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FA-A Enter Fixed Assets

Purpose of Program

Use this program to enter each Fixed Asset that you want to track depreciation for

Field Explanations

 

Asset Number (Required)

Enter a number to uniquely define each asset.  These can be incremental numbers or you can assign different blocks of numbers for vehicles, buildings, machinery, etc.

 

Type

The type of asset such as Vehicle, computer equipment, etc.

 

Description

2 Line Asset Description

 

Cost Basis

The total cost basis to be used for Depreciation purposes

 

Residual Value

Any residual Value which will not be depreciated

 

Life

Depreciable life (years)

 

Method

The Depreciation Method to be Used

 

Accumulated Depreciation

Depreciation accumulated for this asset to date

 

Last Depreciation Amount

The amount of the last depreciation transaction, used as the default for the next transaction

 

Asset Account

The GL Asset account the item is assigned to

 

Accum Dep Account

The GL Accumulated Depreciation account the item is assigned to

 

Dep Exp Account

The GL Depreciation Expense account the item is assigned to

 

Date Placed in Service

The date the item was placed in service

 

Date Disposed of

The date the item was sold or otherwise removed from service

 

Sales Price

If the asset was sold, what was the price

 

Serial Number

If the asset has a Serial Number assigned, it can be entered here

 

Last Depreciation Percent

The percentage used for the last depreciation transaction

 

Last Depreciation Date

The date of the last depreciation transaction

 

General Program Operation

 

Enter the asset number, Type and Description as desired and the Cost Basis, life and GL Accounts.  The accumulated Depreciation and last Depreciation transaction information are maintained by the system as depreciation transactions are processed.  If you are entering partially depreciated assets into the module and need to enter the accumulated depreciation to date, use FA-E Import Assets which will allow import of that information.