Can you improve multiple CIP Asset records with one Work File record
- Knowledge Assistant
Cannot process additional Purchases to create CIP work file improvement records for each CIP that needs to increase in value; ideally would like to improve all CIP assets affected by the single CIP work file improvement record created.
Capital Assets
Multiple CIP assets need to increase in value, wondering if this is possible with one CIP record.
Each CIP work file improvement record can only be used to improve/increase the value of one CIP asset.
To increase value for other CIP assets tied to the transaction:
Navigate to Adjustments and Retirements (Financials > Capital Assets > Capital Asset Processing > Adjustments and Retirements)
Search for the additional Asset(s) which need to increase in value.
Click Transactions on the ribbon.
Select the Improve Asset Values option.
Select Current Record Only, unless the active set contains multiple records which all need to be updated in value. In this case, select All Records.
In the resulting screen, click Update on the ribbon.
Under the Change column, update all relevant fields to reflect the value added by the transaction. Note: do not enter what the final asset value should be after the improvement, this column is strictly for the value added.
Enter a Reason code in the corresponding field and verify Effective Date and Year/Period are correct.
Click Accept.
Click Output/Post on the ribbon.
Select Proof options.
Click Yes when prompted to Post Transactions.
Please reach out to Enterprise ERP Financials Support for additional information.