Accept an Asset

You can only accept assets in the New state that contain at least one asset item.

You may add items to an active asset.

Accepting an asset:

• Makes it active in the system.

• Accepts the asset items if they haven't already been accepted.

• Creates the acquisition record for the asset and all asset items associated with the asset for assets purchased with governmental fund types. See About General Ledger Transactions for more information.

• Adds a record to the History tab.

When working with asset records that have been automatically created through Purchase Order/Order Receipt or through Vendor Invoice, the Accept Asset command is only available after the invoice for the asset has been paid. You will see these asset records in the Asset Management window and may add information to them, but the system won't allow you to accept them until the vendor invoices have been paid in Payment Management.

Once an asset is Accepted, it can't be deleted, but it can be disposed. See Dispose an Asset for more information.

Accept an asset

1. Select Asset Management from the Purchasing & Payables / Capital Assets menu. The Asset Management window opens.

2. Check the box(es) for the asset you want to accept, and click Accept Asset. The Accept Asset window opens.

3. From the Accept Asset pull-down, select either:

• Use asset's in-service date, or

• Specify acquisition transaction date, and enter the Transaction Date.
  Use this option for historical assets if you didn't already enter the actual in-service date when you added the asset to the system — for example, a bus purchased in 1995 that you're now entering in AptaFund. Enter a date that falls within the current accounting cycle. Then edit the In Service Date on the asset record to designate when the asset actually came into service.

4. Click OK. The Results window opens.

5. Click Close when you're done reviewing the results.

Return to Asset Management Overview