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Cibermaxima Software

Cibermaxima Solutions is an MBS Independent Software Vendor Partner that specializes in producing value added products for MBS Solomon. Just as in Solomon itself, all products are developed using VB Tools, allowing for transparent interaction with the main Solomon Suite. In developing our products, we take into account the need to produce cost effective, relevant and easy to use applications. We also understand that if our products are to live up to customer expectations we have to produce quality products. It is with this in mind that we do everything possible to ensure that we meet and exceed those requirements be it at the IT, User or Top Management level. The basic Fixed Assets module functionality can be enhanced to address your needs, with optional Multi-currency, Multi-company or Inter-company functionality. One of the strong points of MBS Solomon is its versatility and flexibility. So, if we don’t have exactly what you want, you can always request a quote in order to customize our products to your specific needs. Additionally, Cibermaxima Solutions places numerous other tools and modules at your disposal in order to make your workload that much lighter. Whether you are using productivity tools such as our Imager (for capturing and associating imagery to your documents), XL Analyzer (for easy presentation and analysis of data at local and managerial level), or simply using one of our productivity based modules like the Bank Manager, Cibermaxima will always be there to help you get the job done.


Contents

1. Fixed Assets Concepts 8

1.1. Why use Fixed Assets Management? 8 1.2. How Cibermaxima FA integrates with Solomon 10

1.3. Determining depreciation methods for your assets 13

2. FA Workflow Chart 16 3. Setting Up Fixed Assets 17

3.1. Setup Process 17

3.1.1. Book Creation 19 3.1.2. Miscellaneous Tables 25 3.1.2.1. Miscellaneous Tables Definition 27 3.1.2.2. Miscellaneous Tables Initialization 30 3.1.3. Fixed Assets Setup Screen 33 3.1.4. Asset Class Creation 37 3.1.4.1. General Information 39 3.1.4.2. Account Information 43 3.1.4.3. Inflation/Revaluation Accounts 47 3.1.4.4. Sub-Class 48

3.2. Additional Cibermaxima Fixed Assets Tables 50

3.2.1. Table depreciation methods 51 3.2.2. Production unit methods 54 3.2.3. Custom Depreciation Methods 58 3.2.4. Inflation Rate Maintenance 60 3.2.5. Expense Sub-Account Distribution 65

3.3. Setting Up Cibermaxima add-on Modules 68 3.3.1. Inflation Adjustment Module 68


4. Uploading Fixed Assets Data 71

4.1. Filling in the Cibermaxima excel datasheet 72 4.2. Importing the excel datasheet 76 4.3. Generating, validating and releasing information for the Initialization Document 78 4.4. Validating initialization values for each Book 82

5. Working With Fixed Assets 83

5.1. Operations 83

5.1.1. FA Workflow process 84 5.1.2. Incorporating an Asset 85 5.1.2.1. Manual 86 5.1.2.2. Automatic capture from AP/GL Module 115 5.1.3. Improvements 122 5.1.3.1. Manual 124 5.1.3.2. Automatic capture from AP/GL Module 128 5.1.4. Disposals and Partial disposals 130 5.1.4.1. Disposals 130 5.1.4.2. Partial Disposals 136 5.1.5. Transfers 141 5.1.5.1. Asset Sub Account Transfers 142 5.1.5.2. Unit Location Transfers 145

5.1.5.3. Inter-Company Transactions 148 5.1.6. Changes to Useful Life and Salvage values 151 5.1.7. Activation/Deactivation of Assets 155

5.2. Processes 158

5.2.1. Depreciation and GL Posting 158 5.2.2. Release Documents 169 5.2.3. Rollback Process 172 5.2.4. General Ledger Transactions 174 5.2.5. Depreciation Projection 180


6. Physical Inventory 182

6.1. Exporting Assets for Physical Count 182 6.2. Physical Count – Inventories undertaken with Hand 192 Held Devices 6.3. Importing Data from Physical Count 199 6.4. Establishing differences between System Quantity and Physical 204 Quantity 6.5. Accounting 206

7. Information Management 209

7.1. Screen Inquiry 209 7.1.1. Asset History Viewer 209 7.1.2. Asset Event Viewer 214 7.1.3. Asset Master Inquiry 217 7.1.4. Asset Accounts 218 7.1.5. Asset by Location 222 7.1.6. Physical Count Inquiry 223 7.1.7. Book Value 224 7.1.8. Sub-Account Transfers 225 7.1.9. Improvements & Partial Disposals 226 7.2. Reports 227 7.2.1. Assets and Disposals by Sub-Account (FA001) 248 7.2.2. Asset History by Class (FA002) 231 7.2.3. Asset Acquisitions (FA003) 236 7.2.4. Fixed Assets Disposals (FA004) 237 7.2.5. Asset Inventory List (FA005) 238 7.2.6. IRS Helper Summary (FA008) 239 7.2.7. Asset Sub-Account Transfers (FA020) 240 7.2.8. Disposal Document (FA040) 241


7.2.9. Asset Class Maintenance (FA12R) 242 7.2.10. Transactions (FA630) 243 7.2.11. Assets by Period (FA650) 244 7.2.12. Summary History By Class (FA022) 245

7.2.13. Summary History By SubAccount (FA011) 246 7.2.14. Projected Depreciation by Class (FA675) 247

7.3. OLAP Cubes 248


CIBERMAXIMA Fixed Assets

Fixed Assets Concepts This chapter describes Fixed Asset Concepts and other important considerations.

he definition of structures, methods and concepts related to Fixed Assets, are the fundamentals in creating a functional framework within the Cibermaxima Fixed Assets (FA) Module.

1.1. Why use Fixed Assets Management? Fixed Assets is an important part of the company structure and a crucial financial component for the majority of organizations. These assets can be either tangible or intangible. Due to their importance, these should be controlled, inventoried and administered in an orderly fashion. The Cibermaxima Fixed Assets (FA) Module will provide the procedures necessary to install, administer, and maintain the fixed asset inventory of a company. FA is a comprehensive solution specifically designed for Solomon and fully integrated with Solomon. In addition, it has optional Multi-Company, Multi-Currency, Multi- Book and Multi-Ledger functionality.

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FA puts critical information at your disposal allowing you to make informed decisions. You can effectively track, record and depreciate any asset with a few easy steps in conjunction with Solomon, Cibermaxima Fixed Assets gives you a single point of reference to record fixed assets at the time of purchase. Easy to use setup of asset classes gives you superior control over asset maintenance and depreciation. You can create an unlimited number of books for each company including corporate, federal tax, alternative minimum tax methods and much more. After creating assets, you can review and analyze financial information at any point in the asset life cycle. Cibermaxima Fixed Assets module is OLAP Ready™. You have the ability to use the database with any OLAP™ tool without need for data to be transformed or redesigned. The user can easily create various data models from within Microsoft Excel.


1.2. How Cibermaxima Fixed Assets (FA) integrates with Solomon Cibermaxima Fixed Assets (FA) is wholly integrated with Solomon's General Ledger (GL), Accounts Payable (AP), Purchasing (PO), Project Controller (PA), Currency Manager (CM), Financial Statement Translation (FS), and System Manager (SM) Modules.


This table highlights the main features and benefits obtained when the FA module has been integrated into Solomon.

FA - SOLOMON INTEGRATION

FEATURE BENEFIT

No Interface To Run, because it is a True Solomon Application.

Users don't have to update or synchronize tables between Solomon and Fixed Assets.

Shares All Solomon Tables. Chart of accounts, sub accounts, ledgers, vendors, vendor documents, purchase orders, projects, tasks, taxes, countries, currencies, etc.

There is no need to run any interface or to duplicate the same information into 2 different systems.

Crystal Reports through Solomon's ROI.

Industry standard report writer, saves time, IT personnel don't have to learn another system tool.

Direct Integration To Solomon's General Ledger.

No interfaces to run. FA automatically creates the GL Entries Summary or details like AP or any other Solomon module.

Integration To Accounts Payable/Purchasing.

Any fixed asset purchased will be detected and created in FA, updating Solomon’s General Ledger.

Integration with Solomon's Financial Statement Translation.

FA fills the gap in FASB-52 or any financial statement translation environment. Will handle books in different currencies with different depreciation methods, and will post to the financial statement translation ledger.

Integration with Solomon's Project Controller.

Assets can be assigned to specific projects and tasks, so they will also receive depreciation costs and any other


FA function that generates GL entries.

Creates Assets Automatically from within General Ledger.

FA allows for assets under construction to be automatically incorporated from Solomon's Project Controller or from General Ledger.

Automatic Batch Reversal. If there are any changes to a particular month processed, then FA will search for the GL batch, and if it is still balanced, it will void it, if it is released, then it will be automatically reversed and a new batch created.

Assets Budget and Projections can be posted to Solomon's General Ledger.

Budgeting process can be simplified.


1.3. Determining Depreciation Methods for your Assets With the exception of land properties, the majority of fixed assets have a limited useful life, be it caused by deterioration through use, natural disasters, loss of comparative use due to acquisition of new equipment and processes that may cause wear and tear of contents. These circumstances also lower the value of the asset, so that at the end of the assets´ useful life, that is to say, when the company wishes to dispose of the asset, its value is only a fraction of the original purchase price. Notwithstanding, the receivable amount of payment is almost always calculated in accordance to each company’s perception of the asset’s value at any point in time, without stopping to think if the amount requested is the fair market value for the asset. That is why Depreciation Accounting methodology is used to establish a fair market value. This methodology results in accurate valuations and establishment of fair market prices Depreciation is the rational and systematic acknowledgement of the cost of goods, distributed throughout estimated useful life, so as to perceive the necessary resources to replace goods, permitting the company to maintain its operating capacity and productivity. Depreciation should be applied using criteria for time and productivity, using one of the following methods that have been developed to estimate depreciation costs of tangible fixed assets provided within the Fixed Assets module: Fixed Assets ID DescriptionNA Not Apply DepreciationLIN Straight-Line LINCONV Straight-Line (Convention) LIN-SEM Straight-Line (Semestral)LIN-YEARLY Straight-Line (Yearly-Basis) LIN544 Straight-Line (544) P Product UnitsDB Declining Balance (Adjusted) DBO Declining BalanceYDECBAL Declining Balance (Yearly Basis)


MACRS-GDS MACRS GDSMACRS-ADS MACRS ADS ACC Sum-of-the-years’-digits (Decreasing) ACCC Sum-of-the-years’-digits (Increasing) C Custom Annual depreciation varies in accordance with the method chosen, but total depreciation throughout useful life of an asset cannot be greater than its rescue value. Some depreciation methods produce higher costs in early years that will affect net profits for the period. Therefore, the company should carefully evaluate all factors, before selecting depreciation methodology for fixed assets.

There are certain rules that apply to depreciation and its methodology that are important to highlight: • Among the various methods for depreciating fixed assets, care should be taken in

choosing the most suited to company policy and the goods’ characteristics. • Depreciation Values established by tax laws are not always the most efficient way to

distribute total depreciation throughout the useful life of fixed assets and although applying accelerated depreciation may produce some fiscal benefit, in accounting terms, depreciation must be calculated and recorded in accordance with the estimated useful life of the assets.

• Depreciation should be calculated on consistent bases and methods from the date the asset is placed in service and accrues costs.

• The depreciable amount of a fixed asset should be assigned on a systematic basis throughout the useful life of the asset. The depreciation method should follow the same pattern as the economic benefits of the asset are consumed by the company.

One of the most popular depreciation methods is Straight Line. Straight Line Method The Straight Line Depreciation Method assumes that the asset will wear out evenly for each accounting period. This method is often used because it is simple and easy to calculate. The Straight Line Method is based on the number of periods of the useful life of an asset, according to the following formula: Cost – Rescue Value Depreciation Amount for each useful life period -------------------------------------- = of the Asset, or depreciation expense for the

Periods of Useful Life period


Example: Depreciation per period for a piece of equipment that cost $26,000,000 with an estimated useful life of 60 periods and a rescue value of $2,000,000, using the Straight Line Method is: $26,000,000 – $2,000,000 -------------------------------------- = Depreciation Expense per period $400,000 60

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Setting up Fixed Assets This chapter gives you a step by step guide of the Fixed Asset setup process.

he setup process must be completed before using Cibermaxima Fixed Assets (FA) in a live environment. The setup process comprises a series of easily completed steps, but they must be carefully executed as some of them are irreversible once the FA module goes live.

3.1. Setup Process When implementing the Fixed Assets module, the Configuration procedure allows you to adapt the Fixed Assets module to specific company structures. To implement this procedure successfully certain functional aspects need to be defined before configuring the module: • Define the Books to be used and their specifications. • Types of Rates of exchange and Currencies to be used with Books, Operations and

Reports. Use of second currency for reports. • Options for posting accounting transactions generated in the Fixed Assets and

General Ledger modules. Validation checks for depreciation documents. • Use of depreciation expense distribution between Sub-Accounts (Cost Centers). • Structuring the auto-numbering code, if you are using automatic generation of Asset

Codes. • Deciding on the depreciation and/or inflation adjustment calculation in the period of

disposal of Asset.

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• Defining Asset Classes and their specifications, Book information and accounting information associated with Classes.

• Depreciation process options. • Using the automatic interface option with the Accounts Payable module and General

Ledger Module. Creating multiple assets through AP. • Use of Inflation Adjustment options. Steps needed to configure the module are:

3.1.1. Book Creation.

3.1.2. Miscellaneous Tables Definition and Initialization.

3.1.3. Completing the Fixed Assets Setup Screen.

3.1.4. Creating Asset Classes.


3.1.1. Book Creation – Setup Step 1 Depreciation is an exercise that distributes loss of value of Fixed Assets subject to depreciation within those periods that the loss actually occurs. The charges posted are called depreciation charges. The difference between the original value and accumulated depreciation on an established date is known as Book Value. These Books have to be defined in the Fixed Assets module as the initial step to start the implementation process.

The Books are a fundamental element of the Cibermaxima Fixed Assets (FA) module. At least one Book must be created – the Main Book. It is necessary to create this Main Book in order to continue to the next implementation step.

Books are shared across companies in the same application database, and assets are shared among each book.

You can create as many Books as necessary. The Books can have different currencies, and different purposes, such as main ledger, budgeting/projection, taxes, other currencies, etc. Each Book can be adjusted for inflation.

Furthermore, you can specify whether a Book can have posting ability to the General Ledger module. More than one book can be posted to different ledgers. This is useful for posting into Budget Ledgers, or into Financial Statement Translation Ledgers.

All Assets are visible in all books. In other words, you cannot create an asset in one book and not in another. If an Asset is created in one book, it will be created in every other book automatically, and if at a later date you create another book, every asset will be created in that book as well. Assets can have different depreciation methods and useful lives within each book.

Important

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The Asset Balances (Number of Depreciation Periods and Accumulated Depreciation) must be specified on initializing each document book. One separate document per book containing all assets. If the FA module does not find the initializing document, or any asset is missing in the initializing document, then FA will calculate the Asset Balances based on the Activation Date (In Service Date) of the Asset, up to the Book’s initializing document. This scenario is NOT recommended. You should initialize all the books.

When you dispose of an Asset, the Asset is disposed of in every book. The same procedure applies to improvements, partial disposals and transfers.

FASB-52 and Financial Statement Translation. The FA module allows you to create additional books in other currencies. You can then set up a book that will be affected (Posted) to the General Ledger that is used for Financial Statement Translation. In those cases where Financial Statement Translation according to FASB-52 regulations is required, the Asset management must be performed in USD directly, and FA offers this functionality. The FA180 – Book Maintenance Screen is used to create the Books that will be used by the FA module. You must predefine the following important parameters:

• Initialization Period of the Book. This is the period from which you wish to record historical detail of the Assets in that Book, the GO Live Period.

• Periods in which to process the Book. Whether it will be processed for every accounting period or once a year.

• Whether the accounting records that are generated for each Book during the depreciation process will be posted or not to the General Ledger module and to which Accounting Book they should be posted.

• The currency in which values will be stored for fixed assets in each Book and should it be required, the second currency of the Book, only for report purposes.

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Book ID An Alpha Numeric Identifier, 10 characters long required, Primary Index. Books are shared across companies in the same application database.

Description Book Description

Initialization Period for this Book

This is the period where the book begins to record historic detail for each asset in the database on a period to period basis. This is your GO LIVE period. The historic data is stored by period and by book, and contains accumulated depreciation, the number of periods depreciated and other data for each Period and for each Book. Assets can be placed in service before the Initialization Period, but without details. As of the initialization period the module will have the ability to analyze the asset data in full period detail. The assets can be initialized (Number of Periods Depreciated and Accumulated Depreciation) as of the opening period of the book (one period before), using the Initialization Document through FA060 – Book Initialization Document Screen.

This book can only be processed yearly This option specifies if the book will process each period or once a year only.

This book is postable to GL This option specifies whether or not the FA module will create general journal entries for this Book in the Solomon GL Module. If such is the case, then a GL Ledger must be specified.

Even if this option is disabled (NOT Postable) the FA Module WILL generate internal general ledger entries for this book, with debits and credits, accounts, sub-accounts, etc. in full detail for each asset. This is kept in the xFATran table, and can be inquired using

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the “Internal general ledger transactions (FA090)”, using OLAP Cubes or by using reports.

Base GL Ledger This is Solomon’s Ledger ID where GL transactions from the FA module for this book will be posted. In other words, the Ledger where the GL Batches resulting from the Fixed Assets processes will be created.

Currency ID for this Book

This is the main currency for this book. All asset values will be stored in this currency within this Book. This currency could be any currency defined in the Solomon Currency Manager Module; which must be activated in order to use this option. The Main Book will have the same currency as its counterpart Ledger in the GL Module. The main book will always have the same currency as the primary currency in the Solomon General Ledger, so it’s not an option for the user.

Second reporting currency for this book

A second currency can be specified for this book. This option allows some reports to be generated in another currency, but all values for a given asset will be converted to the second currency ONLY using the exchange rate as of the assets acquisition. This is only for reporting purposes, and it is NOT recommended for financial statement translation or for serious asset tracking in another currency. For those cases we strongly recommend creating another book, with the required currency. The results of using a second currency will never be the same as using a second book with another currency, which will have a perspective 100% orientation to the second currency, so it can be analyzed in depth, and can therefore be used for Financial Statement Translation.

Apply inflation adjustment for this book This option specifies whether or not inflation adjustment should be applied to this book. If that is the case, additional fields and calculations will be executed, but the standard fixed assets fields calculated without this option remain the same.

Important

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Revaluation (Inflation Adjustment) Ledger Some companies need to post the Inflation Adjustment general ledger effects to a GL Ledger other than the main ledger. Most companies use the same ledger Base GL Ledger.

Revaluation start period This period is the period in which the module will begin to apply inflation adjustment to Assets within this book.

Use Currency exchange rate for inflation

This option specifies whether or not you will use currency exchange rates for inflation, applied to this book.

Currency Rate Type This is the Currency Exchange Rate type that the Book will use to apply inflation adjustment. Exchange rates must be defined in the Currency Manager (CM) module.

Use revaluation Zero values vs. Error This option can force the user to enter inflation adjustment values for EVERY period, otherwise an error will be triggered, and FA will not process the period for the book. The other way to do it is that the module will assume that if no values are specified, then a ZERO value will be assumed as the inflation index for a given period.


3.1.2. Miscellaneous Tables – Setup Step 2 In the normal course of doing business, no two companies have the same rules and operating procedures. This is the reason why any software product has to be adapted to the local environment.

If the User defined fields within each Solomon table do not meet company requirements and a solution can be found by using new tables to the Solomon data base, then this can be done using the XT010 - Miscellaneous Tables Definition and XT020 - Miscellaneous Tables Maintenance Screens.

These screens create simple lookup tables and possible values for the FA module or for any other Solomon module and maintain the values for the dynamic miscellaneous tables created in the XT010 - Miscellaneous Tables Definition screen.

The tables may be updated and consulted just as if they were original Solomon tables.

FA module uses 5 tables that have to be defined and initialized on these screens:

• Assigned - Person responsible for Assets.

• Location - The physical location where the assets will be kept.

• Make – User defined

• Organization – User defined

• Units – Units of measure for the Assets.

The values for these tables are maintained in the XT020 - Miscellaneous Tables Maintenance screen.


3.1.2.1. Miscellaneous Tables Definition This screen creates simple lookup tables and possible values for the FA module or for any other Solomon module. The lookup feature (F3) can be added to any User Field using the Customization Manager. Before defining a miscellaneous table using the XT010 - Miscellaneous Tables Definition Screen, its structure must be clearly defined: • Definition of the table and its description. • Data objects (Fields) of dates, if any (up to 2). • Data objects (Fields) numeric, if any (up to 2). • Data objects (Fields) text type, if any (up to 2). • Possible values (PV) for the text type data objects. To create a miscellaneous table: • Open the XT010 - Miscellaneous Tables Definition Screen in the FA module. • Enter the table’s unique identifier and its description. • Enter the date type data object (up to 2 date type data objects), if applicable and

select the Show Date 1 and Show Date 2 boxes, to show the data on screen. If the table has no dates then deselect the relevant boxes.

• Enter the numeric type data object (up to 2 numeric type data objects), if applicable and select the Show Number 1/ Show Number 2 boxes, to show the data on screen. If the table has no numeric values then deselect the relevant boxes.

• Enter the text type data object (up to 2 text type data objects), if applicable and select the Show Text 1/ Show Text 2 boxes, to show the data on screen. If the table has no text, then deselect the relevant boxes. Enter the Possible Values (PV) of the text type.

• Press the Create Cibermaxima Fixed Assets required tables to create the new table • Once the table has been created, use the XT020 - Miscellaneous Tables Maintenance

Screen to enter data.

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Number Title 1 Name of the first numeric type field to be included in the table. Alpha numeric, 30 characters.

Show Number 1 If this option is selected, the first numeric file will be shown on screen.

Number Title 2 Name of the second numeric type field to be included in the table. Alpha numeric, 30 characters.

Show Number 2 If this option is selected, the second numeric file will be shown on screen.

Text Title 1 Name of the first text type field to be included in the table. Alpha numeric, 30 characters.

Show Text 1 If this option is selected, the first text file will be shown on screen.

Text Title 2 Name of the second text type field to be included in the table. Alpha numeric, 30 characters.

Show Text 2 If this option is selected, the second text file will be shown on screen.

Text PV 1 Possible values for the first text type field. You may use the (F3) function.

Text PV 2 Possible values for the first text type field. You may use the (F3) function.


Create Cibermaxima Fixed Assets required tables The process triggered by this button will create the required miscellaneous tables used for normal operation.

3.1.2.2. Miscellaneous Tables Initialization The XT020 - Miscellaneous Tables Maintenance screen permits maintaining values for the miscellaneous tables previously created in the XT010 - Miscellaneous Tables Definition screen. As far as the FA module implementation is concerned, the Location and Unit tables must be populated at this point.

At least one Location and one Unit must be created. Locations are typically used as the physical location where the assets will reside, examples of locations could be: Office nbr, Warehouse X, Meeting room, etc.

Units are the physical unit of measure for Assets, Pounds, Inches, Units, Gallons, etc. FA tracks assets that contain multiple units (arrays), which can be in different physical locations within the same assets. Example: lamps, phone extensions, chairs, etc.

You could define just one asset that consists of 20 telephone units, located at different Locations. FA will track asset quantities per location, and allow the transfer of units between locations.

Partial disposal of units is supported. You may also make improvements that increase the quantity of an asset.

To enter data in a new table: • Open the XT020 - Miscellaneous Tables Maintenance Screen in the FA module. • Using the F3 function, select the table in which you wish to enter data.

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Text 1 Enter the first text value, if applicable, that relates to a table item

Text 2 Enter the second text value, if applicable, that relates to a table item


3.1.3. Completing the Fixed Assets Setup Screen – Setup Step 3

The Fixed Assets FA950 – Fixed Assets Setup Screen, will allow you to configure and adapt the module to the functional structure of any given company.

Some of the information on this screen will be able to be changed once the Fixed Assets module is in use. These values will control processes that take place within the module and are designed to speed up data entering and reduce the possibility of errors.

Before starting regular use of the module identify and define the information needed to configure it:

• Main Book. This Book should have been predefined in the FA180 – Book Maintenance Screen.

• Use of option to post to General Ledger.

• Rate of Exchange to be used. This should be predefined in the Solomon Currency Manager (CM) module.

• Whether depreciation is going to be calculated in the disposal period of an Asset.

• If inflation adjustment is going to be calculated and applied (revaluation):

o Within the period of disposal of the asset.

o When the asset is totally depreciated. o Using the Net Value of the asset.

• Create multiple assets in the Accounts Payable module from the line detail of the invoice.

• Using cost distribution of depreciation among Sub-accounts, when assets are shared among the Sub-accounts.

• Crosscheck and validation capability of Accounts, Sub-accounts and combinations, preceding the depreciation process.

• Automatic generation of Asset numbers and definition of the auto numbering schema.

• If there are multiple companies, determine if the accumulated depreciation of an

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Main Book Main Book ID. The Main Book is the book that will match the General Ledger main Ledger.

GL Posting Option Options are Detailed or Summarized. We strongly recommend using the summarized option if there are a lot of assets to process, since the FA Module will keep full details of the Debits and Credits by asset in its own tables, (xFATran). These details can be viewed in the FA General Ledger Transaction Screen, in reports or within the OLAP Cubes.

Currency Rate Type in this module This is the currency exchange rate type to be used by the FA module. Rate Types must be defined in the Currency Manager (CM) module.

Last Document Ref Number This is the last document number used by the FA Module. This number is unique in the database, which implies that multiple companies will share this number sequence.

When disposing of Assets apply depreciation in disposal period When active, depreciation will be applied to the disposal period, before the Asset is disposed of. Otherwise FA will dispose of the asset and no depreciation is calculated.

When disposing of Assets, apply inflation adjustment in disposal period When active, inflation adjustment will be applied to the disposal period, before the Asset is disposed of. Otherwise FA will dispose of the asset and no inflation adjustment is made.

Default to Create Multiple Assets from AP Voucher lines depending on QTY Activate this option if you want to create multiple assets in the Fixed Assets module, using the Qty field from the line detail of invoices in the Accounts Payable (AP) module.

Check and validate Accounts, Sub-Accounts and combinations before processing depreciation When active, FA will NOT allow processing if there are any inconsistencies in the accounts, sub-accounts or combinations. An example of a source for such


inconsistencies could be that the GL Module will allow deactivating an account even if it’s in use by the FA Module.

Use Sub-Account distribution (Auto-Allocation) for depreciation expense (When sharing Assets between Sub-Accounts) Activate this option ONLY if you are sure that the company will need to allocate depreciation expenses between different sub-accounts for a same given Asset. (One Asset shared by several sub-accounts).

Apply revaluation after the asset is completely depreciated

When this option is active, FA will calculate and apply inflation adjustment to assets that have been totally depreciated.

Calculate API with Net Asset Value Activate this option when you need FA to base the Inflation adjustment on the Net Asset value of the previous period.

Exchange accumulated depreciation on Inter-company When this option is active, FA will split the accumulated depreciation of an asset among multiple companies. FA Multi-Company module must be activated.

Post in processed period When this option is active, it tells the module that the depreciation document will be posted to the General Ledger in the period of process. Only Sysadmin user has permission to roll back When these options are active, it tells the module that only when a user is logged into Solomon as the sysadmin user can a roll back be performed.

Asset auto-numbering Options are:

• No auto numbering. User must enter asset IDs manually. (alpha numeric, maximum 25 Characters)

• From setup. All Assets across the database share the same sequential numbering. (alpha numeric, maximum 25 Characters)

• From Class with optional prefix. This option allows separate numbering sequences by class, and optionally with a prefix that identifies the Asset with the


class. This is the recommended option. (alpha numeric, maximum 25 Characters) (Prefix alpha maximum 5, remainder maximum 20 Characters)

In either option, the Asset ID’s are unique across the application database. You cannot create 2 assets with the same ID even in different companies if they are in the same database.

Last Asset Number This field holds the last Asset number, ONLY when the numbering schema is activated on Setup.

Update Last Asset Number This button will update the last asset number in the Class. You should never have to use this option.

Reset Data Pressing on this button will delete all the information contained in the module, in order to reenter the data into the module.

Search Accounts Provides a look up screen for the General Ledger chart of accounts

Important


3.1.4. Creating Asset Classes – Setup Step 4 Small companies with few fixed assets may only need to use one set of criteria to determine and configure the types of assets that they manage and control. Larger companies that have a wide variety of fixed assets can have multiple sets of criteria that need configuring and identification. Fixed Assets are configured by what is called Asset Classes. A Class is a logical and not physical collection of fixed assets within the company. The purpose of grouping these assets is to have control over accounting, and reporting by classes. Specifying criteria to determine a Class will define which Assets are included within it By simply assigning a new asset to a particular Class, it will inherit a defined configuration for that Class. Configuring includes, for example, the type of asset, depreciation method, accounts affected, Useful Life, IRS Class etc For each company created in the Fixed Assets module (if the Multi-Company module has been purchased), multiple Asset Classes can be defined. By creating different Asset Classes you can achieve better control over asset management and the way you mange reports. Using second level logical collections, you can create Sub-Classes within the Class that will grant greater flexibility in generating reports and cubes within the Fixed Assets module. Creating Asset Classes will allow greater precision in processes such as: • Classifying and ordering Assets. • Generating Reports and Cubes. • Physical Counts. • Calculating Depreciation. • Asset Inquiries. • Asset Improvements and Disposals. • Overall changes to Assets of a particular Class.


To Create a Class: • Open the FA120 – Asset Class Maintenance Screen. • Enter the asset class code (alpha numeric, 10 characters) and its Description. We

recommend categorizing and coding the Class codes beforehand, taking into account that the codes should be alpha numeric and mnemonic in relation to the asset belonging to the Class and the criteria that groups them.

• Click on the General 3.1.4.1. General Information Once on the General Tab: To configure the General Information for the Class: • Select the Asset Type for the Class: Regular Assets, Prepaid Expenses or Equity. • If you have previously selected the auto-numbering option for Class Prefix on

configuring the Fixed Assets FA950 – Fixed Assets Setup Screen, you may enter the prefix that corresponds to the Class. This specification given to the Class will instruct the Fixed Assets module to automatically assign the assets belonging to this Class the prefix and the consecutive number. This will allow sequential numbering particular to a Class.

• Select the Depreciation Options that could be used for assets belonging to the Class. If none of these options are selected, the Fixed Asset module will default all assets to those assigned to the Class, for each Book.

• For each Book defined in the Fixed Assets module, enter the Default values for Assets belonging to this Class: Depreciation Method, Life Time in periods and Conventions for calculating Depreciation. If user defined Depreciation Methods are used, indicate those here. These methods should have been predefined in the FA160 – Custom Depreciation Methods Screen. If the Depreciation method used for this Book uses an optional factor or parameter (Declining Balance Factor, for example), introduce its value.

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numbering sequences by class with a prefix that identifies the Asset with the Class. This is the recommended option.

The Asset ID’s are unique across the application database. You cannot create 2 assets with the same ID even within different companies if they are in the same database.

Depreciation Options • The depreciation methods can be changed in Assets within the Class. If this

option is inactive users will be forced to use the default depreciation method for the Class.

• The Depreciation parameters can be changed in Assets within the Class. If this option is inactive users will be forced to use the default parameters (Asset Life, etc.) of the Class.

First Month Options • Apply depreciation in the activation period. With this option active FA will

depreciate Assets in the same period they are activated. • Apply depreciation in the next period the Asset is activated.

The Activation Period is the period when the Asset becomes active for its purpose in the company, this triggers depreciation initiation for this Asset. It is defaulted to the invoice date, but can be initiated after the invoice date for those cases where the Asset is acquired but is still not placed in service. There is also the Capitalization Period. That is the period when the FA module will create the general journal entry to debit (Increase) the Asset account, and decrease the Asset Acquisition clearing account. This is also typically done for the same period as the Invoice Date or Acquisition Date.

Book ID This identifies the Book to specify default details concerning the Asset that will belong to this Class.

Important

Important


Depreciation Method Select the default depreciation method for the Asset that will be created in this Class for each Book. The Options are:

• Sum of Year Digits. • Custom. Requires a Custom method definition. Use FA160 - Custom

Depreciation Methods Screen • Straight Line. • Do Not Apply. Do not depreciate. Example: Lands, Terrains. • Product Units. Monthly depreciation rate will be based on units produced, or

cycles used. This Depreciation Method must have been predefined in the FA150 – Production Units Methods Screen.

• Declining Balance (Excel). Declining Balance according to MS Excel Formula. • Converted Declining Balance. • Declining Balance with Salvage. • Simple Declining Balance. (Traditional) • MACRS GDS. (Declining Balance according to IRS/ General Depreciation

System) • MACRS ADS (Declining Balance according to IRS/ Alternate Depreciation

System) • Straight Line with Mid-Year Convention. (German GAAP)

Life Time Useful Life for the Asset. FA will depreciate the Asset for this amount of periods, or until the Book Value reaches Residual Value. If the asset is perfectly balanced with its depreciation method, then when the Asset has been depreciated for the “Life-Time” number of periods, the Asset’s Book Value equals Residual Value. But if the Asset has changes, or if the Asset was imported with inconsistent initial values, then the Book Value could reach the Residual Value at a different time depending on the life time and depreciation method. Also called Useful Life (From US Tax Perspective). An estimate of how long an item of property can be expected to be usable in trade or business or to produce income.

U.S. Convention Under MACRS, (US Tax Methods) averaging conventions establish when the recovery period begins and ends. The convention you use determines the number of months for which you can claim depreciation in the year you place property in service and in the year you dispose of the property.

• The Mid-Month Convention.


Use this convention for all nonresidential real property and residential rental property. Under this convention, you treat all property placed in service or disposed of during a month as placed in service or disposed of at the midpoint of the month. This means that a one-half month of depreciation is allowed for the month the property is placed in service or disposed of.

• The Mid-Quarter Convention.

Use this convention if the mid-month convention does not apply and the total depreciable bases of MACRS property you placed in service during the last three months of the tax year (excluding nonresidential real property, residential rental property, and property placed in service and disposed of in the same year) are more than 40% of the total depreciable bases of all MACRS property you placed in service during the entire year. Under this convention, you treat all property placed in service or disposed of during any quarter of the tax year as placed in service or disposed of at the midpoint of that quarter. This means that 11/2 months of depreciation is allowed for the quarter the property is placed in service or disposed of.

• The Half-Year Convention.

Use this convention if neither the mid-quarter convention nor the mid-month convention applies. Under this convention, you treat all property placed in service or disposed of during a tax year as placed in service or disposed of at the midpoint of the year. This means that a one-half year of depreciation is allowed for the year the property is placed in service or disposed of.

Custom Method ID Select the identifier of the custom depreciation method for the Asset that will be created in this Class, for each Book. This User defined Method of Depreciation has to be predefined in the FA160 – Custom Depreciation Methods Screen.

Optional Parameter (e.g. Declining Balance factor) Optional parameters for using depreciation methods other than Linear.

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Asset Account (Asset) This is the GL Account that holds the Asset Acquisition Cost.

Accumulated Depreciation Account (Asset) This is the GL Account that holds the Accumulated Depreciation of the Asset, but on the credit side (Negative Balance).

Depreciation Account (Expense) This is the GL Account for posting the Depreciation Expense of the Asset.

Profit/Loss on Disposal (Income/Expense) This is the GL Account for posting the difference between the Book Value and the Disposal Value when an Asset is disposed of. Could be profit or loss, and based on this, FA module will determine the account to use (Profit or Loss).

Fixed Asset Acquisition Account (Asset) (Also called “Acquisition Clearing Account”)

This is the GL Account that should be debited when an asset is acquired notwithstanding the module to which it is assigned. The Acquisition can come from Purchasing, Accounts Payable, General Ledger or even Project Controller, but in all cases you must debit this account and NEVER the Asset Account directly. FA module will clear automatically the amount from this account when the Asset is “Capitalized” and when the event takes place in the Capitalization Period specified in the Asset Maintenance. Typically this is the same as the Invoice Date, but not in all cases.

FA module will credit always the Acquisition Account and debit the Asset Account with the Acquisition Cost Amount, in the Capitalization Period; even if the Asset was created directly in the FA module. So the user should check for any outstanding amounts in the Acquisition Account in order to ensure that all amounts are properly accounted for. Whenever an Asset is created, the corresponding GL entry is created in the Capitalization Period specified in the Asset:

Important

Important


Debit: Asset Account / Credit: Acquisition Account

Asset Disposal Account This is the GL Account for posting the Disposal Value when an Asset is disposed of or the Partial Disposal Amount when a Partial Disposal takes place. Example of GL entry when an Asset is fully disposed:

Asset Acquisition Cost: $1000 Accumulated Depreciation: $600 Disposal declared value (Could be sell price): $500

Account Debits Credits

Debit Asset Accumulated Depreciation 600

Debit Asset Disposal Account 500

Credit Asset Account 1000

Credit Disposal Gain Account 100

Example of GL entry when an Asset has a partial disposal:

Asset Acquisition Cost: $1000 Accumulated Depreciation: $600 Partial Disposal value: $80 FA module calculates: Depreciation percentage: 600/1000 = 60% Accumulated depreciation for the partial disposal: 60% x 80 = $48





Important


Note that the disposal value has a TOTALLY different meaning in the partial disposal compared to the full Asset disposal. For the partial disposal, the value is an amount relative to original Asset acquisition cost.

Fixed Asset Inter-Company Transfers This is the GL Account for posting the Transfer Value when an Asset is transferred from one Company to another. 3.1.4.3. Inflation/Revaluation Accounts Pressing on the Inflation/Revaluation Accounts Tab of the FA120 – Asset Class Maintenance Screen will show the group of accounts that will be affected by inflation adjustment operations performed on fixed assets belonging to the Class being created. These are not default accounts though they can be optionally used and only for those Books that have the Inflation Adjustment option activated. All these accounts must have been predefined in the General Ledger module. For more information on Inflation Adjustment, go to the Inflation Adjustment module at the Setting up Cibermaxima add-on Modules section of this manual. To configure accounting information in respect of Inflation Adjustment for the |Class: • Select the Inflation/Revaluation Accounts Tab in the FA120 – Asset Class

Maintenance Screen. • Enter the corresponding Inflation/Revaluation accounts: Asset Revaluation Account,

Revaluation results Account, Accumulated Depreciation on Revaluation Account and Depreciation Expense on Revaluation Account. These accounts must have been previously defined in the General Ledger.

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Sub-Class ID We recommend using a self-explanatory Alpha-Numeric ID (up to 15 characters), that will help you to identify the Assets’ Sub-Class in screens, reports and OLAP cubes.

Sub-Class Description Description of the Sub-Class.


3.2. Additional Cibermaxima Fixed Assets Tables

3.2.1. Table-Based Depreciation Methods These are the MACRS methods that are based on amendments to the Accelerated Cost

Recovery System or ACRS.

The Tax Reform Act of 1986 created a series of changes to the way depreciation is

calculated for all Fixed Assets acquired after the December 31st, 1986. The Tax Reform

makes significant changes, such as:

• Extending the period for Cost Recovery.

• Changes to the Declining Balance Factor Tables.

• Use of the Straight Line Method to calculate the cost recovery rate.

This methodology is mandatory for the majority of Fixed Assets acquired after

December 31st, 1986.

The Modified Accelerated Cost Recovery System introduces various conventions:

• Half Year depreciation for assets with 3, 5, 7, 10, 15, 20 and 25 year recovery rates.

This calculation is also taken into account for the fiscal year of the asset’s disposal.

This convention came into effect on January 30, 1991.

• Mid-Month Depreciation for assets with 27.5, 31.5 and 39 years recovery. This

depreciation is also calculated in the months of acquisition and disposal of the asset.

• Mid-Quarter depreciation, for those cases where more than 40% of the asset’s

depreciable value is placed in service in the last 3 months of the fiscal year. Under

this convention, annual deductible depreciation is multiplied by a specific rate,

depending on the quarter the asset was placed in service.

• Assets with 3, 5, 7 or 10 year recovery are generally depreciated using the 200%

(ADS) declining balance method. Assets with 15 or 20 year recovery use the 150%

(GDS) declining balance method and assets having 25 years or more of useful life

use the 100% straight line method.


Creation of the MACRS method tables is done using the Fixed Assets module FA140 –

Table-based Depreciation Methods – U.S. Screen.

To create a MACRS table:

• Open the FA140 – Table-based Depreciation Methods – U.S. Screen.

• Select the Depreciation Method: ADS or GDS.

• Enter the number of periods (months), the years of Useful Life that apply to the

method.

• Enter the declining balance Factor value to apply (200%, 150%, etc.)

• Select the Convention to be used (half-year, mid-month, etc.)

• Also select when, during the fiscal year, the asset was placed in Service (First

month, Second Quarter, etc.).

• Enter the percentage value to be applied in the depreciation calculation for each

year, or enter previously established values from a predefined text type file.

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Under this convention, you treat all property placed in service or disposed of during a tax year as placed in service or disposed of at the midpoint of the year. This means that a one-half year of depreciation is allowed for the year the property is placed in service or disposed of.

• The mid-month Convention. Use this convention for all nonresidential real property and residential rental property. Under this convention, you treat all property placed in service or disposed of during a month as placed in service or disposed of at the midpoint of the month. This means that a one-half month of depreciation is allowed for the month the property is placed in service or disposed of.

• The mid-quarter Convention. Use this convention if the mid-month convention does not apply and the total depreciable bases of MACRS property you placed in service during the last three months of the tax year (excluding nonresidential real property, residential rental property, and property placed in service and disposed of in the same year) are more than 40% of the total depreciable bases of all MACRS property you placed in service during the entire year. Under this convention, you treat all property placed in service or disposed of during any quarter of the tax year as placed in service or disposed of at the midpoint of that quarter. This means that 11/2 months of depreciation is allowed for the quarter the property is placed in service or disposed of.

Place in Service Select the month or quarter of the year in which the asset will be placed in Service and the depreciation process started. Total Percentage Shows the sum of percentages shown in the table for each year. Year Enter the annual sequential value that applies to the method. Percentage Enter the percentage value in calculating the asset’s depreciation for that specific year.


3.2.2. Production Unit Depreciation Methods Various methods have been developed to estimate the depreciation expense for tangible

fixed assets.

Annual depreciation varies according to the method used but, total depreciation for the

useful life of the asset cannot go beyond the Rescue Value. Some methods of

depreciating result in larger expenses during the initial years of the asset life cycle,

which will affect net profits for the period. Care must be taken in evaluating all

variables before selecting the method of depreciation.

The Units Produced Method of Depreciation of an asset is based on the total number of

units used, or the units that can be produced by an asset, or the number of hours the

asset will be in production, or the number of miles used up according to the equation:

Cost – Rescue Value

----------------------------------------------- = Depreciation Cost of Unit

Production Units used, hours or miles.

Depreciation Cost of Unit * Production Units used, hours or miles during the period.

= Depreciation Cost for Period.

For example, suppose a truck has traveled 75,000 miles. The Acquisition Cost is

$10,000 and the Rescue Value is $1,000. The cost per mile is:

$10,000 – $1,000

--------------------------------------- = Depreciation Cost is US¢12 a mile.

75,000 Miles.

To determine the annual depreciation cost, you multiply cost per mile (US¢12), by the

number of miles traveled in that period. Annual depreciation for the truck, during a five

year period, is calculated according to the following table:


Year Cost per mile X Miles Annual Depreciation

1 US¢12 20.000 $2,400

2 12 25.000 3,000

3 12 10.000 1,200

4 12 15.000 1,800

5 12 5.000 600

75.000 $9,000

The Production Unit Depreciation Method distributes the depreciation cost fairly. The

depreciation cost is the same for each unit produced, whether it is hours used or miles

traveled, during the fiscal period.

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Units produced or used for each period.


3.2.3. Custom Depreciation Methods

There may be organizations that require use of non traditional depreciation methods. In

those cases the company can create its own depreciation methodology. The Fixed

Assets module supports these types of processes.

To create these alternate depreciation methods, the FA160 – Custom Depreciation

Methods Screen, is used.

In this screen you can define custom depreciation values based on percentages or unit

ratios of depreciation for each period. Note that the values are a simple sequence, and

no particular periods are specified, since the period is relative to the placement in

service period for the Asset. In other words, the first value specified in the grid would

be the percentage or units ratio relative to the Total Units to depreciate in the first

period you place the Asset in service.

To create a Custom Depreciation Method:

• Open the FA160 – Custom Depreciation Methods Screen.

• Enter a Custom Method ID code for the Method and a brief description for it.

• Introduce in sequence, the corresponding depreciation values for each period in

which the asset will be depreciated.

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3.2.4. Inflation Rate Maintenance

In some way or manner all societies today have suffered the consequences of Inflation,

reflected by the loss of money’s purchasing power. In an economy that has low

inflation, goods and services maintain their prices in relation to moneys’ purchasing

power. In an Inflationary Economy, the value of goods and services do not maintain

their relationship with the purchasing power of the economy’s currency.

Dornbusch & Fisher (In Macroeconomics, Fifth Edition, Mc Graw-Hill Publishers,

1992, p-11), define inflation in the following terms:

“The inflation rate is the percentage increase in prices during a given period of time”.

Inflation is also the general increase of prices within the economy, because an Asset

purchased a year ago at one price, will almost surely not maintain that same price over a

period of time.

As previously mentioned, inflation is measured by the percentage increase in price

indexes.

Price Indexes are used to measure how much the goods and services basket has

increased from one period to another.

Example: If the price of an Asset on 12/31/2003 is US$ 4,630 and on the 03/31/2004 the

price has increased to US$ 5,040, the relative change in price is:

5,040

% = (------------ - 1) * 100 = 8.86 %

4,630

The Price Index on 03/31/2004 would be:

5,040

---------- * 100 = 108.86

4,630


If on 04/30/2004, the Asset increased in price to US$ 5,270, we would have the

following relative change:

5,270

% = (------------ - 1) * 100 = 13.82 %

4,630

In this second case the Price Index would be:

5,270

---------- * 100 = 113.82

4,630

12/31/2003 has been used as the base period, where the Price Index has been established

at 100, as this is the period that will be used for comparison. Assuming the Consumer

Index Prices or CIP, you obtain the following results:

Period Price Index

12-2003 100.00

03-2004 108.86

04-2004 113.82

To calculate inflation or the increase for the four month period, January-March 2004,

the following formula is used:

113.82

Inflation JAN 2004-MAR 2004 = (------------- - 1) * 100 = 13.82 %

100

Which coincides with the initial definition, that inflation is the percentage rate increase

in price levels for a given period established by Dornbusch y Fisher.

To calculate Asset Inflation for the month of April for example the following formula is


used:

113.82

Inflation for APR 2004 = (------------- - 1) * 100 = 4.56 %

108.86

That is to say Asset Inflation for the month of April was 4.56 %.

Another important concept related to CIP’s is the so called Correction Factor; which is

merely the decision of two CIPs. For the indices shown in the example, the Correction

Factor for March2004/December2003 would be:

CIP MAR2004 108.86

------------------ = ------------- = 1.09

CIP DEC2003 100.00

This Correction Factor is used as a base to restate a historic figure pertaining to previous

periods.

Suppose the CIP for June 2004 was 115.74 and that in March 2004 construction

equipment was bought for US$ 40,000. You wish to establish the equipment’s Restated

Value for 06/30/2004. Using the existing CIPs you can make the following calculation.

115.74

Restated Value = 40,000 * ------------- = 42.528.02

108.86

Thereafter, the adjustment to express the Historic Value of the equipment acquired in

March of 2004, in equivalent currency for June 2004, will be:

Restated Value – Historic Value = 42,528.02 – 40,000.00 = 2,528.02

The effect of Inflation on Financial Statements will then be US$ 2,528.02, as a

consequence of the variation in the general price levels.

To define the CIPs in the Fixed Assets module in the currency corresponding to a

specifi

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Fiscal Year

This is the fiscal year to which the Index Prices belong, that will appear in the following

table.

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Indicates the period to which the CIP belong.

Real Index (Relative to previous period)

Value of the Price Index calculated for that period of the Fiscal Year.


3.2.5. Expense Sub-Account Distribution

In many cases use of a Fixed Asset is distributed among a group of Cost Centers or Departments (Sub-Accounts) within a company (e.g. a photocopier used by various departments). Depreciation is a process that distributes value loss of Fixed Assets which are subject to depreciation. In these cases, the depreciation expense must be shared equally and proportionally distributed between the Sub-Accounts that share the Asset. This proportional distribution between Expense Sub-Accounts for Asset Depreciation is done using the FA190 – Sub-Account Distribution Maintenance Screen, of the Fixed Assets module. To create a Distribution Table between Sub-Accounts: • Open the FA190 – Sub-Account Distribution Maintenance Screen. • Select the Asset whose depreciation expense is going to be distributed, enter the

period from which the expense distribution will start and identify the table by means of a short description.

• Select each Sub-Account and the percentage/units in proportion to the total depreciation expense corresponding to each Sub-Account within the distribution.

• Save the Table using the Solomon Tool Bar.

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Sub-Account Enter the Sub-Accounts participating in the Asset Depreciation Expense distribution.

Units Ratio Units or percentages that correspond to the Sub-Accounts participation in the distribution.


3.3. Setting up Cibermaxima add-on Modules

3.3.1. Inflation Adjustment Module The Inflation Adjustment (IA) module is an important functional component of the Fixed Assets module that companies can use to manage their Fixed Assets Inflation Adjustment in a timely and effective manner. In regards to Financial Statements Fixed Assets are classified as Non Monetary Accounts. Loss of purchasing power, due to inflation, is lessened as a consequence of keeping these accounts that protect from inflation. Such is the case for non monetary accounts that involve Fixed Assets. These accounts generally reflect increases over and above those created by inflation in the economy. Classifying accounts as Monetary and Non Monetary are the basis for Inflation Adjustments to be carried out in the Financial Statements. Only Non Monetary accounts should be restated, as they have different historic cash values in times of inflation in comparison to previously dated Financial Statements. As a general rule, any account that has any sort of readjustment clause in respect of inflation should be considered as a Non Monetary account and will be subject to the adjustment specified in such a clause. Some cases in point are: • Advances on account for contracts. • Inventories in general. • Fixed Assets. • Rent paid in advance. • Office Supplies. • Differed charges. • Capital or Equity. All Fixed Assets accounts may be classified as Non Monetary, as they usually increase in value with respect to the economy’s inflation. Complementary accounts to each of Fixed Asset account should also be classified as Non Monetary, as in the case of Accumulated Depreciation and Accumulated Amortization.


According to above, the Depreciation Expense that is included in the Financial Results should be classified as a non momentary account. Non Monetary Account GENERAL BALANCE

Is related to a non monetary account and thus the Fixed Asset is also a non monetary account.

----------------------------------------------------------------------------------------------------------

FINANCIAL Is related to non monetary accounts of

RESULTS the Fixed Asset and Accumulated

Depreciation, and as such is a non

Monetary account.

Non Monetary Assets are accounts that maintain or increase in actual value in periods of inflation and must be adjusted for inflation to express its higher value in respect of the nominal value in which they are expressed in historic accounting.

Calculations involved in this process of Inflation Adjustment are:

• Determining the Customer Index Price (CIP) for each fiscal period (FA170 – Revaluation Rates Maintenance Screen).

• Determining the Fixed Assets Adjusted Value.

• Determining Accumulated Depreciation to date (FA Module).

• Determining the Adjusted Accumulated Depreciation.

• Generating the journal entries to Accounting (FA Module):

o Purchase of the Asset.

o Depreciation for the period.

• Generating journal entries adjusted for inflation:

o Adjustment to the Cost, where consideration must be given to the difference

Fixed Asset

Accumulated Depreciation

Depreciation Expense


between the restated value through the CIP’s and historic value (Accumulated AI).

o Adjustment of the Accumulated Depreciation.

o Adjustment to the Depreciation Expense.

These calculations, of course, will also take into account the monetary value on the date that the adjustment is calculated.

All non monetary accounts affected by inflation adjustment must have been predefined in the General Ledger module. Although its use is optional within the Fixed Assets module, if the Inflation Adjustment module is used, these must be determined by each Asset Class and must not be accounts that are defined by default.


Uploading Fixed Asset Data

In this chapter we will show how to fill, import, generate and validate Fixed Asset information.

nloading fixed asset data completes the implementation process of the Cibermaxima Fixed Assets Module and must be completed before using Cibermaxima Fixed Assets in a live environment. The uploading process for

fixed assets data comprises a series of easily completed steps, but must be carefully executed, as some of them are irreversible once the FA module goes live.

Chapter

4

U


4.1. Filling in the Cibermaxima Excel Datasheet Once the Fixed Assets and its component modules have been configured, and the Books, Master Class Tables, additional and miscellaneous tables have been created, the following steps must be followed: • Filling in and adapting the FA Asset Import Information Excel Datasheet. • Importing the company’s Asset information to the Asset Master Table. • Generating the Initialization Documents with the opening values for each Book

defined. • Checking these Documents and their release to the General Ledger module. • Validate the Opening Values using the OLAP Cubes or asset reports. The FA Asset Import Information Datasheet is a special Excel Spreadsheet provided with the FA Package, which is specifically designed for importing the Asset Master Table and its opening values for each Book. These values are the Number of Depreciation Periods and Accumulated Depreciation to date for each Asset in the specific Book Currency. These values are commonly denominated Initial Depreciation Balances.

The department of the company responsible for completing the Datasheet must make sure that the data contained in the Datasheet is correct. Complying with these procedures will minimize procedural errors and will avoid reprocessing import information. This Sheet has special validation functions, and will highlight in different colors the different types of inconsistencies or missing data.

The Excel Spreadsheet has several sections of columns for the opening values of Assets within each Book. These sections have the same columns, because each Book needs its own initialization values, and are highlighted in different colors for easy visualization.

Important

Important


You should have as many sections as books you plan to use in FA module. The initialization values are the Number of Periods Depreciated and the Accumulated Depreciation in the Book currency. These values should be from ONE period BEFORE the Initialization Period for the given Book.

Asset ID in the Excel Sheet must be MANUALLY created by the user if no auto numbering options are in effect. If the auto-numbering is set by Class with a prefix, or by the Set up screen you may leave these fields blank and the system will generate the Asset IDs automatically with the same mask (Number on zeros) as the one specified in the Asset Class or set up screen. Or you may enter them manually but make sure the starting numbers are correct in the asset class or set up screens before going live. If there is more than one company in the same database, keep in mind that asset numbering sequence is shared between companies, so a second company would continue from the last Asset ID ; also duplicate Asset IDs are not allowed in the same database even if they belong to different companies

Do not add or remove columns from the Spreadsheet, because the Import process will fail. There are groups of Columns for the opening values of each Book; there must be one section for each book in the Sheet therefore, add or remove groups to match the number of books you plan to initialize.

Important

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4.2. Importing the Excel Datasheet Once the Fixed Assets Excel Datasheet has been filled out and checked, it should be imported to the Fixed Assets module. This importing process through the FA Import Utility will have two effects: • It creates the Asset Master Table. • Creates one Initialization Document per Book. The Excel Datasheet as shown beforehand, will not be recognized by the FA Import Utility, as it only recognizes csv. files. To convert an Excel Datasheet to a csv. file you need to perform the following procedure: • All columns must be text type. • Delete Headings. • Save the Datasheet as a csv. file (fields separated by commas). We recommend always saving the last Excel Sheet used, in case you need to go back and repeat the process. To import the data contained in the Datasheet, the FA810 – Import Fixed Assets Data from Text File Screen, is used. If there are any errors in the import file, these will be displayed in the Log file. Should an error occur the import process will stop without having transferred any part of the file to the FA module. Only complete, error free files are allowed to be successfully imported. To import the data: • Open the FA810 – Import Fixed Assets Data from Text File Screen in the Fixed

Assets module. • Enter the csv. filename you created. • Enter the type of data to import, in this case Assets. • Enter the type of Log operation you wish to use: Log all transactions or only those

found with errors. • Click the Import text (CSV) file button to start the process.

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Log errors only When this option is chosen the Log will only reflect errors found.

Import text (.CSV) file Pressing on this button will initiate the importation process for the data contained in the csv. file.

View field legend Pressing on this button will show each field legend in the Log File, for the csv. file imported.


4.3. Generating, Validating and Releasing Information for the Initialization Document These processes are accomplished by using the Book Initialization Document screen (FA.160.00). This screen allows entering and/or releasing of the Book Initialization Documents. The import screen will create one document per book.

The release of this document is very important, because it will set the opening values of the Assets within each book, and should be ONE period before the Books’ initialization period.

If these documents are not entered or released, then FA will try to calculate the Assets’ initial values as of the Book Initialization Period and could take a long time, and may not be accurate, as it’s impossible to identify changes in life time, adjustments, etc.

The initialization values are the number of periods depreciated and the accumulated depreciation in the book currency. These values should be as of ONE period BEFORE the Initialization Period for the given Book.

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Status This is the Document Status. Choices are Hold, Balanced, Released, Partially Released and Completed. Completed should be the end status, if nothing goes wrong.

Document Handling Determines what FA will do with the document, once the user finishes with it, or closes the screen. • Hold: Will put the document on hold, and FA will ignore the document. • Release Now: The document will be released, and the Document Status should

then be “Completed”, FA will process this document and update the assets which can not be modified in the asset maintenance screen at this point.

• Release Later: Will check validations in the document, but FA will NOT release it, instead it will be placed in “Balanced” status, if everything is ok. This allows the possibility of reviewing it, and later releasing using this screen, or the screen “FA270 - Release FA documents”, by any other user. The assets are not updated therefore can be modified or corrected in the asset maintenance screen at this point.

• No Action: This option can be used to correct any errors made in the document.

Asset ID Asset ID. The document will NOT trigger an error if all the assets aren’t in the Document.

Asset Record Differentiator Should be ZERO for regular (Parent) Assets. This field is very important in the FA database schema as every improvement and partial disposal for a given Asset adds a record in the Asset Master Table with the SAME Asset ID, so this field differentiates records in the Asset Master Table (xFaAssets) with the same Asset ID. The number 0 is the main Asset, the number 1 would be the first improvement or partial disposal for the asset and the number 2 would be the second and so on.

Asset Record Type Could be a Master Asset, Improvement or Partial Disposal.

Number of Periods Depreciated These are the number of periods depreciated for a given Asset within the Book being initialized as per your import data sheet.

Life to Date Depreciation This is the accumulated depreciation for a given Asset within the Book being initialized


as per your import data sheet.

Created by User Code of the person that registered the document in the Book Initialization Document Screen.

Date Created Date in which the Document was registered.

Updated by User Code of the last person that updated the document in the Book Initialization Document Screen.

Last Update Date in which the Document was last updated.

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Working with Fixed Assets

This chapter will describe a typical monthly operation using the FA module and describe the process and inquiry screens. 5.1. Operations 5.1.1. Fixed Assets Workflow Process These are the recommended monthly procedural steps:

1. Enter new Asset acquisitions and Asset Improvements. This can be done directly using the Asset Maintenance Screen, and the Improvement Documents, or using the AP/GL Search Asset Acquisitions screen.

2. Enter Disposals and Partial Disposals for the period.

3. Enter Sub-account and Location Transfers for the period.

4. Process the period.

5. Launch the Asset History Cube and the Disposal Cube to verify the amounts. If there is an error, or you forgot something, Roll Back the period, enter the corrections and process again.

6. Create the GL Journal entries and review them. Release the GL Batch. The changes to the GL can be viewed from the Internal GL Transactions Screen FA090, or by launching the GL Posting Cube.

7. Close the period.

Chapter

5


Fixed Assets Workflow Process Type of Fixed Asset Operation

(New Asset, Improvement, Disposal, etc.)

Operation Registry Screens (FA110, FA280, FA010, FA040, FA030,etc.)

Generating Events against an Asset (When you release a transaction)

Updating the Fixed Assets Master Table (When you release a transaction)

Depreciating each Book within a period

Calculating Asset Depreciation

Updating Fixed Asset History

Generating GL entries for each Book

Releasing to Solomon’s GL Module


5.1.2. Incorporating an Asset As previously stated, Fixed Assets are tangible property used in the operation of a business that is not normally consumed in the course of business operation or production. They represent the investment in material such as: machinery installations, furniture and accessories, land, office buildings, equipment, etc. The Historic Cost of a Fixed Asset is generally taken as the basis to value it. This cost is measured by the cash value, or equivalent in cash, that is paid to obtain the Fixed Asset and prepare it for use. The purchase price, freight charges and installation costs of a Fixed Asset are considered part of its cost. The Cost must be used as the base on the acquisition date, because the cash value, or equivalent in cash, is a better measure of the Fixed Asset’s value at that moment in time. When a Fixed Asset is acquired, it will be Book posted at cost value, at the invoice price plus expenses accrued (transport, insurance, customs duties etc). In other words, all the expenses in respect of the asset bought are posted to that account. When building a factory you not only have to value the land and construction materials used to build it, but you have to take other expenditures incurred from the initial planning stage: ground studies and blueprints, engineering permits, architectural plans, workmen’s wages, etc. The process of incorporating an acquired Fixed Asset into the Fixed Asset Module is achieved in two ways: • Manually, by recording the asset directly into the Master Assets of the Fixed Asset

module, through the FA110 – Asset Maintenance Screen, or, • Automatic recording, through the Accounts Payable (AP) or the General Ledger

(GL) interfaces in the FA280 – Search Assets Acquisitions in GL/AP Screen.


5.1.2.1. Manual Registry

5.1.2.1. Manual Acquisitions

Manual recording of a Fixed Asset using the FA110 – Asset Maintenance Screen, can be

divided into various processes that correspond to each of the component parts of the

Screen:

• Main Information and Asset Acquisition.

• Book Depreciation information.

• Physical identification, Manufacturer and Asset Responsibility.

• Warranties and Insurance.

To record identification information and Acquisition details of the Asset, the following

data must have been previously established:

• Acquisition Account, for those instances where it is not the same account as the

Class acquisition account that will be assigned to the Asset. This account should be

predefined in the General Ledger module.

• Acquisition Sub-Account (entity to which the asset purchase will be charged) and

Asset Sub-Account (entity to which the asset belongs).These Sub-Accounts should

also have been predefined in the General Ledger module.

• Acquisition Details of the Asset: Invoice date and nbr., Purchase Order nbr.,

Receipt nbr., Purchase Currency. Currency should have been predefined in the

Solomon Currency Module.

• Purchase Price of the Asset, including transportation costs, customs, insurance, etc.

• Rescue or Residual Value that the Asset will have. That is, the final value that the

asset will have when use is discontinued. This is calculated by deducting the sales

expenses from the sale price, including dismantling and costs, if necessary.

• Asset Unit of Measure, Physical Location and original quantities of the Asset (from

the Parent Asset in case of Improvements).


• For those instances where the Asset is being incorporated into a specific Project, the

Project and Task to which the Asset belongs must be specified. Both entities must

be predefined in the (PA) Projects module.

To manually record main and purchasing information of an Asset:

• Open the FA110 – Asset Maintenance Screen of the Fixed Asset module and press

on the Purchase Tab.

• Enter the Class and Sub-Class of the Asset to be incorporated. These values should

be predetermined in the Class Master Table. Fixed Assets will assign the accounting

information and the relevant Book Class.

• If auto-numbering was not activated in the FA950 – Fixed Assets Setup Screen, the Asset ID must be entered for the Asset to be incorporated. We recommend that this coding be structured and predetermined and catalogued, following the rules for coding, which will help with future identification processes and the generating of reports. (alpha numeric, maximum 25 Characters)

•

• Enter the Asset description along with a short description for swift identification

that can be used for screens and reports that show a lot of information.

• Enter the Depreciation Start date and the Activation date for the Asset.

• Enter the Asset Sub-Account or press (F3), along with the Acquisition Account and

Sub-Account of the Asset to be incorporated. These Accounts and Sub-Accounts

should have been predefined in the Account and Sub-Account Tables in the General

Ledger.

• Enter the Invoice Date and Number, Purchase Order Number and the Receipt

Number with which the Asset was recorded.

• Enter the Currency ID for the purchase currency or press (F3). This currency must

have been predefined in the Currency Manager module.

• Enter amounts for Acquisition Cost and Residual Value for the Asset. Also include

the Unit of Measure, Original Parent Asset Quantity, and Physical Location (From

the Parent Asset if the acquisition is an Improvement).

• Indicate the effective Entry Period for incorporating the Asset.

• If the Asset is assigned to a Project, enter the Project Code and Task Code, or press (F3).

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• Using Setup. All Assets across the database share the same numbering sequence.

(Alpha Numeric, maximum 25 Characters)

• Using Class with prefix. This option permits separate numbering sequences by

Class, and to add a prefix that identifies the Asset with the Class. We highly

recommend using this option. (Alpha Numeric, maximum 25 Characters Total)

(Maximum 5 Alpha Characters Prefix, remainder maximum 20 Characters)

Short Description

Asset Short Description, Alpha numeric, 30 characters.

Show All Companies

Activating this option will show all Assets of all Companies when you perform a

lookup (F3).

Show Disposed Assets

Activating this option will show Disposed Assets when you perform a lookup (F3).

Class ID

Asset Class to which the Asset belongs.

Once an Asset has been part of a process then the Asset Class cannot be changed. Some

values are inherited from Class to Asset, but some aren’t. GL Accounts specified in the

Class cannot be changed in the Asset.

Sub-Class ID

Sub-Class ID for the Asset.

Description

Asset Description, Alpha numeric, 100 characters.

Status

Asset Status. Status options are Active or Disposed of.

Important


Start Depreciation (Activation Date)

This is the date when the Asset will be placed in service, and FA will initiate

depreciation of the Asset. This date will be placed in the corresponding period using the

date limits specified in the General Ledger Screen. The Activation Date can be after the

capitalization (Formal GL Acquisition) for those cases where the Asset is bought, but

has not yet been placed in service and is awaiting use within the company.

According to the IRS, you begin to claim depreciation when your property is placed in

service for either use in a trade or business or the production of income. The placed-in-

service date for your property is the date the property is ready and available for a

specific use. It is therefore not necessarily the date it is first used. If you converted

property held for personal use to use in trade or business, or for the production of

income, treat the property as being placed in service on the conversion date.

Capitalization Date (Asset/Acquisition Account)

This date will be placed in the corresponding period using the date limits specified in

the General Ledger Screen. The Capitalization Date initiates the FA generation of the

GL Entry for the acquisition that formalizes the acquisition from the GL stand point.

The FA Module is the only entity that should debit or credit the Asset and Accumulated

Depreciation Accounts in the GL. A similar procedure is used in the Inventory Module

where users should never debit or credit the Inventory Accounts directly. When an

Asset is acquired FA will debit the Asset Account IN THE CAPITALIZATION

PERIOD.

Asset Sub-Account

This is the GL Sub-Account which the Asset belongs to. This Sub-Account will be used

in conjunction with the Accounts from the Assets’ Class, such as Capitalization,

Important

Important


Accumulated Depreciation, Depreciation Expense, etc.

Once the Asset is part of a process, it is not possible to change the Sub-Account. A Sub-

Account Transfer Document must be created instead, using the FA020 – Sub-Account

Transfers. This document will transfer the balances in GL from the Asset and

Accumulated Depreciation Account from the old Sub-Account to the new one, in

respect of the Asset being transferred.

Acquisition Account and Sub-Account

The Asset Acquisition Account is defaulted from the Asset Class, and the Sub-Account

from the Asset itself. Typically the user doesn’t have to change this, except if the

Acquisition account is not the one from the Class. The Capitalization account will be

credited on the Capitalization Date (Period). See the “Capitalization Date” described

above.

Capitalization Dates and Start Depreciation Dates (and dates in general) are always

translated by FA into periods by checking the date limits specified in 01.950.00 -

General Ledger Setup Screen of GL module.

Invoice Date

This is the invoice date when the Asset was acquired. This is used for reference

purposes.

Invoice Nbr

This is the Invoice Number for the Asset acquired. This is used for reference purposes.

Purchase Order

This is the Purchase Order Number for the Asset acquired. This is used for reference

purposes.

Important

Important


Receipt Nbr

This is the Receipt Number for the Asset acquired/received. This is used for reference

purposes.

Currency ID

This is the Asset Acquisition Currency ID. Any Currency listed in the Currency

Manager (CM) module can be used.

The currency exchange rate for this currency and the currencies used in ALL BOOKS

must be available in Currency Manager (CM) module. FA will scroll backwards in time

from the current date until it finds the appropriate exchange rate.

Acquisition Cost

This is the Acquisition Cost for the Asset, in the Acquisition Currency. This will be the

initial Asset Value in the Books translated into each currency. If no currency exchange

rate is found, the cost for that particular book will be set to Zero. The Acquisition Cost

can be changed by book, in the second tab, so an Asset can have different Acquisition

Values in different Books, even within Books with the same currency.

Residual Value (Rescue Value)

Depreciation will be applied until the Book value reaches this Residual Value. This

value will be translated into each currency for each of the books. If no currency

exchange rate is found, the Residual Value for that particular book will be set at Zero.

The Residual Value can be changed by book, in the second tab, so an Asset can have

different Residual Values in different Books, even within Books with the same

currency.

Original Parent Asset Quantity

Original Asset Quantity for the Asset when it was originally created. Additional

quantities can be added via Improvement Documents.

Important


Parent Original Location

This is the Initial Location (Locations are maintained in the XT020 - Miscellaneous

Tables Maintenance Screen) where the asset is created. Following this, quantities can be

transferred to other locations, or added via Improvement Documents.

Unit of Measure

This is the Unit of Measure for the current Asset. It’s just referential. No calculations or

conversions are available. (Units are maintained in the XT020 - Miscellaneous Tables

Maintenance Screen) (Example: Gallons, Feet, Inches, Units, etc.)

Entered Period

The Period in which the Asset was created. Just for referential purposes, no calculations

are made based on the Entered Period.

Source AP Batch

This is the AP Batch Number where the Asset was acquired. Only for those cases where

the Asset was created using the FA280 - Search Asset Acquisitions in GL/AP Screen,

and from the AP Module.

Source AP RefNbr

This is the AP Reference Number where the Asset was acquired. Only for those cases

where the Asset was created using the FA280 - Search Asset Acquisitions in GL/AP

Screen, and from the AP Module.

Vendor ID AP Vendor ID. Retrieved from the AP Voucher, if the purchase originated in AP.

Project

This is the Project ID to which the Asset belongs.

Task

This is the Task ID to which the Asset belongs.


The majority of information registered in the Books using the Book Info Tab in the

FA110 – Asset Maintenance Screen, is inherited from the Class which the Asset belongs

to. The information in respect of the depreciation process for each Book can be changed

if this functionality has been allowed when setting up the Class Depreciation Options.

To register the Asset information in each Book:

• Access the Book Info Tab of the FA110 – Asset Maintenance Screen.

• Enter the Book ID and Currency ID for that book, or press (F3), to accomplish this.

• Enter the Acquisition Cost, Adjusted Cost (if applicable) and Residual Value in the

Book currency.

• If the depreciation method is not going to be the same as the one defined in the

Class it belongs to, choose the depreciation method from the options offered.

• Enter the Life Time periods to be used for the Asset.

• If the MACRS depreciation has been selected for the Asset, choose the Convention

(half-year, mid-month, etc.), you wish to apply in calculating depreciation for the

Asset.

• Depending on the Depreciation Method used for the Asset, enter the Declining

Balance Factor to be used in calculating depreciation for the Asset to be

incorporated.

• If a custom asset depreciation method is used, enter a Custom Method ID. This

method should have been predefined in the FA160 – Custom Depreciation Methods

Screen.

• If the Asset Book information is required in a second currency, enter the Currency

ID, Currency Conversion Method and Exchange Rate.

• For those cases where an asset is required to have a depreciation limit, press the

Depreciation Limit button and enter the years that apply along with the appropriate

limit.

• For those cases where an asset is included with previous depreciation values (e.g.

Separation of Assets from a parent Asset), press the Previous Depreciation button

and enter the previous values that correspond to Number of Periods Depreciated,

Accumulated Depreciation and Accumulated Depreciation on Inflation Adjustment,

in the Previous Depreciation sub-screen.

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Adjusted Cost

Adjusted cost for the Asset, for a given Book, expressed in Book’s currency (Taking

into account Adjusted Basis). If this isn’t the case, the following explanation is not

needed.

According to the IRS, Adjusted Basis is: The original cost of property, plus certain

additions and improvements, minus certain deductions such as depreciation allowed or

allowable and casualty losses.

The basis of property you buy is its cost plus amounts you paid for items such as sales

tax, freight charges, and installation and testing fees. The cost includes the amount you

pay in cash, debt obligations, other property, or services.

To find your property’s basis for depreciation, you may have to make certain

adjustments (increases and/or decreases) to the basis of the property for events

occurring between the time you acquired the property and the time you placed it in

service. These events could include the following:

• Installing utility lines.

• Paying legal fees for perfecting the title.

• Settling zoning issues.

• Receiving rebates.

• Incurring a casualty or theft loss.

For a discussion of adjustments to the basis of your property, see Adjusted Basis in

www.IRS.gov (US only) Publication 551. If you depreciate your property under

MACRS, you may also have to reduce your basis by certain deductions and credits with

respect to the property.

Residual Value

This is the residual value for the Asset, for a given Book, expressed in Book’s currency.

The Asset will be depreciated, until the Book Value reaches this value.


Depreciation Method

Select the depreciation method for the Asset, for a given Book. Your options are:

• Sum of Year Digits

• Custom. Requires a Custom method definition. – Screen Custom Depreciation

Methods (FA160)

• Straight Line

• Do Not Applicable. Do not depreciate. Example: Lands, Terrains.

• Product Units. Monthly depreciation rate will be based on produced units, or

used cycles. See Screen - Production units depreciation methods (FA150)

• Declining Balance (Excel). Declining Balance according to MS Excel Formula.

• Converted Declining Balance

• Declining Balance with Salvage

• Simple Declining Balance (Traditional)

• MACRS GDS (Declining Balance according to IRS/ General Depreciation

System)

• MACRS ADS (Declining Balance according to IRS/ Alternate Depreciation

System)

• Straight Line with Mid-Year Convention (German GAAP)

• Straight Line Yearly

Life Time

This is the useful life for the Asset. FA will depreciate the Asset for this amount of

periods, or until the Book Value reaches the Residual Value. If the asset is perfectly

balanced with its depreciation method, then when the Asset has been depreciated for the

“life time” number of periods, the Assets Book value equals the Residual value. But if

the Asset suffers modifications, or if the Asset was imported with inconsistent initial

values, then the Book Value could reach the Residual Value before or after it should,

according to the life time and its depreciation method.

Also called Useful life (From US Tax Perspective) An estimate of how long an item of

property can be expected to be usable in trade or business or to produce income.


Convention

Under MACRS, (US Tax Methods) averaging conventions establish when the recovery

period begins and ends. The convention you use determines the number of months for

which you can claim depreciation in the year you place property in service and in the

year you dispose of the property.

• The mid-month convention.

Use this convention for all nonresidential real property and residential rental

property. Under this convention, you treat all property placed in service or

disposed of during a month as placed in service or disposed of at the midpoint of

the month. This means that a one-half month of depreciation is allowed for the

month the property is placed in service or disposed of.

• The mid-quarter convention.

Use this convention if the mid-month convention does not apply and the total

depreciable bases of MACRS property you placed in service during the last

three months of the tax year (excluding nonresidential real property, residential

rental property, and property placed in service and disposed of in the same year)

are more than 40% of the total depreciable bases of all MACRS property you

placed in service during the entire year.

Under this convention, you treat all property placed in service or disposed of

during any quarter of the tax year as placed in service or disposed of at the

midpoint of that quarter. This means that 11/2 months of depreciation is allowed

for the quarter the property is placed in service or disposed of.

• The half-year convention.

Use this convention if neither the mid-quarter convention nor the mid-month

convention applies. Under this convention, you treat all property placed in

service or disposed of during a tax year as placed in service or disposed of at the

midpoint of the year. This means that a one-half year of depreciation is allowed

for the year the property is placed in service or disposed of.

Optional Parameter (Declining Balance Factor)

This parameter is optional and is only included for those cases that use the Declining


Balance method.

Custom Method ID

Indicates a Custom Method ID, if the Custom Method ID is selected for the Asset in this

Book. This method has to be predefined in the Custom Depreciation Methods of the

FA160 - Custom Depreciation Methods Screen.

Status

Asset Status. Options are Active or Disposed of.

2nd Second Currency ID

Indicates the second reporting currency for this Book.

2nd Second Currency Method

Specifies the Conversion Method (divide or multiply), that should be applied to the

currency in the Second Currency ID field, with the 2nd Currency Exchange Rate.

2nd Second Currency Rate

Shows the exchange rate being used for this Asset, in this Book, for all reporting

purposes with the second currency.

Depreciation Limit Pressing this button will access the Depreciation Limit sub-screen, where a limit can be

defined by year for depreciation. Values are entered for assets deemed by the IRS’s

new regulation on depreciating for DELUX and PASSENGER cars.

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• Use (F3) or enter the Manufacturers Identification Code. This information must have

been predefined in Miscellaneous Make Table of the Fixed Asset module.

• Enter the Asset Manufacturers Model.

• Enter the Assets Buy Status (New Rebuilt, etc.); at the time it is incorporated. • Use (F3) or enter the Custodians Identification Code, who will be in charge of the

Asset. This information must have been predefined in Miscellaneous Assigned

Table of the Fixed Asset module.

• Use (F3) or enter the Managers Code, of the Manager in charge of the Asset. This

information must have been predefined in Miscellaneous Assigned Table of the

Fixed Asset module.

• Use (F3) or enter the Identity Code, of the person who is being assigned the Asset.

This information must have been predefined in Miscellaneous Assigned Table of the

Fixed Asset module.

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Year

The Year the Asset was Manufactured.

Make

This is the Asset Manufacturers Identification Code. This information must have been

predefined in Miscellaneous Make Table of the Fixed Asset module.

Model

This is the Asset Manufacturers Model.

Buy Status

Shows Asset condition at date of acquisition. Possible values are:

• New

• Rebuilt or Reformed.

• Used

Custodian (Custom Table – Assigned)

The Identity Code of the Custodian, in charge of the Asset. This information must have

been predefined in Miscellaneous Assigned Table of the Fixed Asset module.

Equipment Manager

This is the Identity Code of the Manager responsible for the Asset to be incorporated.

This information must have been predefined in Miscellaneous Assigned Table of the

Fixed Asset module.

Assigned

This is the Identity Code of the Person to which the Asset has been assigned. This

information must have been predefined in Miscellaneous Assigned Table of the Fixed

Asset module.


The Asset information registered in the Warranty & Insurance Tab of the FA110 – Asset Maintenance Screen, is for reference purposes and its use is optional. The Fixed Assets module does not use this information to perform any calculations. This information relates to Warranty information of the Asset, such as insurance and maintenance contracts, if applicable. The fields can be accessed in the FA005 - Asset Inventory List report. To record this information for the Asset being incorporated: • Select the Warranty & Insurance sub-screen of the FA110 – Asset Maintenance

Screen. • Enter Warranty name or number, expiry date, issuing agent and the person

responsible for the policy at the Insurers. • Enter the amount for which the asset is insured in the appropriate currency and the

policy start date. Enter the applicable exchange rate and its effective date. • Enter the Assets Replacement Amount value in case of loss and the effective date;

also include market value of the asset and date of appraisal. • Use (F3) or enter the Vendor ID of the Asset Maintenance contract Vendor. The

Vendor must have been predefined in the Solomon Master Vendor Table of the Accounts Payable module

• Enter the Maintenance Contracts name or Number and the start and expiry dates.

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5.1.2.2. Automatic registry from AP/GL Modules This process searches for Asset Acquisitions in the AP, GL and PO Modules. It will

detect any Asset Purchases or Acquisitions based on the Debits to the Acquisition

Account (See part 3.1.4. of this manual, FA120 – Asset Class Maintenance Screen).

The way it works is very simple. You should never Credit or Debit the GL Asset Cost

Account. Instead, you should DEBIT the Asset Acquisition Account, and FA will clear

(CREDIT) such account and DEBIT the Asset Cost Account to the Capitalization Date

– Period (See part 5.1.2.1. of this manual, FA110 – Asset Maintenance Screen). This is

called the CAPITALIZATION of the Asset, and does not necessarily mean the “Place

in Service” date which is triggered by the Activation (or Place in Service) Date.

The Capitalization GL Entry (Debit: Asset Account / Credit: Acquisition Account)

happens, no matter in which order things occur. So, if you create a new Asset directly in

the Asset Maintenance Screen, without any prior Acquisition in AP or GL, then the

Cost price will end up in the Acquisition Account, waiting to be cleared.

Capitalization Dates and Activation (Place in Service) Dates (and dates in general) are

always translated by FA into periods by checking the date limits specified in the

01.950.00 - General Ledger Setup Screen.

This process will always check if the line was already processed and will NOT allow an

error by creating the Asset twice from a single AP/GL Acquisition.

In those cases where the Acquisition is an Improvement, the process will create an

Improvement Document, but the Document must be manually released by an authorized

user. When the Acquisition is a New Asset, then there are no other steps required,

Important

Important

Important


unless you need to change any secondary information for the Asset, then you must use

the FA110 – Asset Maintenance Screen directly.

This process will only create Assets or Improvements based on ONE single Debit to the

Acquisition Account. If an Asset was Acquired by many Vouchers or GL Transactions

(Asset Cost plus any shipping or landed costs, assets in construction) the Asset MUST

be created directly in the FA110 – Asset Maintenance Screen. For very complex Asset

Acquisition, some companies even create a new GL Account for complex Asset

Acquisitions, and this Account should be specified in the FA110 – Asset Maintenance

Screen, when FA Capitalizes the Asset, the right Acquisition Account is cleared, instead

of the Acquisition default account from the Asset Class.

Keep in mind that FA will always create the following GL Entry, in the Capitalization

Period, for each new Asset:

Debit: Asset Cost Account / Credit: Asset Acquisition Account

To incorporate Assets using the automatic interface with the GL, AP and PO

modules:

• Open the FA280 - Search Assets Acquisitions Screen in GL/AP.

• Enter the Period that you want to search. If the Fixed Asset module is managing

multiple companies, indicate if the search is in all companies.

• Indicate if you are going to create several assets from AP Lines using the value in

the Quantity field.

• Click on the Search Assets in AP/GL button and Asset acquisitions should appear in

the Grid, complete the required information for EACH Line in the grid.

• After EVERY field has information, then click on the Begin Creating Assets (FA110)

and/or Asset Improvement documents (FA010) button to begin the automatic

incorporating process.

Searrch Assetts Acquissitions in

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Period to Search

Enter the period in which you wish to search for the acquisition of New Assets.

Search Assets in AP/GL

When you press this button, a search will begin for the acquisition of New Assets in the

Solomon AP, GL and PO modules.

Search in all Companies

This option should only be used when you are working with multiple companies. If this

option is checked, the search for acquisitions of New Assets will be done in all

companies.

Create several Assets from AP Lines using Qty info

This option only applies to Asset Acquisitions made via the AP’s Voucher and

Adjustment Screen. If checked, then several Assets will be created from the same line in

the Voucher detail, as many as the Quantity field indicates.

Example: You purchase two identical Laser Printers, both in the same AP Voucher, and

in the same line on the grid, for $550 each.

a) If the option is checked, then: TWO DIFFERENT Assets will be created for

each Laser Printer at $550 each.

b) If the option is UN-Checked, then: ONE SINGLE Asset of $1100 will be

created, and the Asset quantity will be set to 2. This Asset will be an array of the

two Laser Printers, and you will NOT be able to specify Serials to each Laser. In

this example option “a” is the better approach.

Option “b” is more suitable for an array of Chairs, Phones, etc. – Array of small

Assets.

Selected

Indicates whether you want FA to process that particular transaction in the grid, in other

words, FA will only create Assets from Selected lines on the grid.

Company ID

Shows the ID code of the Company to which the new Asset belongs.


Asset Type

Select the New Asset option.

Asset ID

If auto-numbering is on, leave Blank for new Assets.

Class ID

Select the Class ID for new Assets.

Sub-Class ID

Select the Sub-Class ID for new Assets.

Date to begin depreciation (Place in Service Date)

This is the date when you want the new Asset to be placed in service, so that

depreciation will begin. FA will calculate the corresponding Activation Period checking

for limit dates in the 01.950.00 – General Ledger Setup screen.

Currency ID

Asset Acquisition Currency ID. Can be any Currency defined in the Currency Manager

(CM) module. It does not have to be identified if the Currency is already being used in

the Books. This currency is defaulted from the AP Voucher, if the acquisition comes

from AP.

The currency exchange rate between this currency and the currency of ALL BOOKS

must exist in the CM module. FA will look backwards in time from the current date

until it finds the conversion rates.

Acquisition Cost

This is the Acquisition Cost for the Asset, in the Acquisition Currency. This will be the

initial Asset Value in the Books, translated into each currency. If no currency

conversion is found, the cost for that particular book will be set to zero. The Acquisition

Cost can be changed by book, in the second tab, so an Asset can have different

Acquisition Values in different Books, even within Books with the same currency.

Important


Residual Value (Rescue Value)

Depreciation will be applied until the Book value reaches this Residual Value. This

value will be translated into each currency for each one of the books. If no currency

conversion is found, the Residual Value for that particular book will be set to zero. The

Residual Value can be changed by book, in the second tab, so an Asset can have

different Residual Values in different Books, even within Books with the same

currency.

Vendor ID

AP Vendor ID. Inherited from the Voucher, if it comes from the AP module.

Source AP Batch

This is the AP Batch Number where the new Asset was acquired, only for those cases

where the Asset was created from the AP module.

Source AP RefNbr

This is the AP Reference Number where the new Asset was acquired, only in those

cases where the Asset was created from the AP module.

Invoice Nbr

Invoice Number where the new Asset was acquired. Just for referential purposes. It’s

inherited from the Voucher.

Asset Sub-Account

This is the GL Sub-Account to which the Asset belongs. This Sub-Account will be used

in conjunction with the Accounts from the Asset’s Class, for Capitalization,

Accumulated Depreciation, Depreciation Expense, etc.

Once the Asset is part of a process, then it is not possible to change the Sub-Account. A

Sub-Account Transfer Document must be created instead, using the FA020 – Sub-

Account Transfers screen. This document will transfer the balances in GL for the Asset

and Accumulated Depreciation Account from the old Sub-Account to the new one, for

Important


the Asset being transferred.

Buy Status

This is the status of the Asset at time of purchase. Choices are New, Refurbished, or

Used.

Asset Qty or Qty to increase Parent Asset

This is the quantity of the new Asset. For regular (most common) Assets it should be

one (1). For an array of Assets, enter the Asset quantity.

Units

This is the Unit of Measure for the new Asset. It’s just referential. No calculations or

conversions are available. Units are maintained in the XT020 - Miscellaneous Tables

Maintenance Screen (Example: Gallons, Feet, Inches, Units, etc.).

Location ID

This is the Location for the Asset. Locations are maintained in the XT020 -

Miscellaneous Tables Maintenance Screen.

Begin creating Asset (FA110) and/or Asset Improvement Documents (FA010)

Pressing on this button will start the process of creating the asset or the Improvement

documents.

View Asset Improvement Documents (FA010)

When you press this button, the FA010 – Asset Improvements Screen will appear with

the newly created Improvement Document.


5.1.3. Improvements Investments in improvements or alterations to Fixed Assets, that increase productivity, efficiency, prolong useful life or help to reduce future costs, augment the value of existing Assets, and are capitalized jointly with the Asset, or separately depending on the nature of the operation or of the Asset being incorporated. In those cases where Improvements involve replacing old parts, these parts must be disposed of before incorporating the new parts, using the FA040 – Asset Disposal Screen, if they have been defined as Fixed Assets, or the FA015 – Asset Partial Disposal Screen, if they have not been so defined. The costs incurred in improvements to rental property are depreciated during the term of the rental contract, even though the contract may be renovated, becoming part of the amount depreciated in the fiscal period. Reconstructions, that increase the value of the original Fixed Asset, are accounts that can be capitalized, taking the following considerations into account when proceeding:

- If it is a practically total reconstruction, then it is considered a new Asset, and should be recorded in the (FA110 – Asset Maintenance Screen), whilst the previous Asset is disposed of in the (FA040 – Asset Disposal Screen).

- If it is a partial reconstruction, the substituted parts are disposed of in the FA040 – Asset Disposal Screen, if they have been previously defined as Fixed Assets, or the FA015 – Asset Partial Disposals Screen, if they haven’t. These steps are taken before recording the improvement.

Another type of improvement is the increase in the quantity, be it repeated or grouped, of a Fixed Asset. This type of improvement is also considered as a new Asset, but maintaining the same Asset ID of the original Parent Asset. Improvements defined as Fixed Assets, are valued at the acquisition price, actual cost of production or an equivalent value, when goods are received without monetary compensation. The cost of an Improvement includes the net price paid for the good, as established in the amount of cash or equivalent rendered, along with all necessary costs to put the


Asset in place and condition for use, such as transportation charges, insurance charges, taxes, importation and installation costs, until such time as the Asset is placed in service. The actual cost of production includes direct and indirect costs, such as, materials, labor, project administration, planning and other costs incurred or accrued during the production period, when these are performed with the company’s own means. Which Accounts are affected by an improvement?

• Investment Accounts • Asset Accounts

The investment accounts must be defined beforehand in the Class Master Tables, in the class that corresponds to the Asset being improved. Asset Improvements can be recorded in the Fixed Asset module using two methods:

• Manually, creating an improvement document in the FA010 – Asset Improvement Screen.

• By automatic interface with the Solomon Accounts Payable (AP) and General Ledger (GL) modules, using the FA280 – Search Asset Acquisitions in GL/AP Screen.

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Status This is the Document Status. Choices are Hold, Balanced, Partially Released and Completed. Completed should be the end status, if nothing goes wrong.

Document Description Document Description.

Document Handling Determines what FA will do with the document, once the user finishes it, or closes the screen. • Hold: Will put the document on hold, and FA will ignore the document. • Release Now: The document will be released, and the Document Status should

then be “Completed”, FA will process this document. • Release later: Will check on some validations in the document, but FA will NOT

release it; instead it will be placed in “Balanced” status, if everything is OK. This allows for the possibility of reviewing it, and a later release, using this screen, or screen FA270 - Release Documents, by any other user.

• No Action: This option can be used to correct any errors made on the document.

Asset ID Select the Asset on which you want to perform an Improvement. The description of the Asset will be shown in the next field, Description.

From the Database Schema stand point, Improvements and Partial Disposals are Asset Records in the Asset Table, with the same Asset ID as its Main (Parent) Asset, but with different “Record Type” and “Asset Record Differentiator” The Record Type can be: Parent Asset (The main Asset), Asset Improvement or Partial, Disposal.

The Asset Record Differentiator is an auto numbering value that differentiates the Asset Records with the same Asset ID. It is Parent (Main) Asset 0 (Zero), then the first Partial Disposal or Improvement would be 1 (One), the second would be 2 (Two) and so on.

Important


Asset Description A description of the Asset.

Transaction Description This is a brief description of the Improvement.

Currency Date Date to look up for the Currency Rates between the currency of the Improvement and the Currencies for every Book defined in the database. If no currency exchange rate is found on this date, then FA will look back in time until it finds one.

Cury ID This is the Currency ID for the Improvement (Currency IDs as defined in the Solomon Currency Manager). Transaction Amount Represents the Cost of the Improvement, and will be treated as a new Asset, but with the same Asset ID (Parent Asset).

Location This concept is tied to the Qty to increase described below. This is the location where the quantity will be increased.

Available Quantity Shows the quantity available in the selected Location.

Qty to increase Amount to increase the total quantity of the parent Asset.

When the Asset is a single Asset, with a quantity one (1) (Most cases), then the quantity for the improvement must be ZERO, if you don’t want to end up with more than one Asset. This depends on if you are adding quantity to the Parent Asset or if you are just improving the Parent Asset, by adding an internal component or by doing something to the asset that would increase the Cost of the Parent Asset.

Important


Example 1: The Parent Asset is a Computer, and you are adding a Hard Drive. Then Quantity should be ZERO, otherwise the Parent Asset quantity will be increased to 2 computers.

Example 2: The Parent Asset is a collection of 400 Gas Cylinders, and you are buying 100 more. The Quantity should be 100 and the total Asset quantity will be increased to 500 Cylinders.

Example 3: The Parent Asset is a collection of 400 Gas Cylinders, and you are changing the valves on all of them. The Quantity should be 0, because at the end, you will still have 400 Cylinders.

Copy Life Time From This field is used for setting the Useful Life of the Improvement based on 2 options:

• From The Original Parent Asset’s Useful Life: In this case the improvement will have the same Useful Life as the Parent Asset and will end its depreciation at the same time as the Parent Asset.

• From the remaining Asset Life of the Parent Asset: In this option, the Parent Asset and its improvement will end its depreciation in the same period.

Acquisition Account and Sub-Account These are the Account and Sub-Accounts that will be debited for the Improvement Acquisition Cost.

Created by User Code of the person that registered the document in the Asset Improvements Screen.


Updated by User Code of the last person that updated the document in the Asset Improvements Screen.



5.1.3.2. Automatic registry from AP/GL Modules This process searches for Asset Acquisitions in the AP, GL and PO Modules. It will

detect any Asset Purchases or Acquisitions based on the Debits to the Acquisition

Account (See part 3.1.4. of this manual, FA120 – Asset Class Maintenance Screen).

The way it works is very simple. You should never Credit or Debit the GL Asset Cost

Account. Instead, you should DEBIT the Asset Acquisition Account, and FA will clear

(CREDIT) such account and DEBIT the Asset Cost Account to the Capitalization Date

– Period (See part 5.1.2.1. of this manual, FA110 – Asset Maintenance Screen). This is

called the CAPITALIZATION of the Asset, and does not necessarily mean the “Place

in Service” date which is triggered by the Activation (or Place in Service) Date.

The Capitalization GL Entry (Debit: Asset Account / Credit: Acquisition Account)

happens, no matter in which order things occur. So, if you create a new Asset directly in

the Asset Maintenance Screen, without any prior Acquisition in AP or GL, then the

Cost price will end up in the Acquisition Account, waiting to be cleared.

Capitalization Dates and Activation (Place in Service) Dates (and dates in general) are

always translated by FA into periods by checking the date limits specified in the

01.950.00 - General Ledger Setup Screen.

This process will always check if the line was already processed and will NOT allow an

error by creating the Asset twice from a single AP/GL Acquisition.

In those cases where the Acquisition is an Improvement, the process will create an

Improvement Document, but the Document must be manually released by an authorized

user. When the Acquisition is a New Asset, then there are no other steps required,

Important

Important

Important


unless you need to change any secondary information for the Asset, then you must use

the FA110 – Asset Maintenance Screen directly.

This process will only create Assets or Improvements based on ONE single Debit to the

Acquisition Account. If an Asset was Acquired by many Vouchers or GL Transactions

(Asset Cost plus any shipping or landed costs, assets in construction) the Asset MUST

be created directly in the FA110 – Asset Maintenance Screen. For very complex Asset

Acquisition, some companies even create a new GL Account for complex Asset

Acquisitions, and this Account should be specified in the FA110 – Asset Maintenance

Screen, when FA Capitalizes the Asset, the right Acquisition Account is cleared, instead

of the Acquisition default account from the Asset Class.

Keep in mind that FA will always create the following GL Entry, in the Capitalization

Period, for each new Asset:

Debit: Asset Cost Account / Credit: Asset Acquisition Account

To incorporate Assets using the automatic interface with the GL, AP and PO

modules:

• Open the FA280 - Search Assets Acquisitions Screen in GL/AP.

• Enter the Period that you want to search. If the Fixed Asset module is managing

multiple companies, indicate if the search is in all companies.

• Indicate if you are going to create several assets from AP Lines using the value in

the Quantity field.

• Click on the Search Assets in AP/GL button and Asset acquisitions should appear in

the Grid, complete the required information for EACH Line in the grid.

• After EVERY field has information, then click on the Begin Creating Assets (FA110)

and/or Asset Improvement documents (FA010) button to begin the automatic

incorporating process.


5.1.4. Disposals and Partial Disposals 5.1.4.1. Asset Disposals Disposing of a Fixed Asset is the last step in the life of an Asset. When a new Asset is bought, it is assigned a predetermined number of months or years of useful life to perform the function for which it was acquired. The owner can either change or sell the Asset, before or after this length of time. In this case, once the Asset has been disposed of, it will cease to be depreciated or adjusted for inflation and will be withdrawn from Accounting. An Asset must be removed from the Financial Statements once disposed of, or when the Asset is permanently removed from service and no future economic benefit is expected from it. When you carry out a disposal there are three possible scenarios:

1. The book value of the Asset is the same as its real value. 2. The book value of the Asset is greater than its real value. 3. The book value of the Asset is less than its real value.

The profit or loss caused by the disposal of an asset should be determined as the difference between the estimated net value of the disposal (amount to be disposed of) and the book value of the asset and should be reflected as a profit or loss in the Statement of Profit and Loss. Which Accounts are affected by an asset disposal? • Disposal Accounts (Amount of Disposal ) • Asset Accounts (Total Cost of Acquisition) • Accumulated Depreciation Accounts (Amount of Accumulated Depreciation) • Profit and Loss Accounts (Amount to be disposed of – Book Value)


The Disposal Accounts should be predefined in the Master Classes of the Fixed Assets module in the specific Class to which the disposed asset belongs. Example of a GL entry when an Asset is fully disposed of:

Asset Acquisition Cost: $1000 Accumulated Depreciation: $600 Disposal declared value (Could be sell price): $500





Credit Disposal Gain Account 100

For a total disposal of an asset in the Fixed Assets module, use the FA040 – Asset Disposal Screen. To register a Disposal Document: • Access the FA040 – Asset Disposal Screen. • Enter the period in which the disposal document will be posted to the General

Ledger (GL) module and include a brief description of this document. • Select the asset to be disposed of, indicating disposal date and currency. • Choose one of the Books. On selecting the Book, the screen will show the actual net

value of the asset in this book, which serves as reference information to determine and enter the amount the asset will be disposed of with. Include a brief description of the transaction.

• Save document. • Check the Currency Exchange Rate of the asset to be disposed of, against the

currency exchange rates for each book in order to assure that exchange rates have been assigned.

• Once you have filled in and checked the document, print it.

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Asset ID Select the Asset that you want disposed of. The description of the Asset will be shown in the next field, Description.

Asset Description The Description of the Asset.

Disposal Date This is the initial date to start searching back in time for the currency exchange rate between the Currency ID of the disposal, and the Currencies of each Book defined in the module. An error will occur if no conversion rate is found.

Currency ID Currency ID of the Transaction.

Book ID Indicates the Book ID where you will show current specific asset values of the selected Asset. The Disposal will occur in every Book defined in the database.

Net Asset Value Shows the Current Book Value of the selected Asset within each Book.

Transaction Amount This is the selling amount for the Asset, or could be the fair market value at the time of disposal.


The Transaction Amount compared to the Book Value in each Book, can generate Profits or Losses depending on the Current Book Values of the selected Asset within each Book. Transaction Description This is a brief description for the Disposal.

Created by User Code of the person that registered the document in the Asset Disposal Screen.


Updated by User Code of the last person that updated the document in the Asset Disposal Screen.


Print Report Pressing on this button will print the Disposal Document.

View Disposal Rates Pressing on this button will take you to the FA04010 – Asset Disposal Rates Screen, which will show the Currency ID, exchange rate, effective date, and the equivalent amount of the disposal currency for the book currency, for the disposed asset in each book. These are results from searching back in time for the currency exchange rate between the Currency ID of the asset disposal, and the Currencies for each Book defined in the system.

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5.1.4.2. Asset Partial Disposals Throughout the useful life of a Fixed Asset, there may be times when it becomes necessary to change a part of the asset, partially reconstruct it or dispose of a certain amount of assets from grouped assets, due to wear and tear. It is at these times that a partial disposal of an asset is required, in order to replace, improve dispose or sell the asset. In those cases where an improvement or replacement of parts is required, these parts must be disposed of beforehand. If these parts have been predefined as Fixed Assets, the FA040 – Asset Disposal Screen, should be used. If the parts have not been predefined as Assets, then the FA015 – Asset Partial Disposals Screen, should be used to carry out the partial disposal. If there is a process of wear and tear or partial sale of an asset, then the worn parts or amount to be sold is disposed of, using the FA015 – Asset Partial Disposals Screen. Which Accounts are affected by a Partial Disposal?

• Accumulated Depreciation Accounts. • Disposal Accounts. • Asset Accounts.

These accounts must be predefined in the Asset Class Maintenance Screen, in the specific Class to which the asset that is being disposed of belongs.

Example of a GL entry when an Asset has been partially disposed of:

Asset Actual Acquisition Cost: $1000 Accumulated Depreciation: $600 Partial Disposal Value: $80 FA Calculates: Depreciation percentage: 600/1000 = 60% Accumulated Depreciation for the Partial Disposal: 60% x 80 = $48






Note that the disposal value has a TOTALLY different meaning in the partial disposal compared to a fully disposed of Asset. For the partial disposal, the disposal value is an amount relative to the Asset Actual Acquisition Cost. To register a Partial Disposal:

• Open the FA015 – Asset Partial Disposal Screen, in order to create the Partial Disposal document for the Asset.

• When the screen displays, enter a non processed period for which the document will be posted to General Ledger. Default is the current non processed period of the Main Book

• Select one of the Books and the transaction Currency. Doing this will bring up the Actual Acquisition Cost of the Asset in that Book (if the asset was inflation adjusted, the amount will be reflected in this amount). This value serves as reference information to determine and enter the Percentage amount to be partially disposed of, as well as the Amount of the disposal.

• Enter the Date of Disposal and the Location from which the partial disposal will be drawn. Doing this will bring up the Available Quantity at that Location. Enter the Amount of the Asset to be disposed of, out of the total amount available at that location.

• Check the partial disposal document then print it.

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• Hold: Will put the document on hold, and FA will ignore the document. • Release Now: The document will be released, and the Document Status should

then be “Completed”, FA will process this document. • Release Later: Will check validations in the document, but FA will NOT release

it, instead it will be placed in “Balanced” status, if everything is ok. This allows the possibility of reviewing it, and later release, using this screen or the screen FA270 - Release FA documents by any other user.


If any of the Books have been processed in the document’s Period, the Books must be “Rolled Back” using the screen FA240 - Roll-Back period processing by book.

From the Database Schema stand point, Improvements and Partial Disposals are Asset Records in the Asset Table, with the same Asset ID as its Main (Parent) Asset, but with different “Record Type” and “Asset Record Differentiator” The Record Type can be: Parent Asset (The main Asset), Asset Improvement or Partial, Disposal.

The Asset Record Differentiator is an auto numbering value that differentiates the Asset Records with the same Asset ID. It is Parent (Main) Asset 0 (Zero), then the first Improvement or Partial Disposal would be 1 (One), the second would be 2 (Two) and so on.

Asset ID Select the Asset that you want to partially dispose of.


Transaction Description This is a brief description of the partial disposal.

Book ID Indicates the Book ID where you will show current specific asset values of the selected Asset. The Partial Disposal will occur in every Book defined in the database.

Currency ID This is the Currency ID of the Transaction. Currency IDs as defined in the Solomon

Important


Currency Manager module.

Actual Cost Shows the Actual Acquisition Cost of the Asset. If the value of the asset has been adjusted for inflation, it will be reflected in this amount.

Percent Percentage of the Actual Acquisition Cost corresponding to the amount that will be partially disposed of.

Disposal Date This is the initial date to start searching back in time for the currency exchange rate between the Currency ID of the partial disposal, and the Currencies of each Book defined in the system. An error will occur if any conversion rate is not found.

Transaction Amount This is the selling amount for the Asset, or it could be the fair market value at the time of partial disposal. Location This is the physical location of the asset from where the partial disposal will be drawn from.

Available Qty This shows the quantity available in the selected Location.

Qty to decrease The quantity to decrease the total quantity of the Asset by.

Created by User Code of the person that registered the document in the Asset Partial Disposals Screen.


Updated by User Code of the last person that updated the document in the Asset Partial Disposals Screen.



Print Report Pressing on this button will print the Partial Disposal document. 5.1.5. Transfers A Fixed Asset may, for a variety of reasons, be transferred, either partially or fully, from its normal Physical Location. In order to maintain administrative control over Assets, all events involving assets must be recorded in the Fixed Assets module, even if the event requires a physical transfer of an asset. A fixed asset may be transferred by: • Internal relocation within the company, where:

o There is a transfer (partial or total) of an asset from one Location to another. This relocation does not imply a change to the Sub-account and therefore does not require an accounting entry. To record this type of transfer, the FA030 – Unit Location Transfer Screen is used.

o There is a definite transfer of an asset from one Sub-account to another. This type of transfer does have an accounting entry to the General Ledger (GL), although it doesn’t necessarily require the physical transfer of the asset. To record this type of transfer, the FA020 – Asset Sub-Account Transfers Screen is used.

• There is an Inter-Company transaction, which may be recorded and controlled if

there are multiple companies involved and the Inter-Company sub-module of Fixed Assets is activated. The transfer of a Fixed Asset from one company to another has accounting implications in the General Ledger. To record these types of transfers, the FA100 – Asset Company Transfers Screen is used.


5.1.5.1. Asset Sub-Account Transfers To record the movement of assets between Sub-Accounts in the Fixed Assets module, a transfer document must be created in the FA020 – Asset Sub-Account Transfers Screen. This screen transfers Assets from one Sub-Account to another. It does not affect physical location or quantities.

This document HAS an impact on the General Ledger, since it will transfer the Asset Cost and the Accumulated Depreciation from the old Sub-Account to the new one, but using the same Accounts specified in the Asset Class. As of this period, the Depreciation Expense will now Debit the new Sub-Account, instead of the old one. This document will affect the assets to be transferred in all the Books. To record a Transfer Document between Sub-Accounts: • Open the FA030 – Asset Sub-Account Transfers Screen. • Enter the period in which the transfer document will be posted to the General

Ledger (GL) module and include a brief description of this document. • Select the asset to be transferred. On doing so, a description of the asset and the

Sub-Account to which it belongs will appear on screen. • Select the Sub-Account to which you wish to transfer the asset. • Save the document. • Once the document has been checked and saved, use the Print Document button to

print a copy.

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Asset ID Select the Asset that you want to transfer. The description of the Asset will be shown in the next field, Description.


From Sub-Account Read only, this is the Sub-Account that the Asset belongs to, before transfer.

To Sub-Account This is the Sub-Account to which you want to transfer the Asset to.

Created by User Code of the person that registered the document in the Asset Sub-Account Transfers Screen.


Updated by User Code of the last person that updated the document in the Asset Sub-Account Transfers Screen.


Print Document This button will print a copy of the information contained on the Screen.


5.1.5.2. Unit Location Transfers If there is a need to partially or fully transfer an asset from its current physical location, the transfer should be recorded in the Fixed Assets module using a transfer document. The FA030 – Unit Location Transfers Screen, is used to carry out the transfer. This screen transfers Asset Quantities (Collection of Assets) from one physical location to another.

This document does NOT have an impact on the General Ledger, since it will not modify the Sub-Account of the Asset. To record a Transfer Document between Locations: • Open the FA030 – Unit Location Transfers Screen. • Indicate the period in which the transfer document takes effect and include a brief

description of the document. • Select the asset to be transferred, a description of the asset and its physical location

will appear on screen. Pressing F3 while the cursor is over the Location field will show the quantity available of the asset at that location. If the asset has more than one physical location, these additional locations will appear on screen along with quantities available.

• Select the Location from which a quantity of assets is to be transferred. The amount selected must equal or be less than the amount available for transfer.

• Select the location to which the asset is being transferred. • Indicate the amount to be transferred, the unit of measure used by the asset and a

brief description of the transaction. • Enter the assets to be transferred from that location using this document. • Save the document.

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To Location This is the Location to which you want to transfer the Asset units to.

Qty Amount to transfer. Units

Units of measure used for the asset.

Description

Document Description.

Created by User Code of the person that registered the document in the Unit Location Transfers Screen.


Updated by User Code of the last person that updated the document in the Unit Location Transfers Screen.



5.1.5.3. Inter-Company Transactions If your Organization has a multi-company corporate structure and has acquired and implemented the Cibermaxima Fixed Assets Inter-company module, then you will be able to carry out Inter-company Fixed Asset Transfers. To record this type of transfer, use the FA100 - Asset Company Transfers Screen. Inter-company transfers are definite asset relocations, that is to say there are no partial transferal of assets. These transfers are done for an amount to transfer, taking the Book Net Value of the Asset, as the reference base for a specific period. As with other transfers within the Fixed Assets module, this type of transaction requires creating an Inter-Company Transfer Document, which will, as in the previous instances, affect the assets being transferred, in all Books and the General Ledger (GL). To record a Transfer Document between Companies: **If the “exchange accumulated depreciation on Inter-company” option is selected in the fixed asset set up screen see below. If not go to the next section.** • Access the FA100 - Asset Company Transfers Screen. • The screen will show the period in which the transfer document will be posted to the

General Ledger (GL) module. • Select the company from which you wish to make the asset transfer. • Select the company to which you wish to transfer the asset. • Include a brief description of this document. • Select the asset to be transferred. • Enter the new Asset ID and the Sub-Account to which it will belong to within the

company to which it is being transferred or if auto numbering is in effect leave the field blank and FA will assign the number automatically.

• Save the document.

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instead it will be placed in “Balanced” status, if everything is ok. This allows for revision, and later release, using this screen, or screen FA270 - Release FA Documents, by any other user.


Asset ID Select the Asset that you want to transfer. The description of the Asset will be shown in the next field.

Transfer Date This is the date of the Transfer.

Description This is a brief description of the Transfer transaction. New Asset ID Enter the new Asset ID and the Sub-Account to which it will belong to within the company to which it is being transferred or if auto numbering is in effect leave the field blank and FA will assign the number automatically. To record a Transfer Document between Companies: **If the “exchange accumulated depreciation on Inter-company” option is NOT selected in the fixed asset set up screen see below. If it is go to the section above.** • Access the FA100 - Asset Company Transfers Screen. • The screen will show the period in which the transfer document will be posted to the

General Ledger (GL) module. • Select the company from which you wish to make the asset transfer.


• Select the company to which you wish to transfer the asset. • Include a brief description of this document. • Select the asset to be transferred. • Select the book ID from which you wish to make the asset transfer. • Net Book Value will be displayed. • The Period to start from. • Enter the Transaction Amount you wish to be transferred • Enter the new Asset ID and the Sub-Account to which it will belong to within the

company to which it is being transferred or if auto numbering is in effect leave the field blank and FA will assign the number automatically.

• Save the document. 5.1.6. Changes to Useful Life and Salvage Values When an asset is acquired, depreciation parameters such as Useful Life and Rescue or Salvage Value, are calculated as precisely as possible; calculations are based on previous experience with the type of asset owned by the company, the standards applied by different mercantile groups, fiscal authorities and all other pertinent information. Since these calculations are just estimates, it is necessary to make periodic revisions to the parameters throughout the life of the Asset. Augmented maintenance procedures, revised operating procedures and other similar processes, can prolong Asset estimated life. Unexpected deterioration or obsolescence can cause the initial useful life estimate of an asset to be shorter than provided for. Similar considerations should be taken into account when estimating Rescue and Salvage values for an Asset. The Fixed Assets module also takes changes in Rescue and Salvage values into account. In order to produce these changes, an Asset Life Time Adjustment Document must be created, using the FA055 – Life Time Adjustment Screen. How to create an Asset Life Time Adjustment Document: • Open the FA055 – Life Time Adjustment Screen. • Indicate the period in which you wish to effect the change to the Useful Life/Rescue

Value and a brief description of the Adjustment Document. • Choose the Asset whose useful life/rescue value will be modified. Once chosen, the

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it, instead it will be placed in “Balanced” status, if everything is ok. This allows the possibility of reviewing it, and later release, using this screen, or the screen “FA270 - Release FA documents”, by any other user.

• No Action: This option can be used to correct any errors made in the document. If any of the Books have been processed in the document’s Period, the Books must be “Rolled Back” using the screen FA240 - Roll-Back period processing by book.

Asset ID Select the Asset ID you wish to change values for.

Asset Description Shows the description of the Asset.

Book ID Indicates the Book ID where you will show current specific asset values of the selected Asset.

Depreciation Method Shows depreciation method for the Asset in a given Book.

Current Life Time Actual useful life for the Asset for a given Book.

Rescue Value Current residual value for the Asset, for a given Book, expressed in Book’s currency.

New Life Time This is the amount of periods related to the new useful life for the Asset, for a given Book.

New Rescue Value This is the new residual value for the Asset, for a given Book, expressed in Book’s currency.


Transaction Description This is a brief description of the transaction.

Created by User Code of the person that registered the document in the Life Time Adjustments Screen.


Updated by User Code of the last person that updated the document in the Life Time Adjustment Screen.



5.1.7. Activating/Deactivating Assets Two important asset maintenance operations in the Fixed Assets module are Deactivating and Reactivating the Depreciation Process for Assets. Deactivating the depreciation process of an asset could be required in those cases where the Asset is not in use for a period of time, once it has been placed in service. If required, an inactive Asset may be reactivated, should the company start using it again and thus needs to continue the depreciation process. Using the FA050 – Stop/Re-Start Depreciation by Asset Screen, both processes can be accomplished. This screen allows starting or stopping depreciation of a group of Assets. To deactivate Asset Depreciation: • Open the FA050 – Stop/Re-Start Depreciation by Asset Screen. • Enter the period from which the Asset will stop depreciating and enter a brief

description of the Deactivating/Activating Document. • Choose the Asset you are going to Deactivate. • Select the Stop Depreciation option and give a brief description of the transaction. • Save the document. To reactivate Asset Depreciation: • Open the FA050 – Stop/Re-Start Depreciation by Asset Screen. • Enter the period from which the Asset will start depreciating and enter a brief

description of the Deactivating/Activating Document. • Choose the Asset you are going to Reactivate. • Select the Start Depreciation option and give a brief description of the transaction. • Save the document. You can Reactivate and Deactivate assets using a single document. This document will affect selected assets in every Book.

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Asset ID Select the Asset you want to start/stop depreciating.

Action Select Start depreciation or Stop depreciation option.

Description This is a brief description of the transaction.

Created by User Code of the person that registered the document in the Stop/Re-Start Depreciation by Asset Screen.


Updated by User Code of the last person that updated the document in the Stop/Re-Start Depreciation by Asset Screen.



5.2. Processes 5.2.1. Depreciation and General Ledger Posting

Taking into account the accounting principle “Application in Time”, which affirms that expenses and income should be accounted for in the corresponding period, Depreciation is a distribution procedure whose objective is to distribute loss in value of Fixed Assets subject to depreciation, throughout the periods in which the losses are accrued.

Once all operations pertaining to the Assets have been registered using the appropriate Documents, Depreciation processing and GL entry creation, if applicable, for the Assets can be processed and posted to the General Ledger module

The FA250 - Processing, Depreciation & GL Entries Screen allows you to process a period for one or more Books. The current periods of the Books are independent, so each Book must be processed independently.

The period process will perform all calculations related to Asset Adjustments, like Disposals and Transfers, as well as Depreciation and Inflation Adjustment.

When an Asset is created in a given period, that particular period must be processed in order to see the Asset in the History Cubes and Reports. The same applies to disposals, improvements, transfers, etc.

Every period has only one GL Batch entry per Book. If something is overlooked, then you can perform a roll back for the period, and process it again. FA will automatically reverse or void previous GL batches depending on if its was Posted, Unposted or Balanced respectively.

The FA module has its own GL Transactions with full Asset detail. The table is called xFATran. If the summary posting option (FA950 – Fixed Assets Setup screen) is active, then only a summarized GL Batch will be created, but the full detail is kept in the FA module.

The xFATran (FA GL Transactions detail) is created when the Batch is processed, but

Important

Important


the GL Batch is created in a separate process (Create GL Batch on the grid), so the GL impact caused by the period process can be analyzed without having to create the GL Batch, using the FA090 - FA Internal General Ledger Transactions Screen.

These are the steps used in this screen, if you are going to process a single Book:

• Press the Single Process Tab of the FA250 - Processing, Depreciation & GL Entries

Screen. • Select with (F3) the Book you want to process. • Select what you want do: Process Depreciation, Create the GL Batch or Close

Period, on the grid. • Click on Begin Processing button. • Check results of the process in the History Cube using the FA260 – Create MS

Excel Standard OLAP Cubes screen or Reports, or the GL impact using the FA090 - FA Internal General Ledger Transactions Screen.

• Be sure to analyze anything reported in the Event Log. • If a process fails, check the Event Log. FA will give a full description of the

problem.

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Revaluation GL Ledger This is the Book where Inflation Adjustment results calculated for the Book will be posted.

Initialization Period for this Book This is the period where the Book begins to record historic detail for each Asset in the database, on a period to period basis. The historic data is stored by period and by Book.

Book Period Shows the process period for this Book.

Process Depreciation Indicates a process to be performed for this Book and Period. Should be checked if you wish to process Depreciation.

Create the GL Batch Indicates a process to be performed for this Book and Period. Should be checked if you wish to create a GL batch with postings generated from the depreciation process. This is unavailable until the depreciation process is executed.

Close Period Indicates a process to be performed for this Book and Period. Should be checked if you wish to close the period processed.

Process Status Shows the current state of the Depreciation process for a given period. Possible values are: Not Processed, Partially Processed and Ok.

GL Batch Creation Status Shows current state of the GL Batch creation for a given period. Possible values are: Not Processed, Partially Processed and Ok.

Close Status Shows the current state of the period in process. Possible values are: Open or Closed.


GL Batch Number Shows the GL Batch Number generated for the period processed.

GL Batch Status Shows the current state of the GL Batch process for a given period. Possible values are: On Hold, Balanced, Completed, Released and Posted.

Begin Processing Press this button to start processing for the selected period Using the Multi Process Tab of the FA250 - Processing, Depreciation & GL Entries Screen, you can perform specific or various processes for any or all Books and Companies, for the processing period in relation to each Book and Company. Depending on the type of process required, the fields on the Screen’s Grids will change, showing the corresponding fields to the selected process. These are the steps used in this screen, if multiple Books and or Companies are to be processed:

• Press on the Multi Process Tab of the FA250 - Processing, Depreciation & GL

Entries Screen. • Select the process you wish to perform: Period Processing and Depreciation, Batch

Creation, Close Periods or Open Periods. • Click on Refresh button. On doing so, fields and relevant information pertaining to

the process selected will appear for all the Books and Companies. • Select the Items that are going to be processed. • Click the Begin Processing button. • Check the results of the process in the History Cube using the FA260 – Create MS

Excel Standard OLAP Cubes screen or Reports, or the GL impact using the FA090 - FA Internal General Ledger Transactions screen.

• Be sure to analyze any errors reported in the Event Log. • If a process fails, check the Event Log. FA will give a full description of the

problem.

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Company ID Shows the Company ID.

GL Batch Creation Status Shows the current state of the GL Batch creation process for a Book and Company for a given period. Possible values are: Not Processed, Partially Processed or Ok.

GL Batch Number Shows the GL Batch Number created for the processed Book or Company.

Create the GL Batch Check the Books and or Company for which you wish to create the GL Batch.

Begin Processing Press this button to begin processing.

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Refresh Pressing on this button will show the fields and values on the grid for the selected process.

Set ID Shows the Book ID of the period that can be Opened.

Book Period Shows the period that may be Opened. This period is unique for each Book and Company and can be different for each one.

Process Status Shows the state of the depreciation process for that Book and Company. Possible values are: Not Processed, Partially Processed or Ok.

Close Period Check on the Books and Companies for which you wish to Close periods for.

Company ID Shows the Company ID.

Closing Status Shows the current state of Closing Period. Possible values are: Open or Closed.

Begin Processing Press on this button to begin processing.


5.2.2. Release Documents

Before updating the General Ledger module, documents created in the Fixed Assets module must be released, using the FA270 – Release FA Documents Screen. Each document should be Balanced before releasing it. As an example, when an initialization document, improvement document or any other operation relating to Fixed Assets is affected, we recommend that the document be held (Document Handling :

Release Later) and all its details checked, either on screen or in printed form, before it is released by the person who recorded the document or another user. To Release documents from the Fixed Assets module: • Open the FA270 – Release FA Documents Screen. • The next screen will show all balanced documents ready to be released. • Check the Selected box next to the document (Reference Number) to be released. • If you wish to release all the documents contained in the screen’s grid, press the

Select All button. • If you wish to clear all documents previously selected, press the Clear Selections

button. • Press the Begin Processing button to start the document release process.

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Select All Pressing this button will select all the documents on the Screen.

Clear Selections Pressing this button will deselect all the documents that had been previously selected on the Screen.

Begin Processing Pressing this button will execute the release process of documents from the Fixed Assets Module.


5.2.3. Rollback Process

During routine monthly operations using the Fixed Assets module, errors and omissions can occur that are detected after being generated and released for posting to a specific Book. To address these cases, the Fixed Assets module allows you to reverse and correct these processes without creating accounting implications, using the FA240 – Roll-Back Period Processing by Book Screen. This process allows rolling back one period as far as processing for a given book is concerned. This process will automatically reverse the FA GL Batch generated for this period, if the Batch was posted, otherwise the Batch will be voided. To Roll-Back a Processing Period for a Specific Book:

• Access the FA240 – Roll-Back Period Processing by Book Screen. The current Company, Main Book and last period processed for that Book will appear.

• If you have the Fixed Assets Multi-Company installed, enter the Company whose data you will Roll Back.

• Enter the Book ID. This brings up the last period processed for that Book, which will be the period to be reversed

• Check the Reverse Journal Entries made by FA module box, if entries generated by the Fixed Assets module are to be Rolled Back.

• Press the Begin Processing button to start the Roll-Back process.

If the period to Roll-Back for a given Book corresponds with the Initialization Document period, this process will open all Initialization Documents for the period to be Rolled Back and all these documents will have to be released again.

Important

Roll-

ComEnter t

Book

Enter t

PerioShows

ReveCheckmodul

BeginWhen Assets

-Back Per

pany ID the Compan

k ID

the Book ID

od to reves the last per

erse Journking this optle in this Boo

n Processyou press th

s information

riod Proc

ny ID of the C

D whose data

rse riod processe

nal Entriestion will Rook for this p

sing his button, tn generated

cessing b

Company w

a is to be rev

ed for the Bo

s made byll Back the eriod.

the reversal for this perio

by Book (

whose data in

versed.

ook.

y FA modjournal entr

(Roll-Back)od in the Bo

(FA240) S

nformation yo

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) process wilook shown.

Screen

ou wish to re

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everse.

xed Assets

r the Fixed


5.2.4. Internal General Ledger Transactions

This is an inquiry screen that shows the accounting entries created by the FA processes

for each Book, Period and Company.

This screen can only be used AFTER the book has been processed for the given Period,

and the Book does NOT have to be “Postable” (See FA180 – Book Maintenance

Screen) and it is NOT necessary to create the Batch in the General Ledger Module in

order to query this screen. The only requirement is to have processed the Period for the

Book. The Fixed Assets module has a table for keeping the full detail of debits and

credits, detailed per Asset, per Book, per Company and per Period, called xFATran. FA

uses this table to create the Batch in the General Ledger, as well as keeping full detail

inside the FA Module.

If you are analyzing the GL Effect or the GL Batch and you realize that you have an

error, like a Disposal or an Acquisition was not recorded, then you can Roll Back the

period, and FA will reverse the GL Batch, or void it, in those cases where the Batch has

already been posted in GL. FA will keep only ONE batch in the GL per Period, per

Book, per company, no matter how many times you Roll Back and Process, and/or how

many times you create the GL Batch.

To check General Ledger Transactions in the Fixed Assets module:

• Open the FA090 – Internal General Ledger Transaction Screen, and press the

Summarized Posting Tab.

• Select a Company ID, Book ID, and a Period

• The screen will show summarized debits and credits for the given Period and Book.

Important

Important

• If t

top

• In

res

wo

sum

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• Fro

in

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Inter– Su

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A also shows

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metimes has

om this scre

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d NOT the G

rnal Geneummarize

ch has alread

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articular Ass

ll be able to

GL Entries.

s the I.A. (In

quire a separa

s it posted to

en, you can

he source for

GL Transact

eral Ledgd Posting

dy been creat

a Button tha

b, you will b

et within the

analyze the

nflation Adju

ate Batch fo

o a different G

print a detai

r this screen

tions (GLTra

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ted, you will

at will take y

be able to fu

e same Book

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r Inflation A

GL Ledger.

iled or summ

and its repo

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actions -

l see the GL

ou to the GL

rther query t

k, Company

one particula

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Adjustment (

marized repo

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xFaTran

Batch Num

L Batch.

the GL Effec

and Period.

ar Asset to th

ly, because s

Revaluation

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A Internal GL

(FA090)

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L Entries,

Screen


Company ID

Enter the Company Identification.

Book ID

Enter the ID of the Book whose transactions you wish to check.

Currency ID

Shows the Currency ID of the chosen Book.

Period

Enter the period for which you wish to check the transactions generated in the selected

Book.

Depreciation Ledger

Shows the ID of the Ledger that will be affected when posting these transactions to the

General Ledger.

I.A. Ledger

Shows the ID of the Ledger that will be affected when posting the Fixed Asset

transactions generated from Inflation Adjustment in the General Ledger.

Debit Total

Shows the sum Debit Total of the FA transactions generated for the selected Book,

Company and Period.

Credit Total

Shows the sum Credit Total of the FA transactions generated for the selected Book,

Company and Period.

Depreciation Batch

Shows the GL Batch Number created from the depreciation transactions generated for

the selected Book, Company and Period.

Status

Shows the GL Depreciation Batch status. Possible values are: Hold, Balanced,

Released, Partially Released, Unposted or Posted.

I.A. Batch


Shows the GL Batch Number created for Inflation Adjustment transactions generated

for the selected Book and Period.

Status

Shows the Inflation Adjustment GL Batch status. Possible values are: Hold, Balanced,

Released, Partially Released, Unposted or Posted.

View GL Batch

Pressing this button will display the 01.010.00 – Journal Transactions Screen, showing

the GL Depreciation Batch created in the GL module.

View I.A. Batch

Pressing this button will display the 01.010.00 – Journal Transactions Screen, showing

the GL Inflation Adjustment Batch created in the GL module.

Account

Shows the Account Code of the journal where the amount will be posted.

Account Description

Shows a description of the Account.

Sub-Account

Shows the Sub-Account ID where the amount will be posted.

Sub-Account Description

Shows a description of the Sub-Account.

Debit Amount

Shows the sum amount debited for the combined Account/Sub-Account of the

accounting transaction generated.

Credit Amount

Shows the sum amount credited for the combined Account/Sub-Account of the


Inter– Po

Asset

Enter

Comp

Load

Pressin

the det

Acco

Shows

Asset,

Acco

Shows

rnal Geneosting by

t ID

the Asset I

any and Peri

Asset Def

ng this butto

tailed inform

unt ID

s the Accou

Book, Com

unt Descri

s a descriptio

eral LedgAsset Ta

ID for whos

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mpany and Pe

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se detailed g

nt to check.

play the FA1

t the selected

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ccount.

sactions -

generated tr

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d Asset.

transaction

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ransactions f

Maintenanc

amount gen

n (FA090)

for the selec

ce Screen, s

nerated for th

) Screen

cted Book,

howing all

he specific


Sub-Account

Shows the Sub-Account ID to which the amount generated will be posted.

Sub-Account Description

Shows a description of the Sub-Account.

Debit Amount

Shows the sum amount debited for the combined Account/Sub-Account of the


Credit Amount

Shows the sum amount credited for the combined Account/Sub-Account of the


Event ID

Shows the ID for the Event corresponding to the Fixed Assets operation that originated

the generation of this transaction for this Asset in the specified Book, Company and

Period.

Print Report

Pressing this button will print a detailed or summarized report of the journal entries

generated and shown in this screen.


5.2.5. Depreciation Projection

For many companies it is important to have a detailed account of future costs and investments. Consequently, they make periodic estimates, forecasts and projection in order to plan and budget for those costs and investments. One of the most important items to budget for is Depreciation of Fixed Assets. To do that it is necessary to assess their future behavior.

The Fixed Assets module allows you to project fixed asset depreciation of a company for any of the Books, for a specific period of time. This process allows projecting the status of a book, as of a given Period. It will calculate depreciation for that particular period and for each asset:

• Number of periods depreciated.

• Accumulated depreciation.

• Net Value Asset.

• Cost

• Depreciation Expenses by period.

• Accumulated Depreciation Revaluation (If the Inflation Adjustment module of FA module is activated).

• Adjusted Cost (If the Inflation Adjustment module is activated).

The Projection process will only work for a single period at a time. If you need to have a year view, with period detail, then you should create a Budget Book, and run depreciation projection up until the desired period. To activate this process the FA290 – Depreciation Projection Screen of the Fixed Assets module is used.

Once you run this process, you can review the results in the FA675 - Depreciation Projection by Class report, or by launching the Projection Cube from the FA.260 - Create MS Excel standard OLAP Cubes screen.

To ru

• Op

• Sethe

Depr

BookSelect

PerioIndica

ProjeEnter

CreatCheckto proj

BeginPress modul

n the Depre

pen the FA2

elect the Booe projection.

reciation

k ID t the Book fo

od to Projeate the period

ection ID an identifier

te all perik this box if ject.

n Processthis button

le for the Bo

eciation Pro

290 – Deprec

ok, indicating Click the “B

Projectio

or which you

ect d which you

r for the depr

ods up toyou want th

sing to start the

ook and perio

ojection pro

ciation Proje

g the desiredBegin Proce

on (FA29

u wish to pro

wish to proj

reciation pro

o period tohe module to

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cess:

ection Scree

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oject depreci

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wish to proc

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xed Assets


Physical Inventory

This chapter describes how to carry out processes related to physical inventories of fixed assets using the FA module. The Physical Inventory Module of the Cibermaxima Fixed Assets product involves the following processes:

• Exporting Assets for Physical Count • Physical Count • Importing Data from Physical Count • Establishing differences between System Quantity and Physical Quantity

6.1. Exporting Assets for Physical Count This process creates a document with all Assets that you want to export for Physical

Count. You can generate an Excel, XML or printed document. To create the document,

use the FA035 – Physical Inventory Screen.

To create an Asset Export Document for Physical Inventory Counts:

• Open the Fixed Assets module FA035 – Physical Inventory Screen.

• Select your Company.

• Include Document Description.

• Select Document Date issuance (Period and Document Status (On Hold) will be

Chapter

6


generated automatically).

• Select Asset ID.

• Select Location of the Asset.

• Include Transaction Description (optional).

If you want to simplify the Asset selection process:

• Press on the Add Assets button of the FA035 Screen. The FA235 – Filters

Screen will be displayed, where you can select a group of Assets depending on

special filters, such as: Class ID, Sub-Class ID, Account, Assets not counted as

of a specific period, etc.

• Once the Filter fields with which you wish to select the group of assets have

been filled in, press the Add button to execute the process.

• When the process has finished, the FA035 Screen appears with the selected

Assets.

• Save the Document.

• Once you have saved the document you can either select the Export Data button

or Print button.

• If you click the Export Data button you must either select the Excel or XML

format of the file to export. Executing the process causes the module to

automatically change the Document Status to In Process.

• Save the XML or Excel Export File created.

• If you click the Print button, a FA035 – Physical Inventory Report will be

generated.

Important

Phys

Comp

Comp

Docu

Docum

auto n

Desc

Includ

Date

Includ

Perio

Period

sical Inve

pany ID

any Identific

ment Nbr

ment Numbe

numbering ha

ription

de a Descript

de the Docum

od

d in which th

entory (FA

cation.

er. This num

as been defin

tion of the D

ment Date.

he document

A035) Scr

mber is autom

ned in the 01

Document.

t was issued.

reen

matically gen

1.950.00 – G

The period

nerated on sa

GL Setup Scr

is calculated

aving the doc

reen of the G

d automatica

cument, if

GL module.

ally once


the date has been determined.

Document Status

This is the document status. Can be On Hold, In Process or Released.

Document Handling

Determines what FA will do with the document, once the user finishes with it, or closes

the screen.

• Release Now: The document will be released, and the Document Status should

then be “Released”, FA will process this document.

• In Process: Indicates that the document has been exported or printed. The Fixed

Assets module will not release it until it has been updated, once the Physical

Count process ends.


Asset ID

Asset Identification to export.

Asset Description

Asset description to export. Displayed automatically on selecting the Asset ID.

Location ID

Include Asset Location for the period involved.

System Qty

Shows the Quantity of the Asset registered in the module for that period.

Physical Qty

Quantity of the Asset obtained through Physical Count. Default value is zero “0”.

Units

Shows the Units of Measure used for the Asset.

Transaction Description

Space set aside for description of the transaction. If you wish, you can optionally enter a

description of the transaction.

Statu

If this

locatio

indica

used f

Expo

Clicki

of file

•

•

Im

s

field is blan

on, is valid

tes that the i

for reference

rt Data

ng on this b

to export: E

Excel: Wh

containing

data in the

XML: Whe

allows you

path indica

mportant

nk, it inform

for the doc

information

purposes.

button will di

Excel o XML.

hen choosing

the Data in

capture of t

en choosing

u to save the

ated by the u

s the user th

ument perio

contained th

isplay a win

The docum

g this optio

n the Docum

he Physical

this option,

e XML file.

user.

hat the physic

od involved.

herein is not

ndow that req

ment must be

on, the mod

ent, so the u

Inventory.

the module

It will then

cal inventory

. If there is

t considered

quests the u

saved in ord

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user may sav

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n create the f

y for this ass

a “V” in th

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The XML file is used when the user has a Pocket PC, or Hand Held device; and the

Physical Inventory module will use it to carry out the physical count of Assets.

Import Data

Use and function of this button is explained in detail within section 6.3. Importing Data

from Physical Count of this manual.

Print

Clicking on this button will show a report with the existing Assets already in the

Document. This report is used when the user wishes to perform manual physical counts

and then update these values manually in the FA module Document.

Add Assets

Clicking on this button will show the FA235 – Filters Screen, thus allowing the user to

select and add Assets to the Document being created.

Created by

User Code of the person that registered the document in the Physical Inventory Screen.

Date Created

Date in which the Document was registered.

Updated by

User Code of the last person that updated the document in the Physical Inventory

Screen.

Last Update

Date in which the Document was last updated.

Pressing on the Add Assets button of the FA035 – Physical Inventory Screen, will display this screen, where the group of Fixed Assets to be physically counted can be selected, using a combination of selected values for a specific group of fields that define the selection process. All these fields are inclusive, meaning that the combination of values can be formed with one, various or all fields.

Filte

Comp

Comp

Class

Enter (F3).

Sub-C

Enter

press (

Locat

Enter

Physic

Acco

Enter t

to, or p

Sub-A

rs (FA235

pany ID

any Identific

s ID

the ID of th

Class ID

the ID of th

(F3).

tion ID

the ID of th

cal Count, or

unt

the ID of the

press (F3).

Account

5) Screen

cation.

he Class who

he Sub-Clas

he Location

r press (F3).

e Account th

n

o’s Assets y

s who’s Ass

where you c

hat the Asset

you wish to s

sets you wis

can find the

ts you wish t

select for Ph

sh to select

Assets that

to select for

hysical Coun

for Physical

you wish to

Physical Co

nt, or press

l Count, or

o select for

ount belong


Enter the ID of the Sub-Account that the Assets you wish to select for Physical Count

belong to, or press (F3).

Custodian

Enter the ID of the Custodian for the Assets you wish to select for Physical Count, or

press (F3).

Assigned

Enter the ID of the person Assigned the Assets you wish to select for Physical Count, or

press (F3).

Only add physically uncounted assets

Check this option if you only wish to count those assets that have not been counted

since a specific date.

From

Enter the Period from which you wish to select the uncounted Assets for Physical

Count.

Add

Press this button to execute the selection process.

Cancel

Pressing this button will cancel the process.

Excel

XML

Sheet samp

Document

ple:

sample:

Printe

ed documennt sample:


6.2. Physical Count - Inventories undertaken with Hand Held Devices Physical Counts are performed by selecting an Asset (either by using barcode, labels, and serial numbers or asset codes) and then registering the numbers of assets found at the time of taking the physical inventory. Once the physical count has been performed for each Asset, the information is updated in the XML file and then imported to the FA module, using the FA035 – Physical Inventory screen. Here is a step by step demonstration of the process.

For the purposes of this Manual, we will use the emulator for a Hand Held Pocket PC, in order to demonstrate the process.

Important


From the Program screen of the Hand Held double click on the Physical Inventory

icon.

Once the program is running, open the XML file you exported from the FA035 – Physical Inventory screen, from the File\Load menu.


You must have already copied the XML file to your Hand Held. If you haven’t created an XML file, you can use the Demo File that comes with the application as a guide: This Demo File is located in the Physical Count folder you downloaded to your Hand Held. You must copy this file to the My Documents folder of your Hand Held. The screen used to open the XML file is similar to the one on the right. Important The opening screen for the XML file shows the content of the My Documents folder, so if you copied the file to another folder it will not appear.

If you do not select a file and try to run the program, you will receive the error message displayed on the left. After loading the XML file, the screen on the right will appear and you are ready to start working.


To search for an Asset by its Barcode Make sure the cursor is in the Asset box. Read the Barcode using the barcode reader connected to your Hand Held and press the [Save] button. Important The Barcode value must be recorded in the Barcode field of the FA110 – Asset Maintenance screen, in order to be recognized when you take the Physical Count reading with the Hand Held device. To search for an Asset by its Code Make sure the cursor is in the Asset box and then enter the Asset Code. If the Asset Quantity is one (1), press the [Save] button. If the Asset Quantity is more than one (1), enter the amount in the [Qty] box and then press the [Save] button. To search for an Asset by its Label Make sure the cursor is in the Asset box and then enter the Asset Label Name. If the Asset Quantity is one (1), press the [Save] button. If the Asset Quantity is more than one (1), enter the amount in the [Qty] box and then press the [Save] button. To search for an Asset by Serial Number Make sure the cursor is in the Asset box and then enter the Serial Number. If the Asset Quantity is one (1), press the [Save] button. If the Asset Quantity is more than one (1), enter the amount in the [Qty] box and then press the [Save] button. Important As long as a new Asset isn’t read, every time you press the [Save] button the quantity amount will be increased by one and saved.


The following is a graphic representation of the steps to introduce quantities: 1. Include Quantity 2. Press Save. 3. Pressing on the Other Information Tab, will bring up a screen with data taken from the FA110 – Asset Maintenance screen that is used as reference.


Once the quantity amounts have been entered they must be saved to the XML file, which will be used to import the data to the FA035 – Physical Inventory Screen. To do this click on the File menu and then press Save.

To check the software version press the About button on the File menu.


In order to exit the process select File\Exit from the menu. You can also press the [ok] button in the top right hand corner of the screen. Important If you haven’t saved the changes to the XML file when you exit, you will be prompted to do so before closing the application.


6.3. Importing Data from Physical Count

Once the Physical Inventory has been taken of your Fixed Assets, the information

should be updated in the Physical Inventory sub-module of the Fixed Assets module. To

perform the update of this information the data is imported using the FA035 – Physical

Inventory Screen.

The following steps are required to import the data of Physical Inventory:

• Open the FA035 – Physical Inventory Screen.

• Select the required Document you had previously created in the Export process

of the data from the Physical Count.

• Updating the Document with the relevant Physical Count information can be

performed in two ways:

1. To obtain the data from an XML or Excel Document:

Press the Import Data button.

Select the file type in the To File Screen shown. Once you have

made your selection and pressed the OK button, the Open Screen

will appear where the path and filename of the Import file

containing the Physical Count data should be selected.

Once the Import process is finalized, the FA035 – Physical

Inventory Screen will appear with the updated Physical Count

information of the selected Assets.

Check the revised Document and then release it.

Phys

(Detaimanua

sical Inve

ils of this scral).

entory (FA

reen are show

A035) Scr

wn in part 6

reen

6.1. Exportin

ng Assets for r Physical Coount in this

Phys

Open

sical Inve

n Screen

entory (FAA035) Scr

reen – To

o File Subb-Screen

Phys

sical Inve

2. Wh

(ref

entory (FA

hen you obta

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You hav

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Save th

A035) Scr

ain the data f

llowing repo

ve to manua

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e Document

reen – Re

from Form F

ort example)

ally update th

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t to review it

esults of

FA035 – Phy

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Physical

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035 –

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sical Inveentory (FAA035) Rep

port


6.4. Establishing differences between System Quantity and Physical Quantity

Once the Importation Process has been performed and the Inventory Document updated

with the Asset Physical Count and you have checked for errors, you can release the

Document using FA035 – Physical Inventory Screen, the FA module can now recognize

the Asset’s Quantity as the real Physical Count for that period.

Now, you can check results in the FA230 – Physical Count Inquiry Screen and print the

FA230.rpt report from this same screen.

The following steps are to be performed, if you wish to check the results:

• Open the Fixed Assets module FA230 – Physical Count Inquiry Screen.

• Press the Choose Filters button. Pressing the button will display the Filters Screen.

Select the “in the system and the physical count has been registered” option of the

Filter section of this screen.

• Select “the Only Document Number” option of the Inventory Documents to Use

section of this screen, include or select (F3) the Document Number that you wish.

• Press the Add button. This will display the FA230 – Physical Count Inquiry Screen

with the results of the Inventory Document update requested: Information on the

physical count of Assets contained in the Fixed Assets module, the information from

the Physical Count and any differences between them, if any, will be reflected. The

following is an example:

Phys

Filte

The fo

of an i

sical Cou

rs Screen

ollowing ima

import.

unt Inquir

n

age of the F

ry (FA230

FA230 – Phy

0) Screen

ysical Count

t Enquiry Sccreen shows the results

If you

6.5.

Once

Inquiry

be ge

Physic

Accou

obtain

If the

those

genera

Dispo

press the Pr

Accoun

the Physica

ry Screen; fo

enerated (Im

cal Inventor

unting in th

ned in the Ph

results obta

recorded in

ated for that

sal Documen

rint button, th

nting

al Count resu

or those asse

mprovements

ries in the

he GL modu

hysical Coun

ained in the

the Fixed A

t Asset. If th

nt must be g

he FA230.rp

ults have be

ets that have

s, Partial or

Fixed Ass

ule. These d

nt, in the resp

Physical Co

Asset modul

he Physical

generated if t

pt – Inventor

een analyzed

differences,

r Total Dis

sets module

documents

pective Inven

ount report a

le, then a Pa

Count recor

the quantity

ry Status rep

d in the FA

, Asset Oper

sposals) wh

e, as well

will be cre

ntory Docum

a higher Qua

artial Dispos

rded zero in

should be eq

port will look

230 – Phys

ration Docum

hich update

as the corr

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ment.

antity of an

sal Docume

n quantity th

qual to zero.

k like this:

sical Count

ments must

the Asset

responding

the results

Asset than

nt must be

hen a Total


If the results obtained in the Physical Count report a lower Quantity of an Asset than

those recorded in the Fixed Asset module, then an Improvement Document must be

generated for that Asset to cover the difference between the quantities recorded in the

Fixed Assets module and the excess reported in the Physical Count.

The Improvement and/or Disposal Documents Will affect Accounting when the

depreciation process, GL Batch creation, and GL posting is executed.

To create and Account for these Documents the following steps must be

performed:

• Open the Fixed Assets FA230 – Physical Count Inquiry Screen.

• Retrieve the Physical Count Inventory results as outlined in section 6.4. In the

manual.

• If a Total Disposal Document is required, press the Disposal Document button. The

FA040 – Assets Disposals Screen will be displayed where information concerning

the total disposal of the Asset, due to inventory adjustment and zero quantity in the

Physical Count, is entered.

• If a Partial Disposal Document is required, press the Partial Disposal Document

button. The FA015 – Asset Partial Disposals Screen will be displayed, where

information concerning the partial disposal of the Asset, due to excess inventory in

the System in respect of the quantity recorded in the Physical Count, is entered.

Screen details are in section 5.1.4.2. In the manual.

• If an Improvement Document is required, press the Improvement Document button.

The FA010 – Asset Improvements Screen will be displayed where information

concerning the Assets to be incorporated, due to excess inventory recorded in the

Physical Count with respect to the System, is entered. Screen details are in section

5.1.3. In the manual.

• Once the respective documents have been created, check for errors and release them.

To release all of the documents, use the FA270 – Release FA Documents Screen

(section 5.2.2. in the manual). If you want to release the documents separately, do it

using the screen where each document was created.


• To post the documents to the General Ledger, the Depreciation of the period for

each Book must be processed, creating the GL Batch which will then be released

and posted to the GL module. The FA250 - Processing, Depreciation & GL Entries

Screen (section 5.2.1. in the manual).


Information Management

This chapter describes the inquiry screens, displays many reports, and runs through the OLAP Cube process of the FA module. 7.1. Screen Inquiry 7.1.1. Asset History Viewer Using the FA070 – Asset History Viewer Screen, the user can analyze the content of the

Master Asset History Table.

This Master Table keeps details of Each Asset in each Book for each Company and for

each Period. The Table shows how many periods the Asset has been depreciated, the

Accumulated Depreciation, Book Value, and Inflation Adjustment, etc, as of every

processed Period.

This Table is the main source for many reports and OLAP Cubes. This Table is updated

once you process a Book, for a given period.

To review historic information:

• Select a filter (typically the Asset ID, Company ID and a Book) and click the

Refresh button.

Chapter

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or press

ess (F3).

, or press


Period #

Enter the period processed for which you wish to obtain historic Asset information.

Record Type

Check the type of Asset you wish to select from the Master History. The Record types

are:

• Parent Asset (The main Asset)

• Asset Improvement

• Partial Disposal

Refresh

Press this button to execute the search and selection process. Once finished, the screen

will display the selected information according to filters selected.

Details of Display fields:

Asset ID

Shows the Asset ID.

Record Type

Shows Asset Type:

• Parent Asset (The main Asset)

• Asset Improvement

• Partial Disposal

Every Improvement or Partial Disposal for a given Asset has the same Asset ID as its

parent; the way to differentiate those records is by the field “Record Differentiator”.

Parent (Main) Asset is always 0 (Zero), then the first Improvement or Partial Disposal is

1 (One), the second is 2 (Two) and so on.

Book ID

Shows the ID of the Book to which the depreciation values of the Asset belong.


Currency ID

Shows the ID of the Book Currency, in which the selected Asset’s depreciation values

are expressed.

Period #

Shows the period in which the Asset’s depreciation values were processed.

Asset Cost

Shows the Asset’s historic Cost, expressed in the Book currency, for the period shown.

Life to Date Depreciation

Shows Accumulated Depreciation for the Asset, expressed in the Book currency,

calculated for the period shown.

Net Asset Value

Shows the Net Value of the Asset, expressed in the Book currency, calculated for the

period shown.

Life to Date Revaluation

Shows Inflation Adjustment on Net Value of Asset, expressed in Book currency,


Life to Date Dep. Acum. Revaluation

Shows Inflation Adjustment on Asset’s Accumulated Depreciation, expressed in Book

currency, calculated for the period shown.

Life to Date Revaluation Depreciation

Shows Accumulated Asset’s Depreciation on Inflation, expressed in Book currency,


Print Report

Pressing this button will print the selected historic information through the FA002A.rpt

–Assets History by Class. An example of this report is shown below:

Fixed

d Assets (FA002AA) Report

t

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Company ID

Enter the Company ID to which the Asset that you are querying events belongs to, or

press (F3).

Asset ID

Enter the Asset ID of the Asset that you wish to query events for, or press (F3).

Class ID

Enter the Class ID of the Class that the Assets you are querying events for belongs, or

press (F3). .

Book ID Enter the Book ID of the Book that the Assets you are querying events for belongs, or

press (F3). .

Period

Enter the processing period in which the Asset events you are querying took place.

Period to Post

Enter the period in which the Asset events you are querying were posted to the General

Ledger.

Period of Execution

Enter the period in which the Asset events you are querying were executed in the Fixed

Asset module.

Refresh

Press this button to execute the search and selection process. Once finished, the screen

will display the selected information according to filters selected.

Asset ID

Shows the Asset ID of the Asset selected.

Event Type

Shows the type of event affecting the Asset: Acquisition, improvement, activation,


partial disposal, etc.

Book ID

Shows the Book ID of the Book to which the selected Asset event belongs to.

Period of Execution

Shows the period in which the Fixed Asset module executed the selected Asset event.

Period of the Event

Shows the period in which the Asset event took place.

Period to Post

Shows period in which the Asset event was posted to General Ledger.

History Processed Flag

These boxes indicate whether the selected Asset event was processed or not in the Asset

History Master Table.

GL Transaction Processed Flag

These boxes indicate whether the selected Asset event was processed or not in the GL

Transaction Tables.

Company ID

Shows the Company ID to which the Asset belongs.

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Description Selecting the Asset ID will automatically bring up the Asset’s description.

Class ID Shows the Class ID that the Asset belongs to.

Description Shows a description of the Class.

Asset Account (Asset) Shows the GL Account that holds the Asset Acquisition Cost.

Sub-Account Shows the Sub-Account to which the Asset’s Acquisition Cost is posted.

Accumulated Depreciation Account (Asset) Shows the GL Account that holds the Accumulated Depreciation of the Asset, but on the credit side (Negative balance).

Sub-Account Shows the Sub-Account to which the Asset’s Accumulated Depreciation is posted.

Depreciation Expense Account (Expense) Shows the GL Account for posting the Depreciation Expense of the Asset.

Sub-Account – Show Detail Pressing on this button will display the Depreciation Expense Sub Accounts Screen which shows the Sub-Accounts among which the Asset’s Depreciation expense is distributed, along with the proportional distribution. Screen description details are as follows:

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Shows the Sub-Account to which the Asset’s revaluation results are posted.

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Shows the GL Account that holds the Accumulated Depreciation on Revaluation of the

Asset.

Sub-Account

Shows the Sub-Account to which the Asset’s Accumulated Depreciation on the

Revaluation is posted.

Depreciation Expense on Revaluation (Expense)

Shows the GL Account for posting the Depreciation Expense on Revaluation of the

Asset.

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