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Administrator Guide
Last Updated: 2025-03-14
Steps: Configure Intangible Business Assets

Steps: Configure Intangible Business Assets

  • To register assets from supplier contract receipt lines, add the
    Initiate Asset Registration Events from Receipt for Supplier Contracts
     service step to the
    Receipt
    business process.
  • To create tasks in My Tasks to generate installments for supplier invoice schedules:
    • Add the
      Review Schedule for Installment Generation
       task to the
      Receipt
      business process.
    • Configure the
      Create Supplier Contract Schedule Installments for Receipt
       business process.
  • To require approvals when you change the in-service date of assets, configure the
    Asset Adjust In Service Event
     process.
  • To specify ledger accounts where Workday records accrued liability for assets that you register from supplier contract receipt lines, configure the
    Business Asset Registration Accrued Liability
     account posting rule.
You can configure Workday to:
  • Register intangible assets from supplier contract receipt lines. Example: Broadcasting rights.
  • Amortize intangible assets according to the supplier contract terms, enabling you to accurately reflect the value of assets in financial statements.
You can't register intangible assets directly from purchase orders or supplier invoices.
  1. Create spend categories for intangible business assets:
    • Select
      Procurement
       from the
      Spend Category Usage
       prompt.
    • Select these check boxes on the
      Asset Tracking
       section:
      • Track Items
      • Intangible
  2. Create depreciation profiles for intangible assets and select
    Term
     as the depreciation method for the amortization schedule.
  3. Create a supplier contract with goods lines and define the contract terms.
    As you create a contract type for the supplier contract:
    • Select the
      Scheduled Invoices
       and
      Receive Contract Line
       check boxes.
    • Don't select the
      Manual Purchase Orders
      ,
      Financial Lease
      , or
      Operating Lease
       check boxes.
      Workday can't initiate asset registration for intangible assets from contract types that include purchase orders, and you can't select intangible spend categories on goods lines for lease-type supplier contracts.
    As you add goods lines to the supplier contract:
    • In the
      Item and Category
       column, select a spend category that you've configured for intangible business assets.
    • Enter a start and an end date in the
      Dates
       column.
      Workday uses the contract start and end dates to determine the useful life of intangible assets.
    • Enter a date in the
      In Service Start Date
       column.
      Workday populates the in-service date of assets with this date.
  4. Create a supplier invoice schedule for the supplier contract.
    1. In the
      Date Options
       section, select the
      Defined Date
       check box and select a date.
    2. When you process contract amendments, select the
      Automatically Regenerate Installments
       and
      Automatically Submit Schedules
       check boxes in the
      Amendment Processing
       section.
  5. Workday initiates the registration of intangible assets when you create supplier contract line receipts.
    To manually register intangible assets, you can access the
    Register Assets
     task and enter supplier contract details.
The
Assets
 tab on the supplier contract displays assets registered from supplier contract receipt lines.
The
Acquisition Information
 section on the
General
tab of assets displays receipt, supplier contract, and supplier contract line details.
When you change dates on supplier contract lines, adjust the in-service date of intangible assets accordingly. See Adjust In-Service Dates of Assets.