Related_Assets_Report

Related Assets Report

A Related Assets Report identifies assets that are linked or associated with one another in the system. These relationships help track assets that function together, were acquired together, or are connected for accounting and management purposes.

Related assets can include:

  • Parent/child asset relationships
  • Components of a larger asset
  • Improvements tied to an original asset
  • Assets purchased as part of a project
  • Replacement or successor assets
  • Associated land, buildings, and equipment


Examples:
  • A building asset related to its HVAC system and generator
  • A vehicle related to attached equipment
  • Construction in Progress (CIP) assets linked to the completed capital asset
  • Computer systems with related servers, monitors, and accessories


Organizations use this report to:
  • Track complex asset groupings
  • Manage component depreciation
  • Support maintenance and replacement planning
  • Preserve audit trails for capital projects
  • Review asset dependencies and ownership relationships


This report is especially useful in governmental accounting environments where:
  • major assets contain separately depreciated components,
  • projects transition from CIP to completed assets,
  • or auditors need visibility into how assets are connected.


Compared to other reports:
  • Transaction Register → shows activity transactions
  • Transfer Report → shows movement between entities
  • Schedule of Changes in Assets → summarizes balance changes
  • Related Assets Report → shows structural or logical relationships between assets


1. Open Connect Asset Management > Reports > Related Assets Report.

2. Select a report title.

3. Select the print option.

A report-only transaction is created for capitalization and depreciation based on the user-defined settings for the assigned asset types. Governmental assets are reported differently to depreciate assets; usually, the depreciation transactions are reported as report-only transactions. The report-only transactions allow you to see the differences in the reporting requirements.

Do you want to include report-only transactions?

  • Yes, I want to include report-only transactions.

  • No, I do not want to include report-only transactions.

  • I want to print a report. Select the Print Report Only checkbox. The routine will print the transactions that will be updated as a report. This option will not update any transactions. It's a good option to use to make sure the transactions that will be posted are correct.

  • I want to update transactions. Leave blank the Print Report Only checkbox. The routine will create and save transactions.  

4. Click Print (CTRL+P).  

The report prints.

 

 

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