1 Create an Item
2 Search/View an Item
3 Edit an Item
4 Delete an Item
5 Depreciate Items
6 Recalculate
7 Item Depreciation Adjustments
8 Split Item
- 8.1 Steps to split an item:
9 Miscellaneous Item Information
- 9.1 Item Field Information
- 9.2 Original Cost
- 9.3 Types of Leases
- 9.4 Item Status

Items is used to access the records of items in the inventory system. It is also used to add new items, modify data on existing items, delete item record, depreciate items and split items.

The functionality of this module depends on the setting of the GAAP Flag found in Core>Configuration.

If the flag is unchecked, items allows you to manually change the fund, function, asset class, and original cost of any item. You are also able to add items without being prompted for an acquisition transaction.
If the flag is checked, you are limited to the manual modifications that can be made to existing item records. Specifically, the fund, function, asset class, status and original cost of items are non-modifiable. Changes to these fields must be done by posting transactions via the other modules under Transactions. The system also automatically creates an associated acquisition transaction when adding a new item to inventory.

Create an Item

An item can only be created in an open period. If your GAAP flag is set, once you click on 'create', it will first require the acquisition information. Once entered, you will click on 'continue to item' to complete the rest of your new item information.

Acquisition Information Window

From the Transactions menu, select "Items" to display the Items grid.
Click ‘create’ to begin creating the item starting with the acquisition information related to the new item.
1. A blank acquisition screen will appear allowing you to either enter the acquisition information manually or if the information is included on the pending grid, use the 'pending item' drop-down box to select the acquisition information that is currently stored in pending items.
  1. If pulling the information from the pending file, it will populate many of the fields on this screen. Please enter a new tag number and modify any information necessary. Once the information is pulled from the pending file and the item is posted to inventory, the data will be automatically removed from the pending grid.
  2. If manually entering the acquisition information, please enter the desired information. NOTE: careful attention should be made when entering the account, vendor, PO and check entries as it does not validate them against USAS-R.
    1. NOTE: The tag number can be numeric or alphanumeric. The max number is 20 characters.
After completing the acquisition information click on to add the acquisition record and advance to the Items window to enter the item information. If you wish to exit out of the acquisition, click on to cancel out without saving changes.

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.

6. To cancel out of the item window in order to edit the related acquisition information, click on to cancel without saving. The related acquisition entry window will display. Click allowing you to make changes to the acquisition data. Once updated, click on to continue to the item window.

7. To cancel out of the item and its related acquisition data altogether, click on to close the item window without saving. This related acquisition data window will display. Click on to close out of the acquisition data without saving. Any item or acquisition information entered will not be saved.

8. If there are additional acquisitions to be posted for this item, click on . The Acquisition window will appear (below) allowing you to create additional acquisitions against the existing item. You may also post additional acquisitions to existing items via the Transactions>Acquisitions too.

Search/View an Item

The Items grid displays existing items on file. You can search for existing items by clicking in the filter row in the grid columns and entering in the desired information. By default, the grid sorts by Tag Number. Click on to generate a CSV or EXCEL formatted spreadsheet based on what you filtered. Click on any row of the search results to see a highlight view of the record. Click the view icon to view a particular item From there, you have the option to edit it, add an acquisition acquisition or split an item.

TIP: To find a specific value, you can enter the entire value. However, most columns will auto filter as you type, narrowing down your search to including your search criteria. For example, to find tag #190980, enter '19098' and it will display tag numbers between 190980 -190989 on the grid. Percentage symbol '%' can be used as a wildcard on most columns in the filter row. Less than < and/or greater than > symbols can also be used on numeric based or date columns in the filter row.

Use the More icon to add or remove columns from the grid.

Edit an Item

NOTE: The fund, function asset class and original cost are non-modifiable fields. You must create transfer or acquisition transactions to update these fields. The status can not be changed to "D".

Query for desired item
Click on the edit icon
Make desired changes
Click on to post the changes to the system. Click on Close to close the window and return to the grid without saving changes.

Delete an Item

Deleting an item is not the same as disposing of an item. Deleting an item will remove the item from the system. Disposing of an item will not remove the item from the system. Instead, it will change the status of the item to 'disposed of' when a disposition transaction is created for the item in Transactions>Dispositions. Please refer to Dispositions for more details.

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.

If the GAAP flag is unchecked, you may delete any item on the system.

Query the desired item
Click on the Delete icon
Confirm you want to delete by clicking on

Depreciate Items

The 'Depreciate' button on the grid program recalculates LTD depreciation field from scratch. It does NOT calculate the depreciation for the current fiscal year. Another year's worth of depreciation will be automatically calculated and the LTD depreciation updated when an open period is closed. The checkboxes located on the left side of the grid are intended to be used with the depreciate button. You may check specific items to calculate depreciation on or you can use the top checkbox to select all items based on the filter you entered.

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).

Items with a status of inactive, old tag or disposed will be ignored when using depreciate.

Depreciate allows you to run a projection or actually update the LTD depreciation for selected items on your grid. Check the box to select the items you want to run depreciate on and click .

A projection run is selected by default. We recommend running a projection report prior to actual in order to review the report's information. Each item's current LTD amount (before) and projected LTD amount (after) as well as the calculated difference is detailed on the report. A grand total is included for each amount at the bottom of the report. If depreciation is already up-to-date on the item, the item will not be included on the report.

True (historical) depreciation vs. re-calculating depreciation

For example, suppose you increase the original cost of a depreciating asset by adding an additional acquisition. A computer with an original cost of $1000 is being depreciated over a period of 8 years. After 4 years, $400 of additional memory is added via an additional acquisition updating the original cost to $1400. For the first 4 years, the computer depreciated $125/year for a total of $500 (one half of its useful life). But since its value has just been increased by $400, the current book value is $900, which will be depreciated over the remaining 4 years. After the upgrade, the next 4 years, it will depreciate at $225/year until it's fully depreciated. However, if 'Depreciate' were run on this item after the additional acquisition, the life-to-date depreciation would be re-calculated over the entire life of the item using the new original cost ($1400/8 years) depreciating at $175/year. The historical 'true' depreciation will no longer exist when using 'depreciate' to re-calculate LTD depreciation.

Recalculate

The "Recalculate" button on the grid will allow the items original cost to be recalculated to equal the sum of the acquisition amounts. This feature is restricted to Admin permission only. If an item's original cost does not equal the sum of the acquisition amounts, please reach out to your ITC for assistance in resolving the issue.

Item Depreciation Adjustments

In order to edit an item's existing LTD depreciation to a specific value, you may create a 'Depreciation Transaction'.

Query the item and select 'Edit'.
Under Depreciation Transactions, click . The Fiscal Year will default to the open period that is marked current. The default 'type' will always be Adjustment
Optionally enter a description for the depreciation adjustment.
Enter the amount of the depreciation adjustment. You can enter a positive or negative The amount entered will be added (or subtracted) to the existing LTD Depreciation amount.
Click to complete the transaction.

Split Item

icon is available when viewing an item record. It allows you to split a lot item into multiple items. A lot is defined as a collection of like items which are recorded on the inventory file with a single tag number, but with a value greater than one in the "number of items" field on the item record. Split is very useful in splitting a purchase order lot into multiple tag items on the inventory file. It is also useful in situations where part of a lot is to be disposed of or moved to a different location.

When using 'Split', item records for each of the new tag numbers created are automatically posted to the system. Acquisition records will be posted as well if the item being split contains acquisition transaction(s). The original cost, replacement cost, and depreciation value of the item being split are also automatically prorated among the individual tags.

In order to split an item, it must have a quantity greater than one in the "number of items" field and it can not have a status of disposed of, inactive, or old tag item.

Steps to split an item:

The split option is accessible when viewing an item. Click on ‘Split’
A projection run is selected by default. The tag number to split is displayed in the Original Tag # as read only, the Starting Tag Number which may be edited, and the # of New Tags along with the Original Cost displayed but not editable.
Click + or - to increase or decrease the # of new tags you want to split the item into. The max # of new tags cannot exceed the original 'number of items' quantity on the item record (which is noted below the field)
Click on 'Validate Input' to verify the starting tag and consecutive, subsequent tags it will be split into are available to use. If an error occurs, it will display the error message and allow you to make corrections to the start tag # and/or # of New tags entered.
Once your validation is successful, the ‘Edit Items' button is activated. Click on ‘Edit Items’ to display a pop-up Split Item window allowing you to change the tag number, number of items, serial number, model number, location and organization unit for each split tag.
Make any necessary changes on the Split Item window. A projection of the Original Cost for each item will be displayed along with the Total Items and Total Cost. Click on ‘Validate Input’ to verify your entries. If validation is successful, the ‘validate input’ option will change to ‘split item’. By default, a projection report will be selected. Click on ‘split item’ to generate a preview report of the changes that will take place.

It will generate a SplitReport.pdf projection report. Please review the projection to ensure the data on the original tag and the tags it will split into are correct.

If everything is correct, exit the projection report. The split item window will still be displayed. Uncheck projection and click ‘Split Item’ again to actually split the tag. Another SplitReport.pdf (actual) report will be generated detailing the split item information.

Miscellaneous Item Information

Item Field Information

Item Field Name	Field Required	Description

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.

Original Cost

The original cost of an item should include any shipping and fees incurred in the purchase of the item. However, it should exclude any discounts or interest charges.
The original cost for items that have been donated should be set equal to the fair market value.
If the GAAP flag is checked, the original cost can not be modified through Items. You will need to post an acquisition for the difference and check the "Update original cost" flag when posting the record.

Types of Leases

There are two types of leases, Capital and Operating. According to CPA Robert L. Snyder, in "Fixed Asset Accounting and Control System," a lease is considered a capital lease if it meets one or more of the following criteria, otherwise it is an operating lease.

The lease transfers ownership of the property to the lessee.
The lease contains a bargain purchase option.
The lease term is equal to 75% or more of the estimated economic life of the leased property.
The present value of the minimum lease payments (excluding executary costs) equals or exceeds 90% of the fair value of the leased property.

Capital leases are included on the GAAP schedules, while operating leases may optionally be kept on the system for the district's use if desired. For a capital lease, the original cost is the total present value at the time of inception. The total present value is the total of all lease payments LESS interest. Thus, the lease is capitalized once, not as payments are being made.

The important field for a lease is the lease type field. The state defined codes are C = Capital and O = Operating.

Item Status

The item status can not be set to "D", Disposed of, in Items. A Disposition must be posted to dispose of the item. Items that incorrectly have a status of "D" will either need to be reentered or the Disposition will need to be deleted.