Managing Existing Assets

The Existing Assets Capital Existing Assets icon component provides several options to help you manage existing capital assets.

Table 6-2 Managing Existing Assets

Task Description More Information
Capital Overview icon Overview Review overview and variance dashboards for existing capital assets. Analyzing Capital Financials with Dashboards
Capital Manage Existing Assets icon Manage Assets Manage existing assets:
  • Retirements and transfers

  • Funding assumptions

  • Asset-related expense drivers

  • Improvements

Capital Existing Leased Assets icon Existing Leased Assets Manage existing leased assets. Managing Existing Leased Assets
Capital Asset Assumptions Assumptions

Enter assumptions to drive calculations for existing assets.

Entering Capital Asset Assumptions

Transferring and Retiring Existing Assets

You can transfer or retire existing assets when needed. For example, transfer ownership of an asset to another organization or retire it by selling it or writing off its value.
  1. Click Existing Assets Capital Existing Assets icon and then click Manage Assets Capital Manage Assets icon .

  2. Select the asset, and then hover to see the Actions menu, and then select Transfer Asset or Retire Asset.

  3. Enter transfer details for the asset such as the Transfer To entity, the date, and the justification. Or, enter retirement details such as the retirement date, whether it’s a sale or a write-off, the retire costs, and the sale or write-off value.

  4. For the target entity, you must calculate the assets: Navigate to the target entity (in the Point of View bar), and from the Actions menu, select Calculate Asset.

The asset cost is no longer included in calculations as of the time of retirement. If you transferred the asset, you see that the asset is transferred to the other entity.

Improving Existing Assets

Facilities and cost center managers plan for improving assets (for example, upgrading an asset, adding floor space, and so on). Enter details, such as the improvement name for the asset, description, asset units, asset rate, salvage value, physical location, purchase date, and in-service date.

Note:

Before you improve an asset, you must select the Enable for Dynamic Children member property for the Asset Detail and specify the Number of Possible Dynamic Children, and then refresh the application. This essentially is splitting the asset from one asset to multiple assets. To allow planners to improve the assets, enable dynamic parent property for the asset you want to improve. The existing asset detail should be loaded against a child under this parent to represent the base asset. All other improvements will be captured as a sibling to this base asset.

For example, create a member under the asset and load the existing asset detail against that. Here is how the hierarchy would look:

Office Building No#3020 - Enable Dynamic Parent Property

  • Office Building No#3020- Base Asset

  • Office Building No#3020 - Improvement 1

  • Office Building No#3020 - Improvement 2

In this example, when the Asset Detail dimension is being built, load the Parent member and the Base Asset and load all data against the Base Asset member. Improvement 1 and Improvement 2 members are created when you launch the Improvement rule in Capital. (Planners can rename the improvements.)

  1. Click Existing Assets Capital Existing Assets icon and then click Manage Assets.Capital Manage Assets icon.

  2. Select Improvements on the horizontal tabs.

  3. Select an asset, and then from the Actions menu, select Improvement.

  4. Enter details, such as the improvement name for the asset, description, asset units, asset rate, salvage value, physical location, purchase date, and in-service date and then click Launch.

    The asset with the improvement name is added below the original asset.

Managing Existing Leased Assets

You manage existing leased assets in the same way you manage existing assets.

  1. Click Existing Assets Capital Existing Assets icon and then click Existing Leased Assets Capital Existing Leased Assets icon.

  2. Manage expenses, amortization, and so on.

  3. Hover to see the Actions menu, and then select Calculate All and Roll Up. This aggregates data for Total Entity, Total Fixed Asset, and any custom dimensions that are enabled.