Summary

The Create Fixed Assets process allows you to take fixed assets created in the Work Orders module and process them through the depreciation and adjustments processes in the Fixed Assets module.

New Construction category work orders can be set up to create a fixed asset when the status on the work order is changed to Complete. The Create Fixed Assets process will then take this Work Order module fixed asset and create a New status fixed asset in the Fixed Assets module. Once this fixed asset is installed, it can be adjusted and depreciated in the FA module.

Step by Step

1     Create a Create Fixed Assets batch.

• Select the Create Fixed Assets palette in WO> Create Fixed Assets. This will expand the Create Fixed Assets palette and display the steps of the Create Fixed Assets batch process.
• Modify an existing batch or create a new Create Fixed Assets batch.
  • Select a batch number from the drop-down menu at the top of the Create Fixed Assets palette to select an existing batch.
  • Select New from the Create Fixed Assets batch number drop-down menu to create a new batch. This will open the New Batch window.
  • If there are open batches in the Create Fixed Assets process, you can create a new batch without affecting the open batches.
  • Enter a Batch Month and Batch Year. These fields default to the current calendar period and are for reference only. The fiscal period of the transactions in the batch is determined by the Journal Entry Date entered during the Generate step.
  • Click the Generate icon to populate the Batch Number field with the next available batch number. Batch numbers are limited to five digits and must be unique within the batch month of the batch year.
    • You can also manually create a new batch by entering a Batch Number and clicking the Save icon  .
• Highlight the batch in the batch number drop-down menu on the Create Fixed Assets palette and press DELETE to delete a batch. Any uncommitted fixed assets in the batch will be deleted.

2     Select the Work Orders to include in the batch.

• Open the Select Work Orders window (WO> Create Fixed Assets> Select Work Orders).
  • This window will display all New Construction category work orders that have been updated to Complete status.
  • Work orders that have already been processed or are included in an existing Create Fixed Assets batch will not be included.
• Check the Selected toggle next to each of the work orders that you would like to include in the batch.
• The value in the Fixed Assets field will determine how many fixed assets are created from the selected work order.
  • The value in the Total Amount column will be distributed equally across the fixed assets, so as the number of fixed assets is increased, the value of each fixed asset will decrease. As the number of fixed assets is decreased, the value of each will increase.
    • This Total Amount value is the sum of all activity and overhead amounts associated with the fixed assets. This amount does not include additional charges, such as markup and fixed rate labor, intended to generate revenue.
  • The original value in the Fixed Assets field is determined on the Work Orders Maintenance window (WO> Work Orders> Work Orders> open/create a work order> General tab> Default Assets field).
• Click the Save icon once all of the desired work orders are selected and updated.

3     Edit the fixed assets on the selected work orders.

• Open the Edit window (WO> Create Fixed Assets> Edit).
• The Edit window will display one line item for each fixed asset that will be created when the batch is committed.
• The Work Order Number and Total Amount values for each fixed asset are the only columns that cannot be edited. All other information associated with the fixed assets can be changed. There are, however, some limits on what changes can be made.
  • The Asset Code attached to each fixed asset can be edited, but each asset code must be unique.
  • The Original Cost associated with each fixed asset can be edited, but the total original cost value must match the original WO Total Amount. For example, if the original cost on one fixed asset is adjusted down by $100, the original cost on another fixed asset attached to the same work order would need to be adjusted up by $100.
  • The Life column will default to zero and must be edited in order to save the fixed assets to the batch.
  • The Mass Asset toggle and Quantity fields should only be used if the asset should be installed as a mass asset.
• Click the Save icon when complete.

4     Print the Proof List.

• Open the Proof List window (WO> Create Fixed Assets> Proof List).
• Specify how the report will display with the Sort By drop-down menu.
• The report will display the Fixed Asset code, Work Order Number, Asset Description, Original Cost, Location, Life, Life Unit, Mass Asset status, Mass Asset Quantity, Class and Department.
• Click the Print icon to process the report immediately or enter a date and time in the field next to the Print icon to schedule the report to generate at a later time. You can view the progress of the report on the Job Viewer window (SS> Utilities> Show Scheduled Jobs).
  • Click the Print icon drop-down menu and select Print Preview to preview the report before printing.
  • Click the Print icon drop-down menu and select Excel to export the report data to an Excel spreadsheet as unformatted data.
  • Click the Print icon drop-down menu and select Excel (Formatted) to export the report data to an Excel spreadsheet that includes much of the Springbrook formatting found on the printed version of the report.
  • Once the report is generated, you can also display the report using the View Reports window (SS> Utilities> View Report).

5     Generate Work Flows. This is an optional step.

• The Generate Work Flows step applies if only certain employees are allowed to commit a Create Fixed Assets batch. For example, if you are a department clerk, but only the department head is allowed to actually commit a Create Fixed Assets batch, then run the Generate Work Flows step to notify the department head that a Create Fixed Assets batch is ready to be committed. If you do not use work flows, skip to the Commit step and commit the batch.
• Select Generate Work Flows on the palette. This will open an information window asking you to confirm your selection. Press ENTER or click the OK button to generate the work flows. This will create a job on the Jobs Viewer window. Once the job is complete, the work flow will be created.
• Work flows are created and maintained on the Work Flow Maintenance window (SS> Work Flow> Work Flow Templates). Click here for information on Work Flows.

6     Review Work Flows. This is an optional step.

• The Review Work Flows step is used to view the Create Fixed Assets batch before it is committed and is used in conjunction with the Generate Work Flows step. For example, a department clerk runs the Generate Work Flows step to notify the department head that the Create Fixed Assets batch is ready to be approved. The department head receives an email that the batch is ready to be committed, so they review the Create Fixed Assets proof list and then commit the batch.
• Open the Review Work Flows window to review the fixed assets in the batch (WO> Create Fixed Assets> Review Work Flows).
• The Review Work Flows window displays the work flow generated by the Generate Work Flows step (WO> Create Fixed Assets> Generate Work Flows).
• The Status column displays the status of the work flow. If the work flow is waiting to be approved, the Status will be New.
• The Author column displays the department clerk that created the work flow (this is the employee that ran the Generate Work Flows step). If the Create Fixed Assets batch is rejected, this is the employee that will receive the notification email that the batch has been rejected.
• The type of work flow generated during the Generate Work Flows step determines what needs to be done to the fixed assets before the batch can be committed.
  • If the work flow is set up as an action step on your role (SS> Work Flow> Work Flow Templates), you will have to approve or reject the fixed assets in the batch before you can commit the batch.
  • If the work flow is set up as an information step on your role (SS> Work Flow> Work Flow Templates), the commit step will be enabled and the batch will be ready to commit. When the work flow is set up as an information step, skip the Review Work Flows step and commit the Create Fixed Assets batch.
• If you have to approve or reject the Create Fixed Assets batch, highlight the work flow in the Review Work Flows window and press ENTER. This will open the specified Create Fixed Assets reports for approval.

7     Commit the Create Fixed Assets batch.

• Open the Batch Commit window (WO> Create Fixed Assets> Commit).
• Click the OK button to commit the batch.
• Once the batch is committed, the new fixed assets can be installed in the Fixed Assets module Install Assets process (FA> Install Assets> Install Assets).