Discussion

Difference between revisions of "Fixed Asset Master"

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Notes:
 
Notes:
  
−
* [[Budget Center]] should be on '''ACTIVE''' status when using it upon creating or editing a record.
+
*Asset Number is a unique field, it cannot be edited once the user proceed with its creation.
 +
*[[Budget Center]] should be on '''ACTIVE''' status when using it upon creating or editing a record.
 
**This can be seen in [[Budget Center]] Maintenance Module.
 
**This can be seen in [[Budget Center]] Maintenance Module.
 
**[[Budget Center]] is a requirement when creating a [[Fixed Asset Master]] record.
 
**[[Budget Center]] is a requirement when creating a [[Fixed Asset Master]] record.
−
* Asset Class should be on '''ACTIVE''' status when using it upon creating or editing a record.
+
*Asset Class should be on '''ACTIVE''' status when using it upon creating or editing a record.
−
** This can be seen in [[Fixed Asset Class]] Maintenance Module.
+
**This can be seen in [[Fixed Asset Class]] Maintenance Module.
−
** [[Fixed Asset Class|Asset Class]] is a requirement when creating a [[Fixed Asset Master]] record.
+
**[[Fixed Asset Class|Asset Class]] is a requirement when creating a [[Fixed Asset Master]] record.
  
−
* All fields and tabs should be filled up since those details are needed on simulating a [[Depreciation Run]]
+
*All fields and tabs should be filled up since those details are needed on simulating a [[Depreciation Run]]
−
* For detailed instructions on how to create a Fixed Asset Master, the user can visit the Fixed Asset Master Job Aid which can be found [[Fixed Asset Master Aids|here]].
+
*For detailed instructions on how to create a Fixed Asset Master, the user can visit the Fixed Asset Master Job Aid which can be found [[Fixed Asset Master Aids|here]].
  
 +
[[File:Adding Fixed Asset Master(Depreciation).png|center|thumb|868x868px|Adding Fixed Asset Master(Depreciation)]]
 +
{| class="wikitable"
 +
!Field
 +
!Description
 +
!Expected Values
 +
|-
 +
|1.Remaining Useful Life(Months)
 +
|•Remaining Lifespan of a Fixed Asset
 +
|•Number
 +
|-
 +
|2.Original Useful Life(Months)
 +
|•Original Lifespan of a Fixed Asset
 +
|•Number
 +
|-
 +
|3.Depreciation Month Start
 +
|•Date when will the Fixed Asset will start depreciating.
 +
|•Date
 +
|-
 +
|4.Capitalized Cost
 +
|•Expense that is added to the cost basis of a fixed asset
 +
|•Number/Amount
 +
|-
 +
|5.Purchase Value
 +
|•Purchase Price of the said Asset
 +
|•Number/Amount
 +
|-
 +
|6.Book Value
 +
|•An asset's original cost, less any accumulated depreciation and impairment charges that have been subsequently incurred.
 +
|•Number/Amount
 +
|-
 +
|7.Salvage Value
 +
|•The estimated book value of an asset after depreciation is complete.
 +
|•Number/Amount
 +
|}Notes:
 +
 +
* Original Useful Life(Months), Depreciation Month(Start), Capitalized Cost, Purchase Value, and Book Value cannot be edited once the Fixed Asset has been created.
 +
 +
<br />
 +
[[File:Adding Fixed Asset Master(Accounting Details).png|center|thumb|868x868px|Adding Fixed Asset Master(Accounting Details)]]
 +
{| class="wikitable"
 +
!Field
 +
!Description
 +
!Expected Values
 +
|-
 +
|1.GL Account(Asset)
 +
|•Assigned General Ledger Account for Asset
 +
|•Account List under Chart of Account Maintenance Module
 +
|-
 +
|2.GL Account(Acc Dep)
 +
|•Assigned General Ledger Account for Accumulate Depreciation
 +
|•Account List under Chart of Account Maintenance Module
 +
|-
 +
|3.GL Account(Depreciation Expense)
 +
|•Assigned General Ledger Account for Depreciation Expense
 +
|•Account List under Chart of Account Maintenance Module
 +
|}
 
=====Editing Fixed Asset Master=====
 
=====Editing Fixed Asset Master=====
−
[[File:Editing Fixed Asset Master.png|center|thumb|868x868px|Editing Fixed Asset Master]]
+
[[File:Editing Fixed Asset Master(Asset Details).png|center|thumb|868x868px|Editing Fixed Asset Master(Asset Details)]]
 +
<br />
 
{| class="wikitable"
 
{| class="wikitable"
 
!Field
 
!Field
Line 128: Line 186:
 
|}Notes:
 
|}Notes:
  
−
* [[Budget Center]] should be on '''ACTIVE''' status when using it upon creating or editing a record.
+
*[[Budget Center]] should be on '''ACTIVE''' status when using it upon creating or editing a record.
 
**This can be seen in [[Budget Center]] Maintenance Module.
 
**This can be seen in [[Budget Center]] Maintenance Module.
 
**[[Budget Center]] is a requirement when creating a [[Fixed Asset Master]] record.
 
**[[Budget Center]] is a requirement when creating a [[Fixed Asset Master]] record.
−
* Asset Class should be on '''ACTIVE''' status when using it upon creating or editing a record.
+
*Asset Class should be on '''ACTIVE''' status when using it upon creating or editing a record.
−
** This can be seen in [[Fixed Asset Class]] Maintenance Module.
+
**This can be seen in [[Fixed Asset Class]] Maintenance Module.
 +
 
 +
*All fields and tabs should be filled up since those details are needed on simulating a [[Depreciation Run]].
 +
**Depreciation tab cannot be edited if the user already perform a [[Depreciation Run]] or has a present transaction.
 +
*For detailed instructions on how to edit a Fixed Asset Master, the user can visit the Fixed Asset Master Job Aid which can be found [[Fixed Asset Master Aids|here]].
 +
 
 +
<br />
 +
[[File:Editing Fixed Asset Master(Depreciation).png|center|thumb|868x868px|Editing Fixed Asset Master(Depreciation)]]
 +
{| class="wikitable"
 +
!Field
 +
!Description
 +
!Expected Values
 +
|-
 +
|1.Remaining Useful Life(Months)
 +
|•Remaining Lifespan of a Fixed Asset
 +
|•Number
 +
|-
 +
|2.Salvage Value
 +
|•The estimated book value of an asset after depreciation is complete.
 +
|•Number/Amount
 +
|}Notes:
  
−
* All fields and tabs should be filled up since those details are needed on simulating a [[Depreciation Run]].
+
* Original Useful Life(Months), Depreciation Month(Start), Capitalized Cost, Purchase Value, and Book Value cannot be edited once the Fixed Asset has been created.
−
** Depreciation tab cannot be edited if the user already perform a [[Depreciation Run]]
 
−
* For detailed instructions on how to edit a Fixed Asset Master, the user can visit the Fixed Asset Master Job Aid which can be found [[Fixed Asset Master Aids|here]].
 
  
 +
[[File:Editing Fixed Asset Master(Accounting Details).png|center|thumb|867x867px|Editing Fixed Asset Master(Accounting Details)]]
 +
<br />
 +
{| class="wikitable"
 +
!Field
 +
!Description
 +
!Expected Values
 +
|-
 +
|1.GL Account(Asset)
 +
|•Assigned General Ledger Account for Asset
 +
|•Account List under Chart of Account Maintenance Module
 +
|-
 +
|2.GL Account(Acc Dep)
 +
|•Assigned General Ledger Account for Accumulate Depreciation
 +
|•Account List under Chart of Account Maintenance Module
 +
|-
 +
|3.GL Account(Depreciation Expense)
 +
|•Assigned General Ledger Account for Depreciation Expense
 +
|•Account List under Chart of Account Maintenance Module
 +
|}
 
=====Fixed Asset Master Option=====
 
=====Fixed Asset Master Option=====
 
[[File:Fixed Asset Master Option.png|center|thumb|Fixed Asset Master Option]]Notes:
 
[[File:Fixed Asset Master Option.png|center|thumb|Fixed Asset Master Option]]Notes:
  
−
* For detailed instructions on how to Export a Fixed Asset Master, the user can visit the Fixed Asset Master Job Aid which can be found [[Fixed Asset Master Aids|here]].
+
*For detailed instructions on how to Export a Fixed Asset Master, the user can visit the Fixed Asset Master Job Aid which can be found [[Fixed Asset Master Aids|here]].
  
 
=====Fixed Asset Master Record Option=====
 
=====Fixed Asset Master Record Option=====
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*Fixed Asset Masters cannot be edited when the status of the record is '''CANCELLED''' or '''RETIRED'''
 
*Fixed Asset Masters cannot be edited when the status of the record is '''CANCELLED''' or '''RETIRED'''
 
**Retired Assets will continue its depreciation calculations until the date it is tag as retired.
 
**Retired Assets will continue its depreciation calculations until the date it is tag as retired.
−
* For detailed instructions on how to Export a Fixed Asset Master, the user can visit the Fixed Asset Master Job Aid which can be found [[Fixed Asset Master Aids|here]].
+
*For detailed instructions on how to Export a Fixed Asset Master, the user can visit the Fixed Asset Master Job Aid which can be found [[Fixed Asset Master Aids|here]].
  
 
=====Fixed Asset Master Viewing Record=====
 
=====Fixed Asset Master Viewing Record=====
Line 158: Line 253:
 
*The user can edit the details while viewing the record.
 
*The user can edit the details while viewing the record.
  
−
* For detailed instructions on how to View a Fixed Asset Master, the user can visit the Fixed Asset Master Job Aid which can be found [[Fixed Asset Master|here]].
+
*For detailed instructions on how to View a Fixed Asset Master, the user can visit the Fixed Asset Master Job Aid which can be found [[Fixed Asset Master|here]].
  
 
{| class="wikitable"
 
{| class="wikitable"

Revision as of 13:12, 27 January 2021


Fixed Asset Master

This maintenance screen allows the users to configure Fixed assets master data records for asset transactions.

Fixed Asset Master Record List
File:Fixed Asset Master Record List.png
Fixed Asset Master Record List
Adding Fixed Asset Master
File:Adding Fixed Asset Master.png
Adding Fixed Asset Master
Field Description Expected Values
1.Asset Number(Bar Code) •Reference Number for the Asset •Number
2.Asset Class •Asset Class assigned in the Fixed Asset Master •Asset Class Provided in Fixed Asset Class Maintenance Module
3.Asset Name •Name of the Asset •Alphanumeric
4.Item-Code •Item Reference Code •Item Code List provided in the field
5.Sub-Number •Number of the Sub Asset •Number
6.Serial Number/Engine Number •Serial Number of the Asset •Number
7.Description •Description of the Asset •Alphanumeric
8.Asset Location •Location of the Asset •Alphanumberic
9.Budget Center •Budget Center assigned in the Asset •Budget Center List provided in Budget Center Maintenance Module
10.Accountable Person •Person in charge on the Asset •Alphanumeric
11.Retirement Date •Date of Retirement of the Accountable Person •Date
12.Commissioning Date •Date of Commission of the Accountable Person •Date

Notes:

  • Asset Number is a unique field, it cannot be edited once the user proceed with its creation.
  • Budget Center should be on ACTIVE status when using it upon creating or editing a record.
  • Asset Class should be on ACTIVE status when using it upon creating or editing a record.
  • All fields and tabs should be filled up since those details are needed on simulating a Depreciation Run
  • For detailed instructions on how to create a Fixed Asset Master, the user can visit the Fixed Asset Master Job Aid which can be found here.
File:Adding Fixed Asset Master(Depreciation).png
Adding Fixed Asset Master(Depreciation)
Field Description Expected Values
1.Remaining Useful Life(Months) •Remaining Lifespan of a Fixed Asset •Number
2.Original Useful Life(Months) •Original Lifespan of a Fixed Asset •Number
3.Depreciation Month Start •Date when will the Fixed Asset will start depreciating. •Date
4.Capitalized Cost •Expense that is added to the cost basis of a fixed asset •Number/Amount
5.Purchase Value •Purchase Price of the said Asset •Number/Amount
6.Book Value •An asset's original cost, less any accumulated depreciation and impairment charges that have been subsequently incurred. •Number/Amount
7.Salvage Value •The estimated book value of an asset after depreciation is complete. •Number/Amount

Notes:

  • Original Useful Life(Months), Depreciation Month(Start), Capitalized Cost, Purchase Value, and Book Value cannot be edited once the Fixed Asset has been created.


File:Adding Fixed Asset Master(Accounting Details).png
Adding Fixed Asset Master(Accounting Details)
Field Description Expected Values
1.GL Account(Asset) •Assigned General Ledger Account for Asset •Account List under Chart of Account Maintenance Module
2.GL Account(Acc Dep) •Assigned General Ledger Account for Accumulate Depreciation •Account List under Chart of Account Maintenance Module
3.GL Account(Depreciation Expense) •Assigned General Ledger Account for Depreciation Expense •Account List under Chart of Account Maintenance Module
Editing Fixed Asset Master
File:Editing Fixed Asset Master(Asset Details).png
Editing Fixed Asset Master(Asset Details)


Field Description Expected Values
1.Asset Class •Asset Class assigned in the Fixed Asset Master •Asset Class Provided in Fixed Asset Class Maintenance Module
2.Asset Name •Name of the Asset •Alphanumeric
3.Item-Code •Item Reference Code •Item Code List provided in the field
4.Sub-Number •Number of the Sub Asset •Number
5.Serial Number/Engine Number •Serial Number of the Asset •Number
6.Description •Description of the Asset •Alphanumeric
7.Asset Location •Location of the Asset •Alphanumberic
8.Budget Center •Budget Center assigned in the Asset •Budget Center List provided in Budget Center Maintenance Module
9.Accountable Person •Person in charge on the Asset •Alphanumeric
10.Retirement Date •Date of Retirement of the Accountable Person •Date
11.Commissioning Date •Date of Commission of the Accountable Person •Date

Notes:

  • All fields and tabs should be filled up since those details are needed on simulating a Depreciation Run.
    • Depreciation tab cannot be edited if the user already perform a Depreciation Run or has a present transaction.
  • For detailed instructions on how to edit a Fixed Asset Master, the user can visit the Fixed Asset Master Job Aid which can be found here.


File:Editing Fixed Asset Master(Depreciation).png
Editing Fixed Asset Master(Depreciation)
Field Description Expected Values
1.Remaining Useful Life(Months) •Remaining Lifespan of a Fixed Asset •Number
2.Salvage Value •The estimated book value of an asset after depreciation is complete. •Number/Amount

Notes:

  • Original Useful Life(Months), Depreciation Month(Start), Capitalized Cost, Purchase Value, and Book Value cannot be edited once the Fixed Asset has been created.
File:Editing Fixed Asset Master(Accounting Details).png
Editing Fixed Asset Master(Accounting Details)


Field Description Expected Values
1.GL Account(Asset) •Assigned General Ledger Account for Asset •Account List under Chart of Account Maintenance Module
2.GL Account(Acc Dep) •Assigned General Ledger Account for Accumulate Depreciation •Account List under Chart of Account Maintenance Module
3.GL Account(Depreciation Expense) •Assigned General Ledger Account for Depreciation Expense •Account List under Chart of Account Maintenance Module
Fixed Asset Master Option
File:Fixed Asset Master Option.png
Fixed Asset Master Option

Notes:

  • For detailed instructions on how to Export a Fixed Asset Master, the user can visit the Fixed Asset Master Job Aid which can be found here.
Fixed Asset Master Record Option
File:Fixed Asset Master Record Option.png
Fixed Asset Master Record Option

Notes:

  • Fixed Asset Masters cannot be edited when the status of the record is CANCELLED or RETIRED
    • Retired Assets will continue its depreciation calculations until the date it is tag as retired.
  • For detailed instructions on how to Export a Fixed Asset Master, the user can visit the Fixed Asset Master Job Aid which can be found here.
Fixed Asset Master Viewing Record
File:Fixed Asset Master View Record.png
Fixed Asset Master View Record


Notes:

  • The user can edit the details while viewing the record.
  • For detailed instructions on how to View a Fixed Asset Master, the user can visit the Fixed Asset Master Job Aid which can be found here.
Categories:
Modules
Maintenance Maintenance | Budget Center | Fixed Asset Class | Fixed Asset Master | Chart of Account
Financials Depreciation Run
Job Aid Modules
Maintenance Aids Currency Aids | Budget Center Aids | Fixed Asset Class | Chart of Accounts Aids
Financials Depreciation Run Aids
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