Setting up an Approval Process

The default approval process for fixed assets is Asset Approval. You can create your own approval processes or modify the default one. You must create an approval process that is appropriate for your organization. To create a new approval process or change an existing one, click Create | Workflow & Approvals | Approval Processes. For further information about setting up workflow and approval processes, see the Salesforce Help.

Note:

If you create a different approval process or change the default one, you must use the status names described in this section.

The actions that you can carry out on an asset are determined by its status. Here is a description of each status.

Approval Status	Description
New	This status is set when you create a new asset. At this point, no information has been posted to the financial accounting system, the asset is not yet approved, and depreciation has not yet been calculated.
Recalled	Indicates that the asset was submitted for approval, but was recalled so that changes can be made. At this point no information has been posted to the financial accounting system, the asset is not yet approved, and depreciation has not yet been calculated.
Rejected	Indicates that the asset was submitted for approval, but was rejected by the approver. At this point no information has been posted to the financial accounting system, the asset is not yet approved and depreciation has not yet been calculated.
Approved	Indicates that the asset was submitted for approval and it was approved. At this point the asset has been posted to Accounting.
Submitted	Indicates that the asset was submitted for approval, is locked and is waiting for the approver to approve or reject it. Depending on the approval process your administrator has chosen, you can recall the asset from the approval process to make further changes to it. When you do this, the status of the asset becomes Recalled. At this point, no information has been posted to the financial accounting system, the asset is not yet approved and depreciation has not yet been calculated.
Active	Indicates that the asset is approved. At this point, depreciation schedules have been calculated and are ready to send to Accounting. Note: Once one of the depreciation schedules on the accounting book associated with the asset has the status Exported, you cannot change the depreciation method or historic information for that asset. In addition, you cannot regenerate depreciation schedules for that asset.
Fully Depreciated	Indicates that the asset is fully depreciated and all of its depreciation journals have been calculated and exported to Accounting. At this point, you can no longer change the depreciation method or historic information for that asset. In addition, you cannot regenerate depreciation schedules for that asset.
Disposed	Indicates that the asset has been disposed of for a particular reason such as it is lost, destroyed, sold or entered by mistake. Future depreciation schedule messages are no longer sent to Accounting once the asset has been disposed of. In addition, the asset value and depreciation of the asset is cleared from the accounting system and an audit trail is retained.
Canceled	Indicates that the asset has been canceled. Depreciation schedules are no longer sent to Accounting.

The table that follows shows the actions that you can carry out at each fixed asset status.

	Status
Action	New	Submitted	Recalled	Rejected	Approved	Active	Active and Schedule Pending or Exported	Canceled Disposed  Fully Depreciated
Attach an Accounting Book	Yes	Yes	Yes	Yes	Yes	—	—	—
Attach a Tax Book	Yes	Yes	Yes	Yes	Yes	Yes	Yes	—
Attach a Custom Book	Yes	Yes	Yes	Yes	Yes	Yes	Yes	—
Cancel the Asset	Not Recommended
Change the Asset Cost	Yes	Not Recommended	Yes	Yes	—	—	—	—
Delete the Asset	Not Recommended
Dispose of the asset	Yes	—	—	—	Yes	Yes	Yes	—
Generate Schedules for an Accounting Book from the fixed asset	—	—	—	—	Yes	Yes	—	—
Generate Schedules for an Accounting Book at the book level	—	—	—	—	Yes	—	—	—
Generate Schedules for a Tax Book from the fixed asset.	—	—	—	—	Yes	Yes	Yes	—
Generate Schedules for a Tax Book at the book level	—	—	—	—	Yes	Yes	Yes	—
Generate Schedules for a Custom Book from the fixed asset.	—	—	—	—	Yes	Yes	Yes	—
Generate Schedules for a Custom Book at the book level	—	—	—	—	Yes	Yes	Yes	—