The asset is entered into Coins ERP+ via the Fixed Asset Workbench. There are options to copy an existing asset or add a new one using the Add or Copy buttons. An asset is linked to an Asset Group and an Asset Department. The Groups and Departments hold default information for the asset, but can be changed on asset entry.
Asset Details
Field | Description |
Asset Number | System Generated or Manually Entered |
Group | Select the Asset Group from the Lookup |
Description | Enter the Asset Description |
Department | Select the Asset Department from the Lookup |
Serial Number | Enter the asset Serial Number (this is usually a unique field) |
Part of | Enter the asset number if this asset is linked to another asset with a parent/child relationship |
Subgroup | Enter Subgroup |
Home Depot | The Location where the Asset Purchase is received |
Current Depot | For a new Asset, this is the same as the Home Depot |
Ownership Status | 3rd Party, Hire Purchase, hired, Leased, Owned or Blank |
Supplier | If this is a Leased Asset, enter the Supplier Name and Invoice Details |
Note: If the asset group type is set to A- Miscellaneous Asset it can only be added and maintained in FA Asset Workbench. If using equipment rates these must be maintained In the Equipment Manager Asset Workbench.
Go to Equipment Manager > Assets and click Add. (This Workbench can be used with Asset group types of P- Equipment, T- Inventory asset, V- Vehicle.)
Alternately, Assets can be added via Fixed Assets > FA Asset Workbench.
Figure 1: Adding an Asset (Equipment Manager)
Figure 2: Adding an Asset (Fixed Assets)
2. Fill in the appropriate fields. In the Details tab enter:
Asset – a unique code by which the asset will be identified by (can be letter and/or numbers)
Group - the Asset Group
Description - a description of the asset
Make, Model, and Year - optional
Dept - the Asset Department. The asset departments are used to identify financial information regarding assets and costing, and usually signifies which division “owns” this asset – if a company has multiple Asset Departments. This will typically set the first portion of the GL.
Serial No, License Plate Number, etc. fields are optional.
Part of field is used if the asset you are adding is part of an existing asset. For example, if you are adding a plow on to a truck, or a crane on the back of a truck.
Home Depot- where the asset is based
Current Depot- the current location of the asset
Ownership Status – informational field
Ownership Charged to Date – enter date if utilizing supplemental ownership charges in COINS
Supplier information can optionally be entered.
Ignore the Cargo Attributes and Transporter Attributes sections.
Figure 3: Details Tab
3. The Purchase tab should be skipped if using the invoice reconciliation functionality (linking this Asset to an AP invoice entered separately after you enter the Asset record in COINS). If you enter info here, you cannot directly link the invoice reconciliation to the asset.
4. Next, go to the Analysis Tab, where options for any user-defined Analysis Sets may be specified.
Fixed Assets Analysis Sets are set up at Fixed Assets > Setup > Configuration > FA Configuration > FA Configuration> Asset Analysis tab and Fixed Assets > Setup > Maintenance > Asset Analysis Sets.
Figure 4: Analysis Tab
5. Next, go to the Depreciation tab. Info here will default in from the Asset Group specified, but can be changed.
6. Select the appropriate Depreciation Method.
7. Initial WDV (written down value), Current WDV, and Start Date can be left blank if utilizing the invoice reconciliation process.
Start Date determines the fiscal period that the Asset will start depreciating from in COINS.
Figure 5: Depreciation Tab
8. Click Save in the bottom, right corner of the screen to save the Asset.