Exact Globe+

Creating and maintaining assets

Introduction

The following steps have to be taken to activate an asset: you give the asset a ‘serial number’ and a ‘description’. You link the asset to an ‘asset group’ and you will find that the depreciation method and the General Ledger accounts are filled with the master data settings of the asset group. This information was added when the asset group was originally created. After this, you select a ‘resource’ and an ‘item code’ and you will be able to save the asset. When the asset has been created and saved, an investment entry (purchase- or general journal entry) can be linked. After a processed financial entry is linked, depreciations can be made on the asset.

Menu path

Assets ➔ Assets ➔ Maintain

Fields

Header

Serial number

Type the serial number for the asset. The serial number is a unique code for each asset and contains a maximum of 20 characters. This is mandatory.

Description

Type a description for the asset.

Status

Select a status for the asset.

• Active - Select this if the asset is still active. By default, this is selected. This status indicates that the asset is can be used for depreciation. The condition for this status is an investment entry has been created and the budgeted values have been created.
• Blocked - Select this to block the asset. Once the asset is blocked, you will not be able to use the asset such as depreciation.
• Inactive - Select this if the asset is inactive. This status is selected if there is no investment entry linked to the asset and the registration of the asset is not completed. The End date has to be defined.  
• Depreciated - Select this if the asset is fully depreciated.  
• Written off - Select this if the asset has been written off because the sales order generated for the asset has not been fulfilled and deleted. This option is available only if you have selected the Write off check box in the Sell screen (go to Assets ➔ Assets ➔ Maintain and click Sell).

Parent

If this asset becomes the child of an existing asset (parent) the parent in question can be linked here. You will be asked to copy the attributes of the parent asset, so that not all master data has to be entered again.

If you wish to copy the attributes you select ‘Yes’. If you wish to maintain the attributes of the child, you select ‘No’.

Via the ‘open’ icon in the field it is possible to open the maintenance of the parent. With the parent-child relationship you can think of a building and the maintenance of this building or a rental car and accessories purchased at a later stage. You may want to see these assets together on the overviews, but register them separately.

Tab General

Section Asset

Investment

In this field the total investment of the asset is shown. There are two possibilities, namely:

• In case the administration already contains an investment entry for this asset, this field can be left empty. After saving the asset, you are able to link the asset to the entry on the tab ‘Transactions, which will fill the field ‘Investment’ automatically.
• In the case there is no investment entry yet, you can enter the investment in this field. When saving the asset, you will be asked if you wish to create the investment entry.  

At the moment the investment entry is linked, a green check will be shown in front of this field. Until that time, a red cross will be shown.

Date

In this field you enter the date of the investment. This is the transaction date of the investment entry.

Property type

There are different types of property for an asset. Here, you can select the appropriate type. This type can later be used for retrieving of specific overviews of the assets.

The following types of property are available:

• Purchased
• Leased
• Rented
• Maintenance
• Leasehold
• Hire purchase
• Produced
• Other  

Section General Ledger accounts

Group

This field is mandatory. Here you link you asset to an asset group. This asset groups contains the GL accounts that are used for the registration and depreciation of the asset.

Asset/Depreciation (P&L)/Depreciation (Balance)

These GL accounts come directly from the master data of the asset group and cannot be edited.

Depreciation method

The depreciation method is also taken from the master data of the asset group. This can be changed.

Periods/Basis

This date comes directly from the master data settings of the depreciation method. The number of periods of depreciation is dependent on the number of periods defined in the period date table.

Start date

In this field the start date of the depreciation has to be entered. When creating a new asset, the system will automatically fill the system date. You are able to change this date in order to start the depreciation at an earlier or later date.

End date

The end date is filled automatically based on the start date and the number of periods defined in the depreciation method. In case you enter an end date manually, the program will divide the investment amount over the periods between the start- and end date.

Calculate

If a start date is present, the depreciations of the asset can be calculated. Here you will be asked to save the changes made. In case you wish to calculate you choose ‘Yes’. The depreciation amounts will then be calculated based on the selected depreciation method. On the tab ‘Transactions’ you will find the budgeted depreciations. These depreciations can be seen as unprocessed depreciation entries. It is also possible to change these by calculating them again. To make the budgeted depreciations final, you can process the depreciations.

Residual value

In case there is planned or defined residual value, it can be entered here. This value is used by the system to calculate the amount that is to be depreciated. How the system deals with the residual value is dependent on the depreciation method.

Section attachments

Picture

In case you wish to enter a picture of the asset, it can be selected here. The system opens a Windows dialogue box, allowing you to select a picture. You will see the image appear in the box.

Attachment

It is also possible to link a text file to the asset. This can, for example, be a contract, or the invoice of the purchase.

Section Notes

Notes

It is possible to enter a note for the asset. This note will also be added to the depreciations generated on this asset.

Section Advanced

This section can be seen by selecting the button ‘Advanced’ in the bottom of the screen. It is also possible to hide this again by clicking on the button ‘Simple’.

Cost unit

The same holds as for the cost center.

Item code

Here you can select an item code of a serial item that you use in your logistic administration to link assets. When linking the financial transaction at a later stage, this will limit your choice in transaction with this item code. This decreases the possibility of errors.

Quantity

Here you enter an amount, as an asset can consist of multiple quantities. For example 2 machines that were purchase together.

Section Current: In use

Change

With this button you can change the data. It will open the following screen.

Resource

Here you see the resource that will be using the asset. The customer will link the user creating the asset by default. This can be changed manually.

Cost center

Here the cost center on which the depreciation entries will be registered can be entered.

Tab Transactions

On this tab the transactions for the asset are shown. In the top of the screen you will see total amounts, like the total investment, total depreciated amount en book value of the asset.

Via the button to the right if this section, transactions can be linked to this asset.

You will enter a search- and selection screen in which the transaction can be searched for. Once this has been found, the line can be selected after which the button ‘Select’ can be pressed.

Section Depreciation

In this section you will see the calculated budgeted amounts and the actual depreciations per financial year and per period. The amounts are calculated based on the depreciation method as linked on the tab ‘General’. As a default, the system will show the primary depreciation method. It is also possible to show the secondary depreciation period.

The secondary depreciation method can be defined on the tab ‘Extra’. As an example, the primary depreciation method can be the economic depreciation, while the secondary depreciation method can be the fiscal depreciation.

The program will register the depreciations based on the primary depreciation method. The secondary method is merely used for reporting purposes.

Here, it is also possible to change a certain transaction. This is done in precisely the same way as the change of a financial transaction in e-account.

Be aware that changing the transactions, if done incorrectly, can deregulate the depreciations of an asset. 

Tab Children

The tab children shows all assets for which this asset has been defined as parent.

On the right side of the screen are three buttons with which new children can be added to the asset. If there are already children linked to this asset, these can be selected and edited directly. It is also possible to remove a child.

If there are already existing children in the administration, these will have to be added by setting the parent in the maintenance of the child.

Be aware: By removing a child from this list, it will be deleted in its entirety from the administration. If you wish to un-do the child-parent relationship you have to remove the parent in the maintenance of the child asset. 

Tab Planning

Via this tab it is possible to plan the use of the asset. In this case you can think of the use of a machine, reserving a pool car, etc.

To be able to plan, some conditions have to be met. First of all, an item has to be in the administration that, in the example of the pool car, may be called ‘Car use’. To start the planning, you have to select the button ‘Generate’ . The screen below will appear.

Here, you will have the opportunity to enter to enter the ‘Car use’ item and the planned time. In the From/To selection a time frame can be entered for the use of the asset. After this, the button ‘Generate’ can be pressed, and the planned hours will be shown in the planning overview.

Output

In the section output you select the item. This item is, depending on your license, of type ‘Standard’ or ‘Machine hour’. As a standard item, you can think of for example an item ‘user hour’. With this you could plan the use of a machine for one hour.

If you make use of the modules E-Project and E-Production you can select an item of type ‘Machine hour. With this, you could plan a machine for a certain time frame. Doing this in combination with the depreciation method ‘Usage/performance based’ you can keep track of how the asset is used and how this related to the depreciation.

Quantity

This is the amount of hours or parts of the day as in the example of output above.

From – To

This is the date range in which you wish to plan the hours. The program divides the hours over the days entered.

Include

Here you can choose to also plan on the Saturdays and Sundays that fall within the date range selected.

It is also possible to select a day in the calendar and then add a planning using the ‘New’ button. 

Tab Extra

Machinery

By checking this field you indicate that the asset is machinery. This term is used by assets that are tangible, for example a car or a building. Non machinery assets are, for example, goodwill. This field will always remain accessible and can thus also be changed as desired. The check can be used to filter in various overviews.

Section Depreciation method

Secondary

Here you can enter a secondary depreciation method for the asset. This secondary depreciation method can, for example be used for a split between fiscal and economic depreciation. This depreciation method will not cause financial transactions and is merely used for overviews.

Start date

In this field the start date of the secondary depreciation method is entered. On the ‘Transactions’ tab, the section ‘Depreciation’ shows the secondary depreciation method.

Contract number

In this field a contract number can be entered if needed.

Section Texts

Assets: user field 1-4

Here four different text fields can be entered.

Section Amounts

Assets: user number 1-5

Here you can use 5 extra fields to enter amounts.

Section Values

Assets: user integer 1-5

Here there is the possibility to enter five more values. In these fields only numbers can be entered. The difference with the amounts fields is that amounts can have two decimals, while values cannot.

Section Dates

Assets: user date 1

Here there are two date fields that can be defined as desired. Here you can, for example, enter dates for maintenance.

Section Options

Assets: user field 6 and 7

Here there are two extra free fields for options. Here, both number and letters can be entered with a maximum of one character.

The values entered in the free fields sections can be shown on overviews, but will not be recognized by the system as calculation fields. The values entered here are to be interpreted by yourself. You can create the labels for these fields via menu path System ➔ General ➔ Free fields option Assets. 

Tab Log

This tab contains the log of changes made to the asset are kept per user. All changes can be shown by leaving the resource field empty. Filling this field shows only the changes made by the selected resource.

The buttons can be found at the bottom of the screen.

Advanced/Simple

With this button, the advanced section of the tab ‘General’ will be shown. After pressing the button, it will be renamed to ‘Simple’. Pressing the ‘Simple’ button will hide the advanced section again.

Card

The card button creates direct access to the card of the asset.

Split

With this button, the asset can be split. This will allow you to create two separate assets from a single one.

Low value asset

When registering an asset, that represents a low value, you can depreciate this in one step. If selecting this button, you can (after saving the asset) depreciate it via menu path Assets ➔ Entries ➔ Process. The following entry will be made for the full investment:

Depreciation costs (Profit & Loss)

To Depreciations (Balance)

The linked GL accounts stem from the tab ‘General’, section ‘General Ledger accounts’.

Revaluation

With this button the asset can be revalued. A new screen will be opened, that is similar to the screen when going to menu path Assets ➔ Entries ➔ Revaluation.The only difference between the two that when coming from the asset maintenance, the serial number will be automatically filled in the revaluation screen.

Depreciations

With this button, the calculated depreciations can be processed. You will enter a screen in which a selection can be made of which journal, financial year and period of depreciation will be used for the depreciation.

Match

With this function, budgeted lines can be matched with depreciation lines. This can be necessary when the depreciation of a budgeted line is planned in a closed period.

Activate

This button can be used to activate a new and saved asset.

Save

If all required fields on the maintenance screen have been filled, the asset can be saved using this button. If the budget lines have not been calculated yet, the system will ask if you wish to do so at this stage.

New

This button allows you to enter a new asset.

Close

This button will close the asset maintenance screen.