The following guide is intended for an Asset Accountant to create and place into service assets originating from Payables or created in the User-Interface.

• Create an Asset in UI.
  • Example: Capitalized Interest, Library Books, UChicago Funded Project Asset that is related to a UCM managed Shared Construction Project.
• Create an Asset from Payables.
  • Example: An Organization or Project purchases moveable equipment.

Terminology

• Source: Track information about where assets came from, including sources as Invoice Lines from Accounts Payables and Capital Assets from Capital Projects. Source Lines in the asset details will show the Source of the asset.
• Assignments: Assign assets to employees, general ledger depreciation account expense accounts, and locations. In addition, assets can be shared among several assignment lines and choosing a predefined Distribution Set will allow you to automatically assign distributions to an asset.

Create an Asset in UI

1. Login using Company Single Sign-On to access your Oracle account.

2. Navigate and select the Fixed Assets module.
3. Select Assets.

4. Select the Taskbar on the right side of the page.
5. Under Transaction, select Add Asset.

6. In the Add Asset form enter Book, Asset Type, Category, Description, Cost, Units, Expense Account, and Location.
7. Select Next to see the Add Asset page.

8. Populate or update key fields like Description, Asset Number, and Cost.
9. Under Descriptive Details enter any information as necessary. Note: In this example, Serial Number, Manufacturer, Attachments, Asset-Key, Owner Code, and Recharge Associated have been entered (* = required fields).

10. Scroll to the bottom of the page. Under Assignments and Financial Details enter or edit each unit.

11. Scroll to the top of the page. Select the Down Arrow and Submit.

12. Select the Taskbar on the right side of the page.
13. Under General, select Inquire Assets.

14. Toggle to the Recent Additions tab to verify the asset.
15. Select Done.

16. Select the Taskbar on the right side of the page.
17. Under Accounting, select Create Accounting. Note: Create Accounting will be a scheduled process.

18. Input the following parameters: Book, End Date, Accounting Mode, Process Events, Report Style, and Include User Transaction Identifiers.
19. Select Submit in the upper right-hand corner.

20. The process was submitted, select OK.

21. Select the Taskbar on the right side of the page.
22. Under General, select Inquire Assets.

23. Highlight the asset by clicking into the row entry. Select View Accounting under the Recent Additions tab to view Accounting Line.

You have now completed the process to Create an Asset in UI.

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1. Login using Company Single Sign-On to access your Oracle account.

2. Navigate and select the Fixed Assets module.
3. Select Assets.

4. See one or more assets in the Incomplete queue with an Invoice Number populated.
5. Click into the Invoice Number hyperlink to see Supplier Lines and Payment information.

6. Review the Supplier Lines.

7. Toggle to the Payments tab to review payment information.
8. Select Done to return to the assets work area.

9. Select the asset line in the row entry, click Action, and then Edit. Note: Alternatively you can click the hyperlink under Description.

10. Populate or update key fields like Description, Asset Type, and Category.
11. Under Descriptive Details enter any information as necessary.
    1. Note: Asset Number will be populated automatically when the asset is posted.
    2. Note: In this example, Serial Number, Manufacturer, Attachments, Asset-Key, Owner Code, and Recharge Associated have been entered (* = required fields).

12. Toggle to the Source Information to see clearing account. Note: The Entity and Organization populated in the asset’s Depreciation Expense Account (ex: 614-31000) will drive accounting ownership for the entire asset lifecycle and the asset key.

13. Under Assignments, enter or edit each unit.

14. Scroll to the top of the page and change the Queue dropdown to Post.
15. Select Save and Close.

16. In the Assets dashboard page, the asset should be moved from Incomplete to Ready to Post. Note: You may have to refresh to see this change.

17. Highlight the asset line by clicking into the row entry.
18. Select Post All. Note: Do not click hyperlinks under Description and Invoice Number when highlighting the asset line.

19. Select the Taskbar on the right side of the page.
20. Under General, select Inquire Assets.

21. Select the Recent Additions tab and view your asset.
22. Select Done in the Asset Inquiry page.

23. Return to the assets work area and select the Taskbar.
24. Under Accounting, select Create Accounting. Note: Create Accounting will be a scheduled process.

25. Input the following parameters: Book, End Date, Accounting Mode, Process Events, Report Style, and Include User Transaction Identifiers.
26. Select Submit in the upper right-hand corner.

27. The process was submitted, select OK.

28. Select the Taskbar on the right side of the page.
29. Under General, select Inquire Assets.

30. Select the Recent Additions tab to view your asset.

31. Highlight the asset by clicking into the row entry. Select View Accounting under the Recent Additions tab.

You have now completed the process to Create an Asset from Payables.

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