Fixed Asset Master

Maintenance | Budget Center | Fixed Asset Class | Fixed Asset Master Aids | Chart of Account

Fixed Asset Master

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

Requirements before using Fixed Asset Master

• The user should setup the following Maintenance Module in order to proceed on using the Fixed Asset Master
  1. Budget Center
  2. Chart of Account
  3. Fixed Asset Class
• For detailed instructions on how to setup the needed Maintenance Module, the user may visit the following Job Aid pages:
  1. Budget Center Aids
  2. Chart of Accounts Aids
  3. Fixed Asset Class Aids

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 Asset	•Date
12.Commissioning Date	•Date of Commission of the Asset	•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.
  • This can be seen in Budget Center Maintenance Module.
  • 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.
  • This can be seen in Fixed Asset Class Maintenance Module.
  • 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
• 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 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 Asset	•Date
12.Commissioning Date	•Date of Commission of the Asset	•Date

Notes:

• 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.
  • 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.
  • 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 here.

File:Editing Fixed Asset Master - Depreciation.png

Editing Fixed Asset Master - Depreciation

Field	Description	Expected Values
1.Asset Number(Bar Code)	•Asset Number of the Asset	•Number
2.Asset Name	•Name of the Asset	•Alphanumeric
3.Remaining Useful Life(Months)	•Remaining Lifespan of a Fixed Asset	•Number
4.Original Useful Life(Months)	•Original Lifespan of a Fixed Asset	•Number
5.Depreciation Month Start	•Date when will the Fixed Asset will start depreciating.	•Date
6.Capitalized Cost	•Expense that is added to the cost basis of a fixed asset	•Number/Amount
7.Purchase Value	•Purchase Price of the said Asset	•Number/Amount
8.Book Value	•An asset's original cost, less any accumulated depreciation and impairment charges that have been subsequently incurred.	•Number/Amount
9.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:Fixed Asset Master - Accounting Details.png

Fixed Asset Master - Accounting Details

Field	Description	Expected Values
1.Asset Number(Bar Code)	•Asset Number of the Asset	•Number
2.Asset Name	•Name of the Asset	•Alphanumeric
3.GL Account(Asset)	•Assigned General Ledger Account for Asset	•Account List under Chart of Account Maintenance Module
4.GL Account(Acc Dep)	•Assigned General Ledger Account for Accumulate Depreciation	•Account List under Chart of Account Maintenance Module
5.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.