Summary

The Install Assets process is used to install fixed assets that have been created either in FA> Maintenance> Fixed Asset Maintenance or the Work Order module. When assets are first created in the Fixed Asset module, they are created with a New status. The Install Assets process will change the status of the asset to Active and allow the asset to be depreciated.

The general ledger entry from the Install Assets process will be a debit to the Asset account type and a credit to the FA Investment account type as designated in the distribution.

If you are using the Work Order module to create fixed assets, use this process to install the asset that was created.

Step by Step

1    Open or create an Install Assets batch.

• The Install Assets process is a single batch process, meaning you can process only one batch at a time.
• If there is an open batch in the Install Assets process, you will not be able to create a new batch. If you would like to create a new batch, you can either delete the existing batch by clicking the Delete icon on the batch tile or you can reset the steps on the process by returning to the first step of the process. All of the information in the batch will be overwritten.
• If there are no open batches in the process and you would like to create a new batch, click the Create New Batch button  . This will open the New Batch view. The batch number, batch month, and batch year of the batch will not affect the transactions cleared in the process. The batch information is for reference purposes only.

2     Open the Batch Overview page.

• The Batch Overview page provides a general overview of the selected batch.
• The left navigation menu displays all the steps in the Install Assets process.
• In the main section you'll see information about batch steps that are currently processing, next available batch steps, and the last completed batch step.
  • Batch steps that are currently processing will display a blue indicator bar to alert you that the step has not yet completed.
  • Once the preceding batch step is complete, the next available batch steps will be enabled and you can select the next step you would like to run.
    • While some batch steps are optional, any batch step that includes the Required tag must be completed before the batch is allowed to proceed through to the Commit step.
• The Batch Outputs section on the right will display any reports or exports that have already been generated in the Install Assets process.

3     Install Assets.

• Open the Install Assets window (FA> Install Assets> Install Assets).
• The Install Assets window displays a list of all the Fixed Assets that are ready to be installed.
• Change the Install Date field to the actual date of installation. The install date is the date used to calculate depreciation and can only be modified through a Date Installed adjustment once the asset is installed. This date can be unique for each asset included in the Install Assets batch.
  • This date does not need to correspond with the Journal Entry date specified on the GL Distribution step below.
• Enter the Transaction Description for the installation transaction. This description will appear on the Transaction tab of the Asset Maintenance window.
• If you have just added a fixed asset through the Fixed Asset Maintenance window (FA> Maintenance> Fixed Assets), the newly added fixed asset may not display on the Install Assets window. Click ADD ASSETS to search for and add the new asset.
  • Click REMOVE to remove any selected assets you do not want to install in this batch.
• Click the Submit button to install the displayed assets.

4     Print the Install Assets Proof List.

• Open the Proof List window (FA> Install Assets> Proof List).
• The fields for this report are Asset, Asset Description, Date, Transaction Type, Description, Quantity, and Amount. The report will also include a total amount for the batch.
  • The Description field will populate with the Transaction Description column from the Install Assets window.
• Once the required report settings have been specified, click the Print button   to print your report.
• Click the options arrow on the right side of the Print button to see other print options.
  • Select PDF to print the report in the default Springbrook format.
  • Select Excel to export the report data to an Excel spreadsheet as unformatted data.
  • 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.
• Click the Schedule icon next to the Print button in order to schedule the report to generate at a later date and time.
  • Enter a Date and Time to generate the report and click SUBMIT.

5     Print the GL Distribution.

• Open the Print GL Distribution window (FA> Install Assets> GL Distribution).
• Select the Journal Entry Date from the drop-down menu.
  • This will auto populate the dates that appear in the Fiscal Period and Fiscal Year fields.
  • The Journal Entry Date will also determine the fiscal period and year the entry is recorded in the general ledger.
  • The journal entry date will default to the current date, not one of the effective dates entered on the Install Assets window (FA> Install Assets> Install Assets).
• The GL Distribution report will reflect the distributions set up on the asset.
• Select either Summary or Detail from the Report Type drop-down menu.
  • The Summary report will display the Account Number, Account Description, Net Account Totals, Fund Total, and Report Total.
  • The Detail report will display the information displayed on the summary report as well as detailed listings of individual credits and debits within each account, department, and fund.
• Check the Subtotal by Department toggle to include department subtotals in the report.
• Once the required report settings have been specified, click the Print button   to print your report.
• Click the options arrow on the right side of the Print button to see other print options.
  • Select PDF to print the report in the default Springbrook format.
  • Select Excel to export the report data to an Excel spreadsheet as unformatted data.
  • 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.
• Click the Schedule icon next to the Print button in order to schedule the report to generate at a later date and time.
  • Enter a Date and Time to generate the report and click SUBMIT.

6     Commit the Install Assets batch.

• Commit the Install Assets batch (FA> Install Assets> Commit Installations).
  • Committing the assets will make a permanent record in the application.
  • Click the Continue button or press ENTER to commit the batch.  
    • If you click the Cancel button, you can still commit the batch via the Commit button.
• A journal entry will be created in the general ledger if GL interface is selected.
• The asset is now available to be depreciated, adjusted, or disposed.