FMW - Adding a Planned Asset

Business Planning - Adding a Planned Asset

Note: We normally depreciate/amortize projects that are considered New Functionality that will cost more than 5,000.00

STEP 1: Click on Model Administration

Note: You can go to Model Admin directly from the landing page after logging in or from Actuals and Projections

STEP 2: Make sure you are in Elements (it should default here, but if not click Elements on the Treeview)

STEP 3: Click Items List next to IT-Asset

STEP 4: Click + to add a line

Note: The Numbering convention for the IT-Asset is: Year it is planned for + app phase code + numerical 01, 02 depending on how many assets you are adding for that application.

Note: The Naming convention for the description always starts with 'year then description ('24 CMiC Maint.)

STEP 5: Add the Asset #

STEP 6: Add the Item Description

STEP 7: Click Related Elements

STEP 8: Choose Calc Override

STEP 9: Choose Depr/Amort

Note: Calc Override: The choices here are deciding when you are going to start depreciating/amortizing as opposed to when you are writing the check. 0 Calc Same Quarter = Start depr/amort the same month that we write the check 1 Calc 1 Quarter Out – Start depr/amort one month from the date we write the check 2 Calc 2 Quarters Out = Start depr/amort 2 months from the date we write the check, Etc.

Note: Depr/Amort: There are 3 choices (Amortization, Depreciation, Subscription) Things like contracts that are signed each year are subscriptions (Docusign, Rental Result) Then you are just choosing the number of years to spread out the asset (the default is 3 years/36 months)
STEP 10: Click Save

STEP 11: Click to Actuals and Projections

STEP 12: Double Click IT Business Plan

STEP 13: Choose the Quarter that you are working on (by Phase)

STEP 14: Choose the correct year

STEP 15: Find your Phase Code/Application

STEP 16: Click + to add Planned Asset

STEP 17: Click the search icon to find your planned asset and click Select

STEP 18: Choose your Business Unit (CMiC happens to be 80173)

STEP 19: Choose your Categories (You can choose one and then click Ctrl and choose any others)

STEP 20: Click Ok

STEP 21: Add in the total amount of the Planned Asset when you expect to pay the invoice or close the holding account

STEP 22: Add in the Quarterly amounts over the 3 year span that you expect to depreciate/amortize

STEP 23: Click Save