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4. Enter the desired item information. Some of the fields will be pre-populated depending if the item was pulled from the pending file. For more information on the required fields, format and definition, please refer to the Item Field Information
5. Click on 
to add the item.
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If the GAAP flag is checked, you may delete capitalized assets with an acquisition date in an open and current period. If the capitalized item was acquired in a prior year, you cannot delete the item. Instead, you must post a disposition. Items that incorrectly have a status of "D" will either need to be re-entered or the Disposition transaction will need to be deleted. Non-capitalized assets may be deleted regardless of their acquisition date.
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| Warning |
|---|
Making changes to the depreciation information for existing items usually occurs when a district is cleaning up their data in preparation for GAAP reporting. Once a district is actively tracking depreciation, this program should be used only with extreme caution. (Refer to Historical vs. Recalculated depreciation). |
| Note |
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Items with a status of inactive, old tag or disposed will be ignored when using depreciate. |
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Item Field Name | Field Required | Description |
|---|---|---|
| Identification Information | ||
| Tag Number | Required | The locally defined tag identification number. Each item on the item record file must have a tag number regardless of whether or not the item actually has a physical tag. Tag number is a max of 20 numeric or alphanumeric characters. |
| Secondary Tag | Similar to the tag number but is used primarily to record tags supplied by the State of Ohio or the Federal Government to identify items purchased with matching state or federal dollars. | |
| Serial Number | The item's serial number if applicable. | |
Model Number | The item's model number if applicable. | |
| Appraisal Tag | A tag number supplied by an appraisal company. | |
| Description | Required | A brief description of the asset. When adding an item via the pending file, the description will contain the PO Item description. |
| Accessories | A listing of accessories or enhancements for the item. | |
| Composite ID | Can be used to indicate the item is a component of a larger asset. This identifier should be the same for all members of the composite item and can be alpha or numeric. | |
| Category Code | The item's Category Code as defined in Core > Category codes. | |
| Entity ID | Used to identify different entities within the same reporting entity. This ID can be used to exclude all items belonging to a particular entity from the GAAP schedules or to generate schedules for specific entities. This code can also be alpha or numeric. | |
| Number of Items | Required | Used to indicate the number of items with the same tag number. If item data is pulled from pending file, this will be the quantity of the PO item. |
| Current Information | ||
| Fund | Required if GAAP Flag is checked | The item's fund code as defined in Core > Funds. |
| Function | Required if GAAP Flag is checked | The item's function/activity code as defined in Core > Functions. |
| Asset Class | Required if GAAP Flag is checked | The Asset Class as defined in Core > Asset Classes. |
| Organization Code | The Organization Code as defined in Core > Organization Codes. | |
| Condition Code | Specifies the physical condition of the item as defined in Core > Condition Codes. | |
| Location Code | The item's Location Code as defined in Core > Location Codes. | |
| Status | Required | The item's status code as given by one of the following state defined codes: Active, Inactive, Disposed Of, New Item, Old Tag Item, Excess Asset Held For Sale, Excess Asset Not In Use. Only items coded as Active, New Item, Excess Asset Held For Sale, or Excess Asset Not In Use will be considered for GAAP reports. |
| Replacement Cost | The estimated cost to replace the item. This may be different than the original cost. This will default to the amount entered as the acquisition amount. | |
| Insurable Value | The estimated value of the item for insurance purposes. This will default to the amount entered as the acquisition amount. | |
| Physical Inventory Date | The date of the last physical inventory. | |
| Physical Inventory Comment | Can be used to add any notes on the inventory. | |
| Acquisition Information | ||
| Acquisition Date | Required | The date the item was received, not the purchase order date. |
| Acquisition Method | Required | The item's method of acquisition as given by one of the following state defined codes: Donated, Leased, Other, Purchased. |
| Beginning Balance | If capitalized at the beginning of the current period, the original cost of the item will appear here. | |
| Original Cost | Required | The cost of the item as given on the purchase order(s) or the sum of all acquisition amounts for the tag number. |
| Discount Amount | Any discount excluded from the original cost. This is for informational purposes only and does not affect GAAP schedules. | |
| Depreciation Information | ||
| Depreciation Method | Required | The item's depreciation method as given by one of the following state defined codes: Declining Balance, Straight Line, None. |
| Factor | A factor used in the declining balance method of depreciation. | |
| Beginning Date | Required if there is a Depreciation Method chosen | The date in which depreciation is to start. NOTE: The beginning depreciation date cannot be before the item's acquisition date. |
| Life Expectancy | Required if there is a Depreciation Method chosen | The number of years the item is to be depreciated. |
| Salvage Value | The estimated value of the asset at the end of the depreciation period. | |
| LTD Depreciation | The Life-to-date depreciation. This is the total amount of depreciation for the item from the beginning depreciation date until the last fiscal year closed. | |
| Lease Information | ||
| Lease Type | The item's lease type as given by the state defined codes of: C-capitalized or O-operating (please see Types of Leases for further explanation). | |
| Payment period | Period of the lease payment: A=annually, M=monthly, D=daily, Q=quarterly, S=semi-annually, W=weekly. | |
| Vendor | USAS vendor number from whom the item is leased. | |
| Inception Date | Date the lease begins. | |
| End Date | Date the lease expires or the date the district takes full ownership of the item. | |
| Payment Amount | Amount of the periodic lease payment. | |
| Interest Rate % | Rate of interest charged by the vendor. | |
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