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Administrator Guide
Last Updated: 2023-06-23
Define Asset Book Rules

Define Asset Book Rules

  • Define spend categories.
  • Set up depreciation profiles.
  • Set up asset books.
  • Security:
    Set Up: Business Asset Accounting
     domain in the Business Asset Accounting functional area.
You can set up asset book rules to assign an accounting treatment under specific conditions. For depreciable capital assets, you can also instruct Workday to assign a depreciation profile.
Each asset book has its own set of rules, so an asset can have different accounting treatments and depreciation profiles in each book.
  1. Access the
    Maintain Asset Book Rules
     task.
  2. Specify the conditions for a rule.
    As you complete the task, consider:
    Option Description
    Spend Category
    Select categories or hierarchies with at least 1 trackable spend category. If you don't see the category that you want, use the
    Maintain Spend Categories
     task and select the
    Track Items
     check box.
    Company
    Leave this field blank to apply the rule to all companies.
    If you specify a hierarchy and an
    Amount Threshold
    , all companies in the hierarchy must use the same base currency.
    Company Currency
    The currency selected is used for the
    Amount Threshold
    . Workday converts other currencies to this one when evaluating business assets.
    Amount Threshold
    Workday compares the amount threshold against the absolute value of an asset cost. If the cost is greater than the threshold, Workday triggers the rule.
    Invoice Line Amount Basis
    If you specify an
    Amount Threshold
    , Workday evaluates assets based on its
    Unit Cost
     or
    Extended Amount
    .
  3. Specify the accounting treatment and depreciation profile applied to assets that trigger the rule.
  4. Place the rules in the
    Order
     you want Workday to evaluate them.
  5. (Optional) Click
    Test Asset Book Rules
     to evaluate that your rules are set up correctly.
When you register an asset, Workday automatically checks it against the asset book rules and assigns an accounting treatment and depreciation profile.
  • If no rules exist for a nonprimary asset book, Workday uses the rules of the primary company asset book.
  • If no matching rules are found, Workday automatically applies the
    Expense
     accounting treatment.