Use this subtask to enter cost information for both new property records and for the initialization of your historical property records. There are no system-required fields in this subtask.
Cost data is not required to save an Asset Master record because you may be tracking property in which you have no cost. Cost data must exist, however, to successfully compute depreciation.
None of the fields in this subtask have corresponding Asset Template fields in which to set up default data.
For established Asset Master records only:
You can enter, edit, and view the data from this subtask in a table window format by accessing the Maintain Asset Cost Info screen (directly from the Asset Master Records menu). An alternate access route to Asset Master subtask data gives you more flexibility in setting up screen security options for users with different access needs.
If screen rights are set up so the user can access the Maintain Asset Master Info screen from the Asset Master Records menu option, this screen and ALL its subtasks are automatically accessible to the user.
If screen rights are NOT set up for the user to access the Maintain Asset Master Info screen, the system administrator can alternately grant or deny access rights using the direct menu option on a screen-by-screen basis, which correlates directly with the data contained in each subtask. In this manner, each user can access only the data from permissible subtasks in an Asset Master record.
Although the data displays in column form in the table window screen, data entry functionality and data rules for each column are identical to their corresponding fields in the Maintain Asset Master Info screen, regardless of which entry screen methodology you establish for each user.
You cannot edit the fields in this subtask after a disposal is posted or manually entered for the purpose of preserving the audit trail. When you first manually add an historical record with a Disposal status, all fields in the Asset Master record can be edited as needed before you save the record for the first time. If the saved Disposal record is accessed again, the radio buttons in the Depr Status and Depr Based On group boxes in the Maintain Asset Master Info screen are disabled. In addition, edits to fields in the Cost Info, Account Info for G/L Book, G/L Book Info, and Other Books Info (if data previously existed) subtasks cannot be saved in this circumstance because the OK pushbuttons are disabled.
Although under most circumstances you can add to or change the information in this screen, use caution in the timing of your edits. If, for example, you edit one of the fields in this screen that changes the total cost, you may experience unexpected results after depreciation is calculated.
Use this group box to view the asset number and item number of the record that was selected in the main screen.
This non-editable field displays the asset number from the main screen.
This non-editable field displays the item number from the main screen.
Use this group box to enter, edit, or view quantity and unit of measure data for this record.
Enter up to 14 numeric characters to record a quantity value in this optional field. This field serves only as a memo field and is not used by the system for any calculations.
For a new asset record, this field will be blank because there is no corresponding Asset Template field.
For an existing asset record, you can edit data that displays in this field, or you can add data to a blank field as desired.
Enter up to 10 alphanumeric characters to record unit of measure data in this optional field. This field serves only as a memo field and is not used by the system for any calculations.
For a new asset record, this field will be blank because there is no corresponding Asset Template field.
For an existing asset record, you can edit data that displays in this field, or you can add data to a blank field as desired.
Use this group box to enter, edit, or view cost data for this record.
Enter the unit price in this optional field. The system automatically adds the value entered in this field to the value(s) entered in any other cost fields, and displays the results in the Total Cost field.
For a new asset record, this field will be blank because there is no corresponding Asset Template field.
For an existing asset record, you can edit data that displays in this field, or you can add data to a blank field as desired.
Enter sales tax in this optional field. The system automatically adds the value entered in this field to the value(s) entered in any other cost fields, and displays the results in the Total Cost field.
For a new asset record, this field will be blank. There is no corresponding Asset Template field.
For an existing asset record, you can edit data that displays in this field, or you can add data to a blank field as desired.
Enter shipping/handling costs in this optional field. The system automatically adds the value entered in this field to the value(s) entered in any other cost fields, and displays the results in the Total Cost field.
For a new asset record, this field will be blank. There is no corresponding Asset Template field.
For an existing asset record, you can edit data that displays in this field, or you can add data to a blank field as desired.
Enter transportation costs in this optional field. The system automatically adds the value entered in this field to the value(s) entered in any other cost fields, and displays the results in the Total Cost field.
For a new asset record, this field will be blank. There is no corresponding Asset Template field.
For an existing asset record, you can edit data that displays in this field, or you can add data to a blank field as desired.
Enter other costs associated with this record in this optional field. The system automatically adds the value entered in this field to the value(s) entered in any other cost fields, and displays the results in the Total Cost field.
For a new asset record, this field will be blank. There is no corresponding Asset Template field.
For an existing asset record, you can edit data that displays in this field, or you can add data to a blank field as desired.
This field is non-editable. The system automatically adds the values from each of the cost fields and displays the total in this field. If this field does not display the correct value, you can edit the Price, Sales Tax, Shipping/Handling, Transportation, and/or Other fields, as appropriate. All edits to cost for the G/L Book Info (Years) and G/L Book Info (Units) must be made in this screen. The value from this field automatically displays in the Total Cost field of the G/L Book Info (Years/Units) subtasks, where it cannot be edited.
If you have set up one or more optional books (2-10) in the Fixed Assets Settings screen, the following system mechanism is automatically activated: When you first add and save an Asset Master record, the Total Cost value from this subtask automatically displays as the default total cost for all optional books in the Other Books Info subtask. You can always, however, assign a different cost basis for each optional book (for purposes of stepped-up depreciation basis, and so on), if desired.
If you have set up one or more optional books (2-10) in the Fixed Assets Settings screen, the system displays the following message when you exit from this subtask:
"The Other Books Info subtask needs to be activated in order to update its cost information."
This message displays to remind you of the rules regarding updates to cost data for optional books 2-10 in the Other Books Info subtask.
When data for an Asset Master record is originally added and saved, the Total Cost amount from the Cost Info subtask automatically defaults in the Total Cost column for all other optional books used when you first activate each new line in the Other Books Info subtask. The purpose for this default feature is to save you some data entry because, for the majority of users, the G/L Book cost amount is the same for the optional books. The information message above automatically displays at the time you exit from the Cost Info subtask, regardless of whether you use any optional books.
The information message above also automatically displays when you re-access the Cost Info subtask after the Asset Master record has been saved. If you change the cost in the Cost Info subtask after the record has been saved, the message reminds you that your change to Total Cost will be in effect only for the G/L Book unless you also open the Other Books Info subtask by selecting the Other Books pushbutton on the main screen. When you open the Other Books Info subtask, your change to the Total Cost field in the Cost Info subtask will also be written to the Total Cost column for any optional books in the Other Books Info subtask for which the cost amount matched before the change. In this circumstance, your change to Total Cost in the Cost Info subtask will NOT automatically be written to the Total Cost column for any optional books that did not match the cost amount before the change. (Note that if you now want the revised Total Cost value for the G/L Book to also be the Cost for all optional books used, regardless of whether they matched before the change, you will need to enter the revised cost manually in the Other Books Info subtask for applicable optional books.)
If you have the Other Books Info subtask open before you change the Total Cost field in the Cost Info subtask, the information message above will not display, and the change to the Total Cost field will not be written to the Total Cost column for any optional books in the Other Books Info subtask (for which the cost amount matched before the change).
If you change the Total Cost field in the Cost Info subtask and you do not open the Other Books Info subtask when the information message above displays, your change to the Total Cost field will not be written to the Total Cost column for any optional books in the Other Books Info subtask (for which the cost amount matched before the change).
The system stores data displayed in the Cost Info subtask of the Maintain Asset Master Info screen (and in the Maintain Asset Cost Info screen) in the ASSET (Asset) table.