Fixed assets

Quick conversion from acquired items to fixed assets

In Visma Net, if your company has acquired new assets, you can quickly convert these items into fixed assets. The acquisitions can be converted as separate assets or as components of an existing asset. Alternatively, you can add a fixed asset by entering the required information manually.

Fixed asset classes

You can configure fixed asset classes, which let you group similar fixed assets for processing and reporting. Once you assign a new asset to a specific class, the default values from the class are automatically filled in. For more information, see:Fixed asset classes (FA201000)

Fixed asset types

While creating a new fixed asset or fixed asset class in the system, you have to specify the type of the asset. In Visma Net, a list of predefined fixed asset types is available. If additional asset types are required, you can create new asset types that meet your business needs, and define each type as describing tangible or intangible assets. For more information, see:About fixed asset types

Fixed asset hierarchy

You can create a fixed asset hierarchy by selecting parent classes for fixed asset classes and associating fixed assets with parent assets. The hierarchy is implemented only for informational purposes.

Depreciation methods

The depreciation method determines the way the cost of an asset is allocated over the asset’s useful life or its lifetime production of units. In addition to the standard depreciation methods, you can configure your own ones. For the same asset, different depreciation methods can be used for financial reporting and VAT reporting. For more information, see:About depreciation configuration

Built-in averaging conventions

Visma Net provides a number of built-in averaging conventions to be used for calculating depreciation for the financial periods within which an asset was acquired or disposed. You can select the averaging convention that suits the specific depreciation method. For more information, see:About averaging conventions

Flexible options for depreciation calculation

You can automate depreciation calculations for all types of assets by creating schedules for depreciation. You can run these schedules for a particular asset or for multiple assets. If needed, you can suspend the depreciation of specific assets for an unspecified number of periods. For more information, see:About depreciation of fixed assets

Mass fixed asset transfer

By using Visma Net, you can transfer the assets between branches one by one or in bulk. For more information, see:About transfers of fixed assets

Other functionalities and options

By using the Fixed assets workspace, you can also do the following:

• Create custom depreciation methods
• Schedule depreciation
• Easily track fixed assets by branch, department, and custodian
• View the depreciation history of an asset in multiple ways and change the views at any time
• Use a wide variety of fixed-asset reports that provide accounting and management information
• Assign multiple depreciation books (for example, one for VAT reporting and one for financial management) to the fixed assets
• Split and transfer assets
• Delete empty transaction documents