Fixed Asset Web Version Functionality Removed
Creating new assets within the Fixed Asset Module was moved to the WebBased Version in December. Until that time, we were able to still create assets in the database view. Within the database version, were previously able to select “More Journal” entries. This functionality is how we were able to place assets in and out of service from Construction in Process. However, that functionality appears to have been completely removed within the WebBased version. It seems that functionality is being removed as these modules move to the WebBased version despite being told we would not.
Comments
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@Mark Young I'm having difficulty understanding what functionality in database view to which you're referring. I'm unable to find an option/button for “More Journal” entries on the fixed assets records or in the creation of a new asset. Can you please elaborate on where you see this option and maybe provide a screen shot? Thanks!
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Fixed Assets - Misc Entries function.docx@Nikki Baldwin
There was previously a dropdown option that allowed us to journalize additional entries related to the acquisition of an asset.0 -
@Mark Young, oh, Misc. Entries! Got you – and yes, while that function isn't specific to Fixed Assets, it's not available in webview. We have said that some workflows would change, but you'd still be able to achieve your same end goals with the changing functionality.
I'm not quite understanding the accounting principles behind using that option to put an asset in and out of service, however. I would think that since you'd likely be pausing depreciation, you'd want to use an improvement transaction, or if it causes a greater depreciation, an accumulated deprecation transaction--even a manual Journal entry, maybe? Here is a Knowledgebase article which discusses best practice on how to change, write-off, or dispose of a portion of an asset: https://kb.blackbaud.com/knowledgebase/articles/Article/375250 -
@Nikki Baldwin
Thanks for the update. I am a little discouraged that upgrading to webview for something that the system was previously able to handle now has to be a manual adjustment by my team. My team will have to build new processes around this item, but I am worried about additional lost functionality as the migration continues.
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@Mark Young I definitely understand your concern and you can certainly follow along with changes here: https://webfiles-sc1.blackbaud.com/files/support/helpfiles/fe/content/fe-db-to-web.html? but I don't think the transactions you'd need to properly take an asset in and out of service are any more manual than the misc. entries drop-down since that was not associated with any type of actual transaction on the asset record. Have you discussed this method with your auditors to see what GAAP principles make the most sense to employ here?
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Our process was at the suggestion of Blackbaud's Sr. Implementation Analyst at the time of our our implementation phase (Fall 2021) as it aligned our USGAAP accounting requirements and process simplification requirements. I will handle the change in process required to keep us compliant as a result of the lost functionality.
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