Adding Fixed Assets

A key component of the fixed asset process is to properly record assets that are being depreciation or are recorded as a fixed asset within the balance sheet.   This may include property, buildings, building equipment, other equipment, vehicles, rental items, and other fixed assets.   Many of these assets will be depreciated with a few exceptions such as land.  

The fixed asset list can be viewed within EBMS by selecting Financials > Depreciation > Depreciable Assets from the main EBMS menu.

Add assets based on the following scenarios:

• Add from an expense invoice:  The recommended method of adding this assets is by adding the asset at the time it is purchased.  Review Adding Assets using an Expense Invoice for steps.
• Adding assets when first using EBMS:  Review Entering Existing Assets for steps to add assets when first using the fixed asset module.
• Adding assets manually:  Fixed assets can be added manually at the end of the year, after the expense invoice is processed, or when the asset was purchased using a non-invoice process.  Review Alternative Method of Adding Costs and Assets for instructions.

Costs can be added to an asset after the asset is created.  This allows the user to accumulate costs for a project or equipment from multiple invoices.  Review Adding Assets using an Expense Invoice for steps.

Note that costs cannot be added after the depreciation process has applied depreciation to the asset.   

Review Processing Depreciation > Depreciating Assets using a Monthly Process for steps to apply depreciation.