fixed assets inventory - tenmast.com assets inventory also tracks the location of each asset. this...

Your inside track for making your job easier!

Preliminary User Manual

User Manual Edition: 2/3/2006

For Program version: 2/3/2006

Fixed Assets InventoryFixed Assets Inventory

Tenmast Software132 Venture Court, Suite 1Lexington, KY 40511

www.tenmast.com

Support: (877) [email protected]

Marketing: (877) [email protected]

Fax: (859) 367-7480

WinTen² Fixed Assets InventoryPreliminary User Manual

User Manual Edition: 2/3/2006

For Program Version: 2/3/2006

Copyright © 2006 Tenmast Software. All rights reserved.This manual, as well as the software described in it, is furnished under license and may be used and/or copied only in accordance with the terms of such license. The content of this manual is furnished for informational use only, is subject to change without notice, and should not be construed as a commitment by Tenmast Software. Tenmast Software assumes no liability for any errors or inaccuracies that may appear in this manual.

Except as permitted by such license, no part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, recording, or otherwise, without the prior written permission of Tenmast Software. Permission to produce copies for official use is expressly granted to organi-zations and individuals with a current Update and Support Agreement with Tenmast Software for the maintenance and support of Tenmast Software’s WinTen² Fixed Assets Inventory program.

Any references to company, housing authority, or individual names or identities in examples or screen images are for demonstration purposes only and are not intended to refer to any actual organization or person.

CONTENTSIntroduction

Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.1Feature List . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.1The Fixed Asset Process. . . . . . . . . . . . . . . . . . . . . . . . . 1.3Program Integration. . . . . . . . . . . . . . . . . . . . . . . . . . . 1.4Fixed Assets Inventory Main Menu . . . . . . . . . . . . . . . . . . . . . 1.6Online Help . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.7

Tenmast Best PracticesCyclical Actions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.1

Monthly . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.1Annually . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.2

Maintain Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.1Add Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.2

Use the Add Asset Wizard . . . . . . . . . . . . . . . . . . . . . . 3.3Edit Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.6

Maintain General Asset Information . . . . . . . . . . . . . . . . . . . 3.7Maintain Asset Notes . . . . . . . . . . . . . . . . . . . . . . . 3.10

Monitor Asset Locations . . . . . . . . . . . . . . . . . . . . . . . 3.11Monitor Asset Depreciation . . . . . . . . . . . . . . . . . . . . . . 3.13

Process Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.1Transfer Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.1

Use the Transfer Asset Wizard . . . . . . . . . . . . . . . . . . . . . 4.2Dispose of Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.4

Use the Dispose of Asset Wizard . . . . . . . . . . . . . . . . . . . . 4.4Post Depreciation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.1

Use the Post Depreciation Wizard . . . . . . . . . . . . . . . . . . . . . 5.2

SetupPlan Setup Options . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.1

Plan Asset Classes . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.1Plan Account Classes . . . . . . . . . . . . . . . . . . . . . . . . . . 6.4Plan Asset Types. . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.5Plan Program Policies . . . . . . . . . . . . . . . . . . . . . . . . . . 6.7

Implement Setup . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.1Maintain Default Settings. . . . . . . . . . . . . . . . . . . . . . . . . 7.3Maintain Asset Classes . . . . . . . . . . . . . . . . . . . . . . . . . 7.4Maintain Account Classes . . . . . . . . . . . . . . . . . . . . . . . . 7.6Maintain Asset Types . . . . . . . . . . . . . . . . . . . . . . . . . . 7.10Maintain Disposition Methods . . . . . . . . . . . . . . . . . . . . . . . 7.11Maintain Locations and Location Groups . . . . . . . . . . . . . . . . . . 7.13

Fixed Assets Inventory 2/3/2006 Edition iii

Contents

Maintain Location Groups . . . . . . . . . . . . . . . . . . . . . . . 7.15Maintain Locations . . . . . . . . . . . . . . . . . . . . . . . . . 7.17

Maintain Purchase Types . . . . . . . . . . . . . . . . . . . . . . . . 7.20Maintain Program Policies . . . . . . . . . . . . . . . . . . . . . . . . 7.21

AppendixesCalculating Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . A.1Additional Resources . . . . . . . . . . . . . . . . . . . . . . . . . . . B.1Program Changes for Existing Clients . . . . . . . . . . . . . . . . . . . . C.1

New Account Classes . . . . . . . . . . . . . . . . . . . . . . . . . . C.1Other New Setup Options . . . . . . . . . . . . . . . . . . . . . . . . C.2No Index or Purge Functions . . . . . . . . . . . . . . . . . . . . . . . C.3

Manage Reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . D.1Choose Report Options . . . . . . . . . . . . . . . . . . . . . . . . . D.1

Report Filtering . . . . . . . . . . . . . . . . . . . . . . . . . . . D.2Report Grouping . . . . . . . . . . . . . . . . . . . . . . . . . . D.3Report Order . . . . . . . . . . . . . . . . . . . . . . . . . . . . D.4Report Type . . . . . . . . . . . . . . . . . . . . . . . . . . . . D.4

Preview a Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . D.4Save a Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . D.6Load a Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . D.8Print a Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . D.10

Common Icons . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E.1Keyboard Actions . . . . . . . . . . . . . . . . . . . . . . . . . . . . F.1Glossary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . G.1Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X.1

Fixed Assets Inventory 2/3/2006 Edition iv

PART I:

INTRODUCTION

1OVERVIEW

WinTen² Fixed Assets Inventory allows your housing authority to track and manage all of your fixed assets. The program calculates depreciation and allows you to post it directly to your general ledger.

This chapter provides an overview of the program. Topics addressed include:

• Feature List 1.1

• The Fixed Asset Process 1.3

• Program Integration 1.4

• Fixed Assets Inventory Main Menu 1.6

• Online Help 1.7

FEATURE LISTHere are just some of the ways Fixed Assets Inventory makes your job easier.

Developmental Fund AccountingThe program provides full support for agency-definable developmental fund account-ing and management. Account classes link your fixed assets to specific develop-ments.

General Ledger IntegrationData affecting other WinTen² programs automatically integrates with those programs "live," in real time. This eliminates duplicate data entry and ensures that all users have current information.

Fixed Assets Inventory 2/3/2006 Edition 1.1

Chapter 1: Overview

If you use the WinTen² General Ledger program, your fixed assets will appear auto-matically on your balance sheet. You can also choose to have depreciation post directly to your general ledger, so you don’t have to do it manually.

Asset Locations and Location GroupsYour agency has unlimited flexibility in defining locations and location groups for your assets.

A location tells you exactly where an asset is. Most locations are units, but other loca-tions could include common areas, warehouses, maintenance buildings, and adminis-trative offices.

You can create an asset listing report for your entire agency or for a specific location. A tenant can sign an asset listing report when moving in, acknowledging responsibil-ity for the property in the new unit. An inspector can use an asset listing report to check the property in a unit or at any other location.

Location groups allow you to categorize locations for reporting and management analysis. You can create multi-level location groups—you can have groups within other groups.

FlexibilityWinTen² programs allow your agency to make customizations to reflect your own business processes and make your job easier. In addition to custom locations and account classes, you can define your own asset classes, asset types, purchase types, and disposition methods.

Browse Screens and Drill-downBrowse screens with expanded sorting, filtering, and searching options help you find existing records more easily. You can also drill down to find related records. Expanded drill-down features provide many different ways to get to the same data.

WizardsWinTen² programs feature expanded use of wizards to guide you through complex processes and help ensure that you complete HUD-mandated steps. Fixed Assets Inventory includes wizards to help you add, transfer, and dispose of assets.

Keyboarding OptionsWith WinTen² programs, you can choose to use your computer's mouse or speed data entry by using expanded keyboard shortcuts. You have the option of navigating through Fixed Assets Inventory, entering data, and executing commands by using the keyboard almost exclusively.

SecurityEnhanced user security roles allow managers great flexibility in controlling security access across WinTen² programs.

Custom ReportsWinTen² programs include built-in reports with powerful filters to help track and man-age your agency's data. The Custom Report Writer program allows managers to cre-


Chapter 1: Overview

ate custom reports and make them available in specific programs. Managers can restrict user access to custom reports based on user security roles.

THE FIXED ASSET PROCESSWinTen² Fixed Assets Inventory allows your housing authority to track all of your fixed assets, including their locations. The program calculates depreciation and allows you to post it directly to your general ledger.

Here is a typical fixed asset process for most agencies.

The Governmental Accounting Standards Board (GASB) requires your agency to track all of your fixed assets, also known as "capital assets." You must depreciate each fixed asset over its estimated useful life and report depreciation as an expense on your revenue statement. GASB also requires you to report the current book value of your fixed assets on your balance sheet.

GASB defines fixed assets as "tangible or intangible assets that are used in opera-tions and that have initial useful lives extending beyond a single reporting period" (Paragraph 19 of GASB's Statement 34). In other words, a fixed asset is any asset with a useful life longer than one year.

In addition to this life span test, however, accounting conventions also include a mini-mum purchase cost (or "capitalization threshold") for an asset to be considered a fixed asset. In general, an individual asset must cost at least $500 to be considered a fixed asset. If an asset costs less than $500 individually, but you own many of them (for example, office chairs or desks), you may choose to report them collectively as one fixed asset.

Common examples of fixed assets include computer equipment (such as computers, monitors, and printers), office equipment (such as telephones and copiers), office fur-niture (such as desks, chairs, and cubicles), maintenance equipment (such as vehi-cles and tools), large appliances (such as refrigerators and stoves), buildings, and land. The Fixed Assets Inventory program contains one record for each of your fixed assets.

Depreciating a fixed asset means you do not report the entire cost of the asset during the period in which you acquire it. Instead, you spread the cost over all the years you

Note: Your process may vary slightly, depending on you agency's policies.


Chapter 1: Overview

will use the asset. As you depreciate an asset, its current value on your balance sheet decreases accordingly.

You will post depreciation on a regular basis, usually monthly. The Post Depreciation Wizard automates this process for you. If you use the WinTen² General Ledger pro-gram, you can choose to have depreciation post directly to your general ledger.

Fixed Assets Inventory also tracks the location of each asset. This allows you to have a complete serial-numbered list of the fixed assets in any unit or at any other location at your agency (a "Fixed Asset Listing Report"). A tenant can sign an asset listing report when moving in, acknowledging responsibility for the property in the new unit. An inspector can use an asset listing report to check the property in a unit or at any other location.

You can also run a variety of other reports in the program to help you track and man-age your fixed assets.

From time to time, you may want to transfer a fixed asset from one location to another or to dispose of an asset altogether. The Fixed Assets Inventory program includes wizards to simplify these tasks.

PROGRAM INTEGRATIONFixed Assets Inventory integrates with three other WinTen² programs.

Required ProgramThe Master Setup program is required for Fixed Assets Inventory to function.

Hint: For depreciation purposes, the "cost" does not necessarily mean the purchase cost (or "acquisition cost") of the asset. Instead, it means the acquisition cost minus any salvage value you expect to receive from it at the end of its useful life. This cost is known as the "depreciable basis." (For more information, see Calculating Depreciation on page A.1.)

Hint: For information on any of these programs, please see their respective user manuals or contact Tenmast.


Chapter 1: Overview

Master SetupThe Master Setup program allows the administrator of your WinTen² programs to con-trol various high-level settings that affect how the programs interact with each other. Another important function of Master Setup is to control security permissions, which govern what any individual can see or do in the programs.

Recommended ProgramsThe General Ledger and Custom Report Writer programs integrate with Fixed Assets Inventory to save time and effort for your staff. Although they are optional, we recommend you use them to take full advantage of the features in Fixed Assets Inventory.

General LedgerYour agency maintains your general ledger accounts in the General Ledger program. In the Fixed Assets Inventory program, you will assign general ledger accounts to your asset classes by means of “assets class accounts.” This provides support for developmental fund accounting and allows fixed asset information to appear on your financial statements automatically. It also allows the Fixed Assets Inventory program to post depreciation directly to your general ledger, so you don’t have to do it manu-ally.

Custom Report WriterThe Custom Report Writer program gives you almost complete flexibility in defining and formatting the reports you generate from all of your WinTen² programs. It also offers security settings that let you choose which employees have access to which reports.


Chapter 1: Overview

FIXED ASSETS INVENTORY MAIN MENU

The Main Menu screen is the first thing you see when you start the Fixed Assets Inventory program. It is your starting point for using the program’s four main func-tions: Maintain Assets, Asset Depreciation, Reports, and Maintain Settings. We will discuss each of these in detail later in this manual.

This screen also gives you access to two additional options: Version Date and Exit.

Version DateThe Version Date tells you what version of the program you are running. Use it to learn if a newer version of the program is available and/or to troubleshoot problems with the program.

To See the Version Date:.Click the Information button or select Help menu > About

ExitThe Exit option from the Main Menu screen closes the Fixed Assets Inventory pro-gram.


Chapter 1: Overview

To Exit Fixed Assets Inventory:Press Esc, press X, or click the Exit button.

ONLINE HELPThe Fixed Assets Inventory program includes context-sensitive Help, which is an online version of this user manual. You can start Help from anywhere in the program.

Help is divided into pages called "topics." When you start Help, you will go to a list of topics that correspond to where you are in the Fixed Assets Inventory program. You can choose one of those suggested topics or use Help's Contents, Index, and Search tabs to find other topics.

To Start Help:Press F1 or select Help menu > Contents.


Chapter 1: Overview


PART II:

TENMAST BEST PRACTICES

2CYCLICAL ACTIONS

This chapter provides a typical schedule of Fixed Assets Inventory actions many agencies perform on a regular basis. Schedules addressed include:

• Monthly 2.1

• Annually 2.2

MONTHLY

Post DepreciationYou will post depreciation on a regular basis, usually monthly. The Post Depreciation Wizard automates this process for you. (See Post Depreciation on page 5.1.)

We recommend that you post depreciation each month, but the Fixed Assets Inven-tory program does not require you to do so. Each time you run the Post Depreciation Wizard—no matter when you last ran it—the program automatically calculates and posts all unposted depreciation (up to the posting date you enter in the wizard).

Note: Your cyclical actions may be different, depending on your agency's policies.


Chapter 2: Cyclical Actions

ANNUALLYReview SetupAt least once each calendar year, the administrator of your WinTen² programs should review your Setup options for the Fixed Assets Inventory and Master Setup programs.

If you are running the WinTen² General Ledger or Custom Report Writer programs, please verify their Setup options as well to make sure they are working correctly with Fixed Assets Inventory.

If you have any questions, you may contact Tenmast Support at (877) 359-5492 or [email protected].

Hint: For information on how these programs relate to Fixed Assets Inventory, see Program Integration on page 1.4.


3MAINTAIN ASSETS

You will maintain one asset record for each of your agency’s fixed assets. An asset’s record contains detailed information about the asset, including its location, as well as a variety of information related to its value and depreciation.

Each asset must have one asset type and one account class. You select both when you add an asset. The assigned asset type and account class must always belong to the same asset class.

You do not assign asset classes directly to individual assets. The asset class is assigned by means of the asset type you choose when you add the asset.

After you have added an asset, you can no longer change the asset type. You can, however, change an asset’s account class—when you transfer the asset to a location in a different development. (For information on transferring assets, see Transfer Assets on page 4.1.)

Topics addressed in this chapter include:

• Add Assets 3.2

• Edit Assets 3.6

You can use the Browse Assets Screen to view and find your fixed asset records.

You can use the Maintain Assets Screen to maintain your asset records and to view their detailed information.

To Open the Browse Assets Screen:Press A or click the Assets button on the Main Menu.


Chapter 3: Maintain Assets

Browse Assets Screen

The Browse Assets screen contains a table of your agency’s assets. Only active assets appear by default.

You can add assets from this screen.

This screen also gives you access to the Maintain Assets screen, which contains additional asset information. (For information on using that screen, see Edit Assets on page 3.6.)

ADD ASSETSYou will use the Add Asset Wizard to add asset records. You can add assets individu-ally or in multiple quantities.

For example, if you are adding more than one asset, but they are all identical (such as ten refrigerators), complete the wizard only once. It will create a separate record for each asset.



To Start the Add Asset Wizard:Press Ctrl+A or click the Add icon either on the Browse Assets screen or on the Main tab of the Maintain Assets screen.

USE THE ADD ASSET WIZARD

The Add Asset Wizard will guide you through five steps to create one or more asset records:

1. Select Asset Type

2. Select Account Class

3. Enter Purchase Information

4. Enter Asset Numbers

5. Confirmation

Step 1: Select Asset TypeThis step allows you to select the type of asset you are adding.

This screen offers your agency’s list of asset types, which you maintain in Setup. (See Maintain Asset Types on page 7.10.)

To Complete Step 1:Click in the table to select the type of asset you are adding.

Press PageDown or click the Start button to go to the next step.

Step 2: Select Account ClassThis step allows you to select the account class for the asset. The account class iden-tifies the asset’s development, depreciation method, and useful life, as well as four general ledger accounts for financial reporting.

This screen offers a subset of your agency’s account classes. It shows only those that belong to the same asset class as your selected asset type (from Step 1).

There are two main factors in choosing an account class on this step:

1. the development in which the asset is located

Note: You can also add, edit, or delete asset types directly from this wizard step. The instructions are the same as those for the Maintain Asset Types screen in Setup. For information, see Maintain Asset Types Screen on page 7.10.



2. the useful life of the asset

You maintain your agency’s account classes in Setup. (For information, see Maintain Account Classes on page 7.6.)

To Complete Step 2:Click in the table to select the account class.

Press PageDown or click the Next button to go to the next step.

Step 3: Enter Purchase InformationThis step allows you to enter additional asset information.

Step 3 contains nine data fields: Purchase Date, Purchase Type, Vendor, PO, Invoice, Location, Cost Per Item, Salvage Per Item, and Total Quantity to Add. Purchase Date, Location, and Total Quantity to Add are required. Cost Per Item and Salvage Per Item are also required for depreciable assets.

Purchase DateEnter the date you purchased the asset. This field defaults to today’s date.

Purchase TypeSelect the purchase type for the asset (for example, “new” or “used”).

This field offers your agency’s list of purchase types, which you maintain in Setup. (See Maintain Purchase Types on page 7.20.)

VendorEnter the name of the vendor from whom you purchased the asset.

POIf you issued a purchase order for the asset, enter the purchase order number.

InvoiceIf the vendor sent you an invoice for the asset, enter the invoice number.

LocationSelect the current location of the asset.

This field offers your agency’s list of locations, which you maintain in Setup. (See Maintain Locations and Location Groups on page 7.13.)

Cost Per ItemEnter the purchase cost of the asset. If you are entering a multiple quantity of the same asset, enter the cost per item.



If this is a depreciable asset, the cost per item must be greater than zero and greater than the Salvage Per Item field (below).

Salvage Per ItemEnter the salvage value of the asset. Again, if you are entering a multiple quantity of the same asset, enter the salvage value per item.

The salvage value is the amount you expect to receive from the asset at the end of its useful life.

Total Quantity to AddEnter the quantity of the asset you are adding. This field defaults to “1.”

To Complete Step 3:Tab or click through the fields, entering the information.


Step 4: Enter Asset NumbersThis step allows you to enter one or more identification numbers for each asset you are adding.

Step 4 contains a table of assets. There is one row in the table for each asset you are adding, based on the Total Quantity to Add field from Step 3.

Each asset has at least one editable data field, Serial Number. It is optional.

The Asset Number field may also appear, depending on your agency’s policies. If it appears, it is required.

Asset NumberIf your agency has not chosen the “Auto-Generate Asset Numbers” option in Setup, you must enter a number to identify each asset within your agency. Each asset num-ber must be unique across all of your fixed assets. An asset number can contain up to thirty numbers and/or letters.

Most agencies who choose to enter asset numbers manually do so based on pre-printed asset number tags that they attach to their assets.

Hint: The program uses your selected account class from Step 2 to determine whether this is a depreciable asset. If that account class is not set to “No Depreciation,” these two restrictions apply.

Hint: The “Auto-Generate Asset Numbers” option appears in the Program Policies area of Setup. See Plan Program Policies on page 6.7.



If your agency has chosen the “Auto-Generate Asset Numbers” option, the Asset Number field does not appear on this wizard step. In this case, the Fixed Assets Inventory program enters asset numbers for you.

Serial NumberEnter the asset’s serial number assigned by the manufacturer. This field can also con-tain up to thirty numbers and/or letters.

To Complete Step 4:If necessary, tab or click through the table, entering an asset number for each asset.

Enter serial numbers as desired (optional).


Step 5: ConfirmationStep 5 allows you to confirm the information before you finish adding the asset(s). The fields on this screen are not editable.

To Complete Step 5:If anything is incorrect, press PageUp or click the Back button to go to the previous step(s) and correct it.

If everything is correct, press PageDown or click the Finish button to finish adding the asset(s).

When you finish, the Maintain Assets screen opens.

EDIT ASSETSYou can view or edit asset information on the Maintain Assets Screen.

To Open the Maintain Assets Screen:Edit an asset (press Ctrl+E or click the Edit icon) on the Browse Assets screen.



Maintain Assets Screen

The Maintain Assets screen has non-editable fields at the top of the screen showing the asset number and description of the selected asset.

There are also at least two tabs near the top of this screen: Main and Location. A third tab, Depreciation, appears for depreciable assets.

You can use the Main tab to maintain a variety of general information on any asset.

You can use the Location tab to view a history of each location where an asset has been used or stored, including its current location. (See Monitor Asset Locations on page 3.11.)

You can use the Depreciation tab to view an asset’s book value and a history of its depreciation transactions. (See Monitor Asset Depreciation on page 3.13.)

We will first walk through maintaining general asset information on the Main tab.

MAINTAIN GENERAL ASSET INFORMATION

General asset information includes a variety of data fields related to an asset, includ-ing its purchase, depreciation, and current location.

You can maintain this information on the Maintain Assets Screen: Main Tab.



To Open the Main Tab:This tab appears by default when you open the Maintain Assets screen.

If you have left it, press Ctrl+Tab or click the Main tab (at the upper left).

Maintain Assets Screen: Main Tab

The Main tab contains twenty-two data fields divided into six sections: Basic, Pur-chase Information, Status, Depreciation, Accounts, and Location. You can edit only the text fields that have white backgrounds.

This tab also gives you access to the Transfer Asset Wizard and the Dispose of Asset Wizard (see Process Assets on page 4.1), as well as to the Maintain Asset Notes screen (see Maintain Asset Notes on page 3.10).

BasicThe fields in this section provide basic identification of the asset. You can edit the Description, Asset Number, Serial Number, and Comment fields.

Hint: Many of the fields on this screen are also available from the Add Asset Wizard. For additional information, see Use the Add Asset Wizard on page 3.3.



The Make and Model are set by the asset type selected on Step 1 of the Add Asset Wizard. (See Select Asset Type on page 3.3 and Maintain Asset Types on page 7.10.)

CommentEnter any additional information about the asset that may be helpful for your agency.

Purchase InformationYou cannot manually check or uncheck the Created in PO field.

The Created in PO field is checked if this asset record was created automatically by the WinTen² Purchase Order program. If that is the case, no fields in this section are editable; all the information is provided by the Purchase Order program.

If the Created in PO field is not checked, all the other fields in this section display the values, if any, entered on Step 3 of the Add Asset Wizard (see Enter Purchase Infor-mation on page 3.4). You can edit the Vendor Name, PO Number, Invoice, and Pur-chase Type fields. The purchase Date and purchase Cost are never editable for existing assets.

StatusYou cannot manually check or uncheck the Active field. This field is checked if this asset is still in use. This field is not checked if you have disposed of the asset.

Depreciation and AccountsAll the information in these two sections is set by the account class currently assigned to this asset. You cannot edit these fields directly.

There are three factors in determining which account class to assign:

1. the asset class of the asset

2. the useful life of the asset

3. the development in which the asset is located

You assign an account class on Step 2 of the Add Asset Wizard (see Select Account Class on page 3.3) or on Step 2 of the Transfer Asset Wizard (see Select Account Class on page 4.3).

For information on account classes, see Plan Account Classes on page 6.4.

LocationThis field displays the current location of the asset. You cannot edit it directly.

You set the asset’s location on Step 3 of the Add Asset Wizard (see Enter Purchase Information on page 3.4) or on Step 1 of the Transfer Asset Wizard (see Select Loca-tion on page 4.2).

You can use the Location tab to see a history of all locations where the asset has been used or stored. (See Monitor Asset Locations on page 3.11.)



MAINTAIN ASSET NOTES

The Notes icon on the Main tab of the Maintain Assets screen gives you access to the Maintain Asset Notes Screen.

Asset notes can contain any information or comments that may be helpful for your agency. You can view existing notes or enter additional ones at any time on the Main-tain Asset Notes screen.

To Open the Maintain Asset Notes Screen:Locate the asset for which you wish to see or enter notes.

Open this asset on the Main tab of the Maintain Assets screen. (See Edit Assets on page 3.6.)

Click the Notes icon.

OR

Press Alt+V to open the View menu, and then press T.

Maintain Asset Notes Screen

A note contains three editable data fields: Date, Subject, and Notes. All are required.

The Author field is not editable.



DateThis is the date the note was created.

SubjectThis is a short descriptive subject of the note.

NotesThis is the body of the note.

AuthorThis field automatically displays the user name of the person who created the note.

To Add a Note:Press Ctrl+A or click the Add icon.

Tab or click through the fields, entering the information.

To save, press Ctrl+S or click the Save icon.

(To cancel, press Ctrl+Q or click the Cancel icon.)

To Edit a Note:Select the note you want to edit.

Press Ctrl+E or click the Edit icon.

Tab or click through the fields, changing information as needed.

To save your changes, press Ctrl+S or click the Save icon.


To Delete a Note:Select the note you want to delete.

Press Ctrl+D or click the Delete icon.

Press Y or click the Yes button to confirm the deletion.

(To cancel, press N or click the No button.)

MONITOR ASSET LOCATIONS

The Fixed Assets Inventory program provides a history of all the locations where an asset has been used or stored.

You can see this information on the Maintain Assets Screen: Location Tab.



To Open the Location Tab:Press Ctrl+Tab or click the Location tab (at the upper left) on the Maintain Assets screen.

Maintain Assets Screen: Location Tab

The Location tab contains a history of each location where an asset has been used or stored. The last row of the table shows the asset’s current location.

This tab is for informational purposes only. You cannot edit the information directly.

You can change an asset’s location by using the Transfer Asset Wizard. (See Transfer Assets on page 4.1.)

This tab displays three fields for each location: Date Placed, Source Location, and Destination Location.

Date PlacedThis is the date the asset was placed at the destination location.

Source LocationThis is the location from which you transferred the asset. This field is blank for the first location in the table.



Destination LocationThis is the location where you placed the asset.

To Change the Asset’s Current Location:Click the Wizards icon drop-down arrow, and then click Transfer Asset.

(See Use the Transfer Asset Wizard on page 4.2.)

MONITOR ASSET DEPRECIATION

The Maintain Assets Screen: Depreciation Tab shows a variety of information related to an asset’s value and depreciation. It also shows a history of an asset’s depreciation transactions.

To Open the Depreciation Tab:Press Ctrl+Tab or click the Depreciation tab (at the upper left) on the Maintain Assets screen.

Maintain Assets Screen: Depreciation Tab



The Depreciation tab contains an asset table, a depreciation table, and a summary information section.

This tab is for informational purposes only. You cannot edit any information directly.

This tab also gives you access to the Dispose of Asset Wizard. (See Dispose of Assets on page 4.4.)

The asset table (the first table on the screen) contains one row for the selected asset. It has seven data fields: Method, Cost, Book Value, Salvage, Useful Life, Start Date, and End Date.The depreciation table (the second table on the screen) contains one row for each of this asset’s depreciation transactions. It has four fields for each transaction: Posted Date, GL Account, GL Account Description, and Posted Amount.The summary information section is at the bottom of the screen. It has two fields: Total Remaining Depreciation and Total Posted Depreciation.

MethodThis is the depreciation method assigned to this asset. (For information on deprecia-tion methods, see Calculating Depreciation on page A.1.)

CostThis is the acquisition cost (purchase cost) of the asset.

Hint: Both the depreciation method and the useful life (see below) are set by the account class currently assigned to this asset.



Hint: You enter the asset’s cost and salvage value (see below) on Step 3 of the Add Asset Wizard. (See Enter Purchase Information on page 3.4.) These fields are not editable for existing assets.



Book ValueThe current book value of the asset is equal to its acquisition cost minus its accumu-lated depreciation.

SalvageThe salvage value is the amount you estimate you can receive for the asset at the end of its useful life.

Useful LifeThis is the asset’s estimated useful life (in years).

Start DateThis is the date on which depreciation began for this asset.

An asset’s depreciation start date depends on two things:

1. its acquisition date2. your agency’s depreciation averaging convention

You enter the asset’s acquisition date (purchase date) on Step 3 of the Add Asset Wizard. (See Enter Purchase Information on page 3.4.) It is not editable for existing assets.

Depreciation averaging conventions simplify first-year and last-year depreciation cal-culations by assuming that assets are acquired or disposed of on designated dates throughout the year, instead of on the literal dates on which they are acquired or dis-posed of. For information on averaging conventions, see Calculating Depreciation on page A.1.

End DateThis is the date on which depreciation ends for this asset.

An asset’s depreciation end date is equal to its start date plus its years of useful life.

Posted DateThis is the date on which depreciation posted.

Note: The accumulated depreciation in this calculation includes depreciation through the end of the current month, whether it has been posted or not. This enables the program to calculate the correct book value, regardless of when you last posted depreciation.

Hint: Your agency’s choice of averaging convention is in the Program Policies area of Setup. (See Plan Program Policies on page 6.7.)



GL Account and GL Account DescriptionThese fields display the number and description of the general ledger account to which depreciation posted.

Posted AmountThis is the amount of posted depreciation.

Total Remaining DepreciationThis is the amount of depreciation yet to post during the asset’s useful life, assuming you do not dispose of it first.

An asset’s remaining depreciation is equal to its acquisition cost, minus its salvage value, minus its total posted depreciation (see below).

Total Posted DepreciationThis is the total depreciation that has posted to date for this asset.


4PROCESS ASSETS

From time to time, you may want to dispose of assets or transfer assets from one location to another. This chapter walks you through these processing steps.

Topics addressed include:

• Transfer Assets 4.1

• Dispose of Assets 4.4

You can access these options from the Maintain Assets screen.

To Open the Maintain Assets Screen:Press A or click the Assets button on the Main Menu.

The Browse Assets screen opens with a table of your agency's fixed assets. Only active assets appear by default.

Select the asset you wish to process.


(For information on using the Maintain Assets screen, see Maintain Assets on page 3.1.)

TRANSFER ASSETSYou will use the Transfer Asset Wizard to transfer assets from one location to another. You can access this wizard from either the Main tab or the Location tab of the Main-tain Assets screen.


Chapter 4: Process Assets

To Start the Transfer Asset Wizard:Open the asset record you want to transfer—on either the Main tab or the Location tab of the Maintain Assets screen.

Click the Wizards icon drop-down arrow, and then click Transfer Asset.

USE THE TRANSFER ASSET WIZARD

The Transfer Asset Wizard will guide you through four steps to transfer a single asset from one location to another:

1. Select Location

2. Select Account Class

3. Enter Date Placed

4. Confirmation

Step 1: Select LocationThis step allows you to select the asset’s new location. It contains two sections, loca-tion groups on the left and locations on the right.

The location groups on the left are in an "outline" or "tree" view. If a particular location group has other groups within it, that group has either a plus sign (+) or a minus sign (-) in front of it. Click the plus sign to expand the group and display the other groups within it. Click the minus sign to collapse the group and hide the other groups within it.

If there is no plus or minus sign in front of a particular group, that group has no other groups within it. However, it could still contain individual locations, which will appear on the right.

The location section on the right shows only the locations within the one location group currently selected on the left.

To Complete Step 1:On the left, click to select the location group of the new location.

On the right, click to select the specific location.


Hint: Your agency maintains your locations and location groups in Setup. See Maintain Locations and Location Groups on page 7.13.



Step 2: Select Account ClassThis step allows you to select the account class for the asset. The account class iden-tifies the asset’s development, depreciation method, and useful life, as well as four general ledger accounts for financial reporting.

Step 2 offers a subset of your agency’s account classes. It shows only those that have the same asset class, depreciation method, and useful life that the asset currently has.

The main factor in choosing an account class on this step is the development in which the asset will be located after the transfer.

To Complete Step 2:Click in the table to select the account class.


Step 3: Enter Date PlacedThis step allows you to enter the date of the transfer.

Step 3 contains only one data field, Date Placed. It is required.

Date PlacedEnter the date the asset was placed at the new location. This field defaults to today’s date.

To Complete Step 3:Verify or enter the date you placed the asset at the new location.


Step 4: ConfirmationStep 4 allows you to confirm all of the information before you finish transferring this asset. The fields on this screen are not editable.

To Complete Step 4:If anything is incorrect, press PageUp or click the Back button to go to the previous step(s) and correct it.

If everything is correct, press PageDown or click the Finish button to finish transferring the asset.

Hint: You maintain your account classes in Setup. (For information, see Maintain Account Classes on page 7.6.)



DISPOSE OF ASSETSYou will dispose of fixed assets from time to time, usually by selling them or discard-ing them. Often—but not always—you will do this as an asset comes to the end of its useful life.

Your agency maintains your own custom list of disposition methods in Setup. (See Maintain Disposition Methods on page 7.11.)

You will use the Dispose of Asset Wizard to dispose of assets. You can access this wizard from either the Main tab or the Depreciation tab of the Maintain Assets screen.

To Start the Dispose of Asset Wizard:Open the asset record you want to dispose of—on either the Main tab or the Location tab of the Maintain Assets screen.

Click the Wizards icon drop-down arrow, and then click Dispose of Asset.

USE THE DISPOSE OF ASSET WIZARD

The Dispose of Asset Wizard will guide you through two steps to dispose of an asset:

1. Enter Disposal Information

2. Confirmation

Step 1: Enter Disposal InformationThis step allows you to enter all the information needed to dispose of the asset.

Step 1 contains six editable data fields: Disposition Date, Disposition Type, Dispo-sition Reason, Replaced With, Sold To, and Sale Price. Disposition Date and Dis-position Type are required.

The Disposition Account field is not editable.

Disposition DateEnter the date you disposed of the asset. This field defaults to today’s date.

Disposition TypeSelect how you disposed of the asset (for example, “sold” or “discarded”).

This field offers your agency-defined list of disposition methods, which you maintain in Setup. (See Maintain Disposition Methods on page 7.11.)



Disposition AccountAny net gain or loss on the disposal of the asset will post to this account. (See Sale Price, below.)

The disposition account is set by the account class currently assigned to this asset. You cannot edit this field.



Disposition ReasonEnter the reason you disposed of the asset.

Replaced WithIf you replaced the asset with a different one, enter a short name or text description of the new asset.

This field is for reference and reporting purposes only. It does not create a record for the new asset. (For help on adding asset records, see Add Assets on page 3.2.)

Sold ToIf you sold the asset, enter the name of the purchaser.

Sale PriceIf you sold the asset, enter the sale price.

The Fixed Assets Inventory program will compare this value to the asset’s current book value. Any difference between the two will result in a net gain or loss, which will post to the disposition account (see above).

The book value appears on the Depreciation tab of the Maintain Assets screen. (See Monitor Asset Depreciation on page 3.13.)

To Complete Step 1:Tab or click through the fields, entering the information.


Step 2: ConfirmationStep 2 allows you to confirm all of the information before you finish disposing of this asset. The fields on this screen are not editable.

To Complete Step 2:If anything is incorrect, press PageUp or click the Back button to go to the previous step and correct it.

If everything is correct, press PageDown or click the Finish button to finish disposing of the asset.


5POST DEPRECIATION

Depreciating a fixed asset means you do not report the entire cost of the asset during the period in which you acquire it. Instead, you spread the cost over all the years you will use the asset. As you depreciate an asset, its current value on your balance sheet decreases accordingly. (For information on depreciation, see Calculating Deprecia-tion on page A.1.)

You will post depreciation on a regular basis, usually monthly. Posting depreciation for an asset increases its depreciation expense and decreases its book value by an equal amount. The Post Depreciation Wizard automates this process for you.

The Post Depreciation Wizard posts depreciation per asset class. In other words, you can choose to post for some asset classes, while leaving depreciation unposted for other classes.

We recommend that you post depreciation each month, but the Fixed Assets Inven-tory program does not require you to do so. Each time you run the Post Depreciation Wizard—no matter when you last ran it—the program automatically calculates and posts all unposted depreciation (up to the posting date you enter in the wizard).

If you use the WinTen² General Ledger program, you can choose to have depreciation post directly to your general ledger. This is a program policy option in Fixed Assets Inventory. (See Plan Program Policies on page 6.7.)

To Start the Post Depreciation Wizard:Press D or click the Depreciation button on the Main Menu.


Chapter 5: Post Depreciation

USE THE POST DEPRECIATION WIZARD

The Post Depreciation Wizard will guide you through six steps to post depreciation:

1. Select Asset Class

2. Select Post Date

3. Print Pre-Posting Report

4. Post Depreciation

5. Print Final Posting Report

6. Complete Posting Depreciation

As you complete each step, a green checkmark will appear next to the step title. If the wizard fails on any step, a red "X" will appear next to the step title.

Step 1: Select Asset ClassThis step allows you to select one or more asset classes for which to post deprecia-tion.

Step 1 contains the Selected Asset Class table, which lists your asset classes.

This screen also contains the Mark All and Unmark All functions.

Selected Asset ClassThis table shows a list of your agency's asset classes, which you maintain in Setup. (See Maintain Asset Classes on page 7.4.)



All classes are checked by default. Uncheck any classes for which you do not want to post depreciation.

Mark All and Unmark AllUse these timesaving functions to check or uncheck all classes, respectively.

To Complete Step 1:Press PageDown or click the Start button.

The Select Asset Class to Post screen opens with a list of your agency's asset classes.

Uncheck any classes for which you do not want to post depreciation.

Press Enter or click the OK button to save your choices and close the screen.

A green checkmark appears next to the Select Asset Class step, verifying that you have completed it.

Step 2: Select Post DateThis step allows you select the month for which to post depreciation.

For all asset classes you selected on Step 1, the program will calculate and post all unposted depreciation through the last day of the month you select.

Step 2 contains two data fields: Month and Year. Both are required.

Month and YearSelect the month and year for which to post depreciation. These fields default to the current month and year.

To Complete Step 2:Press PageDown or click the Next button.

On the Select Next Post Month screen, select the month and year.

Press Enter or click the OK button to save your choices and close the screen.

A green checkmark appears next to the Select Post Date step, verifying that you have completed it.

Step 3: Print Pre-Posting ReportThis step allows you view and print a report of all depreciation you are about to post.

Note: Examine the pre-posting report carefully. If you find any errors, exit the wizard and make any necessary corrections to your asset records. (See Edit Assets on page 3.6.)



You can choose two options for the report: Report Ordered By and Report Grouped By.

Report Ordered ByYou can sort the report by asset description, asset number, or asset acquisition date.

Report Grouped ByYou can group the report by asset class, asset account, or asset location.


On the Depreciation Report Selection screen, select your options for the report.

Press Enter or click the OK button.

A report preview screen opens with the Fixed Asset Pre-Posting Report.

For help on using a report preview screen, see Preview a Report on page D.4.

View or print the report as needed. Verify that there are no errors. **

Press Alt+C or click the Close button to close the report preview screen.

A green checkmark appears next to the Print Pre-Posting Report step, verifying that you have completed it.

** If You Find an Error on the Pre-Posting Report:Print or save the report. (For help, see Manage Reports on page D.1.)


Press Esc or click the Exit icon to close the Post Depreciation Wizard.

Use the report to make any necessary corrections to your asset records. (For help, see Edit Assets on page 3.6.)

Restart the Post Depreciation Wizard.

Step 4: Post DepreciationStep 4 posts your depreciation within the Fixed Assets Inventory program. If you have chosen automatic posting to WinTen² General Ledger, completing this step also posts your depreciation transactions to your general ledger.


CAUTION: After you have completed this step, you cannot “undo” it by going back or by canceling the wizard.!



A green checkmark appears next to the Post Depreciation step, verifying that you have completed it.

Step 5: Print Final Posting ReportThis step allows you view and print a report of all depreciation you just posted. (Step 5 is identical to Step 3, except the depreciation has already posted.)

You can choose two options for the report: Report Ordered By and Report Grouped By.

Report Ordered ByYou can sort the report by asset description, asset number, or asset acquisition date.

Report Grouped ByYou can group the report by asset class, asset account, or asset location.


On the Depreciation Report Selection screen, select your options for the report.

Press Enter or click the OK button.

A report preview screen opens with the Fixed Asset Posted Depreciation Report.

For help on using a report preview screen, see Preview a Report on page D.4.

Verify that there were no errors in posting.

Print or save the report for your records (optional). (For help, see Manage Reports on page D.1.)


A green checkmark appears next to the Print Final Posting Report step, verifying that you have completed it.

Step 6: Complete Posting DepreciationStep 6 completes the wizard.


A message box opens, telling you that you have completed the wizard.

Press Enter or click the OK button to close the wizard and return to the Main Menu.


PART III:

SETUP

6PLAN SETUP OPTIONS

Each WinTen² program has a variety of Setup options. These options allow your agency to customize the program to best meet your needs and make your job easier.

You should carefully plan and enter your Setup options before using the Fixed Assets Inventory program. The administrator of your WinTen² programs should also review your Setup options at least annually.

This chapter addresses some of the more important options you should consider. Asset classes and asset types allow you to label and categorize your fixed assets for management and reporting. Account classes link fixed assets to your developments, providing support for developmental fund accounting. Program policies allow for more flexible customization of the Fixed Assets Inventory program.

Topics addressed in this chapter include:

• Plan Asset Classes 6.1

• Plan Account Classes 6.4

• Plan Asset Types 6.5

• Plan Program Policies 6.7

PLAN ASSET CLASSESAn asset class is a broad category or classification of assets. Asset classes allow you to categorize your fixed assets for management reporting and analysis. They also tie together your asset types, account classes, and individual fixed assets.

The Fixed Assets Inventory program gives you complete flexibility in defining your asset classes, but HUD provides guidelines based on GAAP (Generally Accepted


Chapter 6: Plan Setup Options

Accounting Principles) for governmental accounting. HUD recommends the following seven classifications (Accounting for Fixed Assets, PHA GAAP Flyer, Vol. 1 Issue 2, June 1999, page 5):

1. Land

2. Buildings

3. Building improvements

4. Furniture and fixtures - Dwelling

5. Furniture and fixtures - Administration

6. Equipment - Dwelling

7. Equipment - Administration

You might choose to use slightly different names for your asset classes. You might subdivide one or more of these seven into additional classes. It is also possible that your agency might not need all seven. Some agencies, for instance, do not have fixed assets that fall in HUD’s “Furniture and fixtures - Dwelling” category. Most assets located in your dwelling units, such as appliances, typically belong in the “Equipment - Dwelling” category.

An Asset Class record in the Fixed Assets Inventory program contains two data fields, Class Code and Description. The class code is a short identifier, and the description is a longer name or text description of the asset class.

Both fields are required, and both can contain letters and/or numbers. The Class Code field can be up to ten characters. The Description field can be up to sixty char-acters, but thirty or fewer usually works best.

Here is a customized list of asset classes we suggest for most housing authorities. Consider using it as a starting point for planning your own.

Notice that we have modified HUD’s names slightly in some of our descriptions. We have also separated “Equipment - Administration” into three asset classes and have not used “Furniture and fixtures - Dwelling” at all.

Your asset classes also tie together your account classes, asset types, and individual fixed assets.

Class Code Description Corresponding HUD CategoryCMP-EQP Computer Equipment Equipment - AdministrationOFC-EQP Office Equipment Equipment - AdministrationOFC-FRN Office Furniture Furniture and fixtures - AdministrationMNT-EQP Maintenance Equipment Equipment - AdministrationUNT-EQP Unit Equipment Equipment - DwellingLAND Land LandBLDG Buildings BuildingsBLD-IMP Building Improvements Building improvements



For each of your asset classes, you will define at least one account class for each development that could use that asset class. An account class defines one deprecia-tion method, one useful life, and a set of general ledger accounts for fixed assets. (See Plan Account Classes, below.) Each asset class must also be assigned to one or more asset types. Asset types are subdivisions of asset classes. Asset types help speed data entry when you are entering new assets in the program. (See Plan Asset Types on page 6.5.)

An individual asset has both an asset type and an account class. Each asset must have one and only one asset type and one and only one account class. You select both when you add an asset. (You do not assign asset classes directly to individual assets. The asset class is assigned by means of the asset type you choose when you add the asset.)

After you have added an asset, you can no longer change the asset type. You can, however, change an asset’s account class—when you transfer the asset to a location in a different development. The assigned asset type and account class must always

AccountClass(es)

Depreciation MethodUseful LifeGeneral Ledger Accounts:

AssetDepreciation ExpenseAccumulated DepreciationDisposition

* Each asset class can beassociated with multiple assettypes and multiple accountclasses.

* Each individual asset musthave only one asset type andonly one account class, bothof which must belong to thesame asset class.

AssetType(s)

Asset Class

IndividualAsset



belong to the same asset class. (For information on adding and transferring individual assets, see Add Assets on page 3.2 and Transfer Assets on page 4.1.)

After you have planned your asset classes, enter them in the Fixed Assets Inventory program. For help on setting up your Asset Class records, see Maintain Asset Classes on page 7.4.

PLAN ACCOUNT CLASSESThe primary purpose of account classes is to support developmental fund accounting. They enable you to transfer assets from one development to another, while ensuring that the assets are always reported correctly on your financial statements.

An account class defines one depreciation method, one useful life, and a set of gen-eral ledger accounts for one asset class within one development. Your agency will have one account class for each possible combination of asset class, development, and useful life.

As an example, let’s say one of your asset classes is “Unit Equipment.” It is used for assets, such as refrigerators and stoves, that are located in your tenants’ units. Let’s assume your agency uses two different useful lives for this class, seven years and ten years.

Let’s also assume your agency has two developments, Development A and Develop-ment B. For purposes of the Fixed Assets Inventory program, you will also define a third development—we’ll call it “Admin.” You will use the Admin development for any assets that are being used by all of your developments. This would include furniture and equipment in your main administrative office(s), as well as maintenance equip-ment. You will also use the Admin development for assets stored in any central ware-house.

Because the Unit Equipment asset class uses two different useful lives, it will need two account classes for each development (one for seven years and one for ten years). Therefore, you will need six account classes for this asset class (3 develop-ments X 2 useful lives). Here are the six account classes for unit equipment:

1. Unit Equipment - Admin - 7 YR

2. Unit Equipment - Admin - 10 YR

3. Unit Equipment - Dev A - 7 YR

4. Unit Equipment - Dev A - 10 YR

5. Unit Equipment - Dev B - 7 YR

6. Unit Equipment - Dev B - 10 YR

Follow the same steps to identify all the account classes you will need for each of your asset classes. For each asset class, you can use the formula we used above



(number of developments X number of useful lives) to determine the number of Account Class records you need.

An Account Class record contains eight data fields: Description, Class, Deprecia-tion Method, Useful Life, Asset Account, Depreciation Expense Account, Accu-mulated Depreciation Account, and Disposition Account. Description, Class, Depreciation Method, and Useful Life are required. The four account fields are also required if you want to have depreciation post directly to your general ledger.

The description is a name or text description to identify the record. It can be up to sixty letters and/or numbers, but twenty-five or fewer usually works best.

Since the asset class, development, and useful life are the determining factors in identifying your account classes, we strongly recommend you include these three ele-ments in the description (as we have in our six examples above). This makes for eas-ier identification, even though the asset class and useful life are also entered in their own separate data fields.

The Depreciation Method field identifies the depreciation method for the asset class. The options are straight-line depreciation or no depreciation. (For information on depreciation methods, see Calculating Depreciation on page A.1.)

The four account fields identify general ledger accounts associated with fixed assets. These accounts should correspond to the development associated with the account class. (For information on these account fields, see Maintain Account Classes Screen on page 7.7.)

You must assign each individual asset to an account class. When you add an asset, you will select an account class on Step 2 of the Add Asset Wizard. (See Add Assets on page 3.2.) When you transfer an asset, you will select an account class on Step 2 of the Transfer Asset Wizard. (See Transfer Assets on page 4.1.)

After you have planned your account classes, enter them in the Fixed Assets Inven-tory program. For help on setting up your Account Class records, see Maintain Account Classes on page 7.6.

PLAN ASSET TYPESAn asset type is a narrow category or classification of assets, such as filing cabinet or refrigerator. Asset types are subdivisions of asset classes. They help speed data entry when you are entering new assets in the program.

For many of your fixed assets, you likely have a large quantity of identical items (refrigerators or desks, for example). Asset types allows you to select the existing description when you are adding an asset, instead of having to retype it each time.



You have complete flexibility in defining your asset types. You can choose to make them very generic (such as “range” or “phone”) or you can make them very specific (such as “Toyota T100 truck”). Most likely, you will have some of both.

An Asset Type record contains six data fields: Description, Class, Manufacturer, Make, Model, and Extended Description. Description and Class are required.

The description is a name or text description to identify the asset type. It can be up to sixty letters and/or numbers, but thirty or fewer usually works best.

Each asset type must belong to an asset class. This puts your assets in the correct categories and links them—by means of account classes—to the correct develop-ments and general ledger accounts.

The remaining fields are optional. Enter the manufacturer, make, and/or model if you want to make an asset type very specific. Omit them for a generic asset type. The extended description allows you to enter additional information that may be helpful for your agency.

The possible asset types are limitless. Here are just a few examples:

After you have planned your asset types, enter them in the Fixed Assets Inventory program. For help on setting up your Asset Type records, see Maintain Asset Types on page 7.10.

When you add an asset, you will select an asset type on Step 1 of the Add Asset Wiz-ard. (See Add Assets on page 3.2.) You can also add, edit, or delete asset types on the fly directly from this wizard step.

Description Class Manufacturer Make ModelChair, Executive Office EquipmentChair, Executive Office Equipment Heyworth H750Filing Cabinet, 5-Drawer

Office Equipment

Filing Cabinet, 5-Drawer

Office Equipment Hon F105

Heat Pump, 18,000 BTU

Unit Equipment

Heat Pump Unit Equipment Trane T1500Truck Maintenance

EquipmentTruck Maintenance

EquipmentToyota T100



PLAN PROGRAM POLICIESProgram policies are advanced options within Fixed Assets Inventory that can affect many different aspects of the program's behavior.

Tenmast staff members will set up your initial policy choices for you. If you want to change any of your choices, please contact Tenmast to discuss the decision. Chang-ing policy choices may have far reaching effects on the program’s behavior and on your agency’s data.

The Fixed Assets Inventory program contains four policy options: Auto-Generate Asset Numbers, Depreciation Averaging Convention, Post Depreciation to Gen-eral Ledger, and Post Summary Depreciation.

Auto-Generate Asset NumbersThis is a “yes or no” option. It affects the asset numbers for new assets, which are assigned on Step 4 of the Add Asset Wizard. (See Add Assets on page 3.2 and Enter Asset Numbers on page 3.5.)

If you choose “no,” you must manually enter a unique asset number for each new asset. You will usually choose this option if you use preprinted asset number tags that you affix to your assets. You will enter each asset’s number from its preprinted tag.

If you choose “yes,” the Fixed Assets Inventory program will automatically assign asset numbers for you.

Depreciation Averaging ConventionYou can choose one of four depreciation averaging conventions: Full Month, Mid-Month, Mid-Quarter, and Half-Year.Depreciation averaging conventions simplify first-year and last-year depreciation cal-culations by assuming that assets are acquired or disposed of on designated dates throughout the year, instead of on the literal dates on which they are acquired or dis-posed of. (For information on depreciation averaging conventions, see Calculating Depreciation on page A.1.)

CAUTION: It is extremely important that you do not change any program policies, expect in direct consultation with Tenmast staff.

!



Post Depreciation to General LedgerThis is a “yes or no” option: Do you want your depreciation to post automatically to your general ledger (GL)?

If you use WinTen² General Ledger, we recommend answering "yes." If you answer "no"—or if you do not use WinTen² General Ledger—you must post your depreciation manually to your ledger.

Post Summary DepreciationThis option is available only if you choose “yes” for Post Depreciation to General Led-ger, above.

This is also a “yes or no” option: When your depreciation transactions post to GL, do you want them to post in summary or in detail?

If you choose "summary," Fixed Assets Inventory will post only one entry to each GL account that is affected by one or more depreciation transactions. (In other words, multiple depreciation transactions affecting the same GL account will be combined into one GL entry.)

If you choose "detail," Fixed Assets Inventory will post a separate entry to GL for each depreciation transaction.

If you are directed by Tenmast staff to change program polices, see Maintain Program Policies on page 7.21.

Note: You must use the WinTen² General Ledger program in order to use this option.


!


7IMPLEMENT SETUP

After planning your Setup options, you must enter your choices into the Fixed Assets Inventory program before you can begin using it. This chapter will walk you step-by-step through entering these options. You will also enter a few simple options we did not discuss in the planning chapter of this manual.

As mentioned above, the administrator of your WinTen² programs should review the planning and implementation of your Setup options at least annually.

You will use the Fixed Asset Setup Screen to enter your options.

To Open the Fixed Asset Setup Screen:Press S or click the Setup button on the Main Menu.

Note: Please be especially careful when entering Setup options. Inaccurate settings can cause Fixed Assets Inventory to function in an unexpected manner.


Chapter 7: Implement Setup

Fixed Asset Setup Screen

The Fixed Asset Setup screen gives you access to eight different Setup areas, each with its own screen:

• Maintain Default Settings 7.3

• Maintain Asset Classes 7.4

• Maintain Account Classes 7.6

• Maintain Asset Types 7.10

• Maintain Disposition Methods 7.11

• Maintain Locations and Location Groups 7.13

• Maintain Purchase Types 7.20

• Maintain Program Policies 7.21



MAINTAIN DEFAULT SETTINGSFixed Asset Default Settings contains high-level options that can affect multiple areas of the program.

You will use the Fixed Asset Settings Screen to view and maintain this information.

To Open the Settings Screen:Press S or click the Settings button on the Setup screen.

Fixed Asset Settings Screen

The Fixed Asset Settings screen gives you access to the Change Color option and to your agency contact information.

To change your contact information, you must be in Edit mode. To change color, you must not be in Edit mode.

Change ColorSome agencies choose to color code their WinTen² financial programs so they know at a glance which program they are using. The Change Color icon allows you to set



the background color of screens in Fixed Assets Inventory. Light colors usually work best.

To Change Background Color:Click the Change Color icon.

In the Color dialog box, click to choose a basic color.OR

Click the Define Custom Colors button and choose a custom color.

Click the OK button.

Agency Contact InformationThe following fields make up your agency's contact information: Organization Name, Address 1 and 2, City, State, Zip, Phone, Fax, and E-mail. This information will appear on various printed forms and reports in Fixed Assets Inventory.

To Edit Contact Information:Press Ctrl+E or click the Edit icon.

Tab or click through the fields, entering or changing information as needed.



MAINTAIN ASSET CLASSESAn asset class is a broad category or classification of assets, such as land, buildings, furniture, or equipment. Asset classes allow you to categorize your fixed assets for management reporting and analysis. They also tie together your asset types, account classes, and individual fixed assets. (See Plan Asset Classes on page 6.1.)

You do not assign asset classes directly to individual assets. The asset class is assigned by means of the asset type you choose when you add the asset.

You must assign each asset class to at least one account class and at least one asset type. The Asset Class field appears on the Maintain Account Classes screen (see Maintain Account Classes on page 7.6) and on the Maintain Asset Types screen (see Maintain Asset Types on page 7.10).

This field also appears on the Main tab of the Maintain Assets screen, but it is not editable for existing assets. (See Maintain General Asset Information on page 3.7.)

You will use the Maintain Asset Classes Screen to view and maintain your agency's list of asset classes.



To Open the Maintain Asset Classes Screen:Press C or click the Asset Class button on the Setup screen.

Maintain Asset Classes Screen

An asset class contains two data fields: Class Code and Description. Both are required.

Class CodeThis is a short code to identify the asset class. It can be up to ten letters and/or num-bers.

DescriptionThis is your agency’s text description to identify the asset class. It can be up to sixty letters and/or numbers, but thirty or fewer usually works best.

To Add an Asset Class:Press Ctrl+A or click the Add icon.

Tab or click through the fields, entering the class code and description.





To Edit an Asset Class:Select the asset class you want to edit.





To Delete an Asset Class:Select the asset class you want to delete.




MAINTAIN ACCOUNT CLASSESAn account class defines one depreciation method, one useful life, and a set of gen-eral ledger accounts for one asset class within one development. Your agency will have one account class for each possible combination of asset class, development, and useful life. (See Plan Account Classes on page 6.4.)

You must assign each individual asset to an account class. When you add an asset, you will select an account class on Step 2 of the Add Asset Wizard. (See Add Assets on page 3.2.) When you transfer an asset, you will select an account class on Step 2 of the Transfer Asset Wizard. (See Transfer Assets on page 4.1.)

For each asset, fields from the Account Class record also appear on the Main tab of the Maintain Assets screen, but you cannot edit them directly on that screen. (See Maintain General Asset Information on page 3.7.) These fields include the deprecia-tion method, useful life, and general ledger accounts. You can change this information for an asset only by transferring the asset with the Transfer Asset Wizard.

You will use the Maintain Account Classes Screen to view and maintain your agency's account classes.

To Open the Maintain Class Accounts Screen:Press A or click the Asset Accounts button on the Setup screen.

Note: You cannot delete an asset class you have assigned to any asset type or account class. You will usually delete only asset classes you have never used.



Maintain Account Classes Screen

An Account Class record contains eight data fields: Description, Class, Deprecia-tion Method, Useful Life, Asset Account, Depreciation Expense Account, Accu-mulated Depreciation Account, and Disposition Account. Description, Class, Depreciation Method, and Useful Life are required. The four account fields are also required if you want to have depreciation post directly to your general ledger.

Assigning general ledger accounts allows fixed asset information to appear on your agency's balance sheet, revenue statement, and other financial reports. These accounts should correspond to the development associated with the account class.

If your agency uses the WinTen² General Ledger program, each of the four account fields is a drop-down list that allows you to select from your general ledger account numbers. If your agency does not use the WinTen² General Ledger program, type the appropriate account number in each field.

These accounts also allow the Fixed Assets Inventory program to post depreciation directly to your general ledger. If you want to use the direct posting feature, you must



use the WinTen² General Ledger program, and you must select all four account fields for each account class.

DescriptionThis is your agency’s text description to identify this account class. It can be up to sixty letters and/or numbers, but twenty-five or fewer usually works best.

We strongly recommend including the asset class, development, and useful life in the description (for example, “Unit Equipment - Dev B - 7 YR”).

ClassThis is the asset class for this record.

This field offers your agency-defined list of asset classes, which you also maintain in Setup. (See Plan Asset Classes on page 6.1 and Maintain Asset Classes on page 7.4.)

Depreciation MethodThis is the depreciation method for this record. The options are straight-line deprecia-tion or no depreciation. (For information on depreciation methods, see Calculating Depreciation on page A.1.)

Useful LifeThis is the estimated useful life (in years) of assets in this account class.

Asset AccountFor assets in the chosen development, this is the general ledger account through which assets appear on your agency's balance sheet. This is usually an account with a line item of 1400 (Fixed Assets) or a sub account of 1400.

Depreciation Expense AccountThis is the general ledger account to which depreciation expense posts for assets in the chosen development. This is usually an account with a line item of 4800 (Depreci-ation Expense).

Accumulated Depreciation AccountFor assets in the chosen development, this is the general ledger asset account through which accumulated depreciation appears on your agency's balance sheet. This is usually an account with a line item of 1405 (Accumulated Depreciation).

Hint: The automatic posting option appears in the Program Policies area of Setup. See Plan Program Policies on page 6.7.

For information on general ledger accounts, balance sheets, and revenue statements, please see the user manual for WinTen² General Ledger.



Disposition AccountThis is the general ledger account to which a net gain or loss posts when you dispose of an asset in the chosen development. This is usually an account with a line item of 3490 (Gain or Loss on Sale of Fixed Assets). It can sometimes be an account with a line item of 6110 (Gain or Loss from Disposition of Real Property) or 6120 (Gain or Loss from Disposition of Nonexpendable Equipment).

To Add an Account Class:Press Ctrl+A or click the Add icon.




To Edit an Account Class:Select the record you want to edit.





To Delete an Account Class:Select the record you want to delete.




Note: You cannot change the Depreciation Method field if you have assigned the account class to any asset.

Note: You cannot delete an account class you have assigned to any asset. You will usually delete only account classes you have never used.



MAINTAIN ASSET TYPESAn asset type is a narrow category or classification of assets, such as filing cabinet or refrigerator. Asset types help speed data entry when you are entering new assets in the program. (See Plan Asset Types on page 6.5.)

Each asset type is a subdivision of an asset class.

When you add an asset, you will select an asset type on Step 1 of the Add Asset Wiz-ard. (See Add Assets on page 3.2.)

You will use the Maintain Asset Types Screen to view and maintain your agency's list of asset types.

To Open the Maintain Asset Types Screen:Press T or click the Asset Type button on the Setup screen.

Maintain Asset Types ScreenAn asset type contains six data fields: Description, Class, Manufacturer, Make, Model, and Extended Description. Description and Class are required.

DescriptionThis is your agency’s text description to identify the asset type. It can be up to sixty letters and/or numbers, but thirty or fewer usually works best.

ClassSelect the asset class for this asset type.

This field offers your agency-defined list of asset classes, which you also maintain in Setup. (See Plan Asset Classes on page 6.1 and Maintain Asset Classes on page 7.4.)

Manufacturer, Make, and ModelThis is the manufacturer, make, and/or model for this asset type.

These fields are optional. Enter this information if you want to make the asset type very specific. Omit it for a generic asset type.

Extended DescriptionThis optional field allows you to enter additional information that may be helpful for your agency.

Note: You can also add, edit, or delete asset types directly from Step 1 of the Add Asset Wizard.



To Add an Asset Type:Press Ctrl+A or click the Add icon.




To Edit an Asset Type:Select the asset type you want to edit.





To Delete an Asset Type:Select the asset type you want to delete.




MAINTAIN DISPOSITION METHODSDisposition methods simply identify how you disposed of assets. Common examples are “sold,” “discarded,” “retired,” and “lost.” Your agency has complete flexibility in defining the disposition methods you want to use.

You will select a disposition method each time you dispose of an asset. This field appears on Step 1 of the Dispose of Asset Wizard. (See Dispose of Assets on page 4.4.)

Note: You cannot change the Asset Class field if you have assigned the asset type to any asset.

Note: You cannot delete an asset type you have assigned to any asset. You will usually delete only asset types you have never used.



You will use the Maintain Disposition Methods Screen to view and maintain your agency's list of possible disposition methods.

To Open the Maintain Disposition Methods Screen:Press D or click the Disposition button on the Setup screen.

Maintain Disposition Methods Screen

A disposition method contains only one data field, Description. It is required.

DescriptionThis is your agency’s name or description to identify the disposition method. It can be up to forty letters and/or numbers.

To Add a Disposition Method:Press Ctrl+A or click the Add icon.

Enter the description.



To Edit a Disposition Method:Select the disposition method you want to edit.




Change the description as needed.



To Delete a Disposition Method:Select the disposition method you want to delete.




MAINTAIN LOCATIONS AND LOCATION GROUPS

Locations and location groups let you track where assets are being used or stored. Your agency has complete flexibility in defining the locations and location groups you want to use.

Location groups allow you to categorize locations for reporting and management analysis. You can create multi-level location groups—you can have groups within other groups. This allows you to create them in a hierarchy, like an organizational chart or a family tree.

The hierarchy of your groups should reflect the physical organization of your housing authority. Your housing authority itself is at the top of the hierarchy, followed by your developments. (You will also want to include one or more groups for your administra-tive offices, maintenance buildings, and warehouses.) Within each development, the next level might be tracts or buildings. Your buildings may or may not have wings that you want to include as groups.

Here’s an example of how you might organize your location groups:

Tenmast Housing Authority

: Admin

: : Main Office

: : Maintenance

: : Warehouse



: Development A

: : Building 1

: : Building 2

: Development B

: : Building 1

: : Building 2

Most location groups contain one or more locations. Some higher level groups might not contain locations, only other groups.

You must assign each asset to a location. A location is a specific place (such as a unit, community room, office, or storage room) where an asset can be used or stored. Most of your locations will be units.

You will use the Maintain Locations Screen to view and maintain your agency's list of locations and location groups.

To Open the Maintain Locations Screen:Press L or click the Location button on the Setup screen.

Maintain Locations Screen



The Maintain Locations screen has a non-editable field at the top of the screen to identify the location group you have currently selected.

There are also two tabs near the top of this screen: Location Group and Location.You can use the Location Group tab to view and maintain your location groups.

You can use the Location tab to view and maintain your individual locations. (See Maintain Locations on page 7.17.)

We will first walk through maintaining location groups on the Location Group tab.

MAINTAIN LOCATION GROUPS

A location group can contain other location groups, individual locations, or both. This allows you to organize you locations in a hierarchy, which gives you greater flexibility in tracking and reporting on your assets. You can run reports that list the assets located at any place in the hierarchy.

You will use the Maintain Locations Screen: Location Group Tab to view and maintain your location groups.

To Open the Location Group Tab:This tab appears by default when you open the Maintain Locations screen.

If you have left it, press Ctrl+Tab or click the Location Group tab (at the upper left).



Maintain Locations Screen: Location Group Tab

This tab contains a list of your agency's location groups in an "outline" or "tree" view. This view allows you to see them in a hierarchy, like an organizational chart or a fam-ily tree.

If a particular location group has other groups within it, that group has either a plus sign (+) or a minus sign (-) in front of it. Click the plus sign to expand the group and display the other groups within it. Click the minus sign to collapse the group and hide the other groups within it.

If there is no plus or minus sign in front of a particular group, that group has no other groups within it. However, it could still contain individual locations, which appear on the Location tab.

A location group has only one data field, Description. It is required.

DescriptionThis is a short name or text description to identify the location group. It can contain up to sixty letters and/or numbers, but twenty-five or fewer usually works best.



To Add a Location Group:Select the group in which to add a new group. In other words, select the “parent” of the new group. You will create the new group within the group you select.

Press Ctrl+A or click the Add icon.

Enter the group description.

To save this new group, press Ctrl+S or click the Save icon.


To Edit a Location Group:Select the group you want to edit.


Edit the Description field as needed.



To Delete a Location Group:Select the group you want to delete.




MAINTAIN LOCATIONS

A location is a specific place (such as a unit, community room, office, or storage room) where an asset is being used or stored.

Each location must exist within a location group. You must enter a location's group in the Fixed Assets Inventory program before you can enter the location itself. (See Maintain Location Groups, above.)

Hint: You can use the non-editable field at the top of the screen to verify that you have selected the correct group.

Note: You cannot delete a location group that contains any other groups or any individual locations. You will usually delete only groups you have never used.



You must assign each asset to a location. When you add an asset, you will select a location on Step 3 of the Add Asset Wizard. (See Add Assets on page 3.2.) When you transfer an asset, you will select a location on Step 1 of the Transfer Asset Wizard. (See Transfer Assets on page 4.1.)

An asset’s location also appears on both the Main tab and the Location tab of the Maintain Assets screen. (See Maintain General Asset Information on page 3.7 and Monitor Asset Locations on page 3.11.) However, you cannot edit the Location field directly. After you have added the asset, you can change the location only by using the Transfer Asset Wizard.

You will use the Maintain Locations Screen: Location Tab to view and maintain your agency’s locations.

To Open the Location Tab:Select, on the Location Group tab, the group whose locations you want to view.

Press Ctrl+Tab or click the Location tab (at the upper left) on the Maintain Locations screen.

Maintain Locations Screen: Location Tab

The Location tab shows only the locations within the one location group currently selected on the Location Group tab. The name of this group is displayed in the non-editable field at the top of the screen.



A location contains two data fields: Description and Comment. Description is required.

DescriptionThis is a short text description to identify the location. It can contain up to sixty letters and/or numbers, but twenty-five or fewer usually works best.

CommentEnter any additional information about the location that may be helpful for your agency.

To Add a Location:Verify the location group you have selected. You will create the new location within the selected group.

Press Ctrl+A or click the Add icon.




To Edit a Location:Select the location you want to edit.





To Delete a Location:Select the location you want to delete.




Note: You cannot delete a location you have assigned to any asset. You will usually delete only locations that you have never used.



MAINTAIN PURCHASE TYPESPurchase types allow you to report on and analyze your fixed assets based on the terms of their purchase. The most common purchase types are "new" and "used" (meaning, "Was the asset new or used when you purchased it?"). Other examples might include “rebuilt” or “donated.” Your agency has complete flexibility in defining the purchase types you want use.

When you add an asset, you will select a purchase type on Step 3 of the Add Asset Wizard. (See Add Assets on page 3.2.)

This field also appears on the Main tab of the Maintain Assets screen. (See Maintain General Asset Information on page 3.7.)

You will use the Maintain Purchase Types Screen to view and maintain your agency's list of possible purchase types.

To Open the Maintain Purchase Types Screen:Press P or click the Purchase Type button on the Setup screen.

Maintain Purchase Types Screen

A purchase type contains only one data field, Description. It is required.



DescriptionThis is your agency’s name or description to identify the purchase type. It can be up to sixty letters and/or numbers.

To Add a Purchase Type:Press Ctrl+A or click the Add icon.

Enter the description.



To Edit a Purchase Type:Select the purchase type you want to edit.


Change the description as needed.



To Delete a Purchase Type:Select the purchase type you want to delete.




MAINTAIN PROGRAM POLICIESProgram policies are advanced options within Fixed Assets Inventory that can affect many different aspects of the program's behavior. (See Plan Program Policies on page 6.7.)

Note: You cannot delete a purchase type you have assigned to any asset. You will usually delete only purchase types you have never used.



A Tenmast staff member may direct you to modify program policies.

You will use the Browse Policies Screen to view and maintain your agency's program policies.

To Open the Browse Polices Screen:Press O or click the Policies button on the Setup screen.

Browse Policies Screen

The Browse Policies screen contains a policy table with one row of information for each policy available in the Fixed Assets Inventory program.

A program policy contains only one editable data field, Value.

The policy table also displays two non-editable fields: Code and Description.You will edit policies in the Maintain Policy dialog box. This dialog box contains one additional field, Comment. It is not editable.


!



CodeThis is the computer programming code used to identify the policy.

DescriptionThis is a short text description to identify the policy.

CommentThe Comment field provides additional information about the policy, often a list of allowable entries for the Value field.

ValueThis field contains your agency's value or "choice" for the policy option.

To Edit a Program Policy:Verify your policy choice with Tenmast staff.

Select the policy you want to edit.


In the Maintain Policy dialog box, tab or click to the Value field and enter a value as directed by a Tenmast staff member.

To save your change, press Enter or click the OK button.

(To cancel, press Esc or click the Cancel button.)


!


PART IV:

APPENDIXES

ACALCULATING DEPRECIATION

The Fixed Assets Inventory program calculates depreciation for you automatically; you do not need to calculate it manually.

This appendix introduces you to the basics of depreciation. If you are new to working with fixed assets, this will help you better understand what the program does when it calculates depreciation.

Topics addressed in this appendix include:

• Depreciating an Asset A.1

• Straight-Line Depreciation A.1

• Depreciation Averaging Conventions A.3

Depreciating an AssetDepreciating a fixed asset means you do not report the entire cost of the asset as an expense during the period in which you acquire it. Instead, you spread the cost over all the years you will use the asset. As you depreciate an asset, its book value decreases accordingly.

Depreciating an asset serves two accounting purposes:

1. It allows you to report the appropriate cost of the asset on your agency's revenue statement.

2. It allows you to report the appropriate value of the asset on your agency's balance sheet.

Straight-Line DepreciationThere are several different methods of calculating depreciation. HUD recommends you use the straight-line depreciation method because of its simplicity. This method distributes an asset's cost equally to each year of its useful life.

Fixed Assets Inventory 2/3/2006 Edition A.1

Appendix A: Calculating Depreciation

Most other depreciation methods, such as various types of accelerated depreciation, are used for tax purposes. They help determine and/or reduce the owner's taxable income. This is not an issue for public housing authorities.

The Fixed Assets Inventory program supports only the straight-line depreciation method. However, you can also choose not to depreciate certain assets that you track in the program. Land and permanent land improvements, for instance, are not depre-ciated.

For depreciation purposes, the "cost" does not necessarily mean the asset's pur-chase price (its "acquisition cost"). Instead, it means the acquisition cost minus any salvage value you expect to receive from it at the end of its useful life. This cost is known as the "depreciable basis."

Straight-line is the simplest depreciation method. You can calculate it using two basic formulas:

You can also combine these two formulas into one:

As an example, let's say you purchase a desk for $320 (its acquisition cost). You esti-mate that it has a useful life of 10 years, and that you could sell it for scrap and get $20 (its salvage value) at the end of the 10 years. Putting these values into our last formula gives you a straight-line depreciation expense of $30 per year:

Most agencies calculate and post depreciation each month, not just once a year. The same formula applies. To get the monthly depreciation, simply divide the annual depreciation by 12. Your desk will depreciate $2.50 per month ($30/12).

Acquisition Cost - Salvage Value = Depreciable Basis

Depreciable Basis / Useful Life (in years) = Depreciation Expense per Year

= Depreciation Expense per YearAcquisition Cost - Salvage Value

Useful Life (in years)

= $30 per year$320 - $20

10 years



As you depreciate an asset, its book value decreases accordingly. When you first pur-chase the desk, you record no expense at all and record its asset value on your bal-ance sheet as $320.00. The first month, you record the $2.50 of depreciation expense and reduce the desk’s value by $2.50, to $317.50. The second month, you record another $2.50 of depreciation and reduce the asset value to $315.00. This continues throughout the useful life of the asset, unless you dispose of it first.

Depreciation Averaging ConventionsDepreciation averaging conventions determine the correct depreciation for the first year and last year of an asset’s useful life.

The formula discussed above is the basic calculation for straight-line depreciation, but unfortunately, it's not quite so simple in the real world. You almost never own an asset for 100% of the calendar year in which you acquire it or for 100% of the calen-dar year in which you dispose of it. This means you should not report a full year's worth of depreciation for those two years.

Calculating first-year and last-year depreciation based on the exact days you acquire or dispose of assets would become extremely complicated, especially considering the large number of assets most agencies have. Depreciation averaging conventions help simplify this for us.

Averaging conventions assume that assets are acquired (placed in service) or dis-posed of on designated dates throughout the year, instead of on the literal dates on which they are placed in service or disposed of. This determines how much deprecia-tion is allowed when you acquire or dispose of an asset.

The Fixed Assets Inventory program allows your agency to choose one of four depre-ciation averaging conventions: Full Month, Mid-Month, Mid-Quarter, and Half-Year. Here is how each convention determines depreciation:

Full Month

Acquisitions:A full month of depreciation is allowed for the month when you place an asset in ser-vice.

Disposals:No depreciation is allowed for the month when you dispose of an asset.

Example:Your agency’s Fiscal Year End is December 31.

On May 10, 2003, you purchase an asset for $1,000 with a salvage value of $100. This asset is defined as having a 5 year life.

Note: Averaging conventions affect only the first year and the last year an asset is in service. Each year in between receives a full year of depreciation.



The depreciable basis for this asset is $900. ($1,000 acquisition cost minus $100 sal-vage value.)

For the Fiscal Year ending December 31, 2003, the asset will accumulate 8 months of depreciation (May through December).

You sell the asset on May 17, 2005.

The asset has accumulated depreciation as follows, up to the disposition date:

Mid-MonthThe mid-month convention rounds depreciation to the nearest whole month.

Acquisitions:If you place an asset in service during the first half of a month (on or before the 15th), a full month of depreciation is allowed for that month.

If you place an asset in service during the last half of a month (on or after the 16th), no depreciation is allowed for that month.

Disposals:If you dispose of an asset during the first half of a month, no depreciation is allowed for that month.

If you dispose of an asset during the last half of a month, a full month of depreciation is allowed for that month.

Example:We will use the same assumptions as our Full-Month example: an asset purchased on May 10, 2003, and sold on May 17, 2005:

For the Fiscal Year ending December 31, 2003, the asset will accumulate 8 months of depreciation. (You acquired the asset prior to the 15th of May, so it accumulates 100% of May 2003's depreciation.)


Note: The total (accumulated) depreciation for an asset can never exceed its depreciable basis, regardless of the averaging convention, acquisition date, or disposition date.

FY 2003: 8 months.FY 2004: 12 months.FY 2005: 4 months (January through April).

FY 2003: 8 months.



Mid-QuarterThe mid-quarter convention rounds depreciation to the nearest whole quarter (three months).

Acquisitions:If you place an asset in service during the first half of a quarter, a full quarter of depre-ciation is allowed for that quarter.

If you place an asset in service during the last half of a quarter, no depreciation is allowed for that quarter.

Disposals:If you dispose of an asset during the first half of a quarter, no depreciation is allowed for that quarter.

If you dispose of an asset during the last half of a quarter, a full quarter of deprecia-tion is allowed for that quarter.

Example:We will still use the same assumptions: an asset purchased on May 10, 2003, and sold on May 17, 2005:

For the Fiscal Year ending December 31, 2003, the asset will accumulate 9 months of depreciation. (You acquired the asset prior to the 15th of May, so it accumulates 100% of depreciation for the second quarter (Q2) of 2003.)


Half Year

Acquisitions:Six months of depreciation is allowed for the year when you place an asset in service.

FY 2004: 12 months.FY 2005: 5 months. (You disposed of the asset after the 15th of May, 2005, so it accumulates 100% of May 2005's depreciation.)

Hint: For each quarter, “in the first half” means on or before the 15th day of February, May, August, or November, respectively. “In the last half” means on or after the 16th day of these months.

FY 2003: 9 months.FY 2004: 12 months.FY 2005: 6 months. (You disposed of the asset after the 15th of May, 2005, so it accumulates 100% of Q2 2005's depreciation.)



Disposals:Six months of depreciation is allowed for the year when you dispose of an asset.

Example:We will still use the same assumptions: an asset purchased on May 10, 2003, and sold on May 17, 2005:

For the Fiscal Year ending December 31, 2003, the asset will accumulate 6 months of depreciation.


FY 2003: 6 months.FY 2004: 12 months.FY 2005: 6 months.


BADDITIONAL RESOURCES

This manual provides only a brief, general discussion of fixed assets accounting. For additional information, please see these and other resources available from HUD's Web site and from the Governmental Accounting Standards Board (GASB).

1. Accounting for Fixed Assets, PHA GAAP Flyer, Vol. 1 Issue 2, June 1999:

www.hud.gov/offices/reac/pdf/gaapflyer2.pdf

2. GASB Statements 33, 34, and 35. Available for purchase from GASB:

www.gasb.org

Fixed Assets Inventory 2/3/2006 Edition B.1

http://www.hud.gov/offices/reac/pdf/gaapflyer2.pdf

http://www.gasb.org

Appendix B: Additional Resources

Fixed Assets Inventory 2/3/2006 Edition B.2

CPROGRAM CHANGES FOR

EXISTING CLIENTSTenmast clients who have used the WinTen Fixed Assets Inventory program should take special note of the following changes:

• New Account Classes C.1

• Other New Setup Options C.2

• No Index or Purge Functions C.3

NEW ACCOUNT CLASSESOne of the most important changes to WinTen² Fixed Assets Inventory is the addition of account classes. This change enables more flexible support for your agency’s develop-mental fund accounting.In the WinTen program, an Asset Class record contained not only the Asset Class Code and Description fields, but also a Depreciation Method field and a Useful Life field. It also designated four general ledger accounts to use for assets within the class: asset account, depreciation expense account, accumulated depreciation account, and dispo-sition account.In WinTen² Fixed Assets Inventory, the Asset Class record has been split into two records. The Asset Class record itself now contains only the Asset Class Code and Description fields. All other fields now appear on an Account Class record.

Fixed Assets Inventory 2/3/2006 Edition C.1

Appendix C: Program Changes for Existing Clients

An account class defines one depreciation method, one useful life, and a set of gen-eral ledger accounts for one asset class within one development. Your agency will have one account class for each possible combination of asset class, development, and useful life.

You maintain your agency’s asset classes and account classes in Setup. For informa-tion, see Plan Asset Classes on page 6.1 and Plan Account Classes on page 6.4.

OTHER NEW SETUP OPTIONSIn addition to account classes, WinTen² Fixed Assets Inventory contains the following new or changed Setup options: Locations, Purchase Types, and Program Policies.

LocationsIn WinTen Fixed Assets Inventory, as asset’s location was identified by a single text field on the Asset record. You now have the flexibility of predefining your locations and creating multi-level location groups to categorize them.

For information, see Maintain Locations and Location Groups on page 7.13.

Purchase TypesYou can define your own custom purchase types, which identify an asset's condition when you acquired it (for example, new, used, or rebuilt) or how you acquired the asset (for example, donated).

For information, see Maintain Purchase Types on page 7.20.

Program PoliciesProgram policies are advanced options that can affect many different aspects of the program's behavior.

Fixed Assets Inventory contains four policy options: Auto-Generate Asset Numbers, Depreciation Averaging Convention, Post Depreciation to General Ledger, and Post Summary Depreciation.For information, see Plan Program Policies on page 6.7.



NO INDEX OR PURGE FUNCTIONSThe Index Database function and the Purge Disposed function do not exist in WinTen² Fixed Assets Inventory. They are no longer needed because of WinTen²’s new SQL (Structured Query Language) platform.

In WinTen Fixed Assets Inventory, the Index Database function appeared on the Main Menu screen, and the Purge Disposed function appeared in Setup.


DMANAGE REPORTS

WinTen² programs include many built-in reports with powerful options to help track and manage your data. If your agency uses the Custom Report Writer program, you can create custom reports and define who has rights to run them. (For information, see the user manual for WinTen² Custom Report Writer.)

You can manage your reports by choosing from many report options and by preview-ing or printing reports. You can save reports as various file types and can reopen QuickReport files in Fixed Assets Inventory.

Topics addressed in this appendix include:

• Choose Report Options D.1

• Preview a Report D.4

• Save a Report D.6

• Load a Report D.8

• Print a Report D.10

You can use the Reports screen to manage and run your reports.

To Open the Reports Screen:Press R or click the Reports button on the Main Menu.

CHOOSE REPORT OPTIONSReport options allow you to define very precisely what you want to see on a report. They give you tremendous flexibility in reporting on and analyzing your data.

Fixed Assets Inventory 2/3/2006 Edition D.1

Appendix D: Manage Reports

Report options fall into four categories:

• Report Filtering D.2

• Report Grouping D.3

• Report Order D.4

• Report Type D.4

The specific options available can vary greatly from one report to another.

Please note that you cannot save your option choices for standard reports. All report options will return to their defaults if you select a different report, select a different tab of the Reports screen, or close the Reports screen. If you want to set report options permanently, you must define them in custom reports. (For information on custom reports, see the user manual for WinTen² Custom Report Writer.)

To Set Report Options:Locate the report you want to use. Available reports appear on the left side of the Reports screen.

Click the report’s radio button to select it.

The report’s available options appear on the right side of the screen.

Tab or click through the options, verifying or selecting your choice for each.

REPORT FILTERING

Most report options fall in the filter category. Filtering allows you to narrow the results of a report. You can show only records that match one or more criteria that you select.

Use filters to choose or describe what you do want to include in the report. Only records that match your criteria will appear on the report. If you set a filter option to "All" or "None," that option will be ignored—it will have no effect on the report.

The number of different filtering options is almost limitless. The available options can also vary greatly from one report to another. You can filter many reports based on development, project, fund, caseworker, or management code. Many other options allow you to filter by record types, categories, or data fields that are specific to partic-ular WinTen² programs.

One of the most common filters is a date or date range. Below are two examples.



REPORT GROUPING

Grouping is a method of organizing a report into sets of records that have something in common.

A grouped report typically has a sub-heading at the beginning of each group (in addi-tion to the main heading at the beginning of the report). Each sub-heading identifies the element that the records in that group have in common. Many grouped reports have a subtotal line at the end of each group, as well as a grand total line at the end of the report.

As an example, let’s assume you have a report that lists tenants and addresses. You might choose to group the report by zip code. All tenants with a zip code of, say, 40507 would be listed together under a “40507” sub-heading, followed by all tenants with a zip code of 40508, and so on.

This report might have a subtotal line at the end of each group showing the number of tenants in each zip code. The grand total line at the end of the report would show the number of all tenants in all zip codes.

Some reports allow you set sub-groups within the groups. If you sub-grouped the above report by bedroom size, it would list all tenants with zero-bedroom units in zip code 40507, then all tenants with one-bedroom units in zip code 40507, and so on.

The grouping option on a report usually has the label “Grouped By,” or some variation of it.



REPORT ORDER

Ordering simply sets the sort order of a report. Common examples of ordering options are by last name, by Social Security Number, by unit number, by address, by number of bedrooms, or by date.

The ordering option on a report usually has the label “Order By,” or some variation of it.

REPORT TYPE

Some reports give you the option of choosing a summary or detail report.

Summary reports do not contain as much specific information about individual records on the report, but typically include various calculations such as averages or totals to help you analyze the data. Detail reports give more information about each record, but may or may not offer analysis calculations.

This option on a report usually contains the word “detail.”

PREVIEW A REPORTYou may choose to preview a report before you print it. Even if you are not printing it, you may choose just to view it on-screen.



You can use the Preview Report Screen to preview your reports.

To Open the Preview Report Screen:Select the report you wish to view on the Reports screen and choose any options for the report.

Click the Preview icon.

Preview Report Screen

There are six options on the Preview Report screen: Zoom, Change Page, Print, Save Report, Load Report, and Close.

ZoomYou have three choices for zooming the preview (making it larger or smaller): the Zoom to Fit, 100%, and Zoom to Width icons.

The Zoom to Fit and Zoom to Width icons size the page to the window. Zoom to Fit (usually the smallest option) lets you see the entire page, and Zoom to Width (usually the largest option) widens the page to fill the window horizontally. The 100% icon sets the page to its normal, "full" size, regardless of the window size.

To Change the Zoom:Click one of the three zoom icons.

Change PageThe Change Page options let you move from one page of your preview to another. Obviously, they are available only for multiple-page previews. There are four options: the First Page, Previous Page, Next Page, and Last Page icons. Each icon takes you to its respective page.

To Change the Page:Click one of the four page icons.

PrintThe Print option opens a Print Report dialog box from which you can print the report. (See Print a Report on page D.10.)

To Print:Click the Print icon.

Save Report and Load ReportWe will discuss the Save and Load Report options below. (See Save a Report on page D.6 and Load a Report on page D.8.)



CloseThe Close option closes the preview.

To Close:Press Esc, press Alt+C, or click the Close button.

SAVE A REPORTSaving an electronic copy of a report can be an alternative to printing a hard copy. It allows you to take a snapshot of your data at any time. You can also choose to manip-ulate data in the saved report independently of the Fixed Assets Inventory program.

You can save a report in any of several different file types. If you save a report as a QuickReport file, you can reopen it (load it) in Fixed Assets Inventory. (See Load a Report, below.)

The Save Report option is available from the Preview Report screen. (See Preview a Report, above.)

You can use the Save Report Dialog Box to save a report.

To Open the Save Report Dialog Box:Click the Save Report icon on the Preview Report screen.

Note: The data in the saved report is only a snapshot; it will not change as information in the Fixed Assets Inventory program changes. When you need the up-to-date information in the future, run the report again.Because the saved report is a snapshot, you might consider including its date in the file name when you save it.



Save Report Dialog Box

There are three primary fields on the Save Report dialog box: Save In, File Name, and Save as Type.

Save InThe Save In field shows the folder in which you will save the report.

File NameThe file name is the name you will give to the saved report.

Save as TypeYou can save a report as one of six different file types: QuickReport file, Excel spreadsheet, Comma Separated Values, Rich Text Format, Text file, and HTML document. Your choice of file type will depend on how you want to view and/or manipulate your report data.

If you save a report as a QuickReport file (*.QRP) type, you can view it again by reopening (loading) it in the Fixed Assets Inventory program. (See Load a Report, below.) Once you have loaded a report, you can again choose to save a copy of it as any of the six file types.

You can use the Excel spreadsheet (*.XLS) type in Microsoft Excel. The Comma Sep-arated Values (*.CSV) type is similar, but more flexible; you can use it in Excel or in any other spreadsheet program. You can use either file type to import your data into most database programs. (If you want to import into a database, you may first need to manipulate or "clean up" your data.)

The Excel file type allows you to format your report with, for example, formulas, fonts, or borders. The Comma Separated Values file type is text-only, without any format-ting.

You can use RTF (Rich Text Format) (*.RTF) in most word processing programs, such as Microsoft Word or Word Perfect. RTF supports text formatting options such as font, font size, font color, and so on. A Text file (*.TXT) is text-only, without any formatting.



You can view it in any word processing program, but it usually opens in Notepad by default.

Use the HTML document (*.HTM) type to save the report as a Web page viewable in a Web browser, such as Internet Explorer or Netscape Navigator. You might choose this option it you want to post the report to your Internet or intranet site.

To Save a Report:Type a name for the file in the File Name field.

If necessary, tab or click to the Save As Type field and choose the file type.

If necessary, tab or click to the Save In field and choose the folder in which to save the report.

To save the report, press Enter or click the Save button.


LOAD A REPORTIf you have saved any report as a QuickReport file (*.QRP), you can use the Load Report option to view it in Fixed Assets Inventory. Once you have loaded a report, you can again choose to save a copy of it in any of the six available file types. (See Save a Report, above.)

The Load Report option is available from the Preview Report screen. (See Preview a Report on page D.4.)

You can use the Load Report Dialog Box to load a report.

To Open the Load Report Dialog Box:Click the Load Report icon on the Preview Report screen.



Load Report Dialog Box

There are three primary fields on the Load Report dialog box: Look In, File Name, and Files of Type.

Look InThe Look In field shows the folder where you last saved or loaded a report. Use this field, if necessary, to locate the folder that contains your saved report.

File NameThis is the name of the file you want to load. You can type the name directly, but you will usually click to select the file instead.

Files of TypeOnly QuickReport files can be loaded in Fixed Assets Inventory, so this field is not editable.

To Load a Report:If necessary, tab or click to the Look In field and select the folder where your report is stored.

Select the report you wish to load.

To open the report, press Enter or click the Open button.




PRINT A REPORTYou can use the Print Report Dialog Box to print a report.

To Open the Print Report Dialog Box:Select the report you wish to print on the Reports screen.

Choose any options for the report.

Click the Print icon.

(You can also click the Print icon on the Preview Report screen. See Preview a Report on page D.4)

Print Report Dialog Box

There are five primary fields on the Print Report dialog box: Printer, Font Name, Print Range, Number of Copies, and Duplex.

Font NameThe Font Name field shows the default font (typeface) for the printer you have cho-sen. Changing this field will change the font for all text on the report. The available fonts may vary, depending on the printer you have chosen and on the fonts installed on your computer.

To Change the Font:Tab or click to the Font Name field and select the Font.



To Restore the Default Font:Click the Restore Report Font button.

Print RangeThe print range determines which page(s) of the report you will print. The default is “All.” If you do not want to print all the pages, enter a print range.

To Enter a Print Range:Press Alt+G or click the Pages radio button

Enter the first page number you want to print in the From field.

Enter the last page number you want to print in the To field.

DuplexDuplexing prints on both sides of the paper. This affects only multiple-page printouts. You might choose to duplex if you plan to bind the report in some way (such as putting it in a three-ring binder). Not all printers allow duplex printing.

The three options are Off, Long Edge, and Short Edge.Duplex "Long Edge" if you will bind the document on the longest edge of the paper. If you are printing in portrait orientation (as opposed to landscape), this would place the binding vertically between the pages. You would turn the pages from side to side, like a normal book.

Duplex "Short Edge" if you will bind the document on its shortest edge. If you are printing in portrait orientation, this would place the binding horizontally between the pages. You would turn the pages vertically, from bottom to top, like a clipboard.

The default is "Off." This prints on only one side of the paper.

To Change the Duplex Option:Tab or click to the Duplex field and select an option.

To PrintIf necessary, select the printer.

If necessary, tab or click to the Font Name field and select the Font.

To set a print range, press Alt+G or click the Pages radio button and type a number range in the From and To fields.

To change the number of copies, tab or click to the Number of Copies field and type or select a number.

If necessary, tab or click to the Duplex field and select your duplexing option.

To print, press Enter or click the OK button.



ECOMMON ICONS

Common Screen IconsThe following icons appear on many screens throughout WinTen² programs.

Name Purpose ExampleAdd icon Add a record

Cancel icon Cancel changes from edit mode

Change Color icon Change screen color

Delete icon Delete a record

Edit icon Edit a record

Exit icon Exit a screen and return to a menu screen (closes any open browse screens)

Generate Form Letters icon Start the Generate Form Letters Wizard

Next icon View the next record

Notes icon Open the Notes screen

Preview icon Preview a report or printed document

Print icon Print a report or document

Prior icon View the prior record

Fixed Assets Inventory 2/3/2006 Edition E.1

Appendix E: Common Icons

Report Preview Icons and ButtonOne button and several icons appear on the Preview Report screen.

Save icon Save changes from edit mode

Search icon Exit a screen and return to a browse screen to search for other records

Show Form Letters icon View a history of printed form let-ters and reports

Show/Hide icon Show or hide a screen’s detail information section

Tools icon Take action on a record (select from a menu of options)

Wizards icon Start a wizard (select from a menu of wizards)

Name Purpose ExampleClose button Close the preview

First Page icon View the first page of a report

Last Page icon View the last page of a report

Load Report icon Load (open) a saved report

Next Page icon View the next page of a report

Previous Page icon View the previous page of a report

Print Report icon Print a report

Save Report icon Save a report

Zoom to Fit icon Zoom a report to fit one entire page in the preview window

100% (Zoom) icon Zoom a report to 100% size in the preview window

Zoom to Width icon Zoom a report to fill the preview window horizontally

Fixed Assets Inventory 2/3/2006 Edition E.2

FKEYBOARD ACTIONS

All WinTen² programs offer expanded options for using the keyboard to speed data entry.

When working in WinTen² programs, many users prefer to point and click with the mouse to execute commands. Those options are available, if you want to use them. However, as you become more comfortable with your computer in general and with WinTen² programs in particular, you may find it quicker and easier to use "keyboard shortcuts" to execute commands.

This appendix includes an introduction to using keyboard shortcuts, followed by a list of some of the more common keyboard options. Topics addressed include:

• Using Keyboard Shortcuts F.1

• Common Shortcuts F.6

Using Keyboard ShortcutsThis section introduces you to the following keyboard concepts:

• Pressing vs. Clicking F.2

• Key Combinations F.2

• Focus F.2

• On-Screen Hints F.4

• Menus F.5

• Type Ahead F.5

Fixed Assets Inventory 2/3/2006 Edition F.1

Appendix F: Keyboard Actions

Pressing vs. ClickingWhen a WinTen² user manual instructs you to "press" a key or keys, it refers to press-ing keys on your keyboard. For example, "press Enter" means "press the Enter key on your keyboard." "Press Spacebar" means "press the spacebar key."

When a WinTen² user manual instructs you to "click" a button or icon, it refers to using the mouse to click something on the computer screen. For example, "click the Setup button" means "use your mouse to click the Setup button on the screen."

Key CombinationsMost keyboard shortcuts use more than one key at a time. Key combinations are often the Alt (Alternate) or Ctrl (Control) key, followed by a letter or number key.

WinTen² user manuals abbreviate key combinations in the format key+key. For exam-ple, "press Ctrl+C" means "press and hold Ctrl and then press C."

Much like the Shift key, the Ctrl and Alt keys modify the way the computer interprets other keys, but will not type anything by themselves. When a key combination includes one of these keys, it will appear first. You should press and hold the first key before pressing the last key in the combination.

FocusIn computer terms, “focus” identifies which part of the screen is currently active. Focus can be on a button, a data field, a screen tab, or a menu item. Some part of the screen is always “in focus.”

Hint: If the name of an individual key has more than one word in it, the manuals refer to it by capitalizing all the words and removing the spaces between them. The Page Down key, for instance, appears as "PageDown." The up arrow key appears as "UpArrow."

Hint: Think of this as like using Shift to type a capital letter. For example, pressing Shift+A should type a capital letter A, but if you press and hold A before pressing Shift, you might type something like "aaaaaaaA." However, if you press and hold Shift first, you will just type "A." The same holds true for issuing commands with key combinations that include Alt or Ctrl.



You can move focus to the next field or option by pressing Tab. This usually moves focus down or to the right. Move focus to the previous field or option (usually up or to the left) by pressing Shift+Tab.

If focus is on a button, a dotted line appears around the inside of the button. When a button has focus, you can activate it by pressing Enter. This has the same effect as clicking the button with the mouse.

If focus is on a menu item, it is highlighted. You can press Enter to activate the menu item.

Focus on a data field shows in one of three different ways, depending on what kind of field it is.

A text field in focus contains a flashing cursor; you can type data into it.

A drop-down list in focus is highlighted. Use the type-ahead feature or the arrow keys to make your selection. (See Type Ahead, below.)

Hint: If you are in a menu, you can also move focus by pressing the arrow keys.



A checkbox or a group of radio buttons in focus has a dotted outline. Press Spacebar to check or uncheck a checkbox field. Press DownArrow or UpArrow to change a radio button selection.

On-Screen HintsThere are three kinds of on-screen hints you can use to help you remember keyboard shortcuts: underlined letters, tool tips, and menu prompts.

The names of many commands and fields have one letter underlined. Whenever you see an underlined letter, you can activate that choice by pressing and holding Alt, and then pressing (typing) the underlined letter. If it is for a button or menu choice, you will execute that command. If it is for a field, you will activate (put focus on) that field so you can complete it.

Sometimes the underlines do not appear until you press Alt. This is true in some menus, for example.

Tool tips, sometimes called "pop ups," are short messages attached to toolbar icons. If you point to any toolbar icon, the tool tip will appear in a moment giving you the name of the icon and its keyboard shortcut, if there is one.

Hint: Checkboxes are square. A checkbox is a "yes or no" field. A checkmark in the box means "yes"; an empty box means "no." You can check or uncheck any box, regardless of your choice for any other box.

Radio buttons are round and always appear in groups of two or more. You can select only one choice within a group. If you then make a different selection, you will remove the previous choice.

Hint: When you are on a Main Menu screen or a Setup screen, you can activate a button by pressing your choice's underlined letter with or without the Alt key. This works only on Main Menu and Setup screens.



Menu commands that have keyboard shortcuts show the shortcut immediately after the command name.

MenusThe option mentioned above for using Alt with an underlined letter also works for menus, but it behaves a little differently. There are also a couple of other menu options to consider.

Menus appear near the upper left of a screen, just below the screen title. There is often a File, Edit, View, and Help menu, although this varies from screen to screen. There can be other menus, as well.

To open a menu with the keyboard, press and hold Alt and press the underlined letter of the menu you want to open. For example, Alt+E usually opens the Edit menu.

To close a menu again without executing a command, press Alt by itself.

Once a menu is open, you can press LeftArrow or RightArrow to move from one menu to another. You can press UpArrow or DownArrow to move through the commands within a menu. To execute a command, arrow to it and press Enter.

The underlined letters within a menu offer a second option for executing menu com-mands. If you have opened the menu with Alt and the underlined letter, you can then activate a particular menu command by pressing its underlined letter without the Alt key. (Do not press Alt a second time. If you press Alt a second time, it will close the menu.)

Type AheadA drop-down list is a field with a set of predefined options from which you can choose. It has a small down-arrow to the right of it. Drop-down lists offer a feature called "type-ahead." If you know your choice, simply type its first few letters. As you type, the pro-gram will show you the first option that matches what you have typed. When your choice appears, press Enter or Tab to select it.

Note: The underlines may not appear until you press Alt.



You can also press F4 to "open" the list and see the available choices.

Drop-down lists also allow you to press DownArrow or UpArrow to toggle through the choices.

All of these options (type-ahead, DownArrow, UpArrow, and F4) will work in combina-tion with each other.

Common ShortcutsThis section includes two tables with some of the more common keyboard options:

• Common Keyboard Shortcuts F.7

• Common Types of Fields F.8



Common Keyboard ShortcutsPress ToF1 Display HelpF4 Display the items in a drop-

down list or open a select screen.

Alt+underlined letter Activate a choice with an underlined letter

Tab Move to the next field or optionShift+Tab Move to the previous field or

optionCtrl+Tab Move to the next tab on a

screenCtrl+Shift+Tab Move to the previous tab on a

screenEsc Exit a screenCtrl+A Add a record Ctrl+D Delete a record Ctrl+E Edit a record Ctrl+S Save changes from edit modeCtrl+Q Cancel changes from edit

modeCtrl+P View the prior recordCtrl+N View the next recordAlt+T Activate a Select buttonAlt+C Activate a Cancel buttonPageDown Move to the next step in a wiz-

ardPageUp Move to the previous step in a

wizard



Common Types of FieldsField Keyboard Shortcut ExampleSearch For Type an entry and

press Enter

Drop-down list Use any combina-tion of type-ahead, F4, DownArrow, or UpArrow

Lookup icon F4

Checkbox Spacebar

Radio Button Arrow keys


GGLOSSARY

account classA Setup record in the Fixed Assets Inventory program that defines one depreciation method, one useful life, and a set of general ledger accounts for one asset class within one development. Your agency has one account class for each combination of asset class, development, and useful life.

accumulated depreciationAn asset's total depreciation, both posted and unposted, from its acquisition date through the end of the current month. Contrast with the definition of total posted depreciation.

accumulated depreciation accountThe general ledger asset account to which accumulated depreciation posts for assets in a given development. This is usually an account with a line item of 1405 (Accumulated Depreciation).

acquisition costAn asset’s actual purchase cost or, if an actual purchase cost is not available, its esti-mated cost. If an asset is donated to your agency, for example, the acquisition cost is your best estimate of its fair value at the time you receive it. Contrast with the defini-tion of depreciable basis.

acquisition dateThe date you purchased or received an asset.

asset accountThe general ledger account through which assets in a given development appear on your agency's balance sheet. This is usually an account with a line item of 1400 (Fixed Assets) or a sub account of 1400

Fixed Assets Inventory 2/3/2006 Edition G.1

Appendix G: Glossary

asset class1. A broad category or classification of assets, such as land, buildings, furniture, or equipment. Asset classes are subdivided into asset types.2. A Setup record in the Fixed Assets Inventory program that defines one of your agency's asset classes.

asset numberA unique number assigned by your agency to identify a fixed asset. Contrast with the definition of serial number.

asset type1. A narrow category or classification of assets, such as filing cabinet or refrigerator. Asset types are subdivisions of asset classes.2. A Setup record in the Fixed Assets Inventory program that defines one of your agency's asset types. Asset types help speed data entry when you are entering new assets in the program.

balance sheetA financial statement of total assets and total liabilities at a given point in time.

book valueAn asset's acquisition cost minus its accumulated depreciation.

capital assetSee the definition of fixed asset.

capitalization thresholdThe minimum acquisition cost for an asset to be considered a fixed asset, usually $500.

If an asset costs less than $500 individually, but you own many of them (for example, office chairs or desks), you may choose to report them collectively as one fixed asset.

depreciable basisThe amount of an asset's acquisition cost that can be depreciated over its useful life. It is equal to the asset's acquisition cost minus its salvage value. Contrast with the definition of acquisition cost.

depreciationThe amount of expense charged against revenue to write off the cost of a fixed asset over its useful live. As you depreciate an asset, its book value decreases accord-ingly.

depreciation averaging conventionAn accounting technique to simplify first-year and last-year depreciation calculations. Averaging conventions assume that assets are placed in service or disposed of on



designated dates throughout the year, instead of on the literal dates on which they are placed in service or disposed of.

The Fixed Assets Inventory program allows you to choose one of four different depre-ciation averaging conventions. For information, see Calculating Depreciation on page A.1.

depreciation end dateThe date on which depreciation ends for an asset. It is equal to the asset's deprecia-tion start date plus its years of useful life.

depreciation expense accountThe general ledger account to which depreciation expense posts for assets in a given development. This is usually an account with a line item of 4800 (Depreciation Expense).

depreciation methodA set of rules and assumptions used to calculate depreciation. The Fixed Assets Inventory program supports only the straight-line depreciation method. (However, you can also choose not to depreciate certain assets that you track in the program.)

depreciation start dateThe date on which depreciation begins for an asset. It is determined by the asset's acquisition date and your agency's depreciation averaging convention.

disposition accountThe general ledger account to which a net gain or loss posts when you dispose of an asset in a given development. This is usually an account with a line item of 3490 (Gain or Loss on Sale of Fixed Assets). It can sometimes be an account with a line item of 6110 (Gain or Loss from Disposition of Real Property) or 6120 (Gain or Loss from Disposition of Nonexpendable Equipment).

fixed assetAlso called capital asset. An asset that has a useful life of longer than one year and that meets the capitalization threshold.

GAAPgenerally accepted accounting principlesThe accounting standards accepted by the accounting profession to ensure that financial statements are consistent with regard to what, when, and how information is reported.

GASBGovernmental Accounting Standards BoardThe body responsible for setting accounting and financial reporting standards for state and local governments.

To learn more about GASB, visit their Web site: www.gasb.org.


http://www.gasb.org


location1. A specific place where an asset can be used or stored, such as a unit, office, com-munity room, or storage room.

2. A Setup record in the Fixed Assets Inventory program that defines one of your agency's locations. Each Location record must be assigned to a location group.

location groupA Setup record in the Fixed Assets Inventory program that defines a logical group of locations, such as a development, building, wing, or floor. A location group can con-tain locations and/or other location groups.

purchase costSee the definition of acquisition cost.

revenue statementA financial statement of revenue and expenditures during a given time period (such as a fiscal period, quarter, or year).

salvage valueThe estimated value of an asset at the end of its useful life.

serial numberA unique number assigned by the manufacturer to identify a fixed asset. Contrast with the definition of asset number.

straight-line depreciation methodA depreciation method that distributes an asset's depreciation equally to each year of its useful life.

total posted depreciationThe total depreciation that has posted to date for an asset. Contrast with the definition of accumulated depreciation.

total remaining depreciationThe amount of depreciation yet to post during an asset's useful life, assuming you do not dispose of it first. It is equal to the asset's acquisition cost, minus its salvage value, minus its total posted depreciation.

useful lifeThe number of years you expect a fixed asset to be productive or usable.


account classeschanges for WinTen clients, C.1maintaining, 7.6planning, 6.4

accounting resources, B.1

Add Asset Wizard, 3.3

adding assets, 3.2

asset classeschanges for WinTen clients, C.1maintaining, 7.4planning, 6.1

asset typesmaintaining, 7.10planning, 6.5

assetsadding, 3.2depreciation, 3.13depreciation, calculating, A.1depreciation, posting, 5.1disposing of, 4.4disposition methods, 7.11editing, 3.6locations, 1.2, 3.11, 7.13maintaining, 3.1notes, 3.10processing, 1.3, 4.1purchase types, 7.20transferring, 4.1

averaging conventions, depreciation, A.3

Browse Assets screen, 3.2

Browse Policies screen, 7.22

calculating depreciation, A.1

changes, program, C.1

color, changing, 7.3

Custom Report Writer program, 1.5

cyclical actions, 2.1

default settings, maintaining, 7.3

depreciation, 3.13averaging conventions, A.3calculating, A.1posting, 5.1straight-line method, A.1

Dispose of Asset Wizard, 4.4

disposing of assets, 4.4

disposition methods, maintaining, 7.11

editing assets, 3.6

Fixed Asset Settings screen, 7.3

Fixed Asset Setup screen, 7.2

fixed assetssee assets

Fixed Assets Inventory programchanges for WinTen clients, C.1color, changing, 7.3cyclical actions, 2.1default settings, 7.3feature list, 1.1glossary, G.1help, online, 1.7Main Menu, 1.6overview, 1.1policies, program, 6.7, 7.21program integration, 1.4setup, implementing, 7.1setup, planning, 6.1terminology, G.1version date, 1.6

full month convention, depreciation averaging, A.3

General Ledger program, 1.1, 1.5

glossary, G.1

Governmental Accounting Standards Board, 1.3, B.1

INDEX

Fixed Assets Inventory 2/3/2006 Edition X.1

Index

groups, location, 7.13maintaining, 7.15

half year convention, depreciation averaging, A.5

help, online, 1.7

icons, common, E.1

keyboard actions, F.1

Load Report dialog box, D.9

location groups, 7.13maintaining, 7.15

locations, 1.2, 3.11, 7.13maintaining, 7.17

Main Menu, 1.6

Maintain Account Classes screen, 7.7

Maintain Asset Classes screen, 7.5

Maintain Asset Notes screen, 3.10

Maintain Asset Types screen, 7.10

Maintain Assets screen, 3.7

Maintain Disposition Methods screen, 7.12

Maintain Locations screen, 7.14

Maintain Purchase Types screen, 7.20

maintainingaccount classes, 7.6asset classes, 7.4asset types, 7.10assets, 3.1default settings, 7.3disposition methods, 7.11location groups, 7.15locations, 7.17policies, program, 7.21purchase types, 7.20

Master Setup program, 1.4

mid-month convention, depreciation averaging, A.4

mid-quarter convention, depreciation averaging, A.5

notes, asset, 3.10

planningaccount classes, 6.4asset classes, 6.1asset types, 6.5policies, program, 6.7

policies, programmaintaining, 7.21planning, 6.7

Post Depreciation Wizard, 5.2

posting depreciation, 5.1

Preview Report screen, D.5

Print Report dialog box, D.10

processing assets, 1.3, 4.1

purchase types, maintaining, 7.20

reports, D.1loading, D.8options, D.1previewing, D.4printing, D.10saving, D.6

resources, additional, B.1

Save Report dialog box, D.7

settingssee default settings

setupimplementing, 7.1planning, 6.1

shortcuts, keyboard, F.1

straight-line depreciation, A.1

terminology, G.1

Transfer Asset Wizard, 4.2

transferring assets, 4.1

version date, 1.6

Fixed Assets Inventory 2/3/2006 Edition X.2

fixed assets inventory - tenmast.com assets inventory also tracks the location of each asset. this...

Documents