Regarding the Text Box - It does accept as many characters as I type in but when it saves it to the memo field, it truncates after 255 characters.

LSMConsulting - I tried your subform suggestion and received message that the record source specified on this form or report does not exist.  I am sure I am using the wrong control name.  Here is the Record source line that I have for the subform.  

Me.sfrmAssetSerialNo.Form.Recordsource = "SELECT * from tblAssetSerialNumber WHERE tblSerNoAssetID=" & Me.tblAssetID

The following is the code for the Command Save button - txtAssetNote is the textbox and tblAssetNote is defined as a memo field.

Private Sub cmdSave_Click()

    '--- only process Save if there is data in company name
    If IsNull(txtAssetName) Then
        MsgBox "need a Asset name"
        txtAssetMfg.SetFocus
        Exit Sub
    End If
   
    Dim rst As Recordset
    '--- use the primary key (which is always an autonumber field) to find the record
    '--- if it is a new record, this will find no records, as txtAssetID will be 0
    Set rst = CurrentDb.OpenRecordset("select * from tblAsset where tblAssetID=" & txtAssetID)
    If chkNew = True Then   '--- do we add a new record and save an existing one
        rst.AddNew
    Else
        rst.Edit
    End If
    '--- transfer data from text boxes to table fields
    rst!tblAssetName = txtAssetName
    rst!tblAssetMfg = txtAssetMfg
    rst!tblAssetPurchDate = txtAssetPurchDate
    rst!tblAssetSoftwareType = txtAssetSoftwareType
    rst!tblAssetAnnualCost = txtAssetAnnualCost
    rst!tblAssetDueDate = txtAssetDueDate
    rst!tblAssetSerialNo = txtAssetSerialNo
    rst!tblAssetVendor = txtAssetVendor
    rst!tblAssetNote = txtAssetNote
    rst!tblAssetConcurrentUsers = txtAssetConcurrentUsers
    rst.Update  '--- save the record
    rst.Close   '--- close the recordset
    Set rst = Nothing   '--- reclaim the memory the recordset was using
    chkNew = False  '--- reset the new flag
    '--- enable the list box and the Add New button and the Close button
    '--- must be done before moving focus to the list box
    lstAsset.Enabled = True
    cmdAddNew.Enabled = True
    cmdExit.Enabled = True
    '--- make sure the newest data is in the list box
    lstAsset.Requery
    '--- set the focus to the list box
    lstAsset.SetFocus
    lstAsset = lstAsset.ItemData(0)
    Call lstAsset_AfterUpdate
    '--- disable the text boxes and the Save button, and make Edit button enabled
    txtAssetName.Enabled = False
    txtAssetMfg.Enabled = False
    txtAssetPurchDate.Enabled = False
    txtAssetSoftwareType.Enabled = False
    txtAssetAnnualCost.Enabled = False
    txtAssetDueDate.Enabled = False
    txtAssetSerialNo.Enabled = False
    txtAssetVendor.Enabled = False
    txtAssetNote.Enabled = False
    txtAssetConcurrentUsers.Enabled = False
    cmdSave.Enabled = False
    cmdEdit.Enabled = True
    cmdDel.Enabled = True
   
End Sub

The problem with the truncation seems to be happening during the list box selection of the data.  

Private Sub lstAsset_AfterUpdate()

    '--- whenever a new item is chosen in the list box, display the data in text boxes
    txtAssetName = lstAsset.Column(1)
    txtAssetMfg = lstAsset.Column(2)
    txtAssetPurchDate = lstAsset.Column(3)
    txtAssetSoftwareType = lstAsset.Column(4)
    txtAssetAnnualCost = lstAsset.Column(5)
    txtAssetDueDate = lstAsset.Column(6)
  ' txtAssetSerialNo = lstAsset.Column(7)
    txtAssetVendor = lstAsset.Column(8)
    MsgBox (lstAsset.Column(9))
    txtAssetNote = lstAsset.Column(9)
    MsgBox (txtAssetNote)
    txtAssetConcurrentUsers = lstAsset.Column(10)
    txtAssetID = lstAsset.Column(0)   '--- primary key is in the first column (always)
   
End Sub

After the initial edit of the note field, data exceeding 255 characters is placed in the table (the data in the table
is correct).  If I try to edit that same data record again, the above code is executed and only the first 255 characters are placed in the text box.