Understanding Asset Master Record Creation

You must create an asset master for every asset that you want to manage throughout the JD Edwards EnterpriseOne Fixed Assets system. When you create master records, you establish basic information about each asset, such as:

• Asset numbers to uniquely identify the asset.

• The department that is responsible for the asset.

• The cost account for the asset.

• The date when you acquired the asset.

• User-defined category code descriptions of asset status, class, and so on.

• Textual descriptions or remarks to help you locate the asset.

When you create master records for an asset, the system automatically creates:

• Ledgers in the Asset Account Balances File table (F1202).

• Depreciation information, based on depreciation rules that you define during system setup, including the depreciation start date (the asset's acquisition date).

• General ledger account information, based on depreciation account rules that you define during system setup.

The system stores asset master records in the F1201 table. When you request specific asset transactions, the system accesses or updates the information in this table.