Fixed Assets - Deltek · PDF fileFixed Assets The Fixed Assets module as an efficient way to register Assets. The module accommodates the legal requirements for documentation and financial

Fixed Assets Maconomy Workspace Client

© 2015 Deltek, Inc. Deltek proprietary, all rights reserved.

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Objectives

At the end of this module you should be able to

Create Asset Groups

Create New Asset

Add Depreciation method

Add Financial Information

Add Project information

Assign Vendor Invoices

Create Depreciation

Create Sales and Transfers

© 2015 Deltek, Inc. Deltek proprietary, all rights reserved. 3

Agenda

Setup

– Asset Setup

Home

– Asset Creation

– Asset Information

Vendor Asset Invoice registration

Fixed Asset Registrations

– Adjustments

– Assign Vendor Invoices

– Asset Depreciation

– Relocate and Transfer Assets

– Asset Sales

Project related Assets

Lookup


Fixed Assets Workflow


Fixed Asset Setup

Register Vendor Invoice

Create Asset

Create Asset Create Asset Groups & Depreciation

methods

Assign vendor Invoice

Create 6 Post Deprecation

Create 6 Post Deprecation

Adjust, Relocate, Transfer Assets

Asset Sales

Ongoing asset review

Post Depreciations to Projects

Fixed Assets

The Fixed Assets module as an efficient way to register Assets. The module accommodates the legal requirements for documentation and financial postings and is a practical way to keep the Asset Information and create ongoing Depreciations.


General Ledger Integration

The Fixed Asset module is integrated with the

General Ledger

GL Accounts are specified on each Asset

Group

Transaction

Types

Type of Asset postings: Creation, Adjustments, Depreciation, Disposal

Default Transaction Types for Disposal:

Sale, Internal Sale, Relocation, Transfer

Project

Allocation

Assets expenses can be postor to specific

projects.

Depreciation can ongoing be posted as

cost and billed to customers

Asset Setup

7

Fixed Asset Setup Process


Workspace

Fixed Asset

Setup

Create Pop-Ups

Depreciation Methods

Create Assets Groups

Update Finance Setup with FA

Journals and TR numbers

Fixed Assets Setup

9

Assets must be entered in Groups that link up the General Ledger specification

Groups information

holds the general Depreciation Information and the General Ledger Accounts for Acquisition External Sale Depreciation Tax


Fixed Assets Setup

10

Before the Fixed asset module can be used make sure all necessary information has been created:


Transaction number series Journal Setup GL Accounts

If the Asset is also a cost on Projects: Activity Task

Hands-On Activity

11

Fixed Assets Setup Activity 1


Helpful Tip

12

In Popups in the System setup you can create two different type of Depreciation methods:

Straight Line which is a calculation by days By Month which is a calculation by month.


Asset Creation

13

Company Vendor Editing Process

14

Workspace

Fixed Assets

Create

New Asset

Review & Update Information

Post asset Journal/ Assign Vendor Invoices


Fixed Assets Creation


All created assets get a unique Asset No and can be sorted by Asset Group and

by Date Acquired as these are mandatory fields during creation.

Fixed Assets Creation


Once an Asset has been created additional information can be entered:

Asset Description, Serial No and Location

Create Fixed Assets

In Depreciation Information update with the Depreciation Method:

Straight Line or By Month Depreciation Period and Starting Date


If the Asset depreciation is a Project Cost add the Project No and Task in Project Information

Transaction Type cannot be changed but other information that can be added is Financial Information, Dimensions and the asset can be selected as subject to Tax

Create Fixed Assets


The acquisition price can be entered in the cost field. When entered a Journal with the entry will be created. The journal can be viewed in Adjustments

in the Registrations section and must be posted from Posting in the GL Transactions workspace.

The amounts in Net Book value will be

updated with adjustments and Depreciations ongoing.

If the Asset is marked to be subject of Tax

the Tax Depreciation amount will be updated.

Hands-On Activity

19

Fixed Assets Creation Activity 2


Helpful Tip

20

Asset information has Remarks fields where further Technical Data and other useful information can be entered.


Vendor Invoice Registration

21

Vendor Invoice & Approval Workflow


Register vendor invoice

Review Vendor Invoice

Reject

Submit Invoice

for Approval

Allocate Vendor Invoice as

Fixed Assets

Approve Invoice

Review & Post Invoice Journal

Create Asset Draft

Create Asset

Fixed Assets Vendor Invoice

When posting a Fixed Asset vendor Invoice there are three options making it possible for the same person to handle both the vendor invoice registration and the Fixed Asset creation or the process can be split in separate processes.


• The invoice is posted without allocation EXCEPT for Fixed Asset selected in Purchase Line type. The invoice can after posting be selected and allocated in the Fixed Asset Workspace.

Invoice Posted without allocation

• The invoice is allocated but posted without a reference to an Asset No. The asset will be created and additional info can be entered in the Fixed Asset workspace.

Invoice posted with allocation with Asset No

entered

• The invoice is posted with the allocation including an existing Asset No.

Invoice posted with allocation with no Asset No

entered

Vendor Invoice Registration Process

24

Workspace

AP Transactions

Register Vendor Invoice

Allocate Invoices as

Fixed Assets –

This step can be skipped

Approve Allocation

Post Invoice


Fixed Asset Vendor Invoice


The key to registration of vendor invoices for an asset purchase is the Purchase Line Type in Invoice allocation Lines.

When fixed Asset is selected a new table Asset Draft will be available and the invoice can either be created from this table or be available for allocation to an already existing asset in the Fixed Asset workspace.

Hands-On Activity

26

Vendor Asset Invoice Registration

Activity 3


Helpful Tip

27

To Do ”Unassigened Vendor Invocies” is created when a Vendor Invoice is posted without the Asset Draft Allocation


Fixed Asset Registration

28

Helpful Tips

29

The Registration section contains five different tabs with the functionality described in the introduction to manage the assets throughout the asset life.

Registration


Adjustments

Unsigned Vendor Invoices

Disposals

Relocation

Depreciations

In Adjustments all amounts can be adjusted by selecting the applicable Asset Transaction Type

If Depreciation was created without Automatic Approval & posting ticked the journals will be open for adjustments before posting.

Fixed Assets Adjustments


Fixed Assets Adjustments


The action New Asset Adjustment will open a wizard where the Transaction Type must be entered

Asset No and the Adjustment Amount are entered in the Entries table

Adjustments can be Approved but the posting must be done from the Posting tab in the GL Transaction workspace

Unassigned Vendor Invoices


In Unassigned Vendor Invoices Vendor Invoices will be available for allocation if they are posted without allocation but with Fixed Asset entered in Purchase Line type

The Asset can be created when the allocation has been entered in Asset Draft.

Depreciations


Ongoing depreciations are created in the Depreciations tab and can be generated for one or more Assets or Asset Groups.

When selecting OK a journal with the entries will be created and if ticked they will be Automatically Approved and Automatically Posted.

Unapproved entries can be viewed, adjusted and approved in the Adjustments tab.

Fixed Assets Postings

In case an asset has been entered in an incorrect Asset Group, with a wrong Dimension or will have to be transferred or sold the Fixed Asset module has the functionality to make the necessary updates and General Ledger transactions


•Asset sale require by law several accounting transactions to specify the part sold to be reversed and a gain /loss to be registered. When the sale is approved in Asset Disposal these transactions will be created automatically

Sale

•Assets can be transferred to a new group. This require all entries to be reversed and posted to the new group and will be done automatically asset Adjustment

Transfer

•A physical change of location to another department or an Internal Sale for one or more assets will when done in Asset Relocation create the necessary transactions

Relocation / Internal Sale

All assets can be selected for Sale or Transfer in the tab Disposals. When selecting Approve Sale / Transfer wizards will be open where Amount, Dates and other information can be entered.

When the entries are approved in the wizard the necessary transactions will be created and the asset information updated

Disposals


Asset Sale Posting : Aquisition & Depreciation amounts reversed. Sale registered with Amount Sold and with a Gain or Loss

Asset Transfer Posting: Aquisition & Depreciation amounts reversed from original Asset group and registered with new Asset No on new Asset Group.

Fixed Assets Disposals


In Relocation selected asset items or groups can be relocated to another Project, Company or Dimension (Department)

Selecting OK will create a journal with the entries created for the transfer and they will be posted as an Asset Adjustment.

Relocation


In Internal Sales items can be sold internally between companies.

When selecting OK the necessary transactions will be created and the item will be removed from the selling company and added to the New Company similar to an Acquisition.

Internal Sales


Internal Sale: Aquisition & Depreciation amounts reversed from original company. Remaining amount registered with new Asset No in Company and in the companies Base Currency.

Asset Relocation: Amount for Aquisition & Depreciation are reversed from original Department and added with new Deapartment on the same Asset No.

Posting


Posting


Fixed Asset journals must be posted from the Posting section in the GL Transactions workspace.

Relocation, Internal Sales & Depreciation can be ticked for Automatic Postings

Accounts for the posting is derived from the Asset Group.

Hands-On Activity

41

Registrations Activity 4


Fixed Assets on Projects

42

In case an asset is purchased on behalf of a customer a Project No can be added to the Asset Information and the Depreciation can be posted to the project and billed to the customer.

Deprecation on Projects are specified in a separate line in the Net Book Value Island

Fixed Asset on Projects


When Project Information is filled out in Asset Information Depreciation will be posted to the project entered as a cost and can be selected for Invoicing.

The Project cannot be closed if the asset has not been fully depreciated but will appear as a Pending Action.

The Asset can be Sold, Relocated or moved to another Project.

Fixed Asset on Projects


Hands-On Activity

45

Fixed Assets on Projects Activity 5


Helpful Tip

46

When you enter a new Project No in Asset Information the Asset will belong to that project going forward and future Depreciations will be posted to the new Project.


Fixed Assets Lookup

47

Asset Lookup has two tabs:

Adjustments where you can review all adjustment journals

Asset Listing where you can print a status report with all or a selection of the assets

Fixed Assets Lookup


Hands-On Activity

49

Lookup Activity 6


Knowledge Check

50

What is the difference between Relocation and Internal sale?

How do you identify Fixed Asset items in Vendor Invoice registration?

What are the names and the difference between the Depreciation methods?

How does an Asset depreciation get posted to a project?


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Documents

Fixed Assets - Deltek · PDF fileFixed Assets The Fixed Assets module as an efficient way to register Assets. The module accommodates the legal requirements for documentation and financial