Record Standard Fixed Asset Manually

The Fixed Assets Acquisition (FA) document records the creation of a new or increase (betterment) of an existing Fixed Assets record.

Fixed Asset documents that record new assets may be system-generated or manually created.  

• A Fixed Asset document may be automatically generated by the system as the result of payment requests and disbursements associated with a capital asset purchase.  

• Automating the creation of the Fixed Asset acquisition documents helps ensure that all purchased assets are recorded in the asset inventory.  

• Assets that are not acquired through the procurement process (such as donated or contributed assets) need to be manually entered.  

• The manual creation of Fixed Assets documents enables you to enter any assets that were not acquired with a direct purchase.

To record a new fixed asset using the FA document, you need to go through these steps:

1. Create a FA document from the Document Catalog.  

2. Complete the Header section of the FA document.

   1. Enter the FA Number.  
      The FA number can be generated automatically by selecting the Auto Generate FA Number flag and by populating the prefix number.

   2. Enter the Asset description.

   3. If it is a composite asset, then enter the Asset details like Asset Type, Catalog ID, Asset Group, Asset Category, Useful life.  
      
      For construction-in-progress assets select the appropriate asset type.

   4. Enter the Responsibility Center COA elements.

   5. If it is a Memo Asset, then select Memo flag.

3. Complete the Component section of the FA document.  

   1. Enter the Component Number, Number of Units, Unit of Measure and other commodity details

   2. Enter the Acquisition details, location information and Classification indicators.

   3. If it is a non composite asset, then enter the Asset details like Asset Type, Catalog ID, Asset Group, Asset Category, Useful life.
      
      For construction-in-progress assets select the appropriate asset type.

   4. Enter the Depreciation details, Salvage value and Valuation amount

   5. If the classification indicator is Normal or Memo, then enter the FAPR reference details.  This is required only if the asset is created manually.  The FA Shell generation process populates this information while generating the FA shell.

4. Complete the Accounting section of the FA document.

   Enter the following information if the asset is created manually.  If the document is generated through the FA shell generation process all these information would have been populated.

   • Line Amount

   • COA elements

   • Document reference information

   The following information is required irrespective of how the document is created

   • Responsibility center posting flag

   • Funding FY

   • Funding BFY

5. Select Validate, if errors exist then fix the errors, Validate again and proceed to the next step.

6. Select Submit.