An Asset Class is what defines an asset's characteristics and groups all similar assets together. This helps the organization when locating an asset with specific characteristics. An asset item must belong to a class which defines its basic characteristics and type. A computer may be an asset class and can also be a parent class for a desktop or laptop computer class.
Assets ► Support Entities ► Asset Class
| Fields | Description |
| ID | The unique identification code, manually entered by users or automatically generated based on parameters. |
| Active | The status of the asset class it is Active or Not. |
| Is Component | Determines if this Asset Class can be referenced as a component of a parent asset. |
| Is Movable | Defines whether all Asset Items represented by this class are physically Movable or not. |
| Is Used On Asset Item That Was On Construction | By default it is false, the user can change the value. If this attribute is true then when the user selects this asset class on asset item, the system displays Manage by Institution and Manage by Vendor. |
| Depreciation | The default value is true. If this is false then the asset value can’t be depreciated. |
| Useful Life | The useful life of the asset class. This is measured in years. |
| Total Periods To Depreciate | This information contains the number of periods that this Class of Asset should have. |
| Salvage Percentage | Applied to the original cost of all the related asset items in order to calculate their salvage values. |
| Depreciation Rate Factor | This rate is used for the declining balance depreciation method. |
| Parent Asset Class | Parent Class of this Asset Class, e.g. Computers can be Parent Class for Desktops. |
| Depreciation Method | Default Depreciation Method for this asset class. |
| Useful Life Unit of Measure | A class might suggest a useful life for an asset item belonging to this class. |
| Depreciation Reference Date | Reference date when the Assets belonging to this Asset Class starts to depreciate. Available values are: Acquisition Date, Start in Use Date, Receipt Date, and Month/Year of Manufacture. |
| Language | The default value is English. |
| Name | This is the name of the asset class. |
| Description | A detailed description of the Asset Class. |
| Accumulated Depreciation Coding | This is the coding block for the accumulated depreciation. |
| Coding Block | Coding block for this asset class. |
| Revaluation surplus coding | This is an optional attribute referencing the revaluation surplus coding block used for revaluation on assets. |
| Expense Coding Block | This coding block will be used to associate all expenses (including depreciation) related to this asset class. |
| Coding Block for Confiscation, Expropriation, and Appropiation | It depends on the system setting of the parameters. If its related parameter is true and false then the system asks the value and display it. This is asset coding block. |
| Financial Coding of Transfer | Financial coding block of asset transfer. |
| Coding Block used for Manage by Institution | By default it is hidden. This coding block is used to generate financial transactions related to the Asset Transaction. |
| Coding Block used for Manage by Vendor | By default it is hidden. It is the financial coding block field. This coding block is used to generate financial transactions related to the Asset Transaction. |
| Inherit Depreciation Rate From | This is the inherit depreciation rate for the asset class. |
| Custom Period Depreciation Rates Tab | Allows users to select previously configured customized depreciation rates from another Asset Class. Users can modify the values copied from the other Asset Class. |
| Asset Item Additional Field Configs Tab | It allows the user to configure asset additional field. |
Overview
Configuration relating to additional field of Asset Item in Asset Class gets added from this tab.
Asset Class Asset Item Additional Field Configuration screen Fields
Field | Description |
Sequence # | The sequence number of additional field configuration is automatically generated by the system. |
Active | Whether the record added is kept active for usage, gets marked in the checkbox. |
| Entity Property | Property of the entity like whether it refers to length, width, height, color, exchange rate, gender, etc. is selected from the dropdown box. |
| Is Display Property | Whether this is a display property, gets marked in this field. |
| Is Mandatory Property | Whether this is a mandatory property, gets marked in this field. |
Overview
Allows users to select previously configured customized depreciation rates from another Asset Class. Users can modify the values copied from the other Asset Class.
Customized Period Depreciation Rate Tab Screen Fields
| Fields | Description |
| Consecutive Period Number | The period in which the asset is useful. |
| Depreciation Rate | The rate by how much the asset is depreciating. |
Overview
The Asset Item Group represents a group of asset items that all share similar characteristics, allowing them to be put together into one single group. The Support Entities section help users to understand the different characteristics that organizations use to base their grouping of assets and are given the opportunity to understanding the method of creating, deleting and modifying Asset Item Groups.
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Assets ► Support Entities ► Asset Item Group
Asset Item Groups Screen Fields
Field | Description |
ID | Unique identification code of the Asset Item Group. |
Language | Language used to describe the Asset Item Group. |
Abbreviation | Short form of the Asset Item Group. |
Purpose | Defines the purpose of the Asset Item Group with relation to the Asset Items. |
Asset Item Physical Condition represents the different values associated to a physical condition of an Asset Item. Asset Physical Condition can include: Mint, Good, Not Good, Obsolete, Broken, etc. For example, a 'Broken' asset physical condition describes any item that has been broken and cannot be used.
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Assets ► Support Entities ► Physical Condition
Physical Condition Screen Fields
Field | Description |
ID | Unique identification code of the Physical Condition. |
Is Default | If false, this specific Physical Condition is not the default entry. |
Language | Language used to describe the Physical Condition. |
Abbreviation | Short form of the Physical Condition. |
Description | Short description of the Physical Condition. |
Overview
Different transaction types on assets are available within the application; these transactions may have an impact on the General Ledger Journal entries, Expense vouchers or Cash Sales. This screen is designed to be flexible enough to support transactions that may or may not be linked to other financial functions within the system.
The three main types of Transactions identified are:
Transactions by Disposal
Transactions that affect Value Change
Transactions that do not affect Value Change or Disposal
This screens represents different behaviors on disposal, value change and non-value change transactions.
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Assets ► Support Entities ► Transaction Types
Asset Transaction Type Screen Fields
Field | Description |
Id | Unique Asset Transaction Type identifier, manually entered by user or automatically generated based on parameters. |
Cash Involved | Specifies whether the transaction type has revenues or expenses as a result of the disposal or exchange of the asset items. |
Requires Employee Information | Default Value false. If this attribute is equal to true then system should displays and requires on asset transaction, Responsible Employee. |
Transaction Class | Groups of Transactions that are used to enable flexibility within the application when dealing with numerous requirements. |
Retroactive Adjustment Type | Specifies whether this transaction must apply a retroactive adjustment or not |
Intervenient Type | The name of the person that is the intervenient in this transaction. |
Predefined Debit Account | A list of debit accounts to be chosen from. |
Predefined Credit Account | A list of credit accounts to be chosen from. |
Allowed Financial Operation Type | By Default - the selection "All" will be displayed. A Financial Operation Type references a financial operation related to this transaction, financial operations can be previously submitted manually by other processes an can be associated for the asset administrative purposes only. |
Debit Account Origin | A list of account where the debit amount will originate from. The field will contain 'Account from Asset', 'Custom Account', 'Predefined', and 'Unknown'. By default - 'Unknown' will be displayed. |
Credit Account Origin | A list of account where the credit amount will originate from. The field will contain 'Account from Asset', 'Custom Account', 'Predefined', and 'Unknown'. By default - 'Unknown' will be displayed. |
Language | Country specific language used to register the name of the Asset Transaction Type |
Name | Name of Asset Transaction Type. |
Asset Class Used On This Asset Transaction Tab | A collection of one or more asset class that system is going to use to filter only the asset item that has the asset class selected on this system will have icons select all or unselect when user is selecting the asset class |
Receipt Type Used On This Asset Transaction Tab | A collection of one or more Receipt Type that system is going to use to filter only the asset item that has the Receipt Type selected on this system will have icon select all or unselect when user is selecting the receipt type. |
Receipt Type filter applied in Asset Exchange Asset Tab | A collection of one or more Receipt Type that system is going to use to filter only the asset item that has the Receipt Type selected on this system only is going to displays receipt type that have Receipt Type = Active and Is used on Asset Module equal to true. System has the icon to select all or unselect when user is selecting the receipt type. |
This document explains how to create Transactions Custom Accounts. Certain asset transaction types require particular specifications according to users needs. These requirements need to be customized manually by the employee who has authority. The Asset Transaction Custom Account screen allows the ability to make these changes to a specific transaction type. This screen represents the different asset custom accounts that can be associated to one or more Asset Transaction Types according to customer needs. The custom accounts are listed by a unique identification code that can be modified and deleted.
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Assets ► Support Entities ► Transaction Custom Account
Asset Transaction Custom Account Screen Fields
Field | Description |
Id | Unique identification code, manually entered by users or automatically generated based on parameters. |
Active | If checked, Asset Transaction Custom Account is available. |
Coding Block | Used to ensure entities sharing information are processed as needed and configure in such a way to display the correct elements that are specified. |
Language | Country specific language used for description. |
Name | A brief description of the Asset Transaction Account, e.g. Cash Account, Maintenance & Repair Account, etc. |
Overview
Depreciation is a method of reducing the value of assets being used over a certain period of time. This reduction of value is commonly due to usage, passage of time, wear and tear, technological outdating, depletion or absolution of the asset. All organizations have to include deprecation calculations and costs in their financial statements and processes. The method of doing these exercises varies depending on the type of depreciation and the asset being depreciated. The Depreciation Method screen's purpose is to provide standardized and user defined methods that will be the basis for performing fixed assets depreciation and postings. All these methods are cataloged by unique identification codes that will be available for authorized users to search.
Assets ► Support Entities ► Depreciation Method
Depreciation Methods Screen Fields
Field | Description |
Id | Unique identification code, manually entered by users or automatically generated based on parameters |
Active | If selected, the depreciation method will be available for use. |
Rates Required | Used only for Customized Rated Depreciation Method. Represents a user defined depreciation rate to be applied to the Asset Class and could be inherited to a specific Asset Item. |
Predefined Method Type | A selection of depreciation methods to choose from. Available options are: Straight Line, Declining Balance, Activity Based, Sum of the Years Digits, Customized Rates. |
Language | Country specific language used for description. |
Abbreviation | Short Description for the Depreciation Method. |
Description | Description for the Depreciation Method. |
Overview
The Reason for Difference screen is a user defined catalogue of reasons that will support the Asset Item in Count or Asset Item in Count Component Status (whenever there is overage and/or shortage). It could be used for reporting and statistics.
Navigation
Assets ► Support Entities ► Reason for Difference
Reasons for Differences screen Fields
Field | Description |
ID | Unique identifiication code for the Reason for Difference. |
Difference Active | If checked, then the record for Reason for Difference is available and can be used. If unchecked, the record is for reference purpose only. |
Language | Country specific language used for description in the record. |
Short Description | Short description for the Reason for Difference. |
Description | A detailed description for the Reason for Difference. |
Overview
Asset Class and Catalogue Item are matched with each other in 'Asset Class Catalogue' screen and their records are managed through this screen.
Navigation
Assets ► Support Entities ► Asset Class Catalogue Item
Asset Class Catalogue Item screen Fields
Field | Description |
Id | Unique identification code, manually entered by users or automatically generated based on parameters |
Catalogue Item | Catalogue Item is selected from lookup button available for this field. |
Asset Class | Asset Class is selected from lookup button avaialble for this field. |
Overview
This process will allow user to execute a workflow transition for one or many Asset Items.
Navigation
Asset ► Support Entities ► Asset Item Massive Workflow Transition
Asset Item Massive Workflow Transition Screen Fields
| Fields | Description |
| Fiscal Year | Default Value: Current Fiscal Year for Budget Execution |
| Fiscal Period | Default Value: Current Fiscal Period for Budget Execution |
| From Stage | Displays the initial Stage and all the intermediates stages of the Asset Item |
| To Stage | Default Value: Approved. System will filter all the Asset Items that are subject to get this workflow status |
| Asset Item Origin | Close Domain: MANUAL (default), DATA IMPORT, GOOD RECIEVE NOTE |
| Asset Item Id From | Useful only when Asset Item ID is automatically generated by the system. |
| Asset Item Id To | Useful only when Asset Item ID is automatically generated by the system. |
| Catalogue Item | Look up functionality to search by relevant Catalogue Item |
| Asset Item Short Description | Short description of Asset Item. |
| Original Cost | Default value is zero. |
| Current Value | Default value is zero. |
| Start Date In Use | Start Date of the Asset item |
| Receipt Date | Receipt Date of the Asset item |
| Asset Item Physical Condition | Dropdown to select Asset Item physical condition. |
| Month Year Of Manufacture | Asser item Manufacture date. |
| Asset Class | Look up functionality to search by relevant criteria. |
| Region | Look up functionality to search by relevant criteria. |
| Created By | Look up functionality to search by relevant criteria. |
| Created On | Date picker to select created date. |
| Approved By | Look up functionality to search by relevant criteria. |
| Approved On | Date picker to select Approved date. |
| Institution | Look up functionality to search by relevant criteria. |
| Warehouse | Look up functionality to search by relevant criteria. |
Overview
This support entities allows the user to make a massive update of Asset Item Information.
Navigation
Assets ► Support Entities ► Massive Update Asset Item Information
Massive Update Asset Item Information Screen Fields
| Fields | Description |
| Code | Automatically generated |
| Asset Class | An asset item belongs to an Asset Class |
| Language | The country specific language of the system. By default value is English. |
| Name | Name of the Asset item. |
| Active | Default value TRUE |
| Institution | Institution that creates the templates to be used on massive update information |
| Creation Date | Date when the Massive Update of Asset Item Information was created |
| Massive Update Asset Item Information Detail Tab | System must allow user to select one or many Asset Item Additional Field at same time and create one row by each field selected. |
Overview
This entity allow users to add the Massive Update of Asset Item Information Detail.
Massive Update of Asset Item Information Detail Screen Fields
| Fields | Description |
| Serial Number | Generated by system |
| Brand | Filter by brand first and then by model of such brand. |
| Brand Model | The Brand Model related to Brand selected |
| Asset Item Description | Asset Item Description, Manually entered by user |
| Asset Item Physical Condition | Filter an specific physical condition |
Overview
This process allows users to update Asset Item information.
Navigation
| Fields | Description |
| Workflow Status | Dropdown to select workflow status. |
| Asset Class | Look up functionality to search by relevant criteria. |
| Fiscal Year | Default Value: Current Fiscal Year for Budget Execution |
| Fiscal Period | Default Value: Current Fiscal Period for Budget Execution |
| Asset Item Origin | Close Domain: MANUAL (default), DATA IMPORT, GOOD RECIEVE NOTE |
| Asset Item Id From | Useful only when Asset Item ID is automatically generated by the system. |
| Asset Item Id To | Useful only when Asset Item ID is automatically generated by the system. |
| Catalogue Item | Look up functionality to search by relevant Catalogue Item |
| Asset Item Short Description | Short description of Asset Item. |
| Original Cost | Default value is zero. |
| Current Value | Default value is zero. |
| Start Date In Use | Start Date of the Asset item |
| Receipt Date | Receipt Date of the Asset item |
| Asset Item Physical Condition | Dropdown to select Asset Item physical condition. |
| Month Year Of Manufacture | Asser item Manufacture date. |
| Region | Look up functionality to search by relevant criteria. |
| Created By | Look up functionality to search by relevant criteria. |
| Created On | Date picker to select created date. |
| Approved By | Look up functionality to search by relevant criteria. |
| Approved On | Date picker to select Approved date. |
| Institution | Look up functionality to search by relevant criteria. |
| Warehouse | Look up functionality to search by relevant criteria. |
Overview
This is a catalog to manage the frequency of payments.
Navigation
Assets ► Support Entities ► Payment Frequency
Payment Frequency Screen Fields
| Fields | Description |
| Id | Unique identification code, manually entered by users or automatically generated based on parameters. |
| Payment Frequency Type | User selects one of the drop down list of payment frequency. E.g. Daily, Monthly, Bimonthly, Biannual, Annual, Quarterly. |
| Name | Name of the frequency Payment |
| Description | Short description of the Payment Frequency. |
| Active | Active checkbox is checked by default |
| Registration Date | Date of Registration for Payment frequency |