Understanding Asset Identification

Assets are identified by their System Number. The application assigns a unique System Number to each asset in a company. You also have the ability to track assets based on your own identification scheme by entering pre-existing or internal numbers into the Asset ID field.

Asset Extension Numbers

Every System Number contains a numeric extension. Extension numbers allow the application to maintain the integrity of an asset's System Number when partial activity occurs, and they help you track partial activity. The system gives new assets the extension .000. Extensions change when you have partially transferred or partially disposed assets and the remaining values have changed.

During either of these activities, there are three asset conditions created from the original asset. The conditions are different depending on which of the two activities you are performing. See Partial Transfer Asset Conditions and Partial Disposal Asset Conditions for more information.

When you perform a partial transfer or a partial disposal on an asset, the system assigns a new extension number to the remaining asset. This new extension number identifies the new condition of the asset. The remaining asset has a smaller Acquired Value than it had prior to the transfer or disposal, when it was in the original condition. Therefore, to correctly calculate depreciation on the remaining asset, the system must recognize its new condition.

Once the system has assigned a new extension number to the remaining asset, the remaining asset replaces the original asset in the Asset List.

To see the history of the original asset, select the Transaction tab in Asset Detail of the core System Number, or you can view reports.

It is important to mention that you can perform a partial transfer or partial disposal on a remaining asset after the original partial activity. In fact, you can repeat this process several times, decreasing the value of the asset until it is zero. If you perform partial activity on a remaining asset, the remaining asset becomes the original asset for the current partial activity. The application creates a new remaining asset, and repeats all activity outlined above.

Note: When you transfer an asset in its entirety and treat it as a disposal, the system creates a disposed asset with the same System Number as the original asset, but with a new extension. However, in this case the disposed asset with the new extension does not take the place of the original asset and is only visible in the Disposal Report.