Asset Master
The Asset Master is the card of one asset: what it is, which group it belongs to, how many units it holds, what one unit cost, who made it and who insures it. Saving the card puts nothing on the books. The asset gets a value only when it is acquired into a book on Asset Acquisition.
What it is for
The card is the register line. The acquisition reads its quantity and unit cost to propose the cost, and the retirement reads its quantity to know how many units are left.
There are two ways to make a card. Type it here, or let Asset In Bulk make one card per asset line of a purchase receipt. A card can also be tied to one receipt line here, through Origin Number.
Every field in plain words
| Field | What it means | What to put |
|---|---|---|
| Asset | The asset's code | Must not already exist |
| Name | What the asset is | Toyota Corolla, LEA-1234. Required |
| Asset Group | The family it belongs to | Pick from Asset Group. Required. Locked when Origin Number is filled |
| Origin Number | The purchase receipt the asset came from | Pick a receipt line bought as an asset acquisition. Fills Asset Group, Name, Quantity, Unit and Unit Cost, then locks Quantity, Unit and Unit Cost |
| Asset Entry | A label for the asset | Pick from Assets Entry |
| Quantity | How many units this card holds | Required. Fixed at 1 when the group is Serialized |
| Unit | The unit the quantity is in | Required. Each, set |
| Unit Cost | What one unit cost | The acquisition proposes Quantity times Unit Cost as the Acquisition Amount |
| Remarks | Anything to remember | Free text |
| Manufacturer | Who made it | Pick from the manufacturer list |
| Model | The model | Pick from the model list |
| Manufacturer Part No | The maker's part number | Free text |
| Manufacturer Serial No | The serial number | Free text |
| Manufacturer Country | Where it was made | Free text |
| Construction Date | When it was built | A date |
| Insurance Vendor | Who insures it | Pick a vendor |
| Agent | The insurance agent | Free text |
| Policy | The policy number | Free text |
| Policy Expiration Date | When the cover ends | A date. The board tile Insurance policies expiring reads it |
| Insurance Date | When it was insured | A date |
| Policy Amount | The premium or cover amount | A number |
| Insured Value | The value insured | A number |
| Replacement Cost | What it would cost to replace | A number |
| Last Periodic Value | The last valuation | A number |
| Insured At Fair Market Value | The cover is at market value | Tick if so |
| Functional Area | The department or function using it | Pick from the functional area list |
| Location | Where it sits | Typed text. It is not a pick from Asset Location |
The manufacturer, insurance and location fields are recorded and shown in the Asset Master list. No posting reads them. A Responsible Person field is configured for the screen but has no place on its layout, so it never shows.
How to configure it
Mandatory, hidden and default rules for these fields can be set per company on Fixed Assets Setting, for example to make Policy mandatory.
Scenarios
- Ten laptops bought on one receipt. Use Asset In Bulk: with a Serialized group it makes ten cards of quantity 1.
- A building bought years ago, brought in at go-live. Type the card here: group Buildings, quantity 1, unit cost the original cost. Then acquire it into the book with its initial depreciation.
- The insurer wants a list of insured values. Fill the insurance fields; the Asset Master list shows them.
What it is connected to
- Asset Group is required on every card.
- Asset In Bulk makes cards from a purchase receipt.
- Asset Acquisition proposes Quantity times Unit Cost as the cost, and offers only cards not yet acquired.
- Asset Retirement retires units of the card.
- A purchase receipt that a card names by Origin Number can no longer be reversed or deleted. See Item Receipt for Purchase Order.
If something looks wrong
- Quantity cannot be changed. The group is Serialized (quantity 1), or the card came from a receipt.
- Asset Group cannot be changed. Origin Number is filled. The group comes from the receipt line.
- The receipt refuses to be reversed: "Cannot be ... - Because Refered in Asset Master". A card names that receipt as its origin. The receipt stays as long as the card does.