Title

Description

Asset Number

Display-only. The system-assigned identifier unique to the asset.

Organization Owner Chart Of Accounts Code

Enter the chart code for the owner account that is responsible for the asset or search for the code from the Chart lookup . This value is editable for users assigned to the role of KFS-SYS Asset Manager and KFS-Sys Plan Fund Accountant.

    When the parameter Accounts_Can_Cross_Charts is set to 'No', the system derives the chart code from the account number entered, and an entry in this field is not required.

Organization Owner Account Number

Enter the account number for the owner that is responsible for the asset or search for the number from the Account lookup . This value is editable for users assigned to the role of KFS-SYS Asset Manager and KFS-Sys Plan Fund Accountant.

Organization Owner Organization Code

Display-only. Identifies the organization responsible for the asset and is set by the owner account number.

Owner

Optional. Used when the title is vested in other universities or agencies. Enter the name of the owner or search for it from the Agency lookup .

Acquisition Type Code

Display-only. Describes how the asset was acquired by the institution (for example, gift, found, etc.).

Asset Status Code

Required. Enter the code indicating the current status of the asset. The current asset status determines the available choices for changing the asset status. See the business rules below.

Asset Condition

Select the condition of the asset from the list (for example, 'Excellent,' 'Good,' 'Fair,' and 'Poor'). For the KFS-CAMS Processor role, this field is not displayed.

Asset Description

Required. Enter a detailed description of the asset.

Asset Type Code

Required. Enter the code used to classify types of assets grouped by categories or search for the code from the Asset Type lookup .

Vendor Name

Enter the name of the company or person who sold the asset to the institution and to whom the first payment was made. Users assigned to any one of the following roles may update this field: KFS-SYS Asset Processor, KFS-CAM Manager, KFS-SYS Asset Manager, KFS-SYS Plant Fund Accountant.

Manufacturer

Enter the name of the person or company that manufactured the asset.

Enter the number assigned by the manufacturer to that model of asset.

Enter the unique identification number assigned by the manufacturer to the asset.

Enter the unique identification number issued by the University and affixed to the asset.

Enter the identification number (if any) previously affixed to the asset.

Enter the number assigned by a governmental entity to the asset if purchased with federal and/or state funds.

Enter the federal identification number assigned to the asset.

Display-only. The date of last inventory performed by the University or the date an asset was last physically verified, moved, relocated, inventoried, or tagged.

Display-only. The date in which the asset was added to the asset database.

Display-only. The fiscal year in which the asset was added to the asset database.

Period

Display-only. The period during which the asset was added to the asset database.

Financial Object Subtype Code

Enter the designated subtype for the object code or search for it from the Object Sub-Type lookup . The subtype code assigned to the asset is used in conjunction with the Asset Depreciation Convention table. The Asset Depreciation Convention table is used to determine whether the asset depreciates using a half year convention or a full year convention. Subtype codes are assigned to a full-year convention, or a half-year convention. Any subtype code not assigned sets the in-service date and deprecation date to the current year. Users assigned to one of the following roles may update this field: KFS-SYS Asset Manager, KFS-SYS Plant Fund Accountant.

In-Service Date

Enter the date the asset is placed in service and becomes eligible for depreciation. To change an asset from construction-in-progress to complete, update the asset type code and the in-service date.

Display-only. The date on which the asset depreciation begins. When the in-service date is changed, the depreciation date is automatically updated. The system uses the Asset Depreciation Convention table to set the depreciation date. The update is based on the deprecation convention code assigned to the subtype.

Total Cost

Display-only. The total amount or the final cost of the asset.

Display-only. The amount the federal government has contributed towards the acquisition of the asset.