Update Fixed Asset Tags

Existing asset tags can be modified in Rental Inventory.

This options allows access to the fixed asset tags on a rental item and is useful to correct Fixed Asset information or depreciation information.

The fixed asset information may be changed on any of the tags already setup.
To add a new tag, use Rental Inventory instead.
The prompts to access existing Tags are:

PRODUCT #

Enter the product number, or look it up in the Inventory Search window.

ASSET TAG #

• If the item is non-bulk, accept the fixed asset tag number displayed.
• If the item is bulk and does NOT allow Multiple Tags, accept the fixed asset tag number displayed.
• If the item is bulk and has Multiple Tags, select from the active tag numbers in the drop-down list.

Fixed Asset Tag Information:
The current tag information is displayed and can be modified as follows:

DIVISION

This is the Owning Division on the tag.
This can be updated as required.

ORIGINAL COST

The total Original Cost (Current Tag Qty * Avg Cost Each) will display.
This can be updated as required.

Note: By changing the Original Cost, the Average Cost and the Book Value are also adjusted.
If the average cost for a product is changed, use Post Product Average Cost Changes, to print an audit report and to generate the G/L postings for the change in the Inventory value.

ACCUM DEPN

The total Accumulated Depreciation (Current Tag * the Average Depreciation Each) will display.
This can be updated as required.

This value also updates the "Depreciation History" and will be used when calculating the next Depreciation.

BOOK VALUE

The total Book Value (Total Original Cost - Total Accum Depr'n) will display.
This value is the result of a calculation, and cannot be changed manually.

DATE ACQUIRED

The date acquired will display.
This can be updated as required.

DEPRECIATION CLASS

The Depreciation Class assigned to this tag will display.
This can be updated as required.

CURRENT TAG QTY

This is a display field only.

AVG COST EACH

This is a display field only, and will adjust automatically if the Original Cost is changed.

AVG BOOK VALUE EACH

This is a display field only, and will adjust automatically if the Book Value is changed.

Finished? Click the ACCEPT button to begin printing the report, or CANCEL to abort.

COST ADJUSTMENT DATE

When the original cost is changed and accepted the Operator is prompted for the Cost Adjustment Date as outlined in Cost Adjustment.
This date is used to track cost changes and is reflected in View Average Cost Adjustments.

ACTIONS:
Additional actions provided by buttons on the Update Fixed Asset Tags screen include:

• Export Existing Tag Data:
  Click the EXPORT button at the bottom left of the screen to create a spreadsheet of selected Rental Asset Tag information, that can be modified in preparation for re-importing, as outlined in Asset Tag Export.

• Import Modified Tag Data:
  Click the IMPORT button to update the modified Asset Tag data for selected Rental Assets as outlined in Asset Tag Import.