Departments will wish to monitor their fixed assets using the Fixed Assets module from time to time. In order to maintain the university's Fixed Asset Register, departments must ensure that when processing AP invoices for Fixed Asset purchases, they tick the "Track as Asset" box.
- Departments - AP invoice processed; Tick "Track as Asset" box.
- Finance Division Fixed Asset Addition - Details listed in holding area of the Fixed Asset module.
- Finance Division Fixed Asset Capitalised - Fixed Asset is capitalised and journals created in General Ledger.
Month End Guidance
- AP Invoices: tick "Track as Asset" box all fixed assets > £5,000 (on-going process).
- Notify Finance Division (via Fixed Asset Helpdesk) of any fixed assets disposals during the month.
- Review Departmental Fixed Asset Report for accuracy, sent out quarterly to departments by the Finance Division.
- Run Asset Additions report to check new additions during the quarter (not monthly).