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Location Description
On selecting the location, the description of the location is displayed.
Asset Currency
This is the local currency of the branch. You will not be allowed to modify this data.
Asset Cost
Enter the value of the asset in this field.
Asset Description
In this field, you can enter the description of the asset stating whether the asset is an office
building or computers etc.
Status
Here you have to mention the status of the asset your branch is holding. The available options
are:

Capitalized

Work in progress
Booking Date
The system date is defaulted as the booking date of the asset. You will not be allowed to
modify this date.
Acquisition Date
Mention the date on which the asset is acquired in the date/month/year format.
Acquired Depreciation
You can specify the acquired depreciation in case of the asset being transferred from a
previous branch. The system arrives at the accumulated depreciation based on the acquired
depreciation that you specify as well as the depreciation calculated. The acquired
depreciation is considered to track depreciation on books and not for tax purposes.
You will not be allowed to specify the acquired depreciation once you save and authorize a
contract.
Residual Value
The Residual Value is taken into account for the purpose of computing the depreciation of the
asset. However, you must ensure to enable the Asset Cost – Residual Value option in the
Asset Category screen.
Note
The total depreciation for the asset will not exceed the residual value.
Original Reference Number
This field is updated only during Fixed Asset Transfers. Transferred asset is automatically
created in the branch/location on Save of transfer. This field displays the original reference
number of the asset in the old branch/location. You cannot modify this number.
All other details of the transferred asset will remain the same as before except for a few
conditions.
Please refer the section Asset Transfer Process for more details.
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