Fixed Assets Fields
Column NameDescription
Asset NoSystem generated control name for the asset - created on Save
Asset DescriptionAllows user to add a description for the asset - ie: tractor trailer
DepartmentDepartment name
Location

Location should show the Default location based on Location setup in

System Manager | Users| Menu - Entity Screen |User| Detail tab - Default Location 

  • Note that this will drive the location segment override on the general ledger if selected
  • this will use the location segment set up in the company location to override the account code (see below locations override)
Serial NumberSerial number of asset
Date AcquiredDate the asset was acquired/purchased - should lock when depreciating or retiring
Placed in Service

Date the asset was placed in service and depreciation should begin - should lock when depreciating or retiring.  

  • This date must be in a period that is not closed for fixed assets in the GL Fiscal year setup.
Depreciation MethodThe method of depreciation chose for the asset - ie: Straight line, Double Declining Balance, ACRS, MACRS, Sum of Years
Default CostCost of Asset at time of acquisition/purchase
Forex Ratedomestic currency
Currency

Currency should show based on selected currency in

System Manager | Company Configuration | System Manager tab - Functional Currency

Can be overridden with any valid currency

Default Salvage ValueValue of the asset at end of life basis = market value - salvage value
Basis DescriptionFree form text field for reporting - ie: Impaired asset
Asset Info frame:
Serial No
NotesAny notes for the asset - ie: This tractor should only be used in the spring
Market ValueCurrent value of the asset - serves as a reporting and memo field
Insurance ValueValue for insurance, used for reporting
Pool IDUser defined field for reporting
Manufacturer NameUser entered - manufacturer name of asset
Model NoUser entered - model number of asset
Import frame:
ImportedCheckbox
Imported Dep Thru Date
Depreciation Tax to Date
Depreciation GAAP to Date
Legacy Id
Disposal frame:
Disposition Date

System maintained -

  • This is the date the asset was retired
  • This date should be on or after the last depreciation entry for the asset.
  • This will populate when you retire the asset
Disposition NoTransaction number that records the disposition in GL
Disposition CommentUser text
Disposition AmountValue recovered on disposition - user entered upon disposition


AccuidentIdentity field to link to Origin - read only
GL Account tab:
Asset Account NoGL Lookup on all accounts that are in the General category (Standard account lookup linked to GL Module)
Offset Account NoGL Account used as the offset when an asset is created.
Depreciation Expense Acct NoGL Account linked to the Depreciation account in GL - should select accounts from the general category
Accum Depreciation Acct NoGL acount linked to the Depreciation account in GL - should select from the general category
Gain/Loss Acct NoGL acount linked to the Gain/Loss account in GL - should select from the Revenue category
Asset Status frame:
AcquiredDetermines if the initial entry to book the asset has been made
DepreciatedThis is flagged when the first depreciation entry is made
Full depreciatedThis is flagged when no more book or tax depreciation is available.  (this is for reporting)
Disposed This is flagged when the disposal entry has been made(this is for reporting)
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