Fix for registered assets not impacting revenue or F&A

You may have noticed when running reports (such as Award Budget to Actuals) that when an asset is registered in Workday, it looks like an expense is removed and then reposted. This is because when the Supplier Invoice to acquire the asset is approved, it creates an expense on the grant, which appears in reports. When the Controller’s Office registers the asset, it creates what’s called an allocation, which also shows up in reports.

Registering an asset won’t affect F&A or revenue on the award.  It did previously, but Modernization has created a “fix” within Workday so that F&A and revenue won’t be impacted in the future. Look for the journal source “Asset Assigned Accounting” in reports to identify these transactions. Note: The expense reposting may happen in a future month if the asset is registered in a different month than when it was purchased.