Register Assets

Set up asset tracking or asset accounting. See:

Define the Asset Registration Event
business process and corresponding security policy.

(Optional) Automatically register assets or assign accounting information by adding these automated steps on the Asset Registration Event
business process:

Register Business Asset Automatically

Assign Asset Accounting Automatically

Register through a receipt and include the Initiate
Register Business Assets from Receipt
service step in the Receipt
business process.

Register through a supplier invoice and include the Initiate
Register Business Assets from Invoice
service step in the Supplier Invoice Event
business process.

Initiate registration for supplier contract receipt lines. Add the Initiate Asset Registration Events from Supplier Contract Receipt
service step in the Receipt
business process.

Asset registration can be initiated for supplier contract lines you define with Intangible
as a default on the spend category.

To track an asset, register it with a company. You can register assets when you:

Receive goods directly (not through procurement).

Create a receipt for procured goods or supplier contract receipt lines.

Create a supplier invoice for procured goods or supplier contract receipt lines.

Assets that you register from supplier invoices and purchase order receipt lines can have a negative cost or a cost of zero.

You can also use the Register Assets
web service to register assets. When you enable asset tracking without asset accounting, register all assets with an accounting treatment of expense.

Registration methods differ:

For manual registration, access the

task.

For registration through the Receipt
business process, click the related My Tasks.

For registration through the Supplier Invoice Event
business process, click the related My Tasks.

For registration through receipts and supplier invoices, Workday automatically routes the

task or the

Review Trackable Lines

task to the appropriate My Tasks. When reviewing trackable lines, you can register pooled assets as a single asset when they meet the asset pooling rules requirements. You can also override the asset pooling rules and register each asset individually. Use the

task to register similar assets that meet the asset pooling rules requirement.

As you complete the task, consider:

Option	Description
Company	A company with an asset book.
Spend Category Item	The acquired expense item or purchase item that you want to track as an asset. You can only select from items that have a tracked spend category. The spend category, when used in an asset accounting rule, identifies when the accounting treatment is other than expense.
Asset Name Asset Description	You can edit or enter information in these fields to reflect how your company tracks this asset.
Asset Identifier Serial Number Manufacturer	You can define these additional attributes to improve searching and tracking.
Asset Class Asset Type	Default values are based on the specified spend category, but you can change them. Workday uses these attributes for bonus depreciation rules and external reporting.
Coordinating Cost Center	Workday populates the cost center from the Worktags prompt when it has a cost center worktag and you enable the functionality in your tenant. Select the Auto Populate Coordinating Cost Center check box in the Business Assets Options section on the Edit Tenant Setup - Financials task.
Asset Coordinator	Select the worker in possession of this asset.
Acquisition Method	Select the method for acquiring the asset, such as Leased or Purchased .
Acquisition Date	The document date automatically populates when the asset source is a purchase order receipt, supplier contract receipt, or supplier invoice. To initiate the assign accounting step of the appropriate business process, the date must be in the past.
PO Number	The source document of the transaction that initiated the asset registration. Workday calculates taxes and freight from the purchase order for assets created from a receipt without a supplier invoice.
External Contract Number	When the business asset originates from a supplier contract line, Workday populates the supplier contract number and contract start date from the contract.
External Contract Start/End Date	The start and end dates of the supplier contract line for this asset. Workday requires contract dates for supplier contract-based assets.
Cost Currency Quantity	The cost of the asset at time of acquisition, in the base currency of the company that the asset belongs to. If the asset source document was in a foreign currency, Workday brings in the base currency amount as the asset cost. For nondiscrete composite assets, the cost is the sum of the component allocation costs. For pooled assets, the cost is the total cost of all items in the asset pool. Quantity displays how many assets are in an asset pool or how many are being used as part of a composite asset.
Location	The physical place where you store an asset or it is in use. If capitalizing a project asset , Workday populates the location from the project when it has a location worktag.
Worktags	Use worktags as keywords to more easily classify and find transactions. Configure the allowed worktag types on the Maintain Worktag Usage task. When you select a worktag type that has related worktags, Workday automatically populates transactions with the related worktag values. When you enable optional worktag balancing on the Maintain Worktag Balancing Configuration task, Workday fully balances journal lines by optional balancing worktags. Journal lines automatically: Inherit optional balancing worktags based on the worktag types selected. Generate due to and due from entries to balance transactions. Leased assets inherit the worktags you entered on the supplier contract lines.

When you initiate registration from the receipt and supplier invoice events, Workday automatically populates information from the source document.

The Asset Registration Event

business process routes the transaction for review and approval. Once the asset registration is approved and completed, Workday changes the status for the asset from Pending Registration
to Registered
. Workday assigns a business asset ID, enabling you to track it. If the asset registration is denied or canceled, Workday removes the asset from the asset register, and changes the status of the asset to Removed
. If the receipt and supplier invoice business processes both include a step that registers an asset, Workday doesn't duplicate registration.

For capital assets, Workday routes the

Assign Assets Accounting Information

task to the appropriate My Tasks. The assign accounting information service step must be in the Asset Registration Event
or Supplier Invoice Event
business process definition .

When a manually registered asset doesn't meet custom validation criteria, it generates a critical error. Select

Edit Asset Registration

from the related actions menu of the asset to fix the error so that Workday can complete the asset registration process.

Track the asset. See:

Concept: Asset Tracking Tasks

Concept: Asset Accounting Tasks

Concept: Accounting Impact of Asset Lifecycle Events

Concept: Pooled Assets

Concept: Composite Assets

Create Lease-Type Supplier Contracts