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 be made by the system. | This article explains how to record fixed assets and the depreciation postings to be made by the system. | ||
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* 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 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 on which to base the depreciation. | * Specify whether you wish to use the {{DataValue|Current}} or {{DataValue|Start}} value on which to base the depreciation. | ||
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* Enter a suitable {{DataPrompt|Comment}}. | * Enter a suitable {{DataPrompt|Comment}}. | ||
* Click {{Button|Add}}. | * Click {{Button|Add}}. | ||
− | * Enter the Profit & Loss Centre to which to post the | + | * Enter the Profit & Loss Centre to which to post the depreciation 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}}. | ||
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* Click {{Button|Done}} and {{Button|Accept}} the record. | * Click {{Button|Done}} and {{Button|Accept}} the record. | ||
− | {{Information|text=Each morning, | + | {{Information|text=Each morning, as a hidden part of the first user log in of the day, the system checks for regular postings and posts the relevant records}}. |
== See more == | == See more == |
Latest revision as of 15:59, 24 March 2020
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 '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 depreciation 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, as a hidden part of 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?