Updating Assets
Once lease assets have been entered into LeaseAccelerator with their associated schedules, users can use the user interface (UI) or one of the import options to edit and update asset details.
Assets are comprised of operational level, asset level attributes, and allocation level attributes.
Operational level attributes are typically considered to be related to physical properties of the asset.
Asset level attributes are typically considered to be related to owners or users of the asset or location.
Allocation level attributes are typically considered to be related to accounting.
The UI may be used to update most asset attributes.
Download a PDF version of the guide.
Operational level attributes:
- Asset Tag
- Available Date
- Comments
- Default Disposition at EOT
- Depreciation Start Date
- Description
- Fully Qualified Name
- Host Name
- IP Address
- MAC Address
- Manufacturer
- Product
- Reference Number
- Serial Number
- Service State
Asset level attributes:
- Asset Owner
- Asset User
- Property Tax Authority
- Ship To Address
- Vendor
Allocation level attributes:
- Cost Center
- GL Code (Coding Convention)
- Project
- Any user-defined allocation attribute, i.e., Department, Site, etc.
For updates to more than one asset at one time, users can update or add asset information using one of three asset import options: Asset Bundle Import, Asset Management Update Import, or Asset Detail Import.
Asset Bundle Import: Update and add to asset information
Asset Management Update Import: Update and add to asset information
Asset Detail Import: Replace existing asset information
The table below compares the attributes that can be updated or added by import. Use this information to help determine the best import option to use.
Attribute Name* |
Asset Bundle |
Asset Management Update |
Asset Detail |
|---|---|---|---|
Allocation Percent |
X |
X |
|
|
Apply Changes Effective *(ALLOCATION ONLY) * Asset Change Effective Date++ |
X |
X |
|
Asset Owner |
X |
X |
X |
Asset Tag |
X |
X |
X |
Asset Type |
X |
||
Asset User |
X |
X |
X |
Available Date |
X |
X |
|
|
Common Name (Host Name in the UI) |
X |
X |
X |
Cost Center |
X |
X |
X |
Comments |
X |
X |
|
Default Disposition at EOT** |
X |
X |
X |
Depreciation Start Date |
X |
X |
|
Description |
X |
X |
|
Facility Code/Ship To Key |
X |
||
Fully Qualified Name (FQN) |
X |
X |
X |
GL Code |
X |
X |
X |
IP Address |
X |
X |
X |
MAC Address |
X |
X |
X |
Manufacturer |
X |
X |
|
Product # |
X |
X |
|
Project |
X |
X |
|
Property Tax Authority |
X |
X |
|
Reference Number |
X |
X |
X |
Serial Number |
X |
X |
X |
Service State |
X |
X |
X |
ShipTo Address |
X |
X |
|
Unit Price |
X |
||
Unit Rent |
X |
||
Vendor |
X |
X |
*Only some Custom Participants are importable using the Asset Bundle Import or Asset Management Update Import.
**This attribute can be manually added to the Asset Bundle.
++Review sections below regarding date import requirements and guidelines.
Asset Bundle Import
The Asset Bundle Import is used to update and add to asset information only. Exporting and Importing the Asset Bundle provides a quick method for updating deal specific asset attributes without the need to create a new import file or lookup Asset IDs.
When updating assets using an Asset Bundle Import, all the assets must have a common attribute. Typically, all the assets have the same schedule number (i.e., they are on the same deal). Assets can also have one of the following other attributes in common:
- Asset Owner
- Asset User
- Cost Center
- GL Code
- Product Category
- Project
- Property Tax Authority
- Reference Number (aka Ref. # on the export of the Asset Bundle)
- ShipTo Address
- Vendor
Importing the Asset Bundle involves the following steps:
Export assets with at least one common attribute to an Asset Bundle file.
Note: Only the 1500 assets that are visible in the UI will be exported in any Asset Bundle file.
Update the necessary field(s) in the Asset Bundle file.
Import the updated Asset Bundle file.
When an Asset Bundle file is imported, LeaseAccelerator matches each asset in the import file with what is already in the system. Once matched, LeaseAccelerator then checks if one of the attributes supported by an Asset Bundle Import is different and, if so, updates the attribute value to the value in the import file (i.e., the system changes the value of the field or enters a value for the field if it was previously blank).
LeaseAccelerator will not change any other attributes other than the ones supported for an Asset Bundle Import, even if those attributes have been updated in the Asset Bundle Import file. LeaseAccelerator will also not add additional assets or delete any assets, regardless of the contents of the Asset Bundle Import file.
The Asset Bundle export contains a column labeled ‘Apply Changes Effective*(ALLOCATION ONLY)*’. This column can be used to specify a date of change for allocation-level attribute updates and some asset-level attributes if they are part of the ledger string when importing the Asset Bundle after changes have been made to the file.
When using an Asset Bundle Report, the recommended best practice is to use the first day of the period in which a change occurs, except if MEC is in place, then use the first day of the first open period for the Apply Changes Effective date. In other words, entering an effective date for all changes in all scenarios, regardless of whether there are closed or open periods, is advised. It is not advised to leave this field blank. Asset and Allocation level attributes will change on the date specified above. If a future date is used, the UI will display the new value immediately, and the reports will reflect the date of the update.
Operational attributes, e.g., serial #, will change for the life of the lease regardless of the effective date specified.
Scenario |
Date of Change Not Specified |
Date of Change Specified |
|---|---|---|
Closed Periods Exist and the Participant is Part of the GL String |
Effective Date of Change is the date of import, also known as System Date |
Effective Date of Change is the date provided in the file |
Closed Periods Exist and the Participant is NOT Part of the GL String |
Effective Date of Change is the first day of the first open period |
|
Closed Periods Do Not Exist and the Participant is Part of the GL String |
Effective Date of Change is the date of import, also known as System Date |
|
Closed Periods Do Not Exist and the Participant is NOT Part of the GL String |
Effective Date of Change is the lease start date |
To Export Assets to an Asset Bundle File
Step |
Action |
|---|---|
1 |
Select Assets and Deal # and enter search terms in the Search bar. Use a * with an additional search criterion (wildcard) to find similarly numbered deals but use caution because the number of deals in the system impacts how long the search will take. |
2 |
In the Asset Management workspace, select a different option under Group Assets By to locate assets by an attribute other than Schedule Number. |
3 |
Select the assets to include in the Asset Bundle and then click Export.
|
To Update the Asset Bundle File
Step |
Action |
|---|---|
1 |
Open the downloaded file in Microsoft Excel or another program that opens .xlsx files. |
2 |
Update the attributes supported for the Asset Bundle Import. Do not update the Asset ID. |
3 |
Save the file. |
To Import an Asset Bundle File
Step |
Action |
|---|---|
1 |
In the Asset Management workspace, select the Update tile. |
2 |
Click Choose File and select the updated Asset Bundle file. |
3 |
Click Validate. |
4 |
Correct any errors, if necessary. |
5 |
Click Import. |
6 |
To view the changes in the UI when the import is complete, click the Criteria tile in the Asset Management workspace and then click Search to refresh the Details tile. |
Use Case 1
The required base level asset details and quantities have been captured via Enter Schedule in the UI, and one or more of the attributes available on this import need to be added, e.g., Enter Schedule does not allow the user to add serial numbers prior to booking and all other necessary details are populated and correct.
Use Case 2
The required asset details and quantities have been captured via PIW import and one or more of the attributes available on this import need to be updated, e.g., the Asset Owner changed for some of the assets on the lease, exporting the Asset Bundle can make it easier to identify the assets with the change using available fields in the report.
Asset Management Update Import
The Asset Management Update Import is used to update and add to asset information only. Using the Asset Management Update Import allows for changes to a large number of assets at one time, the 5,000-row limit still applies to this import as with all imports.
Note: When changing Allocation attributes, you do not need to include all allocation attributes in the Asset Management Update. You may leave an allocation participant field blank, as current functionality only replaces allocation attributes specified. You cannot delete or ‘blank out’ allocation fields with this file. It is necessary to specify all allocation attributes when updating assets that have the same percentage of asset splits, e.g., 50/50, 25/25/25/25 as in example 2 below.
When updating assets with a split allocation percentage you may specify the allocation percentage that you wish to change if you only need to apply a change to that split.
Example 1: If you have an asset with a 70/30 split and you only need to update the Cost Center on the 70% then your Asset Management Update file would look like the below screenshot.
Example 2: If you have an asset with a 50/50 split, or other scenarios where all the allocation values are the same, e.g., 25/25/25/25, then your import file should be populated as shown below. It is required that you provide a row for each percentage value for an asset with split allocations that have the same Allocation Percentage.
You must uniquely identify an asset for the update to be successful if you have not done so you will receive a validation error.
You can still perform percent allocation replacements by following the steps on page 12 of this guide.
With an Asset Management Update Import, users can add or update the same attributes as an Asset Bundle Import, as well as these eight additional attributes:
- Available Date
- Depreciation Start Date
- Description
- Manufacturer
- Product #
- Project
- Property Tax Authority
- ShipTo Address
- Vendor
The assets in the Asset Management Update Import do not need to have any attributes in common.
The Asset Management Update Import involves the following steps:
Step |
Action |
|---|---|
1 |
Locate Asset ID numbers for each asset to be updated. |
2 |
Complete an Asset Management Update import file. |
3 |
Import the Asset Management Update import file. |
When an Asset Management Update Import file is imported, LeaseAccelerator matches each asset in the import file with what is already in the system. Once matched, LeaseAccelerator then checks if one of the attributes supported by an Asset Management Update Import is different and if so, updates the attribute value to the value in the import file (i.e., the system changes the value of the field or enters a value for the field if it was previously blank).
LeaseAccelerator will not change any other attributes other than the ones supported for an Asset Management Update Import even if those attributes have been updated in the Asset Management Update Import file. LeaseAccelerator will also not add additional assets or delete any assets regardless of the contents of the Asset Management Update Import file.
For each asset to be updated, the Asset ID must be included in the Asset Management Update Import file. To locate Asset IDs, do one of the following:
Expand the asset tree in the UI in Asset Management by clicking on the plus sign to the left of the asset description; the Asset ID is the number shown at the end of the description after “Asset #”
Generate an Asset Bundle or BU Asset Report
Run a BYOR for Portfolio Report with Asset ID as an output field
The Asset Management Update contains a column labeled ‘Asset Change Effective Date’. This column can be used to specify a date of change for allocation-level attribute updates, and for some asset-level attributes if they are part of the ledger string, when importing the Asset Management Update. When using an Asset Management Update, the recommended best practice is to use the first day of the period in which a change occurs, except if MEC is in place, then use the first day of the first open period for the Apply Changes Effective date. In other words, entering an effective date for all changes in all scenarios, regardless of whether there are closed or open periods, is advised. It is not advised to leave this field blank. Asset and Allocation level attributes will change on the date specified above. If a future date is used, the UI will display the new value immediately, and the reports will reflect the date of the update.
Operational attributes, e.g., serial #, will change for the life of the lease regardless of the effective date specified.
Scenario |
Date of Change Not Specified |
Date of Change Specified |
|---|---|---|
Closed Periods Exist and the Participant is Part of the GL String |
Effective Date of Change is the date of import, also known as System Date |
Effective Date of Change is the date provided in the file |
Closed Periods Exist and the Participant is Not Part of the GL String |
Effective Date of Change is the first day of the first open period |
|
Closed Periods Do Not Exist and the Participant is Part of the GL String |
Effective Date of Change is the date of import, also known as System Date |
|
Closed Periods Do Not Exist and the Participant is Not Part of the GL String |
Effective Date of Change is the lease start date |
Split allocation percentages can be imported with the Asset Management Update. Two columns that must be used to perform a split allocation import – ‘Allocation Percent’ and ‘External Id’ or ‘Asset Id’. The External Id is a user defined unique identifier and is required for an Asset Detail import if you wish to split asset allocation.
-
Each asset must have a unique External Id.
Example: Asset 1 = EXID1, Asset 2 = EXID2
Two or more rows with the same External Id must have all other fields the same except Cost Center, GL Code, Project, and Allocation Percent.
You must use External Id to use Allocation Percent on the Asset Detail import.
The sum of Allocation Percent must equal 100 per External Id.
When an External Id is entered for any line item there must be an External Id entered for all line items.
To Complete an Asset Management Update Import File
Step |
Action |
|---|---|
1 |
Download an Asset Management Update (AMU) template from Ask Alex menu or the Success Center. |
2 |
Users may also create their own template as long as it is a Microsoft Excel template with a tab named “Asset Report” and contains the required columns. |
To Import the Asset Management Update Import File
Step |
Action |
|---|---|
1 |
In the Asset Management workspace, select the Update tile. |
2 |
Click Choose File and select the updated Asset Management Update file. |
3 |
Click Validate. |
4 |
Correct any errors, if necessary. |
5 |
Click Import. |
6 |
To view the changes in the UI when the import is complete, click the Criteria tile in the Asset Management workspace and then click Search to refresh the Details tile. |
Use Case 1
The required base level asset details and quantities have been captured via Enter Schedule in the UI, and one or more of the attributes available on this import need to be added, e.g., there are over 1,500 assets to be updated and since Enter Schedule does not allow the user to add the Service State prior to booking this import can be used to add Service State information for up to 5,000 assets at once.
Use Case 2
The required asset details and quantities have been captured via PIW import and one or more of the attributes available on this import need to be updated, e.g., the Cost Center needs to be changed for more than 1,500 assets on the lease, this import can be used to add Cost Centers for up to 5,000 assets at once.
Asset Detail Import
The Asset Detail Import is used to replace existing asset information for one or more schedules with new asset information. Since there are specific fields that can only be updated using an Asset Detail Import, this should be reserved for those specific attribute changes. It is best practice to use the aforementioned imports to change or update attributes listed in the above table and this import to supersede and make corrections to assets that are not available in any other import.
With an Asset Detail Import, users can update all attributes related to an asset except the following:
Comments
The following attributes can only be updated via import using the Asset Detail Import:
Product Category
Any financial information, including Unit Price
An Asset Detail Import is the only way to update unit price; they cannot be updated with another import or in the UI.
Up to 5,000 assets may be included in each Asset Detail Import. The assets in the Asset Detail Import do not need to have any attributes in common.
The Asset Detail Import involves the following steps:
Step |
Action |
|---|---|
1 |
Update the Details tab of a Portfolio Intake Workbook (PIW). |
2 |
Validate the Asset Detail Import file (PIW), in the UI, in the Bulk Import workspace, using the Asset tile. |
3 |
Review all import validation messages thoroughly and carefully, to be sure that you understand the impact of the import. |
4 |
Import the Asset Detail Import file (PIW). |
The Asset Detail Import replaces all asset information previously captured in LeaseAccelerator with the information on the Details tab in the PIW for all schedules in the PIW. Essentially, the data is re-imported and not simply adjusted to include new or changed asset information.
Caution: By doing an Asset Detail Import, you are replacing all asset detail with the new information populated on the Details tab for the schedule numbers on that tab. Any information that was in the system for those schedules but is not included on the Details tab of the PIW will be lost. Asset Detail imports can result in unexpected data changes and data loss. Be sure to completely understand the implications of this type of import before doing it. An Asset Detail Import will rebook the lease and a catch-up entry will be recorded to reflect accounting changes in the current open period when Month-End- Close is in place. Rebooking removes all Mid-Term/End-of-Term events if any exist for the deal. Best practice is to capture these events if they will need to be re-recorded after the import.
All asset details associated with the schedules in the PIW must be listed on the Details tab of the Portfolio Intake Workbook (PIW). If an asset is not listed, it will be deleted from LeaseAccelerator. If different information is in the PIW than what is currently in the system, LeaseAccelerator will overwrite all existing asset information, including cost information.
Split allocation percentages can be imported using the Details tab of the PIW. There are two columns that must be used to perform a split allocation import – ‘Allocation Percent’ and ‘External Id’. The External Id is a user defined unique identifier and is required for an Asset Detail import if you wish to split asset allocation.
-
Each asset must have a unique External Id.
Example: Asset 1 = EXID1, Asset 2 = EXID2
Two or more rows with the same External Id must have all other fields the same except Cost Center, GL Code, Project, and Allocation Percent.
You must use External Id to use Allocation Percent on the Asset Detail import.
The sum of Allocation Percent must equal 100 per External Id.
When an External Id is entered for any line item there must be an External Id entered for all line items.
To Update the Details Tab in the PIW
Step |
Action |
|---|---|
1 |
Open a PIW. Be sure to use the version of the PIW that is applicable for the latest LeaseAccelerator release. |
2 |
Update the assets on the Details tab in the PIW. Be sure that each asset for the schedule is included and that all details are accurate. |
For additional information about the Details tab of the PIW (and the PIW in general), see the Client Implementation Guide (CIG).
To Validate an Asset Detail Import in the UI
Step |
Action |
|---|---|
1 |
Navigate to the Bulk Import workspace from the Left NavBar. |
2 |
Select the Asset Import tile.
|
3 |
Click Choose File and select the updated PIW. |
4 |
Click Validate. |
To Review Validation Messages
Step |
Action |
|---|---|
1 |
When LeaseAccelerator validates the import file, it will display any applicable messages. |
2 |
Review all yellow warning and red error messages. The file may be imported with yellow warning messages, but it cannot be imported with red error messages. |
3 |
If the cost related to assets on the import file is different than the current cost of those assets in the system, the user will receive a red warning message. This is the only circumstance in which an import may be completed with red warning messages. Please review the message and proceed with the import if the change to the cost is intended. |
To Import the PIW
Step |
Action |
|---|---|
1 |
Click Import on the Asset Import tile of the Bulk Import workspace after validating your import file. |
Use Case 1
A server lease with multiple servers and components was entered via Enter Schedule in the UI with a single line for the quantity of servers and without details, due to the large quantity of associated assets for each server. The Asset Detail Import would be used to capture all of the asset information that would be included if the lease had been imported via PIW.
Use Case 2
A lease was entered either via the UI or by PIW with incorrect information related to asset cost or rent by mistake. The only way to correct this is to perform an Asset Detail Import with the correct information entered.
Use Case 3
A lease was entered either via the UI or by PIW with correct information related to the Ship To Address, however several or all assets on the lease have moved to different Ship To Addresses since inception. If there are closed periods, then the only way to correct this is to perform an Asset Detail Import with the correct information entered. This will rebook the deal (see note on page 12). If, however, you want to capture a change in Ship To location mid-lease, and therefore prospectively, you can update it in UI or with an Asset Management Update being sure to use the Effective Date field, in either case.
Updating Assets via the UI
Once lease assets have been entered into LeaseAccelerator with their associated schedules, users can use the user interface (UI) to edit and update most asset details.
To access Asset Management:
When you are starting your search in a deal you can get to Asset Management two ways:
Once in the context of a deal, click Asset Management from the Left NavBar, or
Click the Record Event cascading menu and then select the Change asset allocation option which will take you to Asset Management.
When you are not in a deal you can get to Asset Management one way:
In the Top Search Bar, select Assets from the Search for drop-down and select either By Deal # or Serial #. Then enter the appropriate search terms in the Search field. Clicking Search takes you to Asset Management.
Users can select multiple assets in the UI to update asset information if all the assets have the same attributes. If they differ by one attribute, the updates must be done individually (i.e., one at a time).
Users may select an Effective Date of change before saving for Asset and Allocation attributes. If not explicitly entered the system will default to today’s date.
Users must select one asset at a time when updating unique attributes, like Serial Number in the UI.