15.06. Fixed Asset Operations

Asset Movements

Operating an asset movement is done through asset account transfer documents. Asset account transfers are operated from the Asset Account Transfer window, located in the Customer Assets menu. The following fields are available:

• Asset - asset for which the account transfer is registered;

• Account Date - date of the transfer;

• Description

Accounts section:

• Org, Activity, Employee, Contract, etc. - parameters used to define the asset destination;

Action section:

• Processed - indicates that the asset account transfer document has generated it's effects within the system (see Generate Account Transfer)

• Generate Account Transfer button - will generate, for the asset, in the Account Transfer tab, from the Asset (Customer) window -> Accounting Setup tab, a record contain accounting information related to the transfer. Details in Entering Assets;

Operating an asset transfer can also be done manually, in the Account Transfer tab, located in the Asset (customer) window, Accounting Setup tab, by following the steps described below:

• 1. Select the asset that will be transferred;

  2. Select the corresponding accounting setup record that will be used to register the transfer;

  3. enter a new record in the Account Transfer tab;

  4. Enter the new account numbers/dimensions for the record in the Accounts section;

  5. Save the record.

The asset will now use the accounts defined in the Account Transfer tab, from the record with the most current account date instead of the accounts from the Accounting Setup tab.

Asset Disposals

Asset disposals can be registered in the Asset Disposals window, located in the Customer Assets -> Disposals and Conservations -> Asset Disposal menu, as a document, following the steps described below:

1. Select the asset you want to dispose;

2. Enter a new record in the Asset Disposal tab and fill in the corresponding fields;

3. Press the Dispose Asset button.

The Asset Disposal tab, from the Asset Disposals window, is used to define and process the documents used for asset disposal. The following fields are available:

• Asset - the disposed asset;

• Document No, Document Type

• Disposal Reason

  • • "Charity"

    • "Destroyed"

• • "Scrapped"

    • "Sold" - select if the disposal was registered through a customer invoice:

      • Invoice, Invoice Detail - indicates the invoice line through which the invoice was registered;

      • starting with 15.06, when posting an asset disposal, the invoice business partner and product will be completed on the asset disposal record;

    • "Sold w/Trade" - traded for another asset;

    • "Theft"

• Disposed Method:

  • • "Cash" - select if a cash receipt is registered as a result of the asset disposal;

      • Proceeds - the receipt amount registered;

    • "Simple"

    • "Trade" - select if the asset was traded for another asset;

      • Asset Trade - the replacement asset;

    • "Trade w/Cash" - select if the disposal is registered by trade and the value difference is registered as a cash payment/receipt;

      • Asset Trade

      • Proceeds - the receipt/payment amount registered;

• Disposed Date, Document Date, Period, Account Date

  • • the actual asset disposal date can be controlled through the Period and Account Date which can be different from the Disposal Date and the Document date;

    • if all the dates are within the same month (period) the asset disposal and the last depreciation rate will be registered at the end of the month;

    • if the period and account date are before the document and disposal dates, then the disposal will be registered at the beginning of the period;

• • Activity, Trx organization - accounting dimensions used for analysis

  • Asset Disposal button - is use to process the asset disposal document and generate it's effects within the system;

  • Asset Disposal Delete button - cancels the disposal effects and deletes the record;

The Asset Disposal report displays, depending on the selected parameters, a list of disposed assets and related information such as: initial value, inventory value, cumulated depreciation amount, in service date and disposal date.

Asset Conservation

Asset conservation is registered in the Asset Conservation window, located in the Customer Assets -> Disposals and Conservations menu, as a document, following the steps described below:

1. Select the asset you want to dispose;

2. Enter a new record in the Asset Conservation tab and fill in the corresponding fields;

3. Press the Asset Conservation button.

The Asset Conservation tab from the Asset Conservation menu is used to define and process the documents used for asset conservation. The following fields are available:

• Document No, Document Date, Description

• Period, Period to - the first and last month of the asset conservation period;

• Conserved - indicates that the record has been processed;

• Asset Conservation button - is used to process the document and generate the it's effects within the system

• Asset Conservation Delete button - cancels the system effects of the asset conservation document and deletes the record;

The Fixed Asset in Conservation report displays, depending on the selected parameters, a list of assets in conservation and the conservation interval. The report parameters represent selection filters for the assets and the interval checked.

Allocating Assets

Premises The assets are purchased by the company and allocated to the area they belong to. For example:

• All conveyance assets are allocated to the Company Fleet;

• All the IT assets (servers, computers, printers, etc.) are allocated to the IT department;

• All the building equipment assets are allocated to the Administrative department.

• etc.

Each of these departments has an employee (Business Partner) that is responsible for the assets. This employee will always be included in any new asset definition in the Business Partner field.

The quantity defined for an asset can be greater or equal to 1 in the cases I need to run a multiple tracking. For example:

• Cars - Quantity is always 1 due to the following reasons:

  • They can move independently (can be sold, granted);

  • They are, at the same time, resources and must be planned independently.

• Scaffolding - quantity is always bigger than 1 for the following reasons:

  • As capital, they cannot move independently;

  • They have subcomponents that are also in quantities bigger than 1 and that can be individually allocated to separate users.

Allocation Operation

An asset can be allocated in the Asset Usage window, located in the Customer Assets menu. The following fields are available:

• Document No, Document Date

• Business Partner To, Address to , Contact to - the business partner to which assets are allocated;

The Asset Usage tab is used to define the document used to allocate an asset to a business partner. The following fields are available:

• Document No, Document Type, Transaction Date

• Asset - the allocated asset;

• Product, Resource

• Available for Allocation - the available quantity (allocated to the source business partner)

• Use Units - the allocated quantity;

• Description, Location Comment

• Business Partner, Location, User - source business partner for the allocation;

• Business Partner to, Location, User - destination business partner for the allocation;

Reference section - contains accounting dimensions used for analysis:

Status section:

• Document Status - indicates the current docuemnt status

• Document Action button - is used to change the document status. Select "Complete" to process the document;

• Record Processed - indicates that the document has been processed;

• Returned - is used as a search filter for returned assets. Has no effects within the system;

Allocation Rules:

1. You cannot allocate a quantity bigger than the one entered in the Quantity field in the asset definition window;

   • You cannot allocate a quantity bigger than the one already allocated on the source business partner (the one that has handed the asset);

   • For this, the system makes a calculation to determine the quantities allocated to that person that have yet to be returned;

2. It is the Business Partner from the asset definition that initially holds the entire quantity;

3. The asset return is done as a reverse allocation operation between the source and target business partners, with positive quantity!

   • You cannot return a quantity that is bigger than the sum of the quantities that have been allocated to the source business partner and that have yet to be returned;

4. The initial allocations are always done from the Business Partner to another target business partner.

For an allocation you can list reports (document type) of type "Handover Official Report" as described below:

• from a superior allocation level - the handover protocol will contain all the assets from the allocation line that have been allocated;

• from an allocation line level - the handover protocol for the respective fixed asset will list the entire content of this;

  • this facility is only available to the fixed assets that are linked to a means of conveyance;

  • the listed content is taken from the means of conveyance definition: Inventory tab.

Reporting Allocated Assets

The Allocated Assets by Business Partners report presents the current fixed assets allocated to a certain business partner (employee). The report can only be run for a single business partner.

The Allocated Assets Inventory List report presents the current allocation of a fixed asset to business partners (employees). If the asset has a quantity bigger than one, then the report will contain a line for each asset unit allocated to each employee. The unallocated quantities belong with the responsible business partner.

The Past Allocations report presents the past allocation of a fixed asset.

The report can be obtained from the lines of Asset Usage window, using the Print or Report functionality. Selection filters for the report can be defined using the Search functionality .