Groups are a way to distinguish between Assets for either reporting or General Ledger reporting purposes. If you just want to have all assets grouped together, create one group and assign all assets to that group. You can have any number of groups.
Select the Asset Groups Option from the maintenance menu options.
Once you have made this choice you will be presented with the Asset Group Maintenance Dialogue Box, which will allow you to define, amend the properties or delete your Asset Groups.
The Asset Group Maintenance screen is reached by pressing the New, Properties or Delete options as described. This allows you to maintain the General Ledger accounts associated with the purchase, sale depreciation and controlling accounts for the Asset group. For more information on GL accounts please refer to the General Ledger manual.
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Field |
Description |
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Code Field |
The Code field is enabled in New mode only. Enter a unique code of up to 3 characters to identify the Group. |
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Name |
Enter the name of the Asset Group. |
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Fixed Asset Control Account |
The Fixed Asset Control Account Combo Box Items will be enabled if a General Ledger is installed. Select the control account, this account has a journal posted to it when you create or dispose of an Asset. Click on the down arrow to show a list of all available General Ledger accounts and select the account required. |
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Clearing Accounts |
Select Clearing Accounts, when Acquiring or Disposing of an Asset through the Fixed Asset Register (not through integrated modules) these accounts have Debit and Credit journals raised to them. Click on the down arrow to show a list of all available General ledger accounts and select the account required. |
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Depreciation Account |
Select the Account for the Depreciation expense journal to be raised to. Depreciation can be split into Private and Non-private depreciation, you may select different accounts for each. Click on the down arrow to show a list of all available General Ledger accounts and select the account required. |
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Provision For Depreciation Account |
Select the Provision for Depreciation Account, this account has a journal raised to it when Assets are Depreciated and is cleared when the asset is disposed. Click on the down arrow to show a list of all available General Ledger accounts and select the account required. |
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Profit or Loss |
When disposing of an Asset, a profit or loss may be incurred. If so that figure will be journalised to the appropriate account as specified in the Profit and Loss General Ledger Accounts specified in this Combo Box. Click on the down arrow to show a list of all available General Ledger accounts and select the account required. |
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New, Properties & Delete Push Buttons |
To create a new Group, press New. To amend the Properties or Delete an existing item select the row in the table, the Properties and Delete button will become enabled. Press these buttons to amend the Properties or Delete. These three buttons create the Asset Groups Details Screen. |
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Preview And Print Push Buttons |
To see a listing report of existing Asset Groups press Preview to view the report to the screen or Print to print the listing on a printer. |
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Types |
Types are another way to distinguish between Assets for reporting purposes. You can have any number of Types to categorise Assets or you may prefer not to use this option. |