Fixed assets (FA303000)
You can quickly convert purchased items to fixed assets and track assets by custodian, department, and location. You can also view depreciation and transaction history, calculate depreciation, dispose of assets, and assign bonuses and other allowed VAT benefits to depreciate assets. It is also possible to create an import scenario for importing fixed assets.
## Search line in list window If you are in the list window, the first line in the table is a search line. Each column has a search field which you can click to search for or filter on specific values and narrow down the displayed table rows. You can search and filter in as many columns as you need to, to only display the results you want to view. There are two types of search fields: + White: here you can type a specific search term to display results in this column containing this exact value. If you search on several (partial) words, you can separate them by a space or **%** and get different results: + space: the result contains the words in any order, + **%**: the result contains the words in the specific order, and the **%** functions as a wildcard as well. + Grey: you can click this to open the column filter pop-up window where you can filter the results for this column.The table toolbar
| Button | Description |
|---|---|
| Actions | Provides the following menu commands, which you can click to invoke actions:
|
The Disposal parameters dialog box
By using the Disposal parameters dialog box, you can configure disposal and dispose of the asset. The dialog box includes the elements described below.
| Element | Description |
|---|---|
| Disposal date | The date the asset must be removed from service. This date cannot be earlier than the acquisition date of the asset. |
| Disposal period | The financial period in which the asset is removed from service. The disposal period is calculated automatically based on the date you have entered in the Disposal date field, but you can select another period. |
| Proceeds amount | The disposal amount of the asset. |
| Disposal method | The disposal method to be used. Disposal methods are defined in the Disposal methods (FA207000) window. |
| Proceeds account | The account to post proceeds from the disposal of fixed assets. By default, this account is that defined for the fixed asset class, but you can specify a different account. |
| Proceeds sub. | The subaccount for the specified proceeds account. By default, this subaccount is the one defined for the fixed asset class, but you can override the class value. |
| Depreciate before disposal | A check box that you select to depreciate the asset up to the date of the disposal. |
| Reason | The reason for the disposal. |
| OK ( button) | Closes the dialog box and disposes of the asset. |
| Cancel ( button) | Closes the dialog box without disposing of the asset. |
The Reverse disposal information dialog box
By using the Reverse disposal info dialog box, you can reverse the disposal of an asset. The dialog box includes the elements described below.
| Element | Description |
|---|---|
| Disposal date | The date the asset has been removed from service. |
| Disposal period | The financial period in which the asset has been removed from service. |
| Proceeds amount | The disposal amount of the asset. |
| Disposal method | The disposal method that has been used. |
| Proceeds account | The account the proceeds from the disposal of fixed asset have been posted to. |
| Proceeds sub. | The subaccount for the specified proceeds account. |
| Reversal date | The date to be used for the reversal of the disposal of the asset. If the current business date is later than the disposal date, the current business date is used. Otherwise, the disposal date is used. |
| Reversal period | The financial period in which the asset disposal is to be reversed. By default, the system uses the financial period the reversal date belongs to. If required, you can change the reversal period to a period older than the period of the reversal. |
| OK ( button) | Closes the dialog box and reverses the disposal of the asset. |
| Cancel ( button) | Closes the dialog box without reversing the disposal of the asset. |
The top part
Here you can add information for a new fixed asset or select an existing fixed asset for calculation of depreciation or disposal.
| Element | Description |
|---|---|
| Asset ID | The unique ID of the asset. The ID is determined by the numbering sequence specified in the Fixed assets preferences (FA101000) window. |
| Parent asset | The parent asset of this asset. You can use this box to set up the relationship among assets. |
| Description | A description of the fixed asset. |
The General information tab
The General information tab is used to specify asset summary and tracking details.
The Asset summary section
| Element | Description |
|---|---|
| Asset class | The asset class to which the asset belongs. When you fill in the appropriate asset class for a fixed asset you are creating, the system fills in many boxes with the settings of the class, thus easing data entry. These classes are defined in the Fixed asset classes (FA201000) window. |
| Property type | The way the asset was acquired. The property type can help you to select a depreciation method. Select one of the following options:
|
| Status | The system-generated status of the fixed asset, which is one of the following options:
|
| Hold | A check box that indicates (if selected) that the status of the fixed asset document is On hold and the document can be edited. Clear the check box to change the status of the asset to Active. |
| Asset type | The particular type of the fixed asset. The system fills in this box automatically, based on the fixed asset class the asset is assigned to, but you can manually change the type by selecting the required one from the list. You can create a required fixed asset type or edit an existing one by using the Fixed asset types (FA201010) window, which you can access by clicking the Edit button next to the Asset type field. |
| Tangible | A check box that indicates (if selected) that the asset is tangible or it has a physical existence. The value is filled in by the system automatically according to the asset type selected in the Asset type field. |
| Quantity | The quantity of the fixed asset. |
| Depreciate | A check box that you select if the asset will be depreciated. This check box is filled in by the system according to the settings of the asset class selected in the Asset class field. However, you can select or clear it manually. |
| Useful life, years | The period of time (in years) the asset is expected to be used. This column is filled in by the system according to the setting of the fixed asset class; however, you can override the class setting. |
| Receipt date | The date of the purchase receipt document or the date when the asset was acquired. This date is used by the system as the date of the Purchasing+ transaction generated once an asset is created and saved. |
| Date placed in service | The date when an asset is placed in use. You enter the date for both depreciable and non-depreciable fixed assets. For a depreciable fixed asset, the depreciation is calculated starting from this date. For a depreciable fixed asset, this field will be unavailable for editing once the first depreciation transaction (of the Depreciation+ type) is created. |
| Orig. acquisition cost | The amount that was spent to acquire the asset. Depending on the way the asset was acquired, this amount can be the purchase price or the fair market value of the asset. It also can include closing costs and other expenses spent to acquire the asset. |
| Salvage amount | The book value at the end of the useful life of the asset. |
| Replacement cost | The cost to replace the asset with a similar one. |
| Disposal date | The date the asset was removed from service. This value is generated by the system after the disposal of the asset, based on the date specified in the Disposal parameters dialog box. |
| Disposal method | The way the asset was retired (for example, sold or damaged). The system generates this value after the disposal of the asset, according to the method specified in the Disposal parameters dialog box. |
| Disposal amount | The amount of proceeds from the disposal of the asset. The system generates this value after the disposal, according to the amount specified in the Disposal parameters dialog box. |
| Property tax group | The property tax group of the asset. In this field you choose and set the correct property tax group for the fixed asset. You can also create a new property tax group. For more information, see: Property tax groups (FA209000) |
The Tracking information section
These elements hold information about the location, custodian, and department of the asset.
| Element | Description |
|---|---|
| Branch | The company branch to which the asset is assigned. |
| Building | The ID of the building where the asset is located. |
| Floor | The floor number where the asset is located. |
| Room | The room number where the asset is located. |
| Custodian | The ID of the person who is responsible for keeping the asset safe. |
| Department | The department the asset belongs to. Define departments in the Departments (EP201500) window. |
| Reason | The reason for transferring an asset. Type the reason here if you change the location information in this section. The field is populated automatically with the reason you specify for transfer if you use the Transfer assets (FA507000) window. |
| Tag number | The tag number of the asset. Depending on the settings in the Fixed assets preferences (FA101000) window, the tag number can be the same as the item ID of the asset. |
The Purchase/tangible information tab
This tab is used to specify details that may apply to a tangible asset.
The Purchase details section
| Element | Description |
|---|---|
| Receipt date | The date of the purchase receipt document. |
| Receipt type | The type of the document. The following options are available:
|
| Receipt no. | The ID of the purchase receipt document. |
| Purchase order number | The number of the purchase order related to the purchase receipt document. |
| Purchase invoice no. | The number of the invoice received from the supplier from which the asset was purchased. |
| Manufacturer | The manufacturer of the asset. |
| Model | The model of the asset. |
| Serial number | The serial number of the asset that has been assigned by the manufacturer. You use this number when you receive information and warranty services from the manufacturer. |
| Warranty expires on | The date after which the asset will not be replaced or repaired by the manufacturer, if the asset proves to be defective. |
The Tangible info section
| Element | Description |
|---|---|
| Personal property type | Select the Not applicable option, unless the personal property type you select for the Tangible personal property tax if your business or rental property is located in Florida (in the United States). |
| Condition | The condition of the asset; you can specify Good, Average, or Poor. |
| Fair market value | The price of the asset as agreed upon by both the buyer and the seller. |
The Lease/rent information section
Use this group of elements if you have leased or rented the asset.
| Element | Description |
|---|---|
| Lessor | The owner of the asset that you have leased or rented. |
| Lease/rent term, months | The number of months the lease or rental agreement is in force. |
| Lease number | The number assigned to the lease agreement. |
| Rent amount | The amount that you have paid to use the asset. |
| Retail cost | The price of the asset that can be paid for it by the end consumer. |
| Manufacturing year | The year on which the asset was manufactured. |
The General ledger accounts tab
You use the General ledger accounts tab to define the accounts and subaccounts to which the system will post accumulated depreciation, fixed asset costs, proceeds from asset disposal, and depreciation expenses. If an asset is assigned to a particular fixed asset class, by default, this tab displays the accounts and subaccounts for the fixed asset class; however, you can select other accounts and subaccounts for this fixed asset.
| Element | Description |
|---|---|
| Fixed assets account | The Fixed assets account (an asset account) used to post the actual costs of the fixed asset. |
| Fixed assets sub. | The subaccount for the specified Fixed assets account. The subaccount is automatically changed if the asset changes its location. |
| Accrual account | The asset account to be used to record the cost of items that have not been put into service yet but may be fixed assets in the future. |
| Accrual sub. | The subaccount to be used along with the specified accrual account. |
| Account accumulated depreciation | The asset account used to post accumulated depreciation. |
| Subaccount accumulated depreciation | The subaccount for the specified accumulated depreciation account. |
| Depreciation expense account | The expense account used to post depreciation expense. |
| Depreciation expense sub. | The subaccount for the specified depreciation expense account. |
| Proceeds account | The account used to post proceeds from the disposal of fixed assets. |
| Proceeds sub. | The subaccount for the specified proceeds account. |
| Gain account | The account to which resulting gain will be posted. |
| Gain sub. | The subaccount to which resulting gain will be posted. |
| Loss account | The account to which resulting loss will be posted. |
| Loss sub. | The subaccount to which resulting loss will be posted. |
The Balance tab
You use this tab to assign the asset to depreciation books, and to view and edit the information related to the balance of the asset.
| Column | Description |
|---|---|
| Book | The ID of the book to which the asset is assigned. |
| Depreciation method | The depreciation method for the asset. By default, the depreciation method selected for the fixed asset class is shown here. However, you can select another method from the list. For more information about the methods supported by Visma Net, see: About depreciation configuration |
| Status | The system-generated status of the asset balance. The status can be one of the following options:
|
| Update general ledger | A check box that indicates (if selected) that transactions associated with fixed asset documents will be posted to the General ledger. |
| Date placed-in service | The date when an asset was first placed in use. This column is available only for a non-depreciable fixed asset (that is, one for which the Depreciate field is cleared on the General settings tab). |
| Period placed in service | The period when an asset was first placed in use. This column is available only if the Depreciate field is cleared on the General settings tab for the selected fixed asset. |
| Depr. from | The date starting from which the asset will be depreciated. This date must be specified for each book and can be different from the acquisition date; however, this date cannot be earlier than the acquisition date of the asset. This column is not available for a non-depreciable fixed asset (one for which the Depreciate field is cleared on the General settings tab ). |
| Depr. from period | The first depreciation period that is specified for the book, by its identification number. This column is not available for a non-depreciable fixed asset (one for which the Depreciate field is cleared on the General settings tab ). |
| Last depr. period | The period when the asset was depreciated last, by its identification number. This value is system-generated for fully depreciated assets. This column is not available for a non-depreciable fixed asset (one for which the Depreciate field is cleared on the General settings tab ). |
| Depr. to period | The latest depreciation period or the period until which the asset will be depreciated—by its identification number. This period is determined according to the first depreciation period, the book calendar, the averaging convention, and the useful life of the asset. This column is not available for a non-depreciable fixed asset (one for which the Depreciate field is cleared on the General settings tab ). |
| Orig. acquisition cost | The amount that was spent to acquire the asset. This amount depends on the way the asset was acquired. It can be the purchase price or the fair market value of the asset; it also can include closing costs and other expenses spent to acquire the asset. |
| Current cost | A read-only field that shows the current cost of the asset that you have selected. |
| Business use (%) | The use of the asset that is for business purposes, expressed as a percentage. If you use the asset for both personal and business purposes (as with a car), you may depreciate the cost of the business use only, but not the full cost. The system does not depreciate more than this percentage of the acquisition cost. |
| Basis | The depreciable basis, which is the amount that is allocated over the useful life of the asset. This is a system-generated value; the amount of the depreciable basis depends on the depreciation method applied to depreciate the asset. For some methods, the basis can be equal to the acquisition cost minus the salvage amount. Also, you can adjust the basis amount based on the percentage of business use and the bonus amount. |
| Salvage amount | The expected book value of the asset at the end of its useful life. This column is not available for a non-depreciable fixed asset (one for which the Depreciate field is cleared on the General settings tab ). |
| Accum. depr. | The amount of the depreciation that has been accumulated. This column is not available for a non-depreciable fixed asset (one for which the Depreciate field is cleared on the General settings tab ). |
| Net value | The net book value of the asset. |
| Gain/loss amount | The amount of gain or loss incurred for the company if the asset is disposed of. The gain or loss amount is calculated as the acquisition cost of the asset minus the accumulated depreciation and minus proceeds from disposal. |
| Useful life, years | The period of time (in years) the asset is expected to be used. This column is filled in by the system according to the setting of the fixed asset class; however, you can override the class setting. |
| Recovery periods | The number of depreciation periods. This value is generated by the system according to the Useful life, years setting on this tab. |
| ADS life, years | The Alternative Depreciation System (ADS) life, which is the period of time (in years) the asset is supposed to be used. The ADS life is used with some depreciation methods instead of the useful life. |
| Averaging convention | The convention that determines how fixed assets will be depreciated for the period within which the asset was acquired or disposed. The list of available averaging conventions depends on the depreciation method you have specified. This column is not available for a non-depreciable fixed asset (one for which the Depreciate field is cleared on the General settings tab ). |
| Mid period type | The column that displays the rule (set during the creation of the book) that defines the day in the period that will be considered by the system as the middle of the disposal and acquisition period. The following options are available:
This field becomes available for editing if you select the Modified half period option or the Modified half period 2 option in the Averaging convention column. |
| Day in mid period | A column that displays the day of the month (specified during book creation) that is considered by the system as the middle of the financial period. Depending on the option selected in the Mid period type column during the creation of the book, this column can hold the following value:
This field becomes available for editing if you select the Modified half period option or the Modified half period 2 option in the Averaging convention column. |
| Bonus | The ID of the bonus assigned to the depreciation book. This column is available if you have selected the Bonus check box on the Depreciation settings tab of the Fixed asset classes (FA201000) window for the class and book associated with the asset. You can set up bonuses by using the Bonuses (FA208000) window. This column is not available for a non-depreciable fixed asset (the Depreciate field is cleared on the General settings tab for the selected fixed asset). |
| Bonus rate | The bonus rate (as a percentage) that is defined for this bonus in the Bonuses (FA208000) window. The system calculates the bonus if the start depreciation date (specified in the Depr. from column) is within the date range specified for the bonus. This column is not available for a non-depreciable fixed asset (one for which the Depreciate field is cleared on the General settings tab ). |
| Bonus amount | The bonus amount, which is the acquisition cost multiplied by the bonus rate. This column is not available for a non-depreciable fixed asset (one for which the Depreciate field is cleared on the General settings tab ). |
| Bonus recapture | The amount that must be recaptured if the asset is disposed of during the first two years of its useful life. This column is not available for a non-depreciable fixed asset (one for which the Depreciate field is cleared on the General settings tab ). |
The Components tab
This tab displays the list of fixed assets for which the current asset is the parent asset. For example, a component of this asset can be the repair or improvement of it. You cannot modify any information displayed on this tab.
| Column | Description |
|---|---|
| Asset ID | The ID of the asset. |
| Description | A description of the asset. |
| Asset class | The asset class to which the component asset belongs. Asset classes are defined in the Fixed asset classes (FA201000) window. |
| Asset type | The component type, which can be Building, Land, Vehicle, Machinery, Equipment, Computers, Furniture, Software, Goodwill, Patents, or Copyrights. |
| Status | The system-generated status of the fixed asset component, which is one of the following options, as described under the General settings tab: Active, On hold, or Disposed. |
| Orig. acquisition cost | The amount that was spent to acquire the component. |
| Useful life, years | The time period (in years) the component asset is supposed to be used. All the components have the same useful life as the parent asset. |
| Active | A check box that indicates (if selected) that the fixed asset has a status of Active. |
| Property type | The way the component asset was acquired. The following options, described under the General settings tab, are available: Property, Grant property, Leased, Leased to others, Rented, Rented to others, and To the credit of. |
| Condition | The condition of the asset, which can be Good, Average, or Poor. |
| Receipt date | The date of the purchase receipt document. |
| Receipt type | The type of the document. The following options are available:
|
| Receipt no. | The reference number of the purchase receipt. |
| Purchase order number | The reference number of the purchase order related to the purchase receipt document. |
| Purchase invoice no. | The number of the invoice that was received from the supplier of the asset. |
| Manufacturer | The manufacturer of the asset. |
| Serial number | The ID of the asset that is assigned by the manufacturer. Through the serial number, you can receive information or warranty services from the manufacturer. |
| Tag number | The tag number of this asset. Depending on the settings in the Fixed assets preferences (FA101000) window, the tag number can be the same as the ID of the asset. |
The Depreciation history tab
You can use the Depreciation history tab to view the calculated depreciation according to the depreciation books to which the asset was assigned. This tab appears as soon as the settings of the Fixed assets workspace are specified in the Fixed assets preferences (FA101000) window.
The way the data is displayed on this tab depends on the Depreciation history view option specified in the Fixed assets preferences (FA101000) window. You can set up the window to view depreciation records in a selected book ( By book ) or in all books at once ( Side by side ).
The top part
If By book is selected in the Depreciation history view field of the Fixed assets preferences (FA101000) window, this tab displays depreciation records for a book you select in this area.
| Element | Description |
|---|---|
| Book | The book for which depreciation history is shown below. |
The By book table
If By book is selected in the Depreciation history view field of the Fixed assets preferences (FA101000) window, this table displays information on depreciation history for the book you have selected above. This information cannot be edited.
| Column | Description |
|---|---|
| Period | The financial period in the book to which the depreciation should be posted. The first two characters reflect the period number within a financial year; the last four digits indicate the financial year. |
| Calculated | The calculated depreciation amount for the financial period. If depreciation was suspended for this period, the transaction amount is zero. |
| Depreciated | The actual amount depreciated for this period. If depreciation was suspended for this period, the transaction amount is zero. |
The Side by side table
If Side by side is selected in the Depreciation history view field of the Fixed assets preferences (FA101000) window, this tab displays side by side all the books to which the asset has been assigned. You may not edit the information displayed in this table.
| Element | Description |
|---|---|
| Period | The financial period in the book to which the depreciation should be posted. The first two characters of the text reflect the period number within a financial year, and the last four digits indicate the financial year. |
| 1 Calculated | The depreciation amount of calculated value for the related financial period. If depreciation was suspended for this period, the transaction amount is zero. |
| 1 Depreciated | The depreciation amount of real value for the related financial period. If depreciation was suspended for this period, the transaction amount is zero. |
The Location history tab
This tab displays any modifications that were made to the Tracking information section on the General settings tab. That is, this tab displays where the asset was located, which department the asset belonged to, and who was the custodian of the asset before any modifications (for example, replacing the asset or changing the custodian) were made. You cannot edit or delete the information displayed on this tab. The most recent modification is displayed at the top of the modification list.
| Column | Description |
|---|---|
| Transaction date | The date of the transaction related to the modification in the Tracking information section on the General settings tab. |
| Branch | The branch where the asset was located before the modification date. |
| Building | The building where the asset was placed. |
| Floor | The floor where the asset was placed. |
| Room | The room where the asset was placed. |
| Custodian | The ID of the person who was responsible for keeping the asset safe before the modification date. |
| Employee name | The name of the custodian of the asset. |
| Department | The department to which the asset belonged before the modification date. |
| Reason | The reason of transaction. |
| Fixed assets account | The fixed assets account (an asset account) used to post the cost of fixed assets. |
| Fixed assets sub. | The subaccount for the specified fixed assets account. |
| Account accumulated depreciation | The account used to post accumulated depreciation (an asset account). |
| Subaccount accumulated depreciation | The subaccount for the specified accumulated depreciation account. |
| Depreciation expense account | The expense account used to post depreciation expenses. |
| Depreciation expense sub. | The subaccount for the specified depreciation expense account. |
| Last modified by | The user who made the modification. |
| Modification date | The date when the modification was made. |
The Transaction history tab
On this tab, you can view all the asset-related transactions that were generated by the system or entered manually. You can manually create transactions of the Purchasing + or Depreciation + types by using the Fixed asset transactions (FA301000) window.
You can delete a transaction listed here only if it has not been released. You can filter the transactions to be displayed below.
| Element | Description |
|---|---|
| Book | The book where the transactions were entered. If this field is empty, all the transactions of the asset are displayed in the table on this tab. |
| Column | Description |
|---|---|
| Book | The book where the transaction was entered. |
| Trans. date | The date when the transaction was entered into the system. |
| Tran. period | The financial period in the book to which the transaction should be posted. |
| Transaction type | The type of the transaction. For more information, see: About types of fixed asset transactions |
| Debit account | The account to be debited by this transaction. The system generates this value according to the transaction type and the settings on the General ledger accounts tab. |
| Description | The description provided for the account. |
| Debit subaccount | The subaccount to be debited by this transaction. The system generates this value according to the transaction type and the settings on the General ledger accounts tab. |
| Description | The description provided for the subaccount. |
| Credit account | The account to be credited by this transaction. The system generates this value according to the transaction type and the settings on the General ledger accounts tab. |
| Description | The description provided for the account. |
| Credit subaccount | The subaccount to be credited by this transaction. The system generates this value according to the transaction type and the settings on the General ledger accounts tab. |
| Description | The description provided for the subaccount. |
| Transaction amount | The amount of the transaction. |
| Reference number | The number identifying the transaction in the system. |
| Batch no. | The batch, by its ID, generated for the transaction that updates the general ledger. |
| Released | A check box that indicates (if selected) that the transaction was released. Only balanced transactions can be released. |
| Method | The statute-allowed benefit that is used to depreciate the asset:
|
| Transaction description | A description of the transaction. |
The Reconciliation tab
You can use this tab to make additions or deductions to the net book value and to convert purchased items to components of the selected asset. You can view the document on this tab only if the fixed asset accrual account and corresponding subaccount have been specified on the Document details tab of the Purchase invoices (AP301000) window when the invoice was created.
If the selected asset is not associated with the posting book, this tab is only informational.
The Transactions table
You can filter the list of transactions to be shown by account and subaccount. Each of the transactions might include multiple quantities of an item that can be converted into fixed assets as individual assets or components of the current asset.
| Element | Description |
|---|---|
| Reconciliation type | The type of the reconciliation. The following options are available:
|
| Account | The asset account. You should generally specify the account that has been used to temporarily record transactions, including stock items that have already been purchased but have not yet been put into service. By default, the asset account is the fixed asset accrual account that is specified in the Fixed assets preferences (FA101000) window. |
| Subaccount | The appropriate subaccount for the specified asset account. By default, this subaccount is the fixed asset accrual subaccount that is specified in the Fixed assets preferences (FA101000) window. This field is available only if the Enable/disable functionalities (CS100000) window. |
| Trans. date | The date which will be assigned to the transaction of the Purchasing+ or Purchasing- type that is created automatically when you make addition or deduction to the existing fixed asset. By default, the acquisition date of the currently selected asset is specified. |
| Addition period | The financial period to which the transaction of the Purchasing+ or Purchasing- type (that is created automatically when you make addition or deduction to the existing fixed asset) will be posted. Select an appropriate period. |
| Show transactions marked as reconciled | A check box you select to view transactions marked as reconciled. |
| Acquisition cost | The amount that was spent to acquire the asset. |
| Current cost | The current cost of the asset. |
| Accrual balance | The part of the amount reconciled with the General ledger. |
| Unreconciled amount | The rest of the amount to be reconciled with the General ledger. |
| Selection total | The total cost of items to be selected, which is the total of the amounts specified in the Selected amount column. This amount is equal to the selected quantity multiplied by the unit cost. |
| Expected cost | The estimated cost of the asset after reconciliation. |
| Expected accrual balance | The estimated amount of the accrual balance after reconciliation. |
| Reduce unreconciled cost | A button that you can click to instruct the system to ignore the unreconciled amount and bring the cost of the fixed asset to the reconciled value. This button is available for partially reconciled assets (that is, the assets that have accrual balance and unreconciled amount present). As a result, the system generates Purchasing - transaction. |
The table toolbar
The table toolbar includes standard buttons and buttons specific to this table.
| Button | Description |
|---|---|
| Process | Generates a transaction or transactions of the Reconciliation+ type if the Addition option is selected in the Reconciliation type field in the top part of this tab. This action generates a transaction or transactions of the Reconciliation type if the Deduction option is selected in the Reconciliation type field. |
The table columns
The table shown on this tab displays transactions that were included in invoices in the Purchase invoices (AP301000) window and then released and posted to the General ledger. If you select a transaction in this table, the entire quantity of the selected item will be converted to a fixed asset.
| Column | Description |
|---|---|
| Included | An unlabelled check box you can select to include the item for processing. After the check box is selected, you have two ways to proceed, depending on whether you want to create new fixed assets or you plan to create components of the currently selected fixed asset:
|
| Component | A check box that indicates (if selected) that the selected quantity of the item will be components of the currently selected asset. A fixed asset can have any number of components. If you select the check box, specify (in the next column) the asset class that will be a child asset class of the current asset. |
| Asset class | The asset class to which the selected quantity of the item must be assigned during conversion. The asset class will be a child asset class of the current asset. You should specify the asset class to which the selected units of the stock item will be assigned if the Component check box is selected. |
| Reconciled | A check box that indicates whether the transaction is reconciled. |
| Branch | The branch of your company where the asset is located. |
| Item ID | The ID of the stock item. |
| UOM | The unit of measure of the stock item. |
| Selected quantity | The quantity of the stock item selected to be a fixed asset. By default, this value is 1; you can increase it to convert a larger quantity of the item into fixed assets as components of the current asset. To do this, select the Component check box and assign the selected units to the asset class by using the Asset class column. |
| Selected amount | The total cost of the selected quantity of the stock item. This amount is equal to the selected quantity multiplied by the unit cost. |
| Open quantity | The original quantity minus the selected quantity. |
| Open amount | The total cost of the open quantity of the stock item, which is calculated as the open quantity multiplied by the unit cost. |
| Orig. quantity | The original quantity, which is the number of units of the stock item that were purchased, according to the invoice entered into the system by using the Purchase invoices (AP301000) window. |
| Unit cost | The cost per unit, according to the invoice entered into the system in the Purchase invoices (AP301000) window. |
| Orig. amount | The total cost of units of the stock item that were originally purchased, according to the invoice. This amount is calculated as the unit cost multiplied by the number of units that were purchased. |
| Transaction date | The date of the invoice. |
| Transaction description | The description of the purchased item. |
Related pages
Concepts
- About changes in fixed asset estimates
- About fixed asset entry
- About fixed asset reversal
- About fixed asset types
- About fixed asset adjustment transactions
Tasks
- Change net book value of an asset
- Change the salvage value of an asset
- Change the useful life of an asset
- Convert purchased items to components of a fixed asset
- Delete a fixed asset
- Delete an unreleased fixed asset transaction
- Dispose of an asset
- Enter an asset
- Import fixed assets
- Release a fixed asset transaction
- Reverse an asset disposal
- Reverse an asset
- Suspend asset depreciation
- Transfer an individual asset