Subject: Optional Enhancement for capturing Asset ID at time of receipt for existing Asset Additional Purchases

An optional (not required) enhancement was implemented in the Receiving screens to capture an existing Asset ID for those purchases which add value to an existing Asset already owned by the University and requires inventory tagging by AM. Instruction on how to enter an Asset ID on the receipt line are presented below along with a FAQ section.

Steps:

  1. When the item is classified as an asset, the AM status Pending link will appear on the Maintain Receipts Receiving page
  1. Click on the Pending link to navigate to the Asset Management Information page.

  1. On the Maintain Receipts Asset Management Information for Line 1 page, click on the Asset ID Look-Up Icon

  1. The modal pop-up contains a listing of Asset ID, Tag Number, and Description for those assets which are eligible for this process.
  1. You can search by Asset ID or Tag Number. The Tag Number is located on the asset, this number begins with ‘4950’ and is contained on a USF Barcode.
  1. Once you locate your Asset select the Asset ID. This will populate the field on the page. Click OK and continue on with the receiving process.
  1. If the Tag Number you entered retrieves no results, the Asset is Ineligible for this process. Leave the Asset ID field as ‘NEXT’ and click OK.

FAQs

Q. What is an additional purchase to be capitalized for an existing asset?

A. A purchase of $5,000.00 or greater for parts/accessories which will be added to an already existing asset and the part/accessories are not consumable and have a life expectancy of greater than 1 year.

Q. Does this change the way we handle the purchase of new assets?

A. No. The only change is how the “Add To” purchases are processed. Capitalization guidelines for assets remains unchanged.The change above is only meant to enhance the system functionality.

Q. What if I am not sure or have doubts about adding the Asset ID in the field?

A. Do nothing and leave the field as ‘NEXT’. Asset Management will do a review and validation when the information is transmitted to the Asset Management Interface once the PO is vouchered.

Q. I entered my Tag Number to search but my Asset is not showing. Why is that?

A. The most likely reason is the Asset was part of Conversion and is therefore ineligible for this process. These will still need to be handled manually by the Asset Management Office. Leave the Asset ID field as ‘NEXT’ and the Asset Management Office will handle it accordingly.

Q. Who do I contact if I have questions?

A. For questionsregarding the receipt page and issues on the receipt page please contact your purchasing agent.

For questions regarding asset policies and procedures contact, Iris Wiggins

Q. Where can I find policies and procedures for Purchasing/Receiving and Asset Management?

A.

Purchasing/Receiving -

Asset Management - click on the Asset Management Menu