Fixed Asset Class

Fixed Asset Class

This maintenance screen allows the users to configure and add Asset Class for their General Ledger Accounts.

Fixed Asset Class Record List

File:Fixed Asset Class Record List.png

Fixed Asset Class Record List

Notes:

• Fixed Asset Class is required when creating Fixed Asset Master
  • Fixed Asset Class can be used in Fixed Asset Master as long as its status is "ACTIVE"

Adding Fixed Asset Class

File:Adding Fixed Asset Class.png

Adding Fixed Asset Class

Field	Description	Expected Output
1.Code	•Reference Code for the Fixed Asset Class	•Alphanumeric
2.Asset Class	•Asset Class	•Alphanumeric
3.Depreciate	•Checking if the Fixed Asset Class is Depreciating	•Tick/Untick
4.No. of Months use of Life	•Life of Specific Asset Class	•Number
5.Salvage Value	•Price when the Asset is Salvaged	•Number
6.GL Account Asset	•Account where the asset is assigned	•Account List from Chart of Accounts
7.GL Account (Acc Dep)	•Account where the asset is assigned on Accounting Department	•Account List from Chart of Accounts
8.GL Account (Depreciate Expense)	•Account where the asset is assigned when there is a Depreciation	•Account List from Chart of Accounts

Notes:

• "ACTIVE" chart of account list are the accounts that can be used in:
  • GL Account Asset
  • GL Account (Acc Dep)
  • GL Account (Depreciate Expense)

Editing Fixed Asset Class

File:Editing Fixed Asset Class.png

Editing Fixed Asset Class

Field	Description	Expected Output
1.Asset Class	•Asset Class	•Alphanumeric
2.Depreciate	•Checking if the Fixed Asset Class is Depreciating	•Tick/Untick
3.No. of Months use of Life	•Life of Specific Asset Class	•Number
4.Salvage Value	•Price when the Asset is Salvaged	•Number
5.GL Account Asset	•Account where the asset is assigned	•Account List from Chart of Accounts
6.GL Account (Acc Dep)	•Account where the asset is assigned on Accounting Department	•Account List from Chart of Accounts
7.GL Account (Depreciate Expense)	•Account where the asset is assigned when there is a Depreciation	•Account List from Chart of Accounts

Fixed Asset Class Option

File:Fixed Asset Class Option.png

Fixed Asset Class Option

Fixed Asset Class Record Option

File:Fixed Asset Class Record Option.png

Fixed Asset Class Record Option

Notes:

• "INACTIVE" Fixed Asset Class cannot be used when creating or editing Fixed Asset Master.
  • Fixed Asset Class is required when creating Fixed Asset Master.

Fixed Asset Class View Record

File:Fixed Asset Class View Record.png

Notes:

• The user is allowed to edit the details when viewing the record.