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Administrator Guide
Last Updated: 2025-11-14
Register Composite Assets

Register Composite Assets

Use the
Register Composite Asset
 task to compose discrete and nondiscrete composite assets. Composite assets consist of different types of assets that you can use together before you place the assets in service. You can easily track and account for multiple registered assets with a single depreciable lifespan.
  1. Access the
    Register Composite Asset
     task.
  2. As you complete the task, consider:
    Option Description
    Company
    A company with an asset book.
    Spend Category
    The acquired expense item or purchase item that you want applied to the composite asset for tracking. The spend category, when used in an asset accounting rule, identifies when the accounting treatment is other than expense.
    Item
    You can only select from tangible items that have a tracked spend category.
    Asset Name
    Asset Description
    You can change the default name and description 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
    Defaults to the available values from the selected 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.
    Discrete Component Lifecycles
    Select to have Workday search for pooled or single assets that you add as part of the discrete composite asset. Clear to display search results listing registered pooled or single assets that you can add to the nondiscrete composite asset.
    Acquisition Date
    Workday uses the purchase order, receipt, supplier contract, or supplier invoice date to initiate the assign accounting step of the
    Receipt
     or
    Supplier Invoice
     business processes. If you change the date, enter an
    Acquisition Date
     that is in the past.
    Location
    Identify the custodial information of where the asset belongs. Workday populates the
    Location
     from the value you specify during asset registration.
    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.
  3. After you submit, specify the search criteria to find and select the assets you want to use for building the composite asset.
    Workday displays the updated quantity and total value of the composite asset based on the assets you selected.
  4. When you’re finished adding assets to the composite asset, preview and make edits to the composite asset details.
The
Asset Registration Event
business process routes the transaction for review and approval. Once the asset registration is approved and completed, Workday changes the asset status from
Pending Registration
 to
Registered
. Workday creates the composite asset with a new asset ID and begins tracking it as a single asset. If the asset is a discrete composite asset, then each asset has separate lifecycle events. If the asset is a nondiscrete composite, then each asset shares lifecycle events.
When you include business assets created from project capitalization in composite assets, Workday makes the capital project asset unavailable for further adjustments.