Asset's Status

The display only status field indicates an Asset’s status:

Addition

Addition and Disposal in Same Year

Carried Over

Disposal

Asset Group

The Group Combo box item is enabled only in NEW mode. Select the group that this Fixed Asset belongs to by choosing a group from the groups available in the Combo box. These groups are defined in Group Maintenance.

Asset Code

The Code Combo box item is enabled only in NEW mode. Enter an identifying code for this Asset. The Group and Code must uniquely identify the Asset.

Location

Select the location that this Fixed Asset belongs to by choosing from the locations available in the Combo box. These locations are defined in Locations Maintenance.

Description

Enter a description for the asset.

Additional Information

Enter any additional information that you wish to store about this item.

Asset Type

Select the type that this Fixed Asset belongs to by choosing from the types available in the Combo box. These locations are defined in Types Maintenance.

Supplier Information

Enter information for the supplier of the asset for your reference. If acquired from Accounts Payable Invoicing, these fields will contain the Supplier’s name and data from the Accounts Payable and will be non-editable.

Invoice / Cheque Number

Enter the Inv/Chq/Order numbers for your reference. If acquired from the Cashbook or Accounts Payable Invoicing, these fields will contain the actual Invoice or Cheque number and will be non-editable.

Insurance Details

Enter insurance details for your own reference.

User Defined Variables

The User Defined Variable (UDV) table is populated with the UDV’s as defined in User Defined Variables. To define this asset in terms of a UDV, place a mark in the Use column by clicking it with the mouse. When a row with a Used UDV is highlighted, the UDV push-button will be enabled. Press on this button to see the Asset’s User Defined Variable screen.

Serial Number

Enter the serial number or registration number of the asset

Warranty

Place a mark in the Warranty check box if this asset is covered by a warranty. If so the Expiry Date field will become enabled, enter the Expiry date of the warranty.

Depreciation Method

Select the depreciation method for this asset. For new Acquisitions, this field will default to the value selected in Defaults (see Fixed Asset Defaults). Otherwise, select a depreciation method from the available Combo box. (See Depreciation for more information on the Depreciation Method) 

Depreciation Rate

Enter the annual deprecation rate for this asset.

Historical Purchase Date

The Historical Purchase Date field only needs to be maintained if the item was purchased outside the current period range.

Purchase Date

For new acquisitions enter the purchase date. If acquiring through the Accounts Payable or Cashbook modules, this field will already be populated and will be display only.

Depreciation Start Date

Enter the date from which depreciation starts to be calculated. This field will be enabled when doing Acquisitions or when amending the Properties of an existing Asset that has not ever been depreciated. By default its value is the same as the Purchase date.

Depreciation Last Run

The Depr Last Run is a display only field. Its value defaults to the Depreciation Start value and when amending assets will display the date that the asset has been depreciated up to.

Depreciate Every

The Depreciate Every option is used to determine the frequency of the depreciation on the item. The first combo box allows you to enter the frequency number (days or months) in accordance with the period selected in the second Combo box.

Motor Vehicle

Indicate if this asset is a motor vehicle.

General Ledger Department

Select a General Ledger department from the options available in the Combo box.

Private Use

Enter the percentage of time that you expect the asset will be used by employees for private use.

Historical Initial Cost

Enter the historical initial cost. This field only needs to be maintained if the item was purchased outside the current period range.

Initial Cost

Enter the initial cost. This field will be enabled when doing Acquisitions through the Fixed Asset Register only.