Creating Asset Numbers
Departments are responsible for creating asset numbers prior to entering requisitions into IRIS. Below is a summary of the procedure for creating assets in IRIS. Detailed instructions for completing this transaction are available within IRIS transaction AS01 by going to the top of the screen and clicking on Help >> IRIS Help.
- Asset numbers are required for movable equipment with a value of $5,000.00 or above and sensitive minor equipment that is valued between $1,000.00 and $4,999.99.
- When an asset number is required, create the asset number before creating the requisition.
- Go to Transaction AS01 - Create Asset: Initial Screen
- The proper classification for sensitive minor equipment is 80,000.
- The proper classification for movable equipment with a value > $5,000 should be chosen from the drop-down list in the Asset Class data block of the Create Asset: Initial Screen
- Time-dependent Tab
- On the Time Dependent (TD) tab, leave the Business area blank
- The Cost Center on the TD tab is M070000001 for our campus
- The Resp. cost center is the E account that will be responsible for the annual inventory of this item
- If the asset is purchased against an E account, enter the E account number in Fund field
- or -
if the asset is purchased against an R account, enter the R account number in the Fund field
- Location (Building No. and Room No.) This is where the equipment will be located. This is important for doing inventory.
- Allocations Tab
- Source of Funds
- The Distribution Code on the Allocations Tab should be 003
- Save Asset
- Enter Asset # into the requisition
847 Monroe, Suite 216
Memphis, TN 38163