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Asset Management / Asset Portal / Depreciation

Edit Tagged Furniture/Property Type

You can review and edit tagged furniture information, including adding a property type for the tagged furniture from the Edit Tagged Furniture and Property Types task or from the Edit Equipment by Property Type task.

• Use Edit Tagged Furniture and Property Types task when you want to work from a comprehensive list of your tagged furniture assets. Using this task, you can update furniture records that do not yet have a property type assigned.
• Use the Edit Tagged Furniture by Property Types task when you want to add new tagged furniture records, or view and update tagged furniture by the property type to which it is assigned. Using this task, you can update equipment records that already have a property type assigned.

From Web Central, the Edit Furniture and Property Type and Edit Furniture by Property Type tasks present a Web form to enter and update data; from the Smart Client the task is shown in a grid view. Grid views are the most efficient method when doing bulk updates. The following procedures are applicable to both tasks

Data Required for Depreciation Calculation

Depreciation calculations work with a number of fields in the Tagged Furniture and Equipment tables. When assigning property types, you should also verify that the following fields have valid values as these fields are used in calculating depreciation:

• Purchase Price
• Salvage Value
• Install Date (for equipment)
• Delivery Date (for furniture)

Edit and Add Tagged Furniture and Property Type

To edit and add equipment and property types:

1. Select Asset Management/Asset Portal/Depreciation/Edit Tagged Furniture and Property Types.

   The Tagged Furniture Inventory and Property Types view lists all tagged furniture in your inventory and its associated inventory and property type information.

2. From Web Central, do one of the following:

   • To add a new tagged furniture record, click Add New at the top of the Tagged Furniture and Property Types list.

• To edit an existing item, select Select an item from the Tagged Furniture and Property Types list.

  The Tagged Furniture panel displays the fields for the selected record.

3. From the Smart Client, do one of the following:

   • To edit an existing record, double-click on the cell to be edited.

   • To add a new record, click in the first row of the grid.

4. For a new record, enter the following required field for the tagged furniture item:

   Furniture Code: This is the unique identifier (primary key) field and is rarely changed.

5. Enter the following fields required to calculate depreciation expenses (along with the Property Type): 
• Delivery Date:Select the date the furniture was delivered.
• Purchase Price: The price you paid for the item.
• Salvage Value: The salvage value of the item.
• Property Type: Select the classification that determine how depreciation values are calculated.
6. Enter the following recommended validated data by selecting from the select value list for each of these fields:
   • Furniture Standard: Select the type of furniture item by selecting from the predefined standards.
   • Building/Floor/Room: Use these fields to document the location of the furniture item.
   • Division/Department Code: Use these fields to document the organization that uses the furniture item. 
   • Employee Name: Select the name of the employee assigned the furniture is assigned to.

7. Enter the Serial Number, if available.
8. To save your entries, do one of the following:

   • From Web Central, click Save.

   • From the Smart Client, click outside the row you are editing.

Edit and Add Tagged Furniture by Property Types

Use the Edit Tagged Furniture by Property Type task to review or edit tagged furniture that is already assigned to a property type. If the tagged furniture item does not yet have a property type assigned, use the Edit Tagged Furniture and Property Type task.

To add and edit tagged furniture by property type:

1. Select Asset Management/Asset Portal/Depreciation/Edit Tagged Furniture by Property Types.

   The Tagged Furniture Inventory by Property Type view shows a list of all your defined property types.

2. From Web Central, do one of the following:

   • To add a new tagged furniture record, select a property type and then click Add New from the top of the Tagged Furniture panel.

   • To edit an existing tagged furniture record, select the property type for the tagged furniture item and then select the tagged furniture record from the Tagged Furniture list.

3. From the Smart Client, do one of the following:

   • To add a new tagged furniture record, click in the first row of the grid.

   • To edit an existing record, double-click on the cell to be edited.

4. Enter the following for a new record:

   Furniture Code: This is the unique identifier (primary key) field and is rarely changed.

5. Enter the following fields required to calculate depreciation expenses (along with the Property Type): 
• Delivery Date:Select the date the furniture was delivered.
• Purchase Price: The price you paid for the item.
• Property Type: Select the classification that determine how depreciation values are calculated. This field is filled in with the property type you selected, but you can select a different property type if needed.
6. Enter the following validated data by selecting from the select value list for each of these fields:
   • Furniture Standard: Select the type of furniture item by selecting from the predefined standards.
   • Building/Floor/Room: Use these fields to document the location of the furniture item.
   • Division/Department Code: Use these fields to document the organization that uses the furniture item. 
   • Employee Name: Select the name of the employee the furniture is assigned to. 
7. Enter the Replacement Value: The cost of replacing an asset; this is often used in risk management reports.
8. Enter the Serial Number, if the furniture asset has one.
9. Click Save.