Costpoint Online Help

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Cost Info Tab

Use this tab to enter cost data for depreciable and non-depreciable company-owned property, government property, and/or leased property.

There are no system-required fields on this tab. Cost data are not required to save an Asset Master record because you may be tracking property in which you have no cost. Cost data must exist, however, to successfully compute depreciation.

None of the fields in this subtask have corresponding Asset Template fields in which to set up default data.

Since no data fields in this tab require system validation, you do not need to initialize any setup data prior to data entry.

You should enter data on this and other applicable Asset Master tabs/subtasks before you calculate depreciation or add inventory, maintenance, or transfer records. Although you can change information any time, use caution in the timing of your edits, which may impact the calculation of depreciation as well as the types of records included in system reports. If, for example, you edit one of the fields on this tab that changes the total cost, you may experience unexpected results after depreciation is calculated.

You cannot edit the fields on this tab (for the purpose of preserving the audit trail) if you have posted a disposal or entered a manual disposal. When you first manually add a historical record with a Disposal status, all fields in the Asset Master record can be edited as needed before you save the record for the first time. If the saved Disposal record is accessed again, the drop-down lists in the Depreciation Status and Depreciation Based On group boxes on the Desc Info tab are disabled. In addition,  the system does not permit edits to pertinent fields on the Cost Info, Acct Info, G/L Book Info tabs and in the Other Books Info subtask (if data previously existed).

For established Asset Master records only:

You can enter, edit, and view the data from this tab in an alternate screen called, Manage Asset Cost Information directly from the Asset Master Records menu. An alternate access route to Asset Master subtask data gives more flexibility when security options are set up for users with different access needs.

  • If you have screen rights to access the Asset Master Records menu, the Manage Asset Master Information screen and all its tabs and subtasks are automatically accessible to you.
  • If you do not have screen rights to access the Asset Master Records menu, the system administrator can alternately grant or deny access rights using the direct menu option on a screen-by-screen basis, which generally correlates with the data contained in each tab or subtask. In this manner, each user can access only the data from those screens in which specific access has been granted.

Data entry functionality and data rules on the alternate screen are identical to their corresponding fields on the Manage Asset Master Information screen, regardless of which entry screen methodology you establish for each user.

Because Asset Master data may have originated from Costpoint Purchasing, Receiving, and/or Accounts Payable using the autocreation function, it is very important to edit this data with caution. Although you should take care to preserve the integrity of the data with respect to its source, you can always edit data in the Asset Master record, regardless of the mode of data entry (manually or via autocreation).

Units

Use the fields in this group box to enter, edit, or view quantity and unit of measure data for this record.

Field Description
Quantity

For a new asset record, enter a quantity value in this field. This field serves only as a memo field and is not used by the system for any calculations. There is no corresponding Asset Template field.

For an existing asset record, this field displays the most current data that you added or edited in the asset record.

You can edit data that displays in this field now, you can add new data to a blank field, or you can delete the existing data in this field, as desired.

U/M

For a new asset record, enter the unit of measure data in this field. This field serves only as a memo field and is not used by the system for any calculations. There is no corresponding Asset Template field.

For an existing asset record, this field displays the most current data that you added or edited in the asset record.

You can edit data that displays in this field now, you can add new data to a blank field, or you can delete the existing data in this field, as desired.

Cost

Use the fields in this group box to enter, edit, or view cost data for this record.

Note: If you change any cost element on this tab (which will automatically change the total cost for the G/L Book), the system will automatically change the total cost of any other book utilized in the Other Books Info subtask to match that change if these values matched prior to the change. If these values did not match prior to the change, the system will not change the total cost for that book in the Other Books Info subtask.
Warning: Because asset cost is a critical factor in the computation of depreciation, use caution if you change any cost component data once the system has posted depreciation for the asset.

The system automatically adds the values entered in the fields on this tab to the value(s) entered in any other cost fields, and displays the results in the non-editable Total Cost field.

Field Description
Unit Price

For a new asset record, enter the unit price in this field. There is no corresponding Asset Template field.

For an existing asset record, this field displays the most current data that you added or edited in the asset record.

You can edit data that displays in this field now, you can add new data to a blank field, or you can delete the existing data in this field, as desired.

Sales Tax

For a new asset record, enter the sales tax in this optional field, as applicable. There is no corresponding Asset Template field.

For an existing asset record, this field displays the most current data that you added or edited in the asset record.

You can edit data that displays in this field now, you can add new data to a blank field, or you can delete the existing data in this field, as desired.

Shipping/Handling

For a new asset record, enter shipping and/or handling costs in this field. There is no corresponding Asset Template field.

For an existing asset record, this field displays the most current data that you added or edited in the asset record.

You can edit data that displays in this field now, you can add new data to a blank field, or you can delete the existing data in this field, as desired.

Transportation

For a new asset record, enter transportation costs in this field. There is no corresponding Asset Template field.

For an existing asset record, this field displays the most current data that you added or edited in the asset record.

You can edit data that displays in this field now, you can add new data to a blank field, or you can delete the existing data in this field, as desired.

Other Cost

For a new asset record, enter other costs in this field. There is no corresponding Asset Template field.

For an existing asset record, this field displays the most current data that you added or edited in the asset record.

You can edit data that displays in this field now, you can add new data to a blank field, or you can delete the existing data in this field, as desired.

Total Cost

This field is non-editable. The system automatically adds the values from each of the cost fields and displays the total in this field. If this field does not display the correct value, you can edit the applicable cost fields (Unit Price, Sales Tax, Shipping/Handling, Transportation, and/or Other Cost), as appropriate.

You must make all edits to cost for the G/L Book on this tab. The value from this field automatically displays in the Total Cost field of the G/L Book Info tab, where it cannot be edited.

If you have set up one or more optional books (2-10) on the Configure Fixed Assets Settings screen, the following system mechanisms are automatically in place:

  • When you first add and save an Asset Master record, the Total Cost value from this tab automatically displays as the default total cost for all optional books in the Other Books Info subtask.
  • You can assign a different cost basis other than the G/L Book default cost, as needed, for each optional book (for purposes of stepped-up depreciation basis, and so on), in the Total Cost field in the Other Books Info subtask.
  • If you change the Total Cost value for the G/L Book in this tab after an Asset Master record has been saved, the system automatically updates the cost for each optional book when you again save the Asset Master record if the other book’s total cost matched the G/L Book’s total cost prior to the save. You can then assign a different cost basis other than the G/L Book default cost, as needed, for each optional book in the Total Cost field in the Other Books Info subtask.