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Administrator Guide
Last Updated: 2026-07-10
Steps: Set Up Asset Books for a Company

Steps: Set Up Asset Books for a Company

You can set up asset books to populate accounting treatments and depreciation profiles when you register capital assets. You can set up:
  • Accounting books for journals and reporting, such as the International Financial Reporting Standards (IFRS) or U.S. Governmental Accounting Standards Board (GASB).
  • Nonaccounting books for reporting purposes, such as federal tax, state tax, alternative minimum tax (AMT), or adjusted current earnings (ACE).
  1. You can use custom depreciation rate schedules as an alternative to Workday-owned depreciation methods when:
    • No Workday-owned depreciation method fits your depreciation requirements.
    • You anticipate you'll need to reassess the amortization or depreciation of assets during their useful life.
  2. You can use custom depreciation conventions when no Workday-owned depreciation method fits your depreciation requirements.
  5. Access the
    Maintain Asset Books
     task.
    Create asset books with descriptions for your organization. The first time you set up asset books for a company, create an accounting book to use as the primary book.
    Security:
    Set Up: Business Asset Accounting
     domain in the Business Asset Accounting functional area.
  9. (Optional) Access the
    View Company Asset Books
     task.
    To edit your asset books, click
    Update Asset Books
    .
    Security:
    Process: Business Asset Accounting
     domain in the Business Asset Accounting functional area.
After you register capital assets and assign accounting information, Workday adds them to each asset book. Workday populates the accounting treatment and depreciation profile from the asset book rules that you set up.
When you apply an accounting treatment of
Depreciable Capital Asset
, Workday generates the depreciation schedule when you place assets in service.