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Process
This job aid describes two ways to process an Asset Betterment for existing fixed assets. Fixed Asset Betterments are defined as capital improvements extending the useful life beyond the years of an existing asset or an improvement that increases the efficiency of the asset. FI and FA can be both used to process a Fixed Asset Betterment.
The FI transaction method should be used if no FA Shell transaction was created from the PRM transaction. If a FA shell was created from a PRM, a decision has to be made as to whether to continue the betterment on the FA shell or un-pend the FA shell followed by using an FI transaction. If you use the FA shell process, your betterment will be on its own unique component number and will depreciate on its own in-service date and useful life. Also, COAs in the PRM (including the Program codes) will be used in the betterment and future depreciation expenses. If you use the FI transaction you have a choice to use a new component number or to add value to an existing one. Depreciation in the FI process will match the component that the betterment is added to and may or may not change the useful life of the asset.
Using an FI Transaction
Create a new Fixed Asset Increase/Decrease transaction.
Enter FI in the Page Code Search bar and select Fixed Asset Increase/Decrease
Enter Dept. and Unit (example for illustrative purposes only)
Select Create
Select Auto Numbering
Select Continue
Create the General Information section of the Header tab.
Enter Transaction Name
Enter the Transaction Description and details on the change.
Select the Fixed Asset Number
Event Type (FA07) should auto-fill
Complete the General Information section of the Accounting tab.
Enter Line Amount
Select Validate
Using an FA Shell Transaction
Enter FA in the Page Code Search bar and select Fixed Asset Acquisition
Enter the FA shell transaction # in the Transaction ID field or search for the FA shell and click on the hyperlink
Complete the General Information section in the Header tab of the FA transaction
Enter Transaction Name, Transaction Description, and Fixed Asset Number
Select Event Type: XF02
Select Save
Verify the Responsibility Center section in the Header tab
Verify Custodian is entered
Verify the Fund selected
Verify Department, Unit, and Appr Unit
Verify the Component tab
The Component Number should be a unique number
Complete the Acquisition Details tab on the Component tab
Select the Acquisition Method and select Save
Complete the Location Details tab on the Component tab
Select the Location and Save.
Complete the Classification tab in the Component tab
Select Fixed Asset Catalog, Fixed Asset Type, and Fixed Asset Group
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