field used to capture the product or category number or name associated with the asset.
Property Description	Optional	A field to capture a description of the component when one of the other more targeted description fields does not fit. Use of this field is by policy or procedure for certain types of assets.
Property ID	Optional	A field to capture a property ID assigned to the asset when one of the other more targeted ID fields does not fit. Use of this field is by policy or procedure for certain types of assets.
Property Survey Report ID	Optional	A descriptive field used when a piece of land is disposed to record an identification number to a survey.
Purchasing Authority	Optional	A field to record a name or other authority that is responsible for the acquisition.
Recalculate from Beginning	Optional	An indication for the next automatic depreciation run to recalculate depreciation for the component from the beginning (Acquisition or In-Service Date). When true there should be an accompanying change to one or more depreciation parameters: Useful Life, Salvage Value, Depreciation Method, or Declining Rate.
Received Date	Optional	A date to capture when the fixed asset was received for reporting that is separate from the Acquisition Date and In-Service Date.
Reporting 1- 5	Optional	These fields capture the additional reporting information from a pre-defined list from the Fixed Asset Reporting (FARPT) page. The pick list on each fields filter records with the corresponding Reporting Number (1-5) on the Fixed Asset Reporting (FARPT) page.
Replacement Date	Optional	The expected date that the asset will be replaced. This date along with the Out-of-Service Date can be used for reporting on expected replacement needs.
Replacement Type	Optional	This field indicates the type of replacement for the component. Valid values are blank, Additional or Replacement.
Conditionally Required	Optional	When an asset is located in a room, that very detailed location can be captured for inventory purposes.
Salvage Value	Optional	The estimated value of the composite asset at the end of the Useful Life after depreciation.
Section	Optional	When there is a need to define a section within a location where an asset is located, this field is used to capture that information.
Security Incident Report ID	Optional	A descriptive field used when a component being disposed has a related security incident related to the Disposal Condition.
Selling Fixed Asset Number Selling Fixed Asset Component Number	Conditionally Required	When acquiring an asset internally, the asset previous disposed of must be recorded on the acquisition.
Selling Price	Required	A required amount representing the amount received for a component that is allocated to each accounting line based on Net Book Value.
Serial Number	Optional	A field provided to capture the serial number of an asset. Serial number is typically entered for equipment without a VIN (separate field). Actual use of this field is based on policy and procedure.
Size	Optional	A field to capture any sort of size measurement for an asset such as square feet, acers, etc.
Specification	Optional	A field to capture any sort of specification details when other fields are not a match (or two fields are needed).
Statistical Units	Optional	A field to define how many statistical units acquired or being retained (not disposed) for financial reporting. When fully disposing of a component, the value must be zero.
Statistical UOM	Optional	A field to define the unit of measure associated with the Statistical Units. Choices come from the Unit of Measure (UOM) reference page shared by many areas of Advantage Financial.
Sub Location	Optional	When an additional breakdown of Location is necessary, the Sub Location provides that additional detail. Valid values are defined on the Sub Location (SLOC) COA reference page.
Supplier Part Number	Optional	A field to capture information about the supplier part number of an asset that is often the result of ordering from the supplier’s catalog. This information may assist in replacing the asset or ordering more of the same asset.
Surface Area	Optional	A field to capture the surface area of an asset instead of using the Size field. Actual use of each field will be governed by policy and procedure.
Survey Data	Optional	A field to capture any information about a survey done on the fixed asset or where the fixed asset is located.
Tag Number	Optional	When assets are assigned a tag number for identification, this field captures that number. While the Fixed Asset Number may be the tag number that is not always possible (internal sale or asset is comprised of multiple components that have individual tag numbers).
Trade-In Credit	Optional	When there is a trade-in option for an asset, the amount that will be credited towards the purchase of the next asset is recorded here.
Type of Coverage	Optional	When an asset is insured, the type of coverage is recorded here.
Unit of Measure	Optional	A field to define the unit of measure associated with the component. Choices come from the Unit of Measure (UOM) reference page shared by many areas of Advantage Financial.
Units	Required	The number of units associated with this fixed asset component line.
	Conditionally Required	Useful Life The time expressed in years for which the asset will be used, which is required by depreciable assets for the calculation of depreciation. The value has to be between 1 and 100. The value entered must meet or exceed any minimum capitalization criteria defined on Fixed Asset Capitalization Criteria (FACC). Useful Life is not allowed if the Asset Type is not depreciable. Please see the Fixed Asset Capitalization Criteria topic under Advanced – Setup for more information.
Valuation Amount	Optional	The estimated value of a component as of the last Valuation Date. This type of estimate and calculation thereof is a policy decision.
Valuation Date	Optional	This is the date on which the component was last valued. A date is required each time the asset Valuation Amount is changed.
Vehicle Make Vehicle Model Vehicle Year VIN	Optional	Fields to capture the make, model, year and identification number of a vehicle or other type of equipment.
Vendor Vendor Name Alias DBA	Optional	When the entity from which the asset was purchased or acquired should be captured, this field records that from the values established on the Vendor/Customer (VCUST) reference page. From the value chosen, the name and the alias/DBA will be inferred.
Warranty Type	Optional	If the asset was purchased with a warranty, information on that warrant can be recorded here. The Warrant tab has the capability of capturing many different warrant details.
Weight	Optional	Should the weight of a component need to be captured, this field exists to capture that in any measurement form needed.