Fixed Assets Fixed Assets
The accounting system offers the Fixed Asset module to track depreciation of the company's fixed assets. This module automatically creates depreciation schedules and monthly transactions Batches to be posted to the General Ledger. Select Fixed Assets from the General Ledger menu and the following screen will come into view.
Each fixed asset will be listed. The tabs are for sorting either by Asset ID or by Description. The fields display the Asset ID, Description, and Depreciation Type.
Add or Change (button)
These buttons allow the user to add or modify a Fixed Asset. Press the Add button to add a new Fixed Asset or highlight a Fixed Asset and press the Change button to modify an existing Fixed Asset. For more information, see Add or Change a Fixed Asset.
Delete (button)
Press the Delete button to permanently delete an existing Fixed Asset. See Delete Button
Create Depreciation Transaction Batch (button)
Press the Create Depreciation Transaction Batch button to create a Batch of transactions to be posted in the General Ledger Transactions module. If the Create Depreciation Transaction Batch button is pressed, the following screen comes into view.
Highlight the desired Transaction Month and all Assets with a G/L Account charge destination will appear on the right.
Fiscal Period
Select the Fiscal Period for which the transaction should be created. Press the lookup button to select the Fiscal Period from a list of Fiscal Periods
Batch
Select the Batch Number where the Depreciation Transaction should be place. Press the lookup button to select the Batch from a list of Batches.
Date
Enter the transaction date or press the lookup button and select the date from the Calendar.
Summarize depreciation expense transactions (check box)
If this box is checked, the a batch consisting of multiple depreciation entries will have just one expense transaction, instead of one expense transaction for each asset being depreciated.
Proceed (button)
Press the Proceed button and the following screen comes into view.
Close (button)
Press the Close button to return to the main screen.
Help (button)
See How to Use Help
The process of adding or changing a fixed asset is identical to the process for entering a piece of equipment in Equipment Setup.