Upload
dale-weaver
View
236
Download
0
Embed Size (px)
Citation preview
Fixed AssetsIan Richardson CGACale Tanguay CGA
Fixed AssetsAre you tracking your fixed assets in a spreadsheet?Do you wish you could go into a room and know which assets are there?Is your depreciation / amortization journal entry a tedious monthly, quarterly, or annual process?Come to Fixed Assets to find out how you too can track fixed assets in Great Plains.In this session we will show the link between purchase order and fixed assets, accounts payable and fixed assets, and how to maintain asset records.
Agenda
QuestionsSetup
Depreciation and
reporting PostingNew Asset
Setup
- Depreciation Books- Fixed asset calendars- Auto generate asset ID numbers- Asset defaults from asset classes
Book Setup
.- You can have as many asset books as you want to set up.
- If your depreciation method is different for accounting and taxation you can keep track of both books.
- After depreciation has been run the current fiscal year in the book setup is locked down.
Calendars
Use the Fixed Assets Calendar Setup window to create multiple calendars in Fixed Asset Management. When you create a calendar, you can base the calendar on the Fiscal Period Setup window, the calendar year, or an existing calendar year. You also can create quarters for all of the years.
Calendars
Mark the Short / Long Year check box if your year is shorter or longer than a twelve month period.Indicate what percentage of depreciation should be taken for this shorter or longer year.
Auto GenerateNext Asset ID
You can set default values that will automatically increment when a new asset is entered
Defaults
Quickly assign defaults from asset classes
Fixed AssetClearing
The fixed asset clearing account will identify new assets within fixed assets that come from the accounts payable module.
New Assets- Purchase Order link to fixed assets- Accounts Payable link to fixed assets
Purchase Order- Mark the capital item check box on the
purchasing item detail entry window to allow fixed assets to automatically add the new asset to fixed assets when you receive the purchase order
Receipt add detail- As you receive your capital item you can
complete the fixed asset class and other asset information
Add new asset- In the asset general information you can now
pick up the received asset
Accounts Payable- If you are not using purchase orders use the
fixed asset clearing account in accounts payable to identify an accounts payable invoice as a fixed asset.
Add New Assets- After posting the accounts payable invoice the
asset is now available in fixed assets.
DemoMy beautiful new
computer
Fixed AssetDepreciation and
Reporting- Depreciation Report- Depreciation Forecast- Where are my assets – smartlist- Continuity
Depreciation- Depreciate one or more asset books- Depreciate asset groups or all assets- Reverse depreciation against asset groups or all
assets- Set the depreciation target date
- This date cannot be later than the last day of the current fiscal year in the book set up window
DepreciationReports
- Depreciation reports can print as of specific periods of time
DepreciationForecast
Depreciation Projection- First run the depreciation projection
Forecast Report
Depreciation Projection- Then the projection report
Demo
Where AreMy Assets
- Make use of physical location ID’s to know exactly where your fixed assets are
Where AreMy Assets
- Make use of GP reporting tools such as smart list
Demo
Continuity Report
Activity Reports can be used to produce a continuity report
Demo
Posting- Posting to the general ledger
Post in Batches- Review and edit transactions in a batch before
posting.- Includes options for filtering.- You can print an edit listing prior to posting.
Posting Options- Option to allow posting in detail to the
General Ledger
Demo
Conclusion
QuestionsSetup- Depreciation Books- Fixed asset calendars- Auto generate asset ID
numbers- Asset defaults from asset
classes
Depreciation and
reporting- Depreciation Report- Depreciation Forecast- Where are my assets –
smartlist- Continuity
PostingPosting to the general ledgerNew Asset
- Purchase Order link to fixed assets
- Accounts Payable link to fixed assets
Questions?Slides will be available athttp://www.prophet.ca/user-group-2014-presentations/ Password: UserGroup2014