Items table

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Amortisable assets are entered in the Items table, with their relative groups, the parameters for calculating depreciation and other information.depreciable assets, Items table

Creation of the items list

When you buy an asset, you must register the purchase in your accounting file and, at the same time, insert a new row in the Items table with information about the new asset.

  • Each item must have an identifier and a description.
  • The purchase date, the purchase value, the Amortisation type code and the amortisation percentage are then indicated.

Groups

You can also create group rows and specify a code for the group. The items are then assigned to the group via the In Group column.
Multiple group levels can be created.

It may prove useful to create groups to correspond to the accounting accounts. If in accounting there is an "Equipment" account, it is useful to have the Equipment group in the items table. For easier checking, the accounting account number can be indicated as the group number. At the end of the year, it will be checked that the book value of the Equipment Group is equal to the balance of the Equipment account.

Groups are equally useful for not having to specify parameters for each individual element. If the parameters (account, counterpart, type and percentage of depreciation, etc.) are not specified at the item level for the calculation of depreciation, the parameters of the sub-group or group are used.

Preset columns

This table contains the following columns; The ones marked with an asterisk (*) are protected and calculated by the program.
You can find more information about adding new columns in the Colums setup page.

  • Identifiers, descriptions and groupings
    • Group
      If a value is present it means that the row is a group.
      Items and groups values are added up in this row.
    • Id
      The Item Id.
    • Description
      The item description.
    • In Group
      The group the row belongs to. This must be a value present in the Group column.
    • Account
      The account to which the item is being attributed in the accounting.
      This account can also be a group.
    • Counterpart
      The account on which to post the depreciation.
      The counterpart can also be indicated at group level.
    • DateBegin
      The item purchase date (or at which the item was entered in the accounting file)
    • Document Date
      The date of the item purchase document, if available.
  • Value/Amounts
    • Initial amount
      Purchase value.
      Once entered it should not be changed. Any changes should be made via transactions for the change in purchase or historical value.
    • Values calculated by the program
      • Purchase variation *.
        The positive or negative value of the total purchase indicated in the transactions.
      • Purchase Value *
        The initial value plus the purchase variation.
      • Historical Variation*
        The positive or negative value of the historical variation (revaluations or write-downs) indicated in the transactions.
      • Historical Value*
        The purchase value plus historical variation.
      • Accounting variation*
        The positive or negative value of the accounting variation (depreciation or amortisation reversals) indicated in the transactions.
      • Accounting value*
        And the historical value plus the accounting changes.
      • Fiscal Variation *
        The positive or negative value of the fiscal value adjustments indicated in the transactions.
      • Fiscal Value *
        The carrying amount plus fiscal adjustments.
    • Residual value
      Any residual minimum value to be indicated.
      If the residual value is equal to or greater than the book value, no more amortisation rows are generated.
    • Estimate value
      An estimated value of the item.
    • ValueMarket
      Eventual market value.
  • Amortisation parameters
    • Amortisation Type
      The amortisation type applied to this item
      The amortisation type can also be indicated for the group.
    • Amortisation Percentage
      The amortisation percentage.
      The amortisation percentage can also be indicated for the group.
    • Amortisation amount
      A possible amortisation amount if the amortisation is not specified as a percentage.
    • Amortisation Percentage 2
      The additional amortisation percentage to be applied to this item.
      The "Create amortisation rows" command creates an extra amortisation row, the calculation method is the same.
      The extra amortisation percentage can also be indicated for a group.
    • Amortisation Months First Year
      The number of months the item needs to be amortised in the first year.
  • Additional information
    • Serial Number
      The item's serial number
    • Warranty Date
      The warranty expiration date.
    • Insurance Value
      The value this item or group is insured for.
    • Insurance name
      The insurance company's name.
    • Insurance number
      The insurance policy number.
    • Insurance expiration
      The insurance policy's expiry date.
    • Insurance cancellation
      The date by which legal notice needs to be given to the insurance company if automatic renewal is not desired.
  • Archiving information
    • Archiving date
      A date indicates that the item should be archived.
    • Archiving Notes
      They are used when the object is to be archived.

Adding new columns

If you need more information, you can add additional  columns with the Columns setup command.

Amortisation in the year of purchase of the asset

There are an infinite number of methods for establishing how the amortisation value for the first year is to be calculated.
The program offers these possibilities:

  • It normally calculates amortisation for the whole year.
  • In the Amortisation month first year (Month 1.Year) column , you can indicate for how many months the amortisation is to be calculated.
    • If in the first year you desire to calculate only 50% of the normal amortisation, you should indicate 6 months.
  • Amortisation percentage 2 Column
    Used for an extra amortisation. An extra amortisation row is being created.
  • For other situations, let the program create the amortisation row and then adjust the automatically created amortisation transaction.
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assets::items

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