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Administrator Guide
Last Updated: 2026-07-10
Concept: Asset Accounting Tasks

Concept: Asset Accounting Tasks

Asset accounting tasks enable you to track the financial value of capital assets in asset books.
When you set up asset accounting, you can access:
  • Asset tracking tasks for all assets, including expensed assets that you capture for tracking purposes only. See Concept: Asset Tracking Tasks.
  • Asset accounting tasks for capital assets.
Before initiating new changes on assets, you must complete any lifecycle events in progress.

Business Process-Initiated Tasks

As you complete business processes for business assets, Workday creates these tasks in My Tasks:
Task
Description
Security
Assign Asset Accounting Information
Upon capital asset registration, you can update the accounting treatment and information in the primary asset book.
Configure the
Asset Assign Accounting Event
 business process and security policy in the Business Asset Accounting functional area.
Review Trackable Invoice Lines
You can review trackable lines before registering assets from supplier invoices.
Configure the
Supplier Invoice Event
 business process and security policy in the Supplier Accounts functional area.
Review Trackable Receipt Lines
You can review trackable lines before registering assets from receipts.
Configure the
Receipt
 business process and security policy in the Procurement functional area.

Related Actions

You can access these asset accounting tasks from the related actions menu of registered capital assets. Task availability depends on:
  • How you register the assets. See Register Assets.
  • The status and accounting treatment of the assets.
  • Previous activity on the assets.
Task
Description
Security
Adjust Acquisition Cost
Adjust Post-Acquisition Cost
You can adjust the acquisition cost of an asset. You can also add tax, freight, or post-acquisition costs for items such as major repairs.
Configure the
Asset Cost Adjustment Event
 business process and security policy in the Business Asset Accounting functional area.
Adjust Asset
You can change rate schedules on assets that use custom rate schedules and are in service. Workday applies the new rate schedule starting on the transaction effective date that you select.
Configure the
Asset Adjustment Event
 business process in the Business Asset Accounting functional area.
Change Accounting Information
You can change the accounting treatment and information of assets in all accounting books.
Configure the
Asset Assign Accounting Event
 business process and security policy in the Business Asset Accounting functional area.
Change Asset Book Configuration
You can change the accounting treatment and information of assets in nonaccounting books.
Process: Non-Accounting Asset Books
 domain in the Business Asset Accounting functional area.
Change Depreciation Accounting Status
To avoid generating accounting journals for prior depreciation expenses, you can set the accounting status for depreciation expense lines or clear the accounted status on assets in an asset accounting book.
Process: Business Asset Accounting
 domain in the Business Asset Accounting functional area.
Correct Useful Life
Adjust Useful Life
If you initially configure an asset with an incorrect useful life, you can correct it. When a change occurs in the estimated useful life of an asset, you can also adjust the useful life.
Configure the
Asset Useful Life Update Event
 business process and security policy in the Business Asset Accounting functional area.
Dispose
You can dispose of assets that you no longer track in your accounting records.
You can also dispose of multiple assets at once using these tasks:
  • Dispose Assets
  • Dispose Expired Assets
Configure the
Asset Disposal Event
 business process and security policy in the Business Asset Accounting functional area.
Impair
To reflect the current worth of assets when the fair market value falls below the net book value permanently, you can book impairments.
Configure the
Asset Impairment Event
 business process and security policy in the Business Asset Accounting functional area.
Maintain Asset Shares
You can split asset cost and depreciation across multiple cost centers or other worktags.
Configure the
Asset Share Event
 business process and security policy in the Business Asset Tracking functional area.
Place in Service
You can place depreciable capital assets in service manually to start recording amortization or depreciation without issuing them to workers.
You can place assets in service manually only when their status is
Registered
.
You don't need to manually place assets in service when you issue them to workers, or when you place them in service upon acquisition.
Process: Business Assets
 domain in the Business Asset Tracking functional area.
Reclassify
You can reclassify the spend category of a capital asset. For assets with posted depreciation, you can also change the:
  • Asset class.
  • Asset type.
  • Useful life.
Configure the
Asset Reclassification Event
 business process and security policy in the Business Asset Accounting functional area.
Reinstate
You can reinstate assets you've disposed of.
Configure the
Asset Reinstatement Event
 business process and security policy in the Business Asset Accounting functional area.
Resume Depreciation
You can resume depreciation for suspended assets.
Process: Business Asset Accounting
 domain in the Business Asset Accounting functional area.
Suspend Depreciation
You can suspend depreciation for assets.
Process: Business Asset Accounting
 domain in the Business Asset Accounting functional area.

Other Tasks

You can also:
  • Record depreciation and amortization expenses for company assets. See Record Asset Depreciation and Amortization Expenses.
  • Identify and fix a journal error using the
    Fix Operational Journal With Errors
     task.
  • Use the
    Get Asset
     web service to create an outbound EIB and send asset data to an external tax depreciation service.