Difference between revisions of "How do I set up a fixed asset register?"
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== Summary == | == Summary == | ||
| − | This article explains how to record fixed assets and the depreciation postings to made by the system. | + | This article explains how to record fixed assets and the depreciation postings to be made by the system. |
== More Information == | == More Information == | ||
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* Select the {{Tab|Asset}} tab. | * Select the {{Tab|Asset}} tab. | ||
* Set {{DataPrompt|Asset}} to {{DataValue|Yes}}. | * Set {{DataPrompt|Asset}} to {{DataValue|Yes}}. | ||
| − | * Enter the {{DataPrompt|Start Date}} depreciation begins. This is for reference only. Please note the {{Tab|Details}} tab controls the date the postings will start. | + | * Enter the {{DataPrompt|Start Date}} on which the depreciation begins. This is for reference only. Please note the {{Tab|Details}} tab controls the date the postings will start. |
| − | * Enter the {{DataPrompt|Start value}} for the asset i.e. its original nett value. | + | * Enter the {{DataPrompt|Start value}} for the asset, i.e. its original nett value. |
* Enter the {{DataPrompt|Current value}} for the asset. As postings are made this value will be automatically reduced. | * Enter the {{DataPrompt|Current value}} for the asset. As postings are made this value will be automatically reduced. | ||
* Set the {{DataPrompt|Type}} to {{DataValue|Amount}} or {{DataValue|Percentage}} depending on the method you wish to use to depreciate the asset. | * Set the {{DataPrompt|Type}} to {{DataValue|Amount}} or {{DataValue|Percentage}} depending on the method you wish to use to depreciate the asset. | ||
| − | * Specify whether you wish to use the {{DataValue|Current}} or {{DataValue|Start} value to base the depreciation | + | * Specify whether you wish to use the {{DataValue|Current}} or {{DataValue|Start} value on which to base the depreciation. |
=== Amounts === | === Amounts === | ||
Go to the {{Tab|Amounts}} tab. | Go to the {{Tab|Amounts}} tab. | ||
| − | * Enter your your Fixed Asset Nominal {{DataPrompt|Centre}} e.g. {{DataValue|60171 - Motor Vehicles - Current Depn}}. | + | * Enter your your Fixed Asset Nominal {{DataPrompt|Centre}}, e.g. {{DataValue|60171 - Motor Vehicles - Current Depn}}. |
| − | {{Tip|text=The asterix underneath the {{DataPrompt|Asset}} column denotes this line of the journal relates to the asset. | + | {{Tip|text=The asterix underneath the {{DataPrompt|Asset}} column denotes this line of the journal relates to the asset. The {{KeyPress|F3}} function key can be used to set a different line as the asset line if required.}} |
* Enter the {{DataPrompt|Amount}} or {{DataPrompt|Percentage}}, depending on your asset settings, as a negative value. | * Enter the {{DataPrompt|Amount}} or {{DataPrompt|Percentage}}, depending on your asset settings, as a negative value. | ||
* Enter a suitable {{DataPrompt|Comment}}. | * Enter a suitable {{DataPrompt|Comment}}. | ||
* Click {{Button|Add}}. | * Click {{Button|Add}}. | ||
| − | * Enter the Profit & Loss Centre to post the deprecation value | + | * Enter the Profit & Loss Centre to which to post the deprecation value, e.g. {{DataValue|Z998- Depreciation}}. |
* Enter the {{DataPrompt|Amount}} or {{DataPrompt|Percentage}}, depending on your asset settings, as a positive value. | * Enter the {{DataPrompt|Amount}} or {{DataPrompt|Percentage}}, depending on your asset settings, as a positive value. | ||
* Enter a suitable {{DataPrompt|Comment}}. | * Enter a suitable {{DataPrompt|Comment}}. | ||
Revision as of 11:03, 24 January 2020
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This article or section applies to a Platinum feature currently being developed. Be aware: Content may change. |
Summary
This article explains how to record fixed assets and the depreciation postings to be made by the system.
More Information
Go to " Nominal Ledger Maintenance Options Regular Postings".
- Click [Add].
- Create the posting [Details] as per this article.
Asset
- Select the [Asset] tab.
- Set "Asset" to 'Yes'.
- Enter the "Start Date" on which the depreciation begins. This is for reference only. Please note the [Details] tab controls the date the postings will start.
- Enter the "Start value" for the asset, i.e. its original nett value.
- Enter the "Current value" for the asset. As postings are made this value will be automatically reduced.
- Set the "Type" to 'Amount' or 'Percentage' depending on the method you wish to use to depreciate the asset.
- Specify whether you wish to use the 'Current' or {{DataValue|Start} value on which to base the depreciation.
Amounts
Go to the [Amounts] tab.
- Enter your your Fixed Asset Nominal "Centre", e.g. '60171 - Motor Vehicles - Current Depn'.
 | The asterix underneath the "Asset" column denotes this line of the journal relates to the asset. The <F3> function key can be used to set a different line as the asset line if required. |
- Enter the "Amount" or "Percentage", depending on your asset settings, as a negative value.
- Enter a suitable "Comment".
- Click [Add].
- Enter the Profit & Loss Centre to which to post the deprecation value, e.g. 'Z998- Depreciation'.
- Enter the "Amount" or "Percentage", depending on your asset settings, as a positive value.
- Enter a suitable "Comment".
- Click [Done] and [Accept] the record.
 | Each morning, following the first user log in of the day, the system checks for regular postings and posts the relevant records |
.
See more
- How do I set up repetitive journals?
- Why can't I Set up a Regular Journal to Profit & Loss Centres?
- What does nominal review show me?
- How do I Search for a Nominal Centre?
