Chapter 19 – Fixed Assets Fixed Assets Processing
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Fixed Assets Processing
In this section, we look at the processing you perform on assets. You can perform many types of transactions on individual assets. The available functions are:
Function What it Does
You can revalue an asset, upwards or downwards.
Revaluing a Single Asset
You can change the value of an asset if it falls below its book value.
Asset Impairment
Transferring a Single Asset
You can transfer an asset to another asset type, cost centre, or location.
Sell/Scrap Assets
Partially Dispose of Assets
Divide Assets
Enter Units of Usage
Override Assets
You can sell or scrap an asset in its entirety.
If you have multiple units in an asset, you can sell or scrap some of these units.
You can split an asset into two. You can do this based on the number of units, or based on a percentage.
For assets that depreciate according to their usage, you need to enter usage values.
You can specify the remaining life of an asset, in periods, irrespective of its current depreciation method.
Block Assets
If you are not using an asset and its value does not depreciate while it is not in use, you can suspend depreciation.
Other processing functions affect the asset register on a group basis or as a whole:
Menu What it Does
Close Periods
You can close periods to speed up processing.
GL Batch
You can create transaction batches that calculate and show values to post to the general ledger.
Group Revaluations
Group Transfers
This lets you revalue purchase and insurance values on a group basis. The revaluation uses percentage adjustments you enter in the asset type record.
This lets you transfer all assets on that group basis between asset types, cost centres, and/or locations.
Reminder The processing options we look at here, such as transferring or revaluing an asset, change an asset's value from a specified point in time onwards. The calculation changes from the period you specify in the transaction. If you wish to make changes to the asset from the start of the asset's life, you do this by editing the values on the asset master file.
