Asset Management

Once a deal has been booked, you can manage the assets from Asset Management. You can search, manage, and make updates to your assets from Asset management without changing the status of a deal.

Asset Management features a flexible engine for managing asset-level and allocation-level participants, including:

• Asset Owner

• Asset User

• ShipTo (asset location)

• Cost Centers

• Projects

• Additional participants configured for your business process

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Use Asset Management to ensure that all reports reflect the current status of assets and the allocation of their associated costs.

The Asset Management workspace includes four tiles:

• Criteria

• Details

• Update

• Settings

Asset Management operates at the asset level of detail instead of the line item level of details used for RFPs, Schedules, and other documents.

• Line item level details permit quantities greater than one for each line, simplifying the visibility and review of what assets are being leased.

• Asset-level details identify exactly one asset per line, thus reflecting the level of granularity at which equipment, leased real estate, and associated costs can be moved and transferred among cost centers.

Criteria Tile

Use the Criteria tile to search for specific assets using a combination of criteria.

A search can be performed using any of the fields shown individually or by combining search fields. The available options are:

Once you have specified your criteria, click Search. LeaseAccelerator displays the results on the Details tile based on the inputs.

Examples:

• Suppose you wish to search for assets on a specific schedule. To do so, enter the schedule number in the Number field. The search results will only show the assets related to that schedule.

• Similarly, if you select only a cost center from the options in the drop-down, the search retrieves all assets allocated to that cost center across your entire portfolio.

• Selecting a Lease Genre and a Product Category can limit your results further.

Details Tile

Once you have selected the criteria by which you want to search assets, LeaseAccelerator takes you to the Details tile, which shows the assets that meet the criteria. From this tile, you can select the asset(s) you want to work with. A summary table shows the aggregate value and cost allocation of the selected assets.

Select a value from the Group Assets By drop-down to indicate how you want assets grouped on this tile. The options available vary by client but will include:

• Schedule #

• Cost Center

• ShipTo

• Asset Owner

• GL Code (Coding Convention)

• Product Category

Grouping assets is useful when you need to make bulk updates to asset information, such as cost center changes necessitated by corporate reorganization or the bulk reassignment of assets from one Asset Owner to another.

Example: If you have a corporate reorganization that includes cost center changes based on physical location, enter the cost center that is relocating on the Criteria tile. You can then group by ShipTo on the Details tile to find all assets that meet the criteria.

You can also make updates to a single asset. If you need to reassign a single asset, the easiest way to do this is to search for the asset by serial number and then make the change.

When you group assets by cost center, note that an asterisk (*) appears next to any asset with a split allocation to show that the asset is allocated to more than one cost center.

Once on the Details tile, you can select the box next to a particular asset and do any of the following:

• Export a spreadsheet of the asset details (Asset Bundle)

• Send an email to a designated contact to initiate compliance for that asset

• Change operational attributes

• Change asset attributes

• Change allocation attributes

Each of these has its own section, which can be expanded by clicking the carrot icon next to the section title.

Exporting to a Report

You can export asset details to an Excel spreadsheet by clicking Export. This creates an Asset Bundle for the selected assets.

Cost allocations can be split for an individual asset. That is, you can allocate an asset's rental and other lease-related expenses by splitting them among multiple cost centers and GL Codes. Each allocation for an asset is shown as a separate line on the Asset Bundle.

Initiating Compliance

You can initiate compliance actions manually within the Details tile by setting up emails to go out to either Asset Owners or Asset Users requesting specific action to be taken on attesting to things like asset location or asset attributes such as serial numbers or cost centers. You can even push an email to request EOT Intentions be declared. These attestations would only be for the selected assets in the asset tree.

To initiate a compliance action, follow these steps:

If you select to email the Asset User and there are multiple Asset Users, LeaseAccelerator will:

• Send multiple emails (one to each Asset User)

• Give each user a To-Do for the action

Once you save, a To-Do will be enqueued for the responsible party and will appear on the Next Steps tile of Deal History.

Click Attest Location, and you will be asked to attest asset information. To complete the attestation, check the box at the bottom of the workspace and click Save.

Operational Attributes

This section shows EOT eligibility, available for use date, depreciation start date, and other operationally-specific fields. Additional operational attributes include Serial #, Reference Number, Manufacturer, Description, etc. Changes to fields in this section are for the life of the lease, starting from inception. You can change information for a single selected asset or for a group of assets.

Note: If you select multiple assets, information will not appear for certain fields. For example, the serial number field will be empty if the selected assets include multiple assets with different serial numbers. The only fields that will contain values are those for which the selected assets have the same value. If you make changes to a field that is blank, the change will update for all selected assets; therefore, use caution when updating fields in this workspace.

When you've completed your updates to this section, you must click Save in this section in order for those updates to be saved.

Date Selector

Changing of Asset and Allocation attributes are dependent on the Date Selector, which is located above the accordion sections for Asset and Allocation Level Attributes. Any changes to attributes within these two sections will respect the date entered. By default, this date is blank, so you must populate it before saving. However, you must choose a date that is in an open period. You will receive an error if you select a date that is in a closed period. There is also a message regarding how the system handles backdated changes to participants.

Asset Level Attributes

Asset attribute examples are Ship To, Vendor, Asset Owner, Asset User, and others, as configured. The separate Save button in this segment uses the date specified in the date selector once clicked.

Allocation Level Attributes

In the Asset Allocation section, you can determine what percentage to allocate to each attribute.

Allocation level attributes include:

• Cost Centers

• GL Code (Coding Conventions)

• Project User-Defined Participants (These may be configured during implementation and will not appear on management reports. A Customization Change Order may be requested to make User-Defined Participants available for management reporting. Please contact your LeaseAccelerator Client Success Manager. Fees may apply.)

Asset Allocation will only appear when asset(s) are selected from the Asset Tree.

Follow the steps below to edit/add asset allocations:

1. To edit an existing line item, click the edit icon.

2. Populate the necessary fields.

3. Click Save in the Allocation Level Attributes section.

4. To add a line item, click the plus sign.

5. Populate the required fields and click Add.

6. Click Save in the Allocation Level Attributes section.

7. To delete a line item, click the trash can icon.

8. Click Save in the Allocation Level Attributes section.

Remember, Total Percentage must equal 100 to save any updates. You will receive a warning message if your total doesn't equal 100.

Update Tile

Use the Update tile to perform bulk updating of assets. The bulk update feature lets you browse updated files to record all changes in LeaseAccelerator.

You may Export an Asset Bundle from the Details tile and use that report as your file for updating, or you may use an Asset Management Update template and populate it with the necessary information and use it as your file. The AMU template may be found in Ask Alex or the Success Center.

To browse in an updated file, Choose File containing the asset updates, then click Validate. LeaseAccelerator will validate the information on the import file and return errors and warnings as appropriate. When all errors have been taken care of, and only warnings remain, click Import to save the updated information.

For more information on updating assets using a bulk import file, please see LA's Guide to Updating Assets.

Settings Tile

In Asset Management, you can enter or update settings that manage the compliance alerts and automatic email requests sent to the appropriate stakeholders to manage asset information's upkeep. This enables proactive compliance that samples the database and sends emails and To-Dos to the appropriate compliance parties, where the sampling is heavily skewed toward assets with a high risk of data errors. For example, depot locations are frequently pinged to confirm asset location, given that assets move quickly into and out of depots.

Use the Settings tile to set up automatic compliance assurance criteria by which users, designated by role, are prompted to update and maintain asset information using statistical sampling techniques rather than specific compliant action requests.

Example: You can request an asset owner to verify account coding periodically or an asset user to verify the location of selected assets periodically.

Use the drop-down lists to select:

• Who should receive the email

• How often it should occur

• What the workload should be limited

Automatic compliance is disabled by default, regardless of the specified settings. To have automatic compliance enabled for your company, please send a request to your Implementation Manager or contact support@leaseaccelerator.com.