Download 01. Fixed Assets Application User Manual

Client/Server Fixed Assets Application User Manual
Amounts
All amounts on the table are ANNUAL amounts. If
the schedule frequency is PERIOD, and 12 periods
are in a fiscal year, the system calculates one twelfth
of the percentage on the table as the monthly
transaction.
Number of
Years
A 12-column table typically has an additional year
because a table may need an additional year to reach
100% depending on when the asset was placed into
service. For example, assets placed into service in the
first two months of the fiscal year may be fully
expended in 15 years, while those placed into service
in months 4 through 12 require 16 years to be fully
expended.
Table Basis
Each table must have a basis. For example, in the standard package, the basis of the table for
ACC DEPR on a standard 10-year property ACRS table is COST. Therefore, for the annual
amount of ACC DEPR, the system multiplies the current COST by the table's percentage to
produce the amount by which to increase ACC DEPR.
Filing Tables
Regardless of the type of the table, the total percentage for all years must equal 100% before
you can file the table.
Value Dictionary
Use this dictionary to enter or edit information for Fixed Assets values.
Asset values can be one of the following types
•
standard
•
non-standard
Standard and non-standard values fall into the following categories
•
derived
•
non-derived
You also use this dictionary to determine whether a schedule is required. If it is required,
you must also determine at which frequency (GL period or Year End).
For example, the standard value for accumulated depreciation (ACC DEPR) is usually set up
with a required schedule. If accumulated depreciation should be calculated at the end of each
GL period, the frequency should be defined as such.
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