In this article
Fixed assets are entered in the Items table, together with their corresponding groups, the parameters for calculating amortisation and other information.
Creation of the assets 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 Id identifying it and a description.
- The purchase date, the purchase value, the Amortisation type and the amortisation percentage are then indicated.
Groups
To total the amounts for each article category, a totalisation group is created in the Group column.The group code must be assigned to each article in the same category in the Sum in column.
Multiple group levels can be created.
For more information on the grouping system, please refer to the Grouping System page
It may be 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, you will need to check that the 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) - DocumentDate
The date of the item purchase document, if available.
- Group
- 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.
- Purchase variation *.
- 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.
- Initial amount
- 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.
The amortisation type must be 2. - 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.
- Amortisation Type
- 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.
- Serial Number
- 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.
- Archiving date
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.