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Administrator Guide
Last Updated: 2023-06-23
Add Assets to a Company Asset Book

Add Assets to a Company Asset Book

  • Configure asset accounting.
    Run the
    Capital Assets without Accounting Information Assigned
     report to identify depreciable and nondepreciable capital assets without asset accounting information. Workday doesn't add these assets to the company asset book until you assign the accounting information.
  • Set up asset books.
  • Add the asset books to a company.
  • Define asset book rules.
  • Define bonus depreciation rules.
  • Security: These domains in the Business Asset Accounting functional area:
    • Process: Business Asset Accounting
    • Setup: Company Asset Books
You can copy the asset information from an existing company asset book when you add new asset books to a company with existing assets. Workday initiates a process to add all assets with accounting information assigned to the selected company asset book.
The fiscal schedule of the new company asset book should have fiscal periods from the earliest to the latest effective date for all cost activities that you copy. The depreciation start date for an asset is the earliest transaction effective date for the asset.
You can copy asset information to a company asset book at any time. When you have a lot of assets, we recommend that you run the process during off hours.
  1. Access the
    Add Assets to Company Asset Book
     task. You can run the task for the whole book, a specific location, or for only a specific asset.
    If you use the
    Delete Assets from Company Asset Book
     task to delete assets, you can't use the
    Add Assets to Company Asset Book
     to add the assets back to the book.
  2. As you complete the
    Criteria
     tab, consider:
    Option Description
    Company
    Select the company to which you want to add assets.
    Company Asset Book To Add Assets To
    Workday adds assets to this company asset book that match the specified criteria including:
    • Expensed assets or assets registered with accounting information assigned but not placed in service.
    • Assets that don't exist in this book yet.
    • Assets that don't have a condition that prevents them from Workday adding them at this time.
    Source Asset Book
    The source asset book that provides the basis for the asset cost in the new book. The source asset book includes historical cost and all cost activities. If you copy assets from the primary accounting book, then Workday excludes impairments from the cost activities making up the asset cost in the nonaccounting book.
    Exclude Assets Disposed Earlier Than
    Workday adds assets with a disposal date on or after this date. Workday doesn't add assets with a disposal date before this date. Workday automatically populates the first day of the current fiscal year.
    Location
    (Optional) Select the specific location that you want to run the job for. Workday copies only the assets for this location to the new asset book.
    Asset ID
    (Optional) Select the specific asset that you want to run the job for. Workday copies only this asset to the new asset book.
    Depreciation Accounting Status
    Define when Workday can or can't create journals for prior periods by setting the:
    • Status of a depreciation expense line for an asset to
      Accounted
       on or before a specific date.
    • Date to record depreciation until the date indicated on a new depreciation schedule.
    Depreciation Information
    Select to apply the depreciation from the new asset book rules or from the source asset book.
    Bonus Depreciation
    Select to use:
    • Bonus depreciation rules.
    • Copy from the source asset book.
    • No bonus depreciation if it doesn't apply.
  3. In the
    Schedule
     tab, set the start date, start time, and time zone for your task.
    The job runs only once.
Workday adds assets that meet the specified criteria to the new company asset book.
  • Confirm that for the new asset book it's zero in the
    Assets to Add
     column. You can run the
    View Company Asset Books
     report to verify the count. The count includes assets disposed of in the current fiscal year that aren't in this book.
  • If a count exists, you have more assets to add before the book is complete. Rerun the task, and also verify that:
    • The assets don't have any transactions in process.
    • You assigned asset accounting.
    • The latest disposal date on disposed assets isn't before the specified date.
    • Every fiscal period exists for assets with a depreciation rate basis of
      Number of Days
       in the depreciation profile.
  • Use the
    Update Depreciation Schedules
     web service to update the historical information if:
    • An asset has historical accumulated depreciation.
    • Workday populated the asset depreciation information based on asset book rules.
  • Provide a depreciation start date to indicate when depreciation starts in Workday. Historical accumulated depreciation includes historical bonus depreciation, so you should update historical bonus depreciation. The depreciable cost in the Workday depreciation schedule excludes historical accumulated depreciation. Historical accumulated depreciation consists of depreciation for all cost activities with a transaction effective date before the depreciation start date.