Entering assets

Once you've set up your company and created groups, you can begin entering assets.

 

There are two types of assets which need to be considered:

 

 

image\bm1.gif  If you already have a fixed assets register in another program, or stored on a spreadsheet, you can import your assets directly into Fixed Assets. See the Import assets command for more information.

 

 

Existing assets

 

These are assets which were purchased before the beginning of the current financial year.

 

Ideally, these should be entered only when you first set up the company. By entering them all at once you will have an established baseline for all of your group calculations; you'll be able to view figures such as opening book values at the start of the current financial year.

 

To enter existing assets, select Setup mode in the Administration options

Then select New Asset from the Asset Menu.

 Select New asset in the prompt dialogue (shown below)  and click the Add button.

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This will open the Asset Details window, which allows you to enter asset details, select groups for the asset, and enter depreciation information:

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Information you should have for these assets includes:

 

 

The help for the Add existing asset window describes these fields in more detail.

 

Once you've filled out the details for an asset, click OK to save the asset. You can then either enter another (existing) asset, enter another asset with similar details to the one you've just entered, or close the window. Select the appropriate option.

 

Once you've finished adding your company's existing assets, you should disable Setup mode. From then on, any assets you add should only be newly purchased assets.

 

image\bm1.gif  If you need to add more existing assets later on, simply select Setup mode again. Remember to disable it once you've finished.

 

Assets purchased during the current financial year, but before you began using Fixed Assets, should be added as new assets.

 

 

New assets

 

These are assets purchased during the current financial year.

 

Normally, these will be assets purchased after you've started using Fixed Assets, but they can also include assets which were simply purchased in the current financial year before you began using Fixed Assets.

 

To enter new assets, use the New asset command in the Assets menu. If Fixed Assets is in Setup mode, the prompt dialogue shown above will be displayed. If so, select New asset.

 

This will open the New asset window, which allows you to enter asset details, select groups for the asset, and enter depreciation information:

 

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The New asset command describes these fields in more detail.

 

Once you've filled out the details for an asset, click OK to save the asset. You can then either enter another (new) asset, enter another asset with similar details to the one you've just entered, or close the window. Select the appropriate option.

 

 

Viewing assets

 

It's a good idea to review assets after you've entered them to confirm that their details are correct.

 

The List assets window allows you to view all assets stored in Fixed Assets. Click the List assets command on the Assets menu.

 

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The List tab of this window shows your complete assets list, which can be searched by typing into the Search key field, or grouped by either major group, branch or department by clicking on the Groupings fields. To view an asset's details, select it on the list and click on the Details tab.

 

image\bm1.gif   Double-clicking on the asset's row in the list will switch the view to the Details list automatically. Once you've selected a tab, you can still search through the list.

 

The Transactions Tab has two sub-tabs: Additions and Disposals tabs  will be empty of any transactions for new assets, but any transactions entered later can be reviewed on these tabs. The Depreciation and Projections tabs show all depreciation calculations for each asset.

 

The List assets command describes this window in more detail.

 

 

What next?

 

Once all your assets have been entered, you can move on to everyday tasks with Fixed Assets. You can modify assets, record additions and disposals, generate reports, and manage periods.

 

These tasks are described in the tutorial sections:

 

Asset transactions

How to enter transactions to record changes in an asset's value, or disposals of assets.

 

Administration tasks

How to perform administration tasks in Fixed Assets.

 

Managing a general ledger

How to use the totals reported by Fixed Assets in an external general ledger program.

 

The Reports menu also provides access to all of the reports provided by Fixed Assets. See the Reports menu for more information.