The Asset Global (Add) menu selection allows you to create assets in the asset database that are not purchased through the financial system (for example, gifts, transfers-in, found, and non-capital assets) and to create non-movable assets that are not processed in the CAB. To add these assets, you use the Asset Global document.
The Asset Global document also allows you to separate an asset into multiple assets. In this case, you reach the screen by clicking the separate link after searching for the asset on the Asset Lookup or Asset Payment Lookup screen.
For information about separating assets, see Separate Assets.
Any user that has access to the KFS can initiate an Asset Global document. The type of addition the user is permitted to create depends on the department he/she works for. A user without authorized access can create non-capital assets and capital gifts, transfer-ins, found, and state excess assets. The acquisition type of new assets is restricted to users assigned to the following roles. KFS-SYS Asset Processor, KFS-SYS Asset Manager, and KFS-SYS Plant Fund Accountant.
The Asset Global document is used in the following circumstances:
o When an organization needs to create non-capital assets—that is, items that do not meet the capitalization threshold (for example, any item under $5,000.00 that is a standalone piece of equipment), users do so via the Asset Global document.
• Capital movable equipment
o When the Capital Asset Department needs to create gift, transfer-in assets, and state excess or federal surplus assets given to the university, users do so via the Asset Global document. Transfer-in assets are those assets received from an external organization (usually another university) or government surplus.
o The Asset Global document is also used to create found assets. Found capital assets are those assets that were retired in error, or incorrectly classified in a prior fiscal year. Normally, found assets are created by the Campus Capital Asset Office. However, they can be initiated by the organization or created by the University Capital Asset Office as well.
o The Asset Global document is used to re-create assets where the title of an asset has moved from federally owned to university or institutional owned. In this case, the original federally owned asset is retired, and a new asset is created using the Asset Global document. The re-created asset is normally re-created at the book or fair market value.
o CAB also feeds information on capital movable equipment into the Asset Global document. This type of addition may be initiated only by the Capital Asset Department.
o The Capital Asset Department adds non-movable assets by using the Asset Global document and Asset Payments documents.
After you select Asset Global (Add) from the Capital Asset Management submenu group in the Lookup and Maintenance submenu on the Main Menu tab, the system displays the Asset Acquisition Type lookup screen.