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Fixed Assets Overview

Fixed Assets is a functionally rich international fixed asset system with the extraordinary flexibility necessary to comply with world-wide depreciation, depletion and amortization (DDA) regulations.  Three fundamental features meet the Fixed Assets needs of multi-national organizations:

• An unlimited number of books
• Depreciation
• Full multi-currency

HIGHLIGHTS

• Multiple Registers each denominated in any user-defined currency.
• Cost Accumulation in any currency.
• Currency conversion from any user-defined currency.
• Full history of Transfers and Inventories.
• Single Cost accumulation with adjustments for each book.
• Online Reference to source documents (paper or electronic).
• Unlimited number of user-defined fields.

Modules to Set Up Before Fixed Assets

P2 IDEAS requires that the General Ledger module be set up before settings and configurations in the Fixed Assets module can be defined.

Refer to the General Ledger manual for guidance on how the GL module should be configured.

System Setup Procedures

To set up P2 IDEAS to operate the Fixed Assets module, complete the following steps in the order listed.

Setting Up the Fixed Assets System

The Fixed Asset tables should be set up as follows:

1, Primary Required Tables in the following order:

• • Journal Definition (GL Utilities) (Define Depreciation)
  • Register Codes Table (define Default Register)
  • System Parameters Table

2,  Secondary Required Tables in any order:

• • Condition Codes
  • Status Codes
  • Depreciation
  • Group Codes
  • Location Codes
  • Department Codes (Required if Department validation set to “FA” in System Parameters Table)

3, in any order: 

• • User Defined Fields
  • Documentation Codes
  • Authorizing Document Codes
  • Condition Codes
  • Units of Production

4. Unlock Fixed Asset Journals for the period (General Ledger > Journal Period Lock Maintenance).

5. Process asset transaction as necessary to maintain the Asset Data Base.

6. Perform monthly depreciation processing without Finalizing.

7. Review Depreciation reports.

8. Correct Fixed Asset Data Base as necessary.

9. Repeat review and correction until satisfied with the depreciation results.

10. Perform monthly depreciation processing and Finalize.

11. Validate and post Asset generated journal entries (General Ledger).

12. Lock Fixed Asset Journals.

Accounting Overview

Depreciation

The basic depreciation entry generated by the system is:

DR - Depreciation Expense

CR - Accumulated Depreciation

 There is considerable flexibility in how the final entry will be recorded.   The following describes some of the options:

•  The depreciation expense and accumulated depreciation. This is controlled by the Register Code parameters. The expense and liability are controlled separately. Specification of the depreciation account is controlled by Property Group.re controlled separately. Specification of the depreciation account is controlled by Property Group.
• The standard proration of annual depreciation is 1/12 to each period.  However, the proration can be calculated through the depreciation logic. If only annual depreciation is calculated by the depreciation formula, Alternatively, the monthly depreciation can be calculated in the formula which can be any amount (e.g., 1/13). 

Conventions:  International Accounting Standards allow several treatments of depreciation in the period of acquisition and disposition.  They are:

• Take one half of the month's depreciation in the month of acquisition and disposal.
• Take a half year depreciation in the year of acquisition and a half year in the year of disposal.
• Take a full month depreciation in the month of acquisition and nothing in the month of disposal.
• A U.S. tax law convention which is not supported in P2 IDEAS/FA.
• Next Month Convention:   Take full-months depreciation in the month following acquisition and nothing in the month of acquisition or month of disposal.

These conventions can be automatically invoked through a parameter in the depreciation formula. Other conventions are supported by the user-defined depreciation logic.

Multiple Currency Processing

To use Fixed Assets to maintain separate registers in two or more currencies, do the following:

1. Elect cost basis by Register (yes or no) on the FA constants screen.  If Cost Basis, then the costs must be maintained separately for each Register.
2. Define a register will be denominated. 

Generally, no further effort is required to maintain additional registers other than to run depreciation for the register. However, if additional costs are incurred which affect the basis, additional registers must again be adjusted to reflect the current exchange rate.

Screen-by Screen Instructions

The Fixed Assets module offers functions to support all activities required to maintain Fixed Assets.

P2 IDEAS logically organizes functions into menus. Below are the six menu names and the functions which fall under each:

Please see the Screen-by-Screen Instructions supplied for each screen for detailed instructions on how to complete each screen. These instructions are in the  sections immediately following.

Export to Excel Feature

Some screens in this module may have an Export to Excel  button incorporated in the screen or an Export to Excel  icon in the toolbar.  The user can click on this button or icon to export the raw report data directly to an Excel spreadsheet, bypassing the report.  This feature is useful as it allows clients to use Excel features (for example, pivot tables, etc.) to organize the data as desired.

Asset Master Maintenance

Asset Master Maintenance is used to review, maintain, and preview the Fixed Asset Master Record. Users may print the record or use the Crystal Reports viewer to save an electronic copy on their computers.

Asset Master Maintenance Screen

The Master Record contains all the information about an asset. The Master Record consists of the fields shown plus information behind sixteen of these fields.

The 14 tabs are accessed by clicking on the tab. The contents of the FA Asset Master tabs are described following the main screen description.

The Asset Master Maintenance screen consists of a header and a tab section. The header is always visible when in the Asset Master Maintenance screen.

The lower section of the screen contains 14 main tabs, some of which contain sub-tabs that display additional information.

• Company – Enter an existing company number, or use the spyglass button to search. An example of the search window is below.

• Asset ID– When creating a new asset, enter a unique user-defined code to identify the asset. The code may be alphanumeric and up to 20 characters long. To review or edit an existing asset, enter the asset ID, or use the spyglass button to search. An example of the Asset Number Search window is below.

• Description – When creating a new asset, enter a description for the asset. The description may be up to 30 characters long. When reviewing or editing an existing asset, the description of that asset will display automatically.
• Long Description – For a new asset, enter a long description for the asset. The description may be up to 60 characters long. When reviewing or editing an existing asset, the long description for that asset will display automatically.
  
  

The Master Tab

The Master tab is the first of the 14 tabs in the Asset Master Maintenance screen. When reviewing or editing an existing asset, the information in this tab will display automatically.

• Mfg/Vendor (Optional) – Enter the name of the manufacturer or supplier of this item.
• Serial No. (Optional) – If applicable, enter the serial number recorded on the asset by the manufacture.  This helps uniquely identify like assets and is especially valuable when the tag or asset number has been removed from an asset.
• Model/Part No (Optional) – Enter the manufacturer or supplier model or part number for reference.
• Tag No (Optional) – Enter the tag number assigned to this asset.
• Leased (Optional) – Check this box if the asset is leased. This will activate the Lease tab. If the box is not checked, the Lease tab is not enabled.
• Location (Optional) – Enter the physical location where the asset resides.
• Sub Location (Optional) – Enter more specific information regarding the physical location of the asset, if desired.
• Custodian (Optional) – Enter the name of the individual responsible for this asset.
• Department (Required) – Enter a department code. The department code is validated against either the Chartmaster or the Fixed Asset Department Table as specified in the System Parameters responsible for the asset. This field is also used to form the General Ledger Account when referenced.
• Condition (Optional) – Enter the code to describe the condition of the asset, or use the spyglass button to search.
• Comments (Optional) – Enter additional comments, as needed.
• Group (Required) – All assets must be classified into one of the user-defined property groups. Enter the code to define the property group for this asset, or use the spyglass button to search.
• Valuation (Optional) – The valuation fields are used to capture additional valuation information (e.g. – insurance, replacement, fair market, appraised, etc.).  Check the Valuation box to enable the Valuation tab.  The valuation information is entered on the Valuation tab.

The Lease Tab 

The Lease tab provides supplemental information for leased assets. The information is collected for reporting purposes only. The Lease tab information will only be active if the Leased check box is checked on the Master tab.

The fields in the Lease tab are optional, but it is recommended that lease information be maintained for leased assets to aid proper valuation.

• Lease Amt (Optional) – Enter the total value of the lease.
• Payment Amt (Optional) – Enter the amount of each lease payment.
• Pay Frequency (Optional) – Enter the frequency of payment (e.g., Monthly, Annually, etc.).
• Lease Type (Optional) – Enter the lease type (e.g., Financing, Capital, etc.).
• Expire Date (Optional) – in any valid format, enter the date the lease will expire. The date entered should comply with the date settings for the system.
• Term (Optional) – Enter the term of the lease in months.
• Buy Out Amt (Optional) – Enter the buy-out amount for the lease, if any.

The Location Tab

The Location tab each asset. The history of the movement of the asset is retained on this tab. The information is collected for reporting purposes only.  

The information recorded in this tab feeds several inventory movement reports included in the Fixed Assets system. It is recommended that the movement of inventory be maintained in this tab to allow for accurate reporting.

• Date (Required) – Enter the effective date in any valid format. The date entered should comply with the date settings for the system.
• Location (Required) – Enter a location code, or double-click the Location field in the grid to search.
• Description (Display Only) – The location description is displayed once a Location Code is selected.
• Sub Location (Optional) – Enter text to further describe the location of the asset. The Sub Location text is not edited.

The Inventory Tab

Each time a physical inventory is taken, this tab should be updated to ensure accurate reporting.

• Date (Required) – Enter the date inventory was taken, in any valid format.  The date entered should comply with the date settings for the system.
• Comment (Optional) – Enter comments describing any inventory observations.

The Comments Tab

The Comments tab rd notes related to the asset. These notes are stored in the Fixed Asset database and may be accessed to prepare tickler files or maintenance reports.

• Date (Required) – Enter the date of the comment, in any valid format.  The date entered should comply with the date settings for the system.
• Comment (Optional) – Enter any desired comments related to the asset.

The Status Tab

The Status tab tory of an asset’s status. The status of an asset is determined by the Effective Date of the asset. The current status is used to determine if depreciation should be calculated and if the asset has been added or disposed of during the period. This information affects General Ledger entries created by the Fixed Asset system.

If the asset is determined to be an addition or disposition, the prorate conventions are invoked to determine initial or final depreciation. Depreciation is calculated only for those assets with a status of 'A'.

• Effective Date (Required) – Enter the status effective date.
• Status (Required) – Enter a valid status code, or double-click the Status field in the grid to search.
• Description (Display) – The description of the status code will display automatically when a status is chosen.
• Change Date (Display) – The entry or change date of the status code will display automatically. 

The Cost Basis Tab

The Cost Basis tab displays the cost basis of the asset. The transactions may be entered in any currency and will be automatically converted to a default currency based on rates defined in the  currency conversion tables. Any number of transactions may be entered. 

The Cost Basis contains a sub-tab for each Fixed Asset Register defined.  Each sub-tab contains the transactions related to that register. The number of sub-tabs displayed depends on the setup of the Fixed Asset Register at each installation.

• Currency (Display Only) – This is the default currency displayed register.
• Cost Basis (Display Only) – This is the cost basis for the displayed register’s default currency.

Cost Basis  

Enter Cost Basis into the grid for each register. This can be done individually or by using the Update All Registers button. 

• Date (Required) – Enter the date of the transaction, in any valid format. The date entered should comply with the date settings for the system.
• Reference (Optional) – Enter a reference (e.g., PO, Invoice, etc.) for the transaction.
• Source Currency (Required) – Enter the source currency code for the transaction, or double-click the Source Currency field to search.
• Source Amount (Required) – Enter the transaction amount in the source currency.
• Conversion Rate (Display) – The rate column will display the conversion rate for the currency for the transaction date.
• Converted Amount (Display) – The converted amount column will display the amount calculated (source amount / or X conversion rate) as the converted amount.
• Update All Registers Button – Once entries for the current register have been completed, the user may choose to automatically populate the remaining registers with this same information. Click the Update All Registers button, then click Yes at the prompt.

The Cost Adjustment Tab

The Cost Adjustment tab adjusts the cost basis of the asset. Cost adjustments are typically made to record non-monetary adjustments to the asset’s costs basis. Examples include tax credits or current cost revaluations.

These adjustments will reduce the cost basis of the asset. To increase the cost basis, make entries on the Cost Basis tab.

As with the Cost Basis tab, entries on the Cost Adjustment tab are recorded by register and will be automatically converted to the reporting currency based on rates defined in the P2 IDEAS currency conversion tables. Any number of transactions may be entered.  Each sub-tab contains the transactions related to that register.

The sub-tab also displays:

• Currency (Display Only) – This is the default currency register.
• Cost Adjustment (Display Only) – This is the cost basis for the displayed register’s default currency.

Cost Basis  

Enter Cost Basis Adjustment transaction information into the grid for each register.

• Date (Required) – Enter the date of the transaction, in any valid format. The date entered should comply with the date settings for the system.
• Reference (Optional) – Enter a reference (e.g., PO, Invoice, etc.) for the transaction.
• Source Currency (Required) – Enter the source currency code for the transaction, or double-click the Source Currency field to search.
• Source Amount (Required) – Enter the transaction amount in the source currency.
• Conversion Rate (Display) – The rate column will display the conversion rate for the currency for the transaction date.
• Converted Amount (Display) – The converted amount column will display the amount calculated (source amount / or X conversion rate) as the converted amount.

The Depreciation Tab

The Depreciation tab is used to maintain the depreciation parameters for an asset and to review the depreciation recorded for that asset.

The Deprecation tab is also used to establish accumulated depreciation may be adjusted independently. 

• Depreciation (Display Only) – The Depreciation Type for this asset is determined from the property group.  Depreciation types may be Item Rate or Pooled Rate.
• Register (Required) – Enter a Register code, or double-click the Register field in the grid to search.

The Current Sub-Tab

The Current sub-tab on the Depreciation tab is used to specify the depreciation Method, Life, and Salvage Value for the asset. These parameters are specified for each register.

Life is used to designate the depreciable life of the asset for each register. If a life of zero or less is designated, then the asset will be skipped during the depreciation calculation for the register. Method is used to designate a depreciation method for each register for the asset.  If no Salvage Value is designated, then zero will be used for the salvage value during the depreciation calculation for the register.

The Current sub-tab also displays the calculated depreciation for Current Month, Year to Date, and Accumulated for the asset and register.

Depreciation is updated when the Depreciation process is run with the Finalize check box checked. Depreciation does not appear in the grid until this has been done.

• Method (Optional) – Enter the Method code or double-click the Method field in the grid to search.
• Life (Required) - Enter the life in years. Use decimals to represent partial years. For example, use 1.25 to represent 15 months.
• Salvage Value (Optional) – Enter the salvage value for the asset for the corresponding register.
• Current Month (Display Only) – This field displays the amount most recently calculated for the current month depreciation.
• Year to Date (Display Only) – This field displays the amount of depreciation calculated year to date based on finalized depreciation runs.
• Accumulated (Optional) – This field displays the amount of accumulated depreciation taken. Change the balance in this field to adjust the accumulated amount, if desired..

The Depreciation Sub-Tab – Detail

The Depreciation sub-tab allows users to specify an amount for the beginning accumulated depreciation. The Detail contains a sub-tab for each register.

• Beginning Balance (Optional) – Enter a beginning accumulated depreciation.  . 
• Year (Display Only) – This column displays the Year associated with the depreciation amount shown in the Amount column.
• Period (Display Only) – This column displays the Period associated with the Year and depreciation amount shown in the Amount column.
• Amount (Display Only) – This column displays the amount of depreciation calculated for the period and year.
  
  

The Depreciation Adjustment Tab

The Depreciation Adjustment tab allows users to adjust the accumulated depreciation.

• Date (Required) – Enter the date of the adjustment in any valid format.  The date entered should comply with the date settings for the system. 

• Reference (Optional) – Enter a reference (e.g. – PO, Invoice, etc.) for the adjustment. 

• Source Amount (Required) – Enter the adjustment amount in the source currency for the selected register. 

• Period (Display Only) – This field displays the period associated with the depreciation adjustment. 

• Year (Display Only) – This field displays the year associated with the depreciation adjustments. 

• Journalized (Display Only) – This field displays an indicator for journalization. This field will display Y if the adjustment has been journalized or an N if the adjustment has not been journalized. 

• Journal (Display Only) – This field displays the journal for the depreciation adjustment. 

The Book Value Tab 

The Book Value window is used to review the components of book value recorded for the asset.  No data may be changed in this window.  Make changes to the source field and review the results on the Book Value tab. 

• Register (Display) – This field displays the register codes for the asset.
• Currency (Display) – This field displays the default currency.
• Cost Basis– This field displays the cost basis amount for the asset and register.
• Adjustments (Display) – This field displays the cost basis adjustment amount for the asset and register.
• Book Value – This field displays the book value for the asset and register. This field is calculated as Basis less any adjustments.
• Accumulated Depreciation – This field displays the accumulated depreciation..
• Net Book Value – This field displays the Book Value less Accumulated Depreciation.
  
  

The Valuation Tab

The Valuation Tabental information for an asset. The information is collected for reporting purposes only. 

• Insurance (Optional) – Enter the insurance valuation of the asset.
• Replacement (Optional) – Enter the replacement value of the asset.
• Fair Market (Optional) – Enter the fair market value of the asset.
• Appraised (Optional) – Enter the appraised value of the asset.
  
  

The Authorization Tab

The Authorization tab provides references to documentation which authorized the acquisition of the asset.

• Type (Required) – Enter a Type or double-click the Type field in the grid to search.
• Reference (Optional) – Enter the Authorizing document reference. For example, for a PO type document, enter the PO number.
• Amount (Optional) – Enter the amount of the authorizing document.
  
  

The Documentation Tab

The Documentation tab provides references to the file location of documentation related to the asset. Files can refer to electronic files or to paper files.

• Type (Required) – Enter the Type, or double-click the Type field in the grid to search.
• Description (Optional) – Enter a free-form description of the document.
• File Name (Optional) – Enter a free-form description of the location of the document.
  
  

The Other Tab

The Other Tab Fields Definition to identify the information to capture.  Once captured the information is available for reporting and may be used within user defined depreciation calculations.

• Code (Required) - Double-click in the grid cell for a list of valid codes, or enter a valid code directly.  The code must be defined on the User Defined codes table.
• Description (Optional) – The description for the code will automatically display in this field.
• Value (Optional) – Enter a value for this code. The value is free-form text.

Depreciation Processing

Fixed Assets processes depreciations for a selected company, register The depreciation process first checks the master record. Qualified assets are then passed to the depreciation calculation. To qualify for depreciation an asset must:

• Have a status of "A" (on the selected effective date..
• Match the selected company.
• Have a Life greater than 0.
• Have a remaining un-depreciated balance greater than 0.
• Have a depreciation method defined for the selected register.
• Not have been previously disposed.

Depreciation rules are defined using the Depreciation Codes screen.

Once Finalize is selected, the asset records will be updated, and the depreciation journal entry is created. Otherwise the reports will be produced for review.

The depreciation journal entry process requires the following:

• The depreciation journal number (defined in the Register Codes a valid journal on the General Ledger Journal Definition Table..
• The journal is unlocked for the requested period.

During processing, the journal entry is built, debiting depreciation expense and crediting accumulated depreciation. The accounts used are those defined for each property group in the Group CodesFQA is constructed based on the default rules defined in the Register Codes table. table.

The basic depreciation entry generated by the system is:

• DR        Depreciation Expense
• CR       Accumulated Depreciation

However, there is considerable flexibility in how the final entry will be recorded. The following describes some of the options:

• The depreciation expense and accumulated depreciation. This is controlled by the Register Code parameters. The expense and liability are controlled separately.  Specification of the depreciation account is controlled by Property Group. the Register Code parameters. The expense and liability are controlled separately. 
• The standard proration of annual depreciation is 1/12 to each period.  However, the proration can be calculated through the depreciation logic. If only annual depreciation is calculated by the depreciation formula, Alternatively the monthly depreciation can be calculated in the formula which can be any amount (e.g., 1/13). which can be any amount (e.g., 1/13).

• of acquisition and disposition. The conventions supported by Fixed Assets include:
  • Take one half of the month's depreciation in the month of acquisition and disposal.
  • Take a half year depreciation in the year of acquisition and a half year in the year of disposal.
  • Take a full month depreciation in the month of acquisition and nothing in the month of disposal.
  • Next Month Convention:  Take full month depreciation in the month following acquisition and nothing in the month of acquisition or month of disposal.

These conventions can be automatically invoked through a parameter in the depreciation formula Other conventions are supported by the user-defined depreciation logic.

Depreciation Processing Screen

The Depreciationets is calculated and reported. The process creates a Depreciation Audit Report when it is executed. The Depreciation Audit Report can be generated as often as necessary as long as the depreciation process has not been finalized for the period. During finalization, a journal entry is created and further depreciation activity for the period is disabled. 

• Company (Required) – Enter the code for the company to be processed, or use the spyglass button to search. If only one company is defined, it will display automatically.
• Register (Required) – Enter the code for the register, or use the spyglass button to search. If only one register has been defined for the selected company, it will display automatically..
• Period (Required) – Enter the period number to be processed.
• Effective Date (Required) – Enter the effective date for the depreciation process.  The effective date is used by the depreciation process to determine the status of the asset(s) being processed. The effective date may be past, present, or future. Assets will be processed according to the status in effect as of the effective date entered.
• Finalize (Optional) – Check this box to finalize the depreciation process. This will update the fixed asset files and create journal entries. Leave this box unchecked to preview the depreciation reports.

Depreciation Reports

Two depreciation reports are prepared during depreciation processing: the Depreciation Audit Report and the Depreciation Journal Entry Report.

Depreciation Audit Report

The Depreciation Audit Report provides a listing of the calculations performed during the depreciation process and any exceptions encountered.

• Prorate Convention – The values in this column indicate the prorate convention to be applied to this asset. The following system codes may appear:
  • MM – Mid Month convention
  • HY – Half Year convention
• Acq/Disp – This column indicates that the asset has been acquired (A) or disposed (D) during the period. Assets acquired or disposed invoke the prorate convention and appear on the Acquisition or Disposal reports.
• Error – This column provides information regarding processing exceptions.  Messages that may appear in this column include:
  • No Remaining Balance
  • No Depreciation Method
  • No Life Specified
  • Group Depreciation  Amount Prorated
• Prepared by, Reviewed by and Approved by – These fields have been added to the footer of the report.

Depreciation Journal Entry Report

The Depreciation Journal Entry Report provides a list of the journal entries prepared for depreciation in the General Ledger.

Asset Import Screen

The Asset Import Screen is used to identify newly acquired assets booked to the general ledger during the current period.

• Ledger – If only one ledger is defined, it will display automatically. Otherwise, enter the desired ledger, or use the spyglass button to search.
• Company – If only one company is defined, it will display automatically. Otherwise, enter the desired company, or use the spyglass button to search.
• Trans Type – Enter the desired transaction type, or use the spyglass button to search.
• Period – Enter the desired period.
• Group Code – Enter the desired group code, or use the spyglass button to search.
• Register – Use the check boxes to select the desired registers, or use the All Registers check box to select all registers.
• Create WIP Reclass Journal – Use this check box to create a journal to record the transfer of costs from Work in Progress accounts to Capital accounts. The WIP Reclass journal and account information must be defined in the Register Codes screen.
• Selection – Select Capital Accounts to use the capital accounts defined by group in the setup parameters. Select Elements to enter the FQA selection criteria for capital account selection.

Click the Execute button on the toolbar to execute the process. Another Asset Import screen will 

• Asset – Enter a new asset number for the imported asset. If the FA Misc Code NEXT_IMPORT_ASSET_NO exists, the value in field 1 of the code will displayed in the Asset No field.
• Department – Enter the department for the asset, or use the spyglass button to search.
• Location – Enter the location for the asset, or use the spyglass button to search.
• Description – Enter a description for the asset.
• Accounting Period – Enter the accounting period for the import of the asset.
• Year – Enter the accounting year for the import of the asset.
• Grid – The grid will be populated with those items that were posted to the period and transaction code indicated in the main Asset Import screen. If Capital Accounts was selected, the asset account for the Property Group will be selected from the GL. If Elements was selected, the specific elements from the GL will be selected.

To import an asset, highlight the line item in the grid. If several lines combine to create a single asset, highlight all of the lines that are necessary. Click the Execute icon to the asset. If the Create WIP Reclass Journal option was checked, a journal will be created automatically to transfer the asset from the capital account.

Journalization

The Journalization screen is used to journalize Dispositions, Cost Adjustments, and Depreciation Adjustments, and Transfers.

The Journalization Screen

• Company – Enter the company to be journalized.
• Period – Enter the period to be journalized.
• Year – Enter the year to be journalized.
• Transaction Types – Use the check boxes to select the type(s) of transactions to process. One or more can be selected. The four options are:
  • Cost Adjustments
  • Depreciation Adjustments
  • Dispositions
  • Transfers
• Finalize – If this option is checked, the journals will be created in GL, and a report will be generated. If it is not checked, a report will be generated for verification, but journals will not be created in access access.

Asset Tracking Menu

The purpose of this menu is to provide departments outside of accounting with access to non-financial fixed asset information.

The available options in the Asset Tracking menu are:

• Asset Tracking Maintenance
• Asset Tracking Inquiry
• Asset Tracking Audit Trail Report
• Asset tracking Audit Trail Purge

Asset Tracking Maintenance

This screen is used for entry of non-financial information pertaining to Fixed Assets.

The Asset Tracking Maintenance screen consists of a header and a tab section. There are seven tabs in the tab section of the screen.

• Company – Enter the desired company, or use the spyglass button to search. If only one company is defined, it will display automatically.
• Asset No – Enter the Asset Number, or use the spyglass button to search.
• Description – Once the Asset Number is selected, the Description will display automatically. In a dual-language system, there will be two Description fields—one for the primary language and one for the secondary language.
• Long Description – Once the Asset Number is selected, the Long Description will display automatically. In a dual-language system, there will be two Long Description fields—one for the primary language and one for the secondary language.

Master Tab

The Master tab contains the most commonly used information pertaining to Fixed Assets and is displayed when the Asset Tracking Maintenance screen is selected. This tab contains both editable fields and display-only fields.

• Mfg/Vendor (Optional) – Enter the name of the manufacturer or supplier of this item.
• Serial No. (Optional) – Enter the serial number recorded on the asset by the manufacturer.
• Model/Part No (Optional) – Enter the manufacturer or supplier model number or part number.
• Tag No (Optional) – Enter the tag number assigned to this asset.
• Status/Status Date (Display Only) – The status of the asset and the date the status became effective will display.
• Location (Display Only) – The physical location of the asset displays in this field.
• Sub Location (Display Only) – More specific information regarding the physical location of the asset displays in this field.
• Custodian (Optional) – Enter the name of the individual responsible for the asset, or use the spyglass button to search.
• Department – This field displays the department code of the department responsible for the asset.
• Condition (Optional) – Enter the code to describe the condition of this asset, or use the spyglass button to search.
• Comments (Display Only) – The most recent comment from the Asset Master record displays in this field.

Location Tab

The Location tab is used to track the physical location and movement of the asset. Entries in this tab are optional, but if entries are made, Date and Location Code are required.

• Date (Required) – Enter the effective date of the entry in any valid format.  The date entered should comply with the date settings for the system.
• Location Code (Required) – Enter the desired location code or double-click the Location Code field in the grid to search.
• Description (Display) – When a Location Code is selected, the description of the location will display here.
• Sub Location (Optional) – Enter further information concerning the location of the asset.
  
  

Inventory Tab

The Inventory tab provides the history of the physical inventory of the asset. Entries in this tab are optional, but if entries are made, both fields are required to complete the entry.

• Date (Required) – Enter the effective date of the entry (generally the date of the physical inventory) in any valid format.  The date entered should comply with the date settings for the system.
• Comment (Required) – Enter a free-form comment describing any inventory observations or notes.

Comments Tab

The Comments tab provides the capability to record notes related to the asset. These notes are stored in the Fixed Asset database and may be accessed to prepare tickler files or maintenance reports. Entries in this tab on optional, but if entries are made, both fields are required to complete the entry.

• Date (Required) – Enter the effective date of the entry in any valid format.  The date entered should comply with the date settings for the system.
• Comment (Required) – Enter a free-form comment related to the asset.

Authorization Tab

The Authorization window provides references to documentation that authorized the acquisition of the asset. Entries in this tab are optional.

• Type (Optional) – Enter a code designating the authorizing document type, or double-click the Type field in the grid to search.
• Reference (Optional) – Enter the Authorizing document reference. For example, for a PO-type document, the reference may be the PO number.
• Amount (Optional) – Enter the amount of the authorizing document.

Documentation Tab

The Documentation tab provides references to the file location of documentation related to the asset.  Files can refer to electronic files or to paper files. Entries in this tab are optional, but if entries are made, Type is required.

• Type (Required) – Enter a type, or double-click the Type field in the grid to search.
• Description (Optional) – Enter a free-form description of the document.
• File Name (Optional) – Enter a free-form description of the location of the document. 

User Defined Info Tab

The User Defined Info tab is used to capture any other information related to an asset. The information to be captured is user-defined. Use User Defined Fields Definition to identify the information to capture. Once captured, the information is available for reporting and may be used within user-defined depreciation calculations. All entries on this tab are optional.

• User-Defined Prompt(s) – Field labels for the user-defined field(s) on this tab are defined in the Asset Maintenance screen. Values entered in these fields will vary by installation. 

Asset Tracking Inquiry

Use Asset Tracking Inquiry to inquire on any asset set up in the system. The Asset Tracking Inquiry screen is a read-only version of the Asset Tracking Maintenance screen.

The Asset Tracking Maintenance screen consists of a header and a tab section. There are seven tabs in the tab section of the screen.

• Company – Enter the desired company, or use the spyglass button to search. If only one company is defined, it will display automatically.
• Asset No – Enter the Asset Number, or use the spyglass button to search.
• Description – Once the Asset Number is selected, the Description will display automatically. In a dual-language system, there will be two Description fields—one for the primary language and one for the secondary language.
• Long Description – Once the Asset Number is selected, the Long Description will display automatically. In a dual-language system, there will be two Long Description fields—one for the primary language and one for the secondary language.

Master Tab

The Master tab contains the most commonly used information pertaining to Fixed Assets and is displayed when the Asset Tracking Maintenance screen is selected.

• Mfg/Vendor – Displays the name of the manufacturer or supplier of this item.
• Serial No. – Displays the serial number recorded on the asset by the manufacturer.
• Model/Part No – Displays the manufacturer or supplier model number or part number.
• Tag No – Displays the tag number assigned to this asset.
• Status/Status Date – The status of the asset and the date the status became effective will display.
• Location – The physical location of the asset displays in this field.
• Sub-Location – More specific information regarding the physical location of the asset displays in this field.
• Custodian – Displays the name of the individual responsible for the asset. Or, use the spyglass button to search.
• Department – This field displays the department code of the department responsible for the asset.
• Condition – Displays the code to describe the condition of this asset, or use the spyglass button to search.
• Comments – The most recent comment from the Asset Master record displays in this field.

Location Tab

The Location tab is used to track the physical location and movement of the asset. Entries in this tab are optional, so no information may display.

• Date – Displays the effective date of the entry in any valid format.  The date entered should comply with the date settings for the system.
• Location Code – Enter the desired location code or double-click the Location Code field in the grid to search.
• Description – When a Location Code is selected, the description of the location will display here.
• Sub Location – If further information concerning the location of the asset exists, it will display here.

Inventory Tab

The Inventory tab provides the history of the physical inventory of the asset. Entries in this tab are optional, so this tab may not contain any data.

Comments Tab

The Comments tab displays notes related to the asset. These notes are stored in the Fixed Asset database and may be accessed to prepare tickler files or maintenance reports. Entries in this tab are optional, so no data may display.

• Date – The effective date of the entry displays in this field.
• Comment – A free-form comment related to the asset displays here.

Authorization Tab

The Authorization window provides references to documentation that authorized the acquisition of the asset. Entries in this tab are optional, so there may be no data to display.

• Type – A code designating the authorizing document type displays in this field.
• Reference – The authorizing document reference displays. For example, for a PO-type document, the reference may be the PO number.
• Amount – The amount of the authorizing document will display here.

Documentation Tab

The Documentation tab provides references to the file location of documentation related to the asset. Files can refer to electronic files or to paper files. Entries in this tab are optional, so there may be no displayed data.

• Type – The document type displays in this column.
• Description – Any description entered for the document will display in this column.
• File Name (Optional) – The location of the document displays in this field.

User Defined Info Tab

The User Defined Info tab is used to capture any other information related to an asset. The information to be captured is user-defined. Use User Defined Fields Definition to identify the information to capture. Once captured, the information is available for reporting and may be used within user defined depreciation calculations. All entries on this tab are optional.

• User-Defined Prompt(s) – Field labels for the user-defined field(s) on this tab are defined in the Asset Maintenance screen. Values entered in these fields will vary by installation.

Asset Tracking Audit Trail

Use Asset Tracking Audit Trail to print an audit report of all activity performed on an asset.

• Print – Select to print a summary report or a change detail report. The default is Summary.
• User – By default, the system will process the audit trail report for all users. If desired, enter a specific user for the report.
• Company – Enter the company for the report, or use the spyglass button to search.
• Modified Date Options – Select one of three options:  One or Multiple, Range, or All. The default is All, which will provide a report of all activity dates. Selecting All will not activate any additional fields.
  • Date – This field is activated when One or Multiple is selected. Enter a date, then press Tab to add the selected date to the report.
  • Beginning Date – This field is activated when Range is selected. Enter a beginning date.
  • Ending Date – This field is activated when Range is selected. Enter an ending date.
• Asset ID Options – Select one of three options:  One or Multiple, Range, or All. The default is All, which will provide a report of all assets. Selecting All will not activate any additional fields.
  • Asset ID – This field is activated when One or Multiple is selected. Enter an Asset ID, then press Tab to add the selected asset ID to the report. Users may also use the spyglass button to search.
  • Beginning Asset ID – This field is activated when Range is selected. Enter the beginning asset ID.
  • Ending Asset ID – This field is activated when Range is selected. Enter the ending asset ID.
• Sort By – Select to sort by Asset ID, Asset Date, or Asset Description.
• Change Detail – This box is activated when Change Detail Report is selected. Users may choose to print the report two ways:  With New/Old Value or Without New/Old Value.
• Master Fields Tab – In addition to searching for specific dates, user ID(s) or asset ID(s), users may also search for changes to specific fields using the Master Fields tab. Use the spyglass button to search for the desired fields for the report. This tab is activated with selection of the Change Detail format.
• User Defined Fields Tab – Users may search for changes to the User Defined Fields, as well. Use the spyglass button to search for the desired fields for the report. This tab is activated with selection of the Change Detail forma

Asset Tracking Audit Trail Purge

As assets are entered and edited over time, asset audit trails become increasingly large. This may cause substantial degradation in system performance. Running the Asset Tracking Audit Trail Purge periodically will allow maintenance of the size of those files by clearing all files of asset audit trails.  

Using the Asset Tracking Audit Trail Purge will not affect the ability of the Fixed Assets module to retain the necessary data for generating reports.

Once an Audit Trail has been deleted, it cannot be retrieved on-line. Be sure to have a sufficient hard copy of the Audit trail or an adequate system backup before performing this function.

• User – By default, the system will process the audit trail report for all users. If desired, enter a specific user for the report.
• Company – Enter the company for the report, or use the spyglass button to search.
• Modified Date Options – Select one of three options:  One or Multiple, Range, or All. The default is All, which will provide a report of all activity dates. Selecting All will not activate any additional fields.
  • Date – This field is activated when One or Multiple is selected. Enter a date, then press Tab to add the selected date to the report.
  • Beginning Date – This field is activated when Range is selected. Enter a beginning date.
  • Ending Date – This field is activated when Range is selected. Enter an ending date.
• Asset ID Options – Select one of three options:  One or Multiple, Range, or All. The default is All, which will provide a report of all assets. Selecting All will not activate any additional fields.
  • Asset ID – This field is activated when One or Multiple is selected. Enter an Asset ID, then press Tab to add the selected asset ID to the purge. Users may also use the spyglass button to search.
  • Beginning Asset ID – This field is activated when Range is selected. Enter the beginning asset ID.
  • Ending Asset ID – This field actis activated ivates when Range is selected. Enter the ending asset ID.

Asset Disposal

The Asset Disposal menu contains the Asset Disposition screen, which is used to record information associated with the disposal of an asset.

Asset Disposition Screen

The Asset Disposition screen is used to record information associated with the disposal of an asset. The screen consists of a header and a tab section. The tab section contains two tabs.

• Company – Enter the desired company, or use the spyglass button to search.
• Disposition Number – To review an existing disposition, enter the disposition number, or use the spyglass button to search. For a new disposition, click the New button to assign a number to the new disposition.
• Description (Optional) – When a disposition number is selected, the description will automatically display. For new dispositions, enter a description of the disposal.
• Reference (Optional) – Enter a reference for the disposal, usually referring to disposal documents prepared by the person responsible for the disposal.

Request Tab

This screen is used to initiate the request for the disposal of an asset.

• Requestor (Optional) – Enter the name or initials of the person who requested the disposal.
• Request Date (Optional) – Enter the date the request was made.
• Attachment (Optional) – Enter the file location of any attachments which may exist, for example:  “c:\scanned disposal form request.doc”.  Click the spyglass to browse for an existing file attachment. The attachment can then be viewed by clicking the View button.
• Asset Number (Optional) – Enter the number of the asset for which the disposal request is being made, or use the spyglass button to search.

The grid at the bottom of the screen will populate with information entered on the Disposition tab.

• Asset – The asset number for each asset is displayed in this column.
• Serial Number – The serial number for each asset is displayed in this column.
• Tag – The tag number for each asset is displayed in this column.
• Description – The description for each asset is displayed in this column.
• Location – The physical location for each asset is displayed in this column.
• Date Acquired – The acquisition date for each asset is displayed in this column.
• Cost – The cost basis value for each asset is displayed in this column.
• Depreciation – The accumulated depreciation value for each asset is displayed in this column.
• Book Value – The book value for each asset is displayed in this column.
• Department – The department code for each asset is displayed in this column.

Disposition Tab

The Disposition Tab is used record information associated with the asset(s) to be disposed.

• Asset No (Required) – Enter the asset number for which the disposition request is being made.
• Disposition Type (Required) – Enter a disposition type or select from the drop-down list.
• Disposition Date (Required) – Enter the date of disposal.
• Party (Optional) – Enter the party to whom the asset was disposed.
• Income or Expense of Disposition (Required) – Enter the currency and value associated with the disposal(s) to be recorded as income or expense in the General Ledger. Currency is required. Either Income or Expense is required. Both can be entered, but the system does not require an entry in both fields.
  • Currency – Click the drop-down arrow to select a valid currency or enter the currency code directly.
  • Income – Enter a numeric value.
  • Expense – Enter a numeric value.
• Disposal is Complete (Optional) – Check this box when the disposition is ready to be journalized.
• Period (Required, Conditional) – If the Disposal is Complete box is checked, enter the period for the journalization.
• Year (Required, Conditional) – If the Disposal is Complete box is checked, enter the year for the journalization.
• Journalized (Display Only) – This field indicates that the particular asset is journalized. Each asset disposition in the request may be journalized independently.
• Comment (Optional) – Enter additional comments associated with the disposal(s).

Fixed Asset Reports Menu

Fixed Asset reports are accessed through the Reporting menu.

Seven standard Fixed Asset reports are provided.  These include:

• Fixed Asset Master Record
• Asset Additions
• Asset Retirements
• Assets by Status
• More Reports…
• Print Custom Reports
• Disposition Reports
• Asset Dispositions Report
• Open Dispositions Reports
• Asset Transfer Report
• Asset Disposition Report
• Detail Reports

Fixed Asset Master Record Report

The Fixed Asset Master Record Report provides an asset card detailing all available information associated with a specific asset. The report may be prepared for a single asset, several selected assets, or all assets within a company.

• Company – Enter the desired company for the report, or use the spyglass button to search. If only one company is defined, it will display automatically. 
• Asset Number – Enter the desired asset ID(s) for the report, or use the spyglass button to search. If an asset is added to the report in error, use the X button to make a correction.
• All Asset Numbers – By default, the system will generate the report for all assets. Entering Asset IDs in the Asset Number box will clear the check box.

Once all selections have been made, click the Print Preview button to generate the report in a Crystal Reports viewer.

Asset Additions Report

The Asset Additions report lists all assets that were placed in service in a given period. 

• Company – Enter the company for the report, or use the spyglass button to search. If only one company is defined, it will display automatically.
• Register ID – Enter the desired Register ID, or use the spyglass button to search. If only one register is defined for the selected company, it will display automatically.
• Modified Month Option – Select one of three options for the report:  One Month, Range of Months, or All.
  • Begin Month – This field activates when Range of Months is selected. Enter a beginning month.
  • End Month – This field activates when Range of Months is selected. Enter a beginning month.
  • Month – This field activates when One Month is selected. Enter the desired month.
  • Year – This field will activate for all three options. Enter the year for the report.

Once all selections have been made, click the Print Preview button to generate the report in a Crystal Reports viewer.

Assets Retirements Report

The Assets Retirements report lists all assets which were removed from service in a given period. 

• Company – Enter the company for the report, or use the spyglass button to search. If only one company is defined, it will display automatically.
• Register ID – Enter the desired Register ID, or use the spyglass button to search. If only one register is defined for the selected company, it will display automatically.
• Modified Month Option – Select one of three options for the report:  One Month, Range of Months, or All.
• Begin Month – This field activates when Range of Months is selected. Enter a beginning month.
• End Month – This field activates when Range of Months is selected. Enter a beginning month.
• Month – This field activates when One Month is selected. Enter the desired month.
• Year – This field will activate for all three options. Enter the year for the report.

Once all selections have been made, click the Print Preview button to generate the report in a Crystal Reports viewer.

Assets by Status Report

The Asset by Status report lists all assets for a selected status code.

• Company – Enter the company for the report, or use the spyglass button to search. If only one company is defined, it will display automatically.
• Register ID – Enter the desired Register ID, or use the spyglass button to search. If only one register is defined for the selected company, it will display automatically.
• Status Code – Enter the desired Status Code, or use the spyglass button to search.

Once all selections have been made, click the Print Preview button to generate the report in a Crystal Reports viewer. 

Depreciation Register Report

Use the Depreciation Register Report to review depreciations.

• Company – Enter the company for the report, or use the spyglass button to search. If only one company is defined, it will display automatically.
• Account – By default, the system will generate the report for All Accounts. Users may also enter one or more individual accounts, or use the spyglass button to search.
• Location – By default, the system will generate the report for All Location Ranges. Users may also enter one or more individual locations, or use the spyglass button to search.
• Depreciation Method – By default, the system will generate the report for All Depreciation Methods. Users may also enter one or more individual depreciation methods, or use the spyglass button to search.
• Register ID – Enter the desired Register ID, or use the spyglass button to search. If only one register is defined for the selected company, it will display automatically.

Once all selections have been made, click the Print Preview button to generate the report in a Crystal Reports viewer.

Reports – “More Reports” Options

The More Reports option provides three additional Asset Reports. To use this option, select More Reports from the Reporting menu.

• Report Name – Enter the desired report name, or use the binocular button to search.
• Copies – Enter the desired number of copies to print.

Once all selections have been made, click the Print Preview button to generate the report in a Crystal Reports viewer.

Disposition Reports

The Disposition Report sub-menu of the Reporting menu contains two report options:  Asset Dispositions Report and Open Dispositions Report.

Asset Dispositions Report

Use this report is to print a listing of disposed assets and information related to the disposal based on user-defined selection criteria.  

• Company – Enter the company for the report, or use the spyglass button to search. If only one company is defined, it will display automatically.
• Disposition Date Options – Select one of three options:  One or Multiple, Range, or All. Selecting All will add all disposition dates to the report, and no additional fields will activate.
  • Disposition Date – This field will activate when One or Multiple is selected. Enter the desired date(s) and press Tab to add the date to the report. If a date is added in error, use the X button to make a correction.
  • From Disposition Date – This field will activate when Range is selected. Enter the beginning disposition date.
  • To Disposition Date – This field will activate when Range is selected. Enter the ending disposition date.
• Disposition Number Options – Select one of three options:  One or Multiple, Range, or All. Selecting All will add all disposition numbers to the report, and no additional fields will activate.
  • Disposition Number – This field will activate when One or Multiple is selected. Enter the desired disposition number(s) and press Tab to add them to the report. If a number is added in error, use the X button to make a correction.
  • Beginning Disposition Number – This field will activate when Range is selected. Enter the desired beginning disposition number.
  • Ending Disposition Number – This field will activate when Range is selected. Enter the desired ending disposition number.

Once all selections have been made, click the Print Preview button to generate the report in a Crystal Reports viewer.

Open Dispositions Report

This report lists assets which were entered into the Asset Disposition screen, but the status of the asset has not yet been changed to reflect the disposal.

• Company – Enter the company for the report, or use the spyglass button to search. If only one company is defined, it will display automatically.

Once the desired company is selected, click the Print Preview button to generate the report in a Crystal Reports viewer.

Asset Transfers Report Screen

The Asset Transfers report lists all assets transferred between companies during a user-selected month and year.

• Register ID – Enter the desired Register ID, or use the spyglass button to search. If only one register is defined for the selected company, it will display automatically.
• Month – Enter the desired month for the report.
• Year – Enter the desired year for the report.

Once all selections have been made, click the Print Preview button to generate the report in a Crystal Reports viewer.

Depreciation Forecast Report Screen

The Depreciation Forecast report prints depreciation or net book values for a range of dates in the future, to be used for forecasting.

• Company – Enter the company for the report, or use the spyglass button to search. If only one company is defined, it will display automatically.
• Register – Enter the desired Register ID, or use the spyglass button to search. If only one register is defined for the selected company, it will display automatically.
• Effective Date – Enter the desired effective date for the depreciation or net book value forecast.
• Through Date – Enter the date through which the forecast should run.
• Depreciation Forecast or Net Book Value Forecast – Select the radio button next to the desired forecast report format.
• Active – Check this box to include active data in the report.
• Budgeted – Check this box to include budgeted amounts in the report.

Once all selections have been made, click the Print Preview button to generate the report in a Crystal Reports viewer.

FA Detail Reports Tool

The FA Detail Reports Tool allows the user to define customizable ad hoc reports against their Fixed Assets data. The report can include up to 10 data fields.  The fields can be placed in any order on the report, as determined by the user. Subtotals can be created on the first item in the Sort Order list. The report definitions can be saved for later use.

• Report – Select an option from the drop-down list.
• Selection Criteria – Use this area to select criteria for the report.
  • Register – Enter the desired Register ID, or use the drop-down list to make a selection. If only one register is defined for the selected company, it will display automatically.
  • Company – Enter the company for the report, or use the drop-down list to make a selection. If only one company is defined, it will display automatically.
  • Group – Enter the group, or use the drop-down list to make a selection.
  • Department – Enter the desired department, or use the drop-down list to make a selection.
  • Status – Enter the desired status, or use the drop-down list to make a selection
  • Start Effective Date – Enter a beginning effective date for the report.
  • End Effective Date – Enter an ending effective date for the report.
• Columns – Select the desired columns to add to the report by highlighting the desired column name and clicking the Add button.
• Sort By – Select the desired sort order for the report by highlighting the desired item and clicking the Add button.
• Options – Choose to Include SubTotals to the first item in the Sort Order box.

Once all selections have been made, click the Print Preview button to generate the report in a Crystal Reports viewer.

Codes Menu

The code tables are used to define the system parameters and validation tables for the Fixed Assets system.  The following code tables are used:

• Authorizing Documents 
• Condition Codes 
• Currency Codes
• Custodian Codes
• Department Codes 
• Documentation Codes 
• Depreciation Codes 
• Property Groups 
• Location Codes 
• Register Codes 
• Status Codes 
• Units of Production 
• User Defined Fields Definitions
• System Parameters 
• User Defined List Maintenance
• Disposition Type Maintenance

Authorizing Documents Codes

This table enables users to define the types of authorizing documents that may be referenced in the system. Examples of authorizing documents are Purchase Orders, AFEs, and Capital Expenditure Requests (CERs or CARs). The table is used to define the document codes.

• Code (Required) – Review an existing code by entering the desired code or using the spyglass button to search. To create a new code, enter an alphanumeric code in this field. The code can be up to 20 characters long.
• Description (Required) – When reviewing an existing code, the description will populate automatically. For new codes, enter a description of the code. The description can be up to 40 characters long.

Condition Codes

The Condition Codes table is used to define the allowable condition codes. Condition codes may be as simple as N-New and U-Used or more elaborate. Condition codes are not required to establish on Asset Master Record.

• Code (Required) – To review an existing code, enter the desired code, or use the spyglass button to search. For new codes, enter an alphanumeric code. Codes can be up to 20 characters long.
• Description (Required) – When reviewing an existing code, the description will populate automatically. For new codes, enter a description for the code. Descriptions can be up to 40 characters long.

Currency Codes Administration

Currency Codes Administration is used to define the currencies for use in Fixed Assets.

• Currency Code (Required) – To review an existing code, make a selection from the drop-down list. For new codes, enter the desired code. Codes can be up to 20 characters long.
• Description (Required) – For existing codes, the description will display automatically. For new codes, enter a description for the code. Descriptions can be up to 40 characters long.
• Precision (Required) – This field indicates how many decimal places will display for monetary amounts in the Fixed Assets module. The default is 2, but users may select values from 0 to 5.

Custodian Codes

The Custodian Codes table is used to define codes identifying who or what is assigned the responsibility for the asset(s).  

• Code (Required) – To review an existing code, enter the desired code, or use the spyglass button to search. For new codes, enter an alphanumeric code. Codes can be up to 20 characters long.
• Description (Required) – When reviewing an existing code, the description will populate automatically. For new codes, enter a description for the code. Descriptions can be up to 40 characters long.

Department Codes

The Department Codes table is used to validate Department entries on the Fixed Asset Master screen.  This table is required only if "FA" is selected in the System Parameters Validation field. If the P2 IDEAS GL module is installed and "IDEAS" is selected in the System Parameters screen, there is no need to complete this table.

• Code (Required) – To review an existing code, enter the desired code or use the spyglass button to search. For new codes, enter an alphanumeric code. Codes can be up to 20 characters long.
• Description (Required) – When reviewing an existing code, the description will populate automatically. For new codes, enter a description for the code. Descriptions can be up to 40 characters long.

Documentation Codes Table

This table enables users to define the types of documentation that may be referenced in the system. Examples of documentation codes are electronic file, paper file, manual, and blueprint.

• Code (Required) – To review an existing code, enter the desired code, or use the spyglass button to search. For new codes, enter an alphanumeric code. Codes can be up to 20 characters long.
• Description (Required) – When reviewing an existing code, the description will populate automatically. For new codes, enter a description for the code. Descriptions can be up to 40 characters long.

Depreciation Code Tables

The Depreciation Codes table is used to define depreciation rules and to assign a code to the rule. The rules are used to perform calculations and return the results to the Fixed Assets system. The Fixed Assets system uses these results to update the Asset Master Record and to journalize depreciation.

• Code (Required) – To review an existing code, enter the desired code, or use the spyglass button to search. For new codes, enter an alphanumeric code. Codes can be up to 20 characters long.
• Description (Required) – When reviewing an existing code, the description will populate automatically. For new codes, enter a description for the code. Descriptions can be up to 40 characters long.
• Database (Required) – Use the drop-down list to make a selection among the available P2 IDEAS databases. This will tell the system which database to use for the calculation.
• Table (Required) – Use the drop-down list to make a selection among the available tables within the selected P2 IDEAS database. This will tell the system which table to use for the calculation.
• Field (Required) – Use the drop-down list to make a selection among the fields listed in the selected database and table combination. This will tell the system the field to use for the calculation. 
• Calculation (Required) - Enter the calculation logic for the depreciation formula. See the discussion of formulas below to learn more about constructing formulas.

Depreciation Codes Calculation Tips Button

Click the Calculation Tips button to obtain text and information related to building depreciation formulas. Text from the Depreciation Calculation Tips window can be copied and pasted directly into the formula, if desired.

Depreciation Codes Compile Button

To begin using a depreciation formula, the formula must first be compiled. To compile the formula, click the Compile button in the Depreciation Codes window. If the formula is correct, the compile status will change from UNCOMPILED to COMPILE SUCCESSFUL. If the formula contains errors, a text box will appear describing the error (generally the text will state “Incorrect syntax near……”).

Developing Depreciation Rules

A depreciation formula consists of one or more lines of code that, when executed, return a value. The code that defines a formula can consist of almost any logic. Whatever logic is used to calculate the value for a formula, the final result must be set to a variable called @ANNUAL_DEPR. For example, a simple formula might consist of the logic: @@ANNUAL_DEPR = 0.  This is a formula for non-depreciating assets.

 The total amount to be depreciated is provided to the depreciation formula in a variable called @REMAINING_AMT. @REMAINING_AMT is calculated from the asset record as follows:

Cost of the Asset

       Less Cost Adjustments for the Register

       Less Accumulated Depreciation for the Register

       Less Salvage Value of the Asset for the Register

Other variables provided are called @LIFE, @SALVAGE and @COST_BASIS.

Cost Basis is calculated as:

Cost of the Asset

       Less Adjustments for the Register

       Less Salvage.Value for the Register

In addition to these variables any of the fields shown in the Field text box may be referenced in a formula.

Additional formula options are monthly depreciation and prorate convention. Generally P2 IDEAS Fixed Assets will calculate monthly depreciation as one twelfth of the @ANNUAL_DEPR amount provided by the formula. Override this amount by specifying a MO.DEPR (Monthly Depreciation) amount. If @MO_DEPR is greater than zero, P2 IDEAS Fixed Assets will use @MO_DEPR instead of calculating it from the annual depreciation.

Prorate conventions can be automatically invoked through a parameter in the depreciation formula. The convention is invoked by including the statement "@CONVENTION = xx" where xx is MM, HY, FM, NM or NA for one of the conventions described below. The default is MM.  The supported conventions are:

• Mid-Month Convention:  Take one-half of the month's depreciation in the month of acquisition and disposal (MM).
• Half Year Convention:  Take a half year depreciation in the year of acquisition and a half year in the year of disposal (HY). A full year’s depreciation is taken in the intervening years.  In the year of acquisition or of disposal, depreciation expense is prorated over the months in service during these years.

Note:  The Half Year Convention determines the current processing year by referencing the Current Year parameter stored in the FA Constants Table.  This parameter must be maintained in order for the Half Year Convention to be properly calculated.

• Full Month Convention:  Take a full month depreciation in the month of acquisition and nothing in the month of disposal (FM).
• Next Month Convention:  Take a full month depreciation following acquisition, but take nothing in the month of acquisition or the month of disposal (NM).
• No Convention:  Do not invoke any prorate convention on acquisition or disposal (NA).

Depreciation Formula Examples

The following example illustrates the use of the depreciation formula:

Example 1 - Straight Line Depreciation

            Select @ANNUAL_DEPR = @COST_BASIS/@LIFE

Example 2 - Double Declining Balance Depreciation

            Select RATE = 1 / @LIFE * 2 

            Select @REMAINING_AMT = @REMAINING_AMT + @SALVAGE

            Select @ANNUAL_DEPR = RATE * @REMAINING_AMT

In Example 2, the standard declining balance rate (1/life in years times the percentage, in this case 200%) is first calculated. Because salvage value is not considered in DDB depreciation but @REMAINING_AMT has been reduced by salvage, it is added back. Finally, the depreciation is calculated.

Example 3 - Declining Balance Convert to Straight Line

            Select RATE = 1 / @LIFE * 2 

            Select @REMAINING_AMT = @REMAINING_AMT + @SALVAGE

            Select DDB_DEPR = RATE * @REMAINING_AMT

            Select SL_DEPR = @COST_BASIS/LIFE

            IF DDB_DEPR < SL_DEPR THEN

                        Select @ANNUAL_DEPR = SL_DEPR

            IF DDB_DEPR >= SL_DEPR THEN

                        Select @ANNUAL_DEPR = DDB_DEPR

Because declining-balance depreciation will never completely depreciate an asset, some taxing authorities allow conversion from DB to straight line. The above formula calculates DB and SL, then compares the two and uses the greater amount.

Depreciation Edits

After a formula has calculated depreciation, the result is reviewed by Fixed Assets. The following is performed. If the depreciation is less than zero, then zero is used for depreciation. If the monthly depreciation exceeds the remaining balance, then the remaining balance will be used. If the asset is acquired or disposed during the period, then prorate conventions are applied as described above.

Group Depreciation

This method determines depreciation by applying a single rate to a group of assets. The rate is determined in advanced and is applied without consideration of the life span, residual value, or accumulated depreciation of the individual assets within the Composite Asset group. Upon the addition or retirement of a Composite Asset, no prorate convention is applied.

Note:  To specify Group Depreciation, choose “Pooled Rate” as the Depreciation Type on the Property Group Codes screen. Associate this Property Group with all individual assets to be included in the pool. To exclude an individual asset from the pool, check the Exclude from Pool box on the Depreciation tab of the Master screen.

Examples

The Composite Rate for Asset Group “A” has been determined to be 10%. Depreciation is calculated as follows in the descriptions below:

Normal Depreciation

Depreciation is 10% of the item cost regardless of item accumulated depreciation or life. Items within the group flagged for exclusion are ignored.

Excess Depreciation

The current depreciation exceeds the total Asset Group cost. Current depreciation is prorated to each included asset within the group.

Fully Depreciated

The accumulated group depreciation equals the total Asset Group cost. Current depreciation is zero for the group and all assets within the group.

Accounting for Composite Rate Depreciation

Allocation of depreciation expense calculated using Composite Rate depreciation is based on information associated with each item within the group. Generally this would be asset department/cost center or location information.

Allocation of Depreciation Expense

Depreciation expense is allocated based on the cost center to which the individual item is assigned.

The following Journal Entry results from this allocation:

Property Group Codes

This screen is used to define Property Groups for Fixed Assets. Fixed Asset Property Groups are similar assets which are grouped together for reporting, accounting, and depreciation purposes. Property groups may be such things as Vehicles, Computers, or Office Equipment. 

P2 IDEAS Fixed Assets supports two types of groups:  Item Rate groups and Pooled Rate groups. Assets in an Item Rate group are depreciated individually. Assets in a Pooled Rate group are depreciated as a group. For more information on Pooled Rate depreciation, see the Depreciation Code topic above.

The depreciation journal entry is summarized by property group. For this reason, the depreciation accounts are specified on this screen.

• Code (Required) – To review an existing code, enter the desired code, or use the spyglass button to search. For new codes, enter an alphanumeric code. Codes can be up to 20 characters long.
• Description (Required) – When you are reviewing an existing code, the description will populate automatically. For new codes, enter a description for the code. Descriptions can be up to 40 characters long.
• Depreciation Type (Required) – Select the type of depreciation from the drop-down list for this property group.
• Depreciation Method (Optional) – This field activates for pooled rate depreciation only. Chose the depreciation method to use for this property group.
• Asset Account – Enter the GL account used to record asset additions and retirements for this property group.
• Depreciation Expense – Enter the GL account used to record depreciation expenses for this property group.
• Accumulated Depreciation – Enter the GL account used to record the accumulated depreciation for this property group.

Location Codes

The Location Code is used to describe the physical location of an asset. The Location Codes table is used to validate the location codes entered on the Asset Master Record. In addition to the Location Code, the Master record also provides for a sub-location description. The sub-location text is not edited.

For reporting purposes, put intelligence in the Location Code. A strategy for developing location codes might be to divide the code into two parts. The first part would describe the particular location, for example R123 for Room 123.

In addition, summary information may be desired for reporting. Accordingly, a second part of the code may be used to describe broader locations for example, FLDC as an abbreviation for the state of Florida, Dade County.  

The resulting code FLDC.R123 would indicate that the asset is located in room 123 of the Dade County, Florida, office. By use of this strategy, reports can be generated for all assets within a state or county, as well as identifying the physical location for inventory purposes.

• Code (Required) – To review an existing code, enter the desired code, or use the spyglass button to search. For new codes, enter an alphanumeric code. Codes can be up to 20 characters long.
• Description (Required) – When you are reviewing an existing code, the description will populate automatically. For new codes, enter a description for the code. Descriptions can be up to 40 characters long.

Register Codes

The Register Codes table is used to define a Register to P2 IDEAS Fixed Assets.  A Register is a set of asset books.  Examples of asset register are:

1. Financial Register:  Asset values and depreciation for financial accounting purposes.
2. Federal Tax:  Asset values and depreciation for Federal tax purposes.
3. Foreign Tax:  Asset values and depreciation for Foreign tax purposes.
4. State Tax:  Asset values and depreciation for State tax purposes.

An unlimited number of registers can be defined. Any number of the defined registers may be associated with each asset.

Part of the definition of a register is to define the Journal to be used to record depreciation, changes in capital (additions and retirements), and transfers, as well as cost or depreciation adjustments. The journals are defined in GL-Journal Entry Definition. When depreciation is calculated, it will be recorded in the specified Journal. 

The Register Codes window is also used to identify how the full GL account should be constructed. The entries under the "Ledger Elements" heading are the elements associated with the ledger referenced by the journal entered in the top of the window.

• Register ID (Required) – Enter a code for the Register, or use the spyglass button to search for an existing register.
• Description (Required) – Enter a free-form description for the code. Descriptions are available in both the primary and secondary language. If a description exists, it will display automatically when reviewing existing registers.
• Default Currency (Optional) – Enter a valid currency code to specify the default currency for this register, or use the spyglass button to search.
• Depreciation Journal (Optional) – Use the spyglass button to choose the necessary journal.
• Disposal Journal (Optional) – Use the spyglass button to choose the necessary journal.
• Cost Basis Adj Journal (Optional) – Use the spyglass button to choose the necessary journal.
• Depreciation Adj Journal (Optional) – Use the spyglass button to choose the necessary journal.
• Intercompany xfer Journal (Optional) – Use the spyglass button to choose the necessary journal.
• WIP Reclass Journal (Optional) – Use the spyglass button to choose the necessary journal.
• Ledger (Display only) – This field displays the ledger associated with the register.
• Company (Required) – Use the spyglass button to choose one or more companies for which this register is valid.
• Journalize dispositions on this register (Optional) – Check this box to prompt the system to journalize dispositions for this register.
• Journalize adjustments on this register (Optional) – Check this box to prompt the system to journalize Cost Basis Adjustments and Depreciation Adjustments for this register.
• Intercompany Transfer Journalization (Optional) – Check this box to prompt the system to journalize Intercompany Transfers for this register.
• Journal WIP Reclass on this register (Optional) – Check this box to prompt the system to journalize WIP Reclass for this register.

At the bottom of the Register Codes window is a row of tabs:  Depreciation, Cost Adjustment, Disposition, Intercompany, and WIP Reclass. See the charts below for an example of how the fields in these grids might be populated. A description of the fields and the options available for them is listed as well.

• Depreciation Tab – Make entries in the grid, as described below.
  • Depreciation Account Definition (Required) – Enter one of the following words: COMPANY, DEPARTMENT, ACCOUNT, or enter a literal value enclosed in quotes (for example “000”) or enter a formula reference. See the information below related to creating formulas.
  • Accumulated Depreciation (Required) – Enter one of the following words: COMPANY, DEPARTMENT, ACCOUNT, enter a literal value enclosed in quotes (for example “000”), or enter a formula reference. See the information below related to creating formulas.
• Cost Adjustment Tab – Make entries in the grid, as described below.
  • Cost Basis Adjustment Offset – Enter the following word: COMPANY, enter a literal value enclosed in quotes (for example “000”), or enter a formula reference. See the information below related to creating formulas.
• Disposition Tab – Make entries in the grid, as described below.
  • Disposition Proceeds – Enter the following word: COMPANY, enter a literal value enclosed in quotes (for example “000”), or enter a formula reference. See the information below related to creating formulas.
  • Disposition Gain – Enter the following word: COMPANY, enter a literal value enclosed in quotes (for example “000”), or enter a formula reference. See the information below related to creating formulas.
  • Disposition Loss – Enter the following word: COMPANY, enter a literal value enclosed in quotes (for example “000”), or enter a formula reference. See the information below related to creating formulas.
• Intercompany Tab – Make entries in the grid, as described below.
  • Source Intercompany – Enter the following word: COMPANY, enter a literal value enclosed in quotes (for example “000”), or enter a formula reference. See the information below related to creating formulas.
  • Receiving Intercompany – Enter the following word: COMPANY, enter a literal value enclosed in quotes (for example “000”), or enter a formula reference. See the information below related to creating formulas.
• WIP Reclass Tab – Make entries in the grid, as described below.
  • WIP Reclass – Enter the following word: COMPANY, enter a literal value enclosed in quotes (for example “000”), or enter a formula reference. See the information below related to creating formulas.

Status Codes

The status codes window is used to define asset status codes. P2 IDEAS Fixed Assets looks for two status codes: A - Active and B - Budgeted. Only Active assets are depreciated. Budgeted assets are ignored for depreciation and accounting purposes. Define additional codes, such as R - Retired, X-Scraped, S-Sold and so on, as business needs dictate. Any code other than A or B will be treated as a disposition. The first time the code appears, it will be depreciated as a disposition. The prorate convention logic will take effect for the month’s depreciation. Subsequently, depreciation will not be calculated further for the asset.

• Code (Required) – To review an existing code, enter the desired code, or use the spyglass button to search. For new codes, enter an alphanumeric code. Codes can be up to 20 characters long.
• Description (Required) – When reviewing an existing code, the description will populate automatically. For new codes, enter a description for the code. Descriptions can be up to 40 characters long.

Units of Production

The Units of Production table is used to store units produced for Units of Production depreciation.  The table is referenced by depreciation logic to calculate the Units of Production depreciation. To calculate Units of Production depreciation, the following steps should be taken:

1. Define a UoP code and complete the life field with expected life of the asset in terms of units of production.
2. Define a depreciation method (using the Depreciation Code screen) and create logic which reads the values from a specific UoP code and calculates the amount depreciated.
3. Update the table each month for the current amount produced.
   
   

• Code (Required) – To review an existing code, enter the desired code, or use the spyglass button to search. For new codes, enter an alphanumeric code. Codes can be up to 20 characters long.
• Description (Required) – When reviewing an existing code, the description will populate automatically. For new codes, enter a description for the code. Descriptions can be up to 40 characters long.
• Life (Required) – Enter a value for the expected life of the asset to be used in the UoP calculation.
• Current Month (Required) – Enter a value for the current month usage to be used in the UoP calculation.

User Defined Fields Definition

This table is used to name fields which will then be available in the Other tab in the Asset Master Record. Any input is acceptable. This feature enables users to track any information which may be relevant to a fixed asset but which is not already available in the Fixed Assets system.

• Code (Required) – To review an existing code, enter the desired code, or use the spyglass button to search. For new codes, enter an alphanumeric code. Codes can be up to 20 characters long.
• Description (Required) – When reviewing an existing code, the description will populate automatically. For new codes, enter a description for the code. Descriptions can be up to 40 characters long.

System Parameters

The System Parameters window captures global parameters for Fixed Assets processing.  The effect of the significant parameters is outlined below. 

• The Default Register is used to determine which data will display on the Asset Master Record display fields for register dependent fields.
• The Validation field determines where FA will look to validate and prompt for the department field.  By entering “IDEAS” in this field it will validate against Chartmaster.  However, if you enter “FA” here it will validate against the department table you build within Fixed Assets.
• Department Element is the name for the FQA element to validate the Fixed Assets department entries against.  This is only relevant if “IDEAS” is selected for Validation.
• Account Element is used during the Journalization process to determine which distribution lines match the proper group account.

• Company (Required) – Enter the desired company, or use the spyglass button to search.
• Default Register (Required) – Enter the default register, or use the spyglass button to search.

Note:  When creating the System Parameter Record, it is necessary to first leave the Default Register field blank, as no registers will have been defined for the Company.

• Default Currency (Required) – Enter the desired currency, or use the spyglass button to search.
• Validation (Required) – Use the drop-down list to select the validation for use in validating department codes. Note that using FA as the Validation will require that Department codes be created in the Fixed Assets module.
• Department Element (Required) – If P2 IDEAS was selected in the validation field, enter the P2 IDEAS element name for the Department Element (for example: Cost Center).
• Account Element (Required) – Enter a number (1-5) to indicate which element of the FQA is the Natural account element. This is used with P2 IDEAS validation.
• Current Year (Required) – Enter the four-digit year. This is the year for which depreciation history is recorded.
• Fiscal Year Begins (Required) – Enter the start date for the fiscal year.
• Fiscal Year Ends (Required) – Enter the end date for the fiscal year.

User Defined List Maintenance

The User Defined List Maintenance screen allows a user to define a list of items to be used for validation in user defined fields (created in the Utilities-User Defined Field Definitions screen).

• List – Use the drop-down arrow to select an existing user-defined list or enter a new code to create a new list.
• Name – Enter a name to describe the list.
• Item – Enter each item to be included in the list.
• Description – Enter a description for each item entered.

Disposition Type Maintenance

The Disposition Type Maintenance screen is used to define codes which describe the different methods of disposal.  

• Code (Required) – To review an existing code, enter the desired code, or use the spyglass button to search. For new codes, enter an alphanumeric code. Codes can be up to 20 characters long.
• Description (Required) – When reviewing an existing code, the description will populate automatically. For new codes, enter a description for the code. Descriptions can be up to 40 characters long.

Fixed Assets Utilities Menu

The Fixed Assets Utilities menu contains screens which facilitate fixed asset module system maintenance. There are four utilities in the Utilities menu.

• Year End Processing
• User Defined Field Maintenance
• Next Disposition Control
• FA Misc

Year End Process

The Year End Process screen is used once a year to set parameters within the Fixed Assets  module which identify the current year and to clear YTD depreciation amounts.

• Company – Enter the company for which to run the year end process, or use the spyglass button to search. To run the year-end process for all companies, select the All Companies check box.
• Register – Enter the register for which to run the year-end process, or use the spyglass button to search. To run the process for all registers associated with the selected company, select the All Registers check box.
• Update Current Year Parameter – Check this box to update the current year in System Parameters.
• Fiscal Year Begins – Enter the beginning date of the fiscal year.
• Fiscal Year Ends – Enter the ending date of the fiscal year. 

User Defined Field Maintenance

The User Defined Field Maintenance screen is used to add new user defined tabs and fields to the Asset Tracking Maintenance screen.

• Screen Name – ASSETTRACKING will display by default.
• Description – The description will populate automatically.
• Tabs Tab – Enter the name for the desired tab. The Tab No. field will populate automatically.
• Fields Tab – Select a Tab No from the drop-down and make entries in the grid for all fields that should exist on the tab selected.
• Name – Enter a name for the field.
• Data Type – Enter the desired data type for the field. Examples are VARCHAR and DATETIME.
• List Name – Enter the desired list name for items that should appear in a list.
• Required – Enter YES to make the field required or NO to make the field optional.
• Log Changes – Enter YES to prompt the system to log changes made to the field. This field will then appear in the audit trail report. Enter NO to exclude the field from the change log. 

Next Disposition Control

The Next Disposition Control screen allows a user to define any numeric integer to become the next disposition number.  The next disposition number is used when New is selected in the disposition number field of the Asset Disposal-Asset Disposition screen. When New is selected, the Next Disposition No. will update automatically.

• Company – Enter the company for which to run the year end process, or use the spyglass button to search. To run the year-end process for all companies, select the All Companies check box.
• Next Disposition No. – Enter a number to use for the next disposition number. When the New button is clicked in the Asset Disposition screen, the system will use the Next Disposition No. to assign a Disposition Number, and the Next Disposition No. value will increase by 1.

FA Miscellaneous

The FA Miscellaneous Setup utility is used during the installation process for the Fixed Assets module.  Contact P2 IDEAS support or your P2 IDEAS consultant for more information.