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

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 assetNotesAny notes for the asset - ie: This tractor should only be used in the springDate AcquiredDate the asset was acquired/purchased - should lock when depreciating or retiringPlaced in Service

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

Depreciation MethodThe method of depreciation chose for the asset - ie: Straight line, Double Declining Balance, ACRS, MACRS, Sum of YearsCostCost of Asset at time of acquisition/purchaseCurrency

Currency should show based on selected currency in

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

Market ValueCurrent value of the asset - serves as a reporting and memo fieldInsurance ValueValue for insurance, used for reportingSalvage ValueValue of the asset at end of life basis = market value - salvage valueBasis DescriptionFree form text field for reporting - ie: Impaired assetDisposition DateSystem maintained - this is the date the asset was retiredDisposition NoTransaction number that records the disposition in GLDisposition CommentUser textDisposition AmountValue recovered on disposition - user entered upon dispositionPool IDUser defined field for reportingAccuidentIdentity field to link to Origin - read onlyAsset 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 categoryAccum Depreciation Acct NoGL acount linked to the Depreciation account in GL - should select from the general categoryManufacturer NameUser entered - manufacturer name of asset
Depreciation NameDescribe the depreciation method you are creating so you can easily look it up - example 5 yr Straight Line
Depreciation TypePlease Select Straight line
Service Yearsthis is the number of years of your asset life - so if the asset had a life of 2.5 years then this would be 2 years
Service Monthsthis is the number of months to be added to the years to get your asset life - so if the asset had a life of 2.5 years then this would be 6 months (1/2 year)
Service DateThis is the date that depreciation will be calculated from - leave blank
Depreciation conventionSee next page
YearThis designates the time period that the depreciation percent will apply to - there should be an entry with associated percentage for each year depreciation is taken
PercentMust total 100 percent.  This is the percentage each year that will be applied to the basis to calculate depreciation - for example if this column was 10 and your asset had a basis (Cost less Salvage value) of 120 then the annual depreciation would be 12 and the monthly depreciation would be 1.  This is expressed in whole number 10=10%
Model NoUser entered - model number of asset