For each fixed asset, you must set up a card containing information about the asset. You can set up buildings or production equipment as a main asset with a component list.
The fixed asset card is divided into separate FastTabs for various types of information.
A fixed asset can be split up into several fixed assets, and several fixed assets can be combined in one. If a fixed asset is partially disposed, it must be separated into two fixed assets, and then one of them can be sold.
Fixed assets can be grouped in various ways, for example, by class, department or location.
You can set up budgeted assets. This makes it possible to include any anticipated acquisitions and sales in reports.
Posting the Acquisition Cost
The first entry for a fixed asset must be an acquisition cost.
When you post to a depreciation book in which acquisition cost has G/L integration, you must use the purchase invoice or the credit memo (to post the acquisition cost as a credit amount.)
When you post to a depreciation book in which acquisition cost does not have G/L integration, you must use the FA Journal.
Posting Dates
An asset can have different acquisition dates:
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The posting date is used as the acquisition date in the general ledger.
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The FA posting date is used as the acquisition date in the FA ledger.
The date in the Depreciation Starting Date field in the FA depreciation book is used as the starting date for calculating depreciation if only acquisition cost and salvage value (if any) have been posted.
Posting to the Insurance Coverage Ledger
If you fill in the Insurance No. field on the purchase invoice or in the journal when you post an acquisition cost, the program will also post the acquisition cost of the fixed asset to the insurance coverage ledger.
Salvage Value
The salvage value is the residual value of a fixed asset when it can no longer be used.
You can post the salvage value from a purchase invoice or an FA journal, either at the same time as you post the acquisition cost, or from an FA journal later on.
Indexation
Indexation is used to adjust values for general price-level changes. The Index Fixed Assets batch job can be used to calculate the acquisition costs at replacement costs.
The following table describes a sequence of tasks, with links to the topics that describe them. These tasks are listed in the order in which they are generally performed.
| To | See |
|---|---|
Add information to the Fixed Assets window. | |
Select the method to use when calculating depreciation in the current depreciation book for the current fixed asset | |
Post to a depreciation book in which acquisition cost has general ledger integration using the purchase invoice. | |
Post to a depreciation book in which acquisition cost is integrated with the general ledger using a purchase credit memo to post acquisition cost as a credit entry. | How to: Post Acquisition Costs as Credits from Purchase Credit Memos |
Post to a depreciation book in which acquisition cost does not have general ledger integration using the FA Journal. | |
Post to a depreciation book in which acquisition cost is not integrated with the general ledger, and you can post the acquisition cost as a credit from an FA journal. | How to: Post Acquisition Costs as Credits from Fixed Asset Journals |
Correct an erroneously posted acquisition cost. | |
Set up individual fixed asset cards for a main asset and all its components. | |
View totals for the components on the component list for the relevant main asset. | |
Duplicate the lines posted to a depreciation book in a separate journal, from which they can be posted to a different depreciation book. | |
Post the salvage value together with the acquisition cost from a purchase invoice. | |
Post the salvage value from an FA journal either at the same time as you post the acquisition cost or later. | |
View information about salvage value transactions in the Fixed Asset Statistics window. | |
Create a list of all your fixed assets for inventory, insurance, and other management purposes. | |
Print posting information related to fixed assets. |