a103 deploy fixed assets presented by: gary godfrey solution expert november 9, 2015
TRANSCRIPT
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A103 Deploy Fixed Assets
Presented by:Gary GodfreySolution Expert
November 9, 2015
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Summary:Discuss the benefits of managing fixed assets in Orchestrated and steps to deploy.
Who Should Attend:
Accounting Personnel
Logistics:
Straight Line
SUMMARY
#Orchestrate2015
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1. Overview
2. Benefits
3. Orientation
4. User Perspective
5. Q&A
AGENDA
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Overview
Overview
• The Fixed Asset function provides control of the complete asset life cycle, from acquisition, depreciation, revaluation, and retirement.
• Manage fixed assets from an accounting and tax perspective in a more efficient manner.
#Orchestrate2015
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Benefits
Benefits• Eliminate External Fixed Assets Systems
Everything in one place
• Automate Data EntrySimple to execute runs
• Change logKnow what changed
• Multiple Depreciation AreasView additional depreciation calculationsIn parallel to the actual calculation
#Orchestrate2015
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Orientation
Depreciation Areas
• Create different depreciation areas to show the value of fixed assets for a specific purpose.GAAPTaxInternalEtc.
• Posting of DepreciationDirect: Post to asset balance sheet account Indirect: Post to accumulated depreciation account
#Orchestrate2015
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Orientation
Depreciation Methods• Straight Line
Acq. Value/Useful Life, % of Acq. Value, Net Book / Rem Life
• Straight Line Period ControlStraight Line with a factor you define for each period
• Declining BalanceCan auto switch to Straight Line toward end of life
• MultilevelSet multiple stages, period and rate
• Immediate Write-OffWritten off in same period as aquired
• Special DepreciationAdditional percentage in addition to normal depreciation
• Manual DepreciationOne off, enter depreciation manually
#Orchestrate2015
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Orientation
Process Flow• Enable
Activate Fixed Assets
• SetupG/L DeterminationsDepreciation TypesDepreciation AreasAsset Classes
• AcquireCreate Fixed Asset ItemCapitalize Item
• DepreciateExecute Depreciation Runs
• RetireRetire the Asset
#Orchestrate2015
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Orientation
Master Data
• Master Data for Fixed Assets
• View values for depreciation areas
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Orientation
Capitalization
• Capitalize with A/P Documents or Fixed Assets Capitalization Document.
#Orchestrate2015
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Orientation
Depreciation Run
#Orchestrate2015
• Select the Period• Preview• Execute
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Orientation
Retirement
• Retire with A/R Documents or Fixed Assets Retirement.
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User Perspective
Karla MontoyaFinance Manager
Golden Road BrewingLos Angeles, CA
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Next Steps
Next Steps
• List all active Fixed Assets in a Spreadsheet
• Refresh Test Database
• Activate Fixed Assets in Test Database
• Test Fixed Assets in Test Database
• Go-Live w/Orchestra’s help on Fixed Assets
#Orchestrate2015
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Q&A
Q&A
#Orchestrate2015
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Thank You!