Creating an FA for a Memo Asset

Process: 

This job aid describes the process for manually create a memo asset.

2. From the Financial Transaction Page.

• Enter Transaction Code.

• Enter Transaction Dept.

• Click on the Create button.

3. From the Create Transaction page.

• Verify Transaction Code and Transaction Dept are correct.

• Check Auto Numbering.

• Click Continue button.

4. On the Fixed Asset Acquisition page select the Header Tab.

• Expand the General Information section.

• Enter Transaction Name.

• Check Generate Fixed Asset Number.

• Enter Prefix. (prefix is the Transaction Dept followed by an underscore ie AABA_).

• Enter Transaction Description if necessary.

• Click Save Button.

5. Scroll down the page and enter appropriate COA elements in the Responsibility Center section.

• Required fields include (Department, Unit, Appr Unit, and Fund).

• It's recommended that BLNK is entered in the Program, Program Period, and Phase fields.

• Enter the Custodian in the Responsibility Center Staff section.

• Scroll down and check the Memo Asset box.

6. Navigate to Component tab.

• Click the plus symbol (+) to insert new line.

• Click on the Caret to expand new line options.

• Select General Information sub section.

• Enter appropriate Fixed Asset Component Number.

• Select appropriate Commodity.

• Enter appropriate Unit quantity.

• Enter appropriate Unit of Measure. (Default UoM is EA)

7. Under the Component tab navigate to Classifications sub section.

• Select Memo from Fixed Asset Classification drop down.

• Select appropriate Asset Catalog from picklist.

• Select appropriate Fixed Asset Type from picklist

• Select appropriate Fixed Asset Group from picklist.

• Click Save button.

8. Under the Component tab select the Location sub section.

• Select appropriate Location from picklist.

• Click Save button.

9. Under the Component tab select the Acquisition sub section.

• Verify Acquisition Date is accurate. 

• Update the Acquisition Method from picklist.

• Click Save button.

10. Under the Component tab select Depreciation and Valuation sub section.

• In the Depreciation Structure field select Responsibility Center from the drop down list.

• In the Depreciation Method field select Straight Line from the drop down list.

• Enter Useful Life value in amount of Years.

• Select date that asset was put into service in the In Service Date field.

11. Click Validate button and click Submit button.