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Global 3000 Asset Register,
available from Global Distribution in Australia, can be used stand-alone or with Global 3000 Debtors Ledger, Creditors Ledger or General Ledger. The topics covered in this datasheet include: Each asset is identified by a 15 character asset code. Large numbers of small value assets can be pooled under one asset code. Pooled Assets can be added to, part disposed, part transferred. Each asset possesses the following identifiers:
Template assets can be defined to simplify the addition of common types of asset. Assets of similar types can be grouped together with a 10 character code. Default values eg. depreciation method and rates can be defined for an asset group to be allocated to new assets as they are created. General Ledger codes are associated with each asset group. Each asset is associated with a four character department or profit centre code. If General Ledger is in use, the profit centres will be those in the General Ledger. Profit Centres can be used as selection criteria for reporting purposes. The user may define the usage of some additional fields at the system level:
Assets can be attached to another asset about which data is to be held. This feature is useful when wishing to process an asset individually whilst allowing it to be located with another asset eg. car phones. Maintenance and reporting facilities in Asset Register automatically allow for updates to, or reporting on, attached assets where appropriate.
When assets are added they are allocated to a group and profit centre and depreciation rules are defined. When the posting program is next run the GL accounts for the asset cost are updated and the contra value posted to an asset purchases suspense account, to which the invoice should be costed when posting in the Creditors Ledger. An addition may be made to a new asset or an existing asset. In the case of pooled assets, quantities may be added. An individual asset maybe extended eg. adding a computer memory board. Extensions are depreciated in the same way as the asset to which they are attached. The amount received is entered and optionally the details of the customer. When the posting program is next run, the asset cost and depreciation to date are taken out of the asset control accounts and any profit or loss on disposal is posted to the general ledger. The disposal proceeds are posted to an asset sales suspense account where the sales invoice should be posted in the Debtors Ledger. Partial disposal of assets is permitted, in which case the user identifies the amount of the asset cost which is disposed. Any depreciation/revaluation is pro-rated. An asset maybe revalued at any time in its life. When the posting program is next run, depreciation to date is cancelled on revaluation. Any increase in value is posted to a revaluation reserve account in the GL and any decrease below the original cost is posted to a reduction account in the P/L. Revaluations do not affect tax depreciation calculations. A whole group or range of groups of assets can be revalued by a percentage. Transfer or Splitting of Assets Complete assets can be transferred between profit centres and assets groups. When the posting program is next run, appropriate postings are made to the GL control accounts. Assets can be split into two separate assets. This permits partial asset transfer. Any depreciation/revaluation is pro-rated. Leased assets as well as owned assets may be recorded on the system. Assets on finance lease are treated in the same way as owned assets for the purposes of depreciation etc. Assets on operating lease are simply recorded but generate no ledger postings. Non-capitalised assets can be used to record items purchased from revenue.
Details of capital expenditure budgets can be recorded identified by a fifteen character code and the accounting year. When an asset is added a budget code can be recorded against it and the value of the asset and any subsequent additions will be added to an expenditure total on the budget record. Reports can be produced showing budget against actual spend, selected by year and a range of codes. Budgets for previous years can be purged by the user. A full record of all movements on the asset register that affect the General Ledger is maintained on the asset transaction file - additions, disposals, splits, transfers and depreciation. Assets may be mothballed to suspend depreciation until such time as they are "unmothballed". Used to adjust the depreciation charged against an asset as the depreciation calculations work from the current written down value rather than the original cost. Two sets of depreciation calculations are carried out for each asset for book and tax value. Tax value depreciation is optional and does not generate any GL postings. Depreciation is calculated up to a specified end-of-period date and the information posted to General Ledger. Depreciation is automatically calculated up to the date of the transaction when transferring, mothballing or disposing of an asset. The following methods of depreciation are offered:
Various parameters determine the precise nature of the treatment of periods and days in the depreciation calculations. Each asset can be assigned a residual value for book and tax purposes. A complete set of on-screen enquiries allowing "drill-down" examination of asset details is provided. The following reports are provided:
In addition, reports of budgets, asset groups and system parameters are available. Global 3000 Asset Register data can be held in a Btrieve format or (to be announced soon) SQL format database for compatibility with industry-standard office automation and data analysis tools. |
