31 - Fixed Assets Manager

Features Overview

The Fixed Assets Manager module allows the recording of individual fixed assets into the database and integration back to the KwaMoja General Ledger.

Creating a New Fixed Asset

The sequence of events in creating a new fixed asset is as follows:

Selecting A Fixed Asset

From the Main Menu -> Assets Manager module tab -> Select an Asset. There are options to select an asset category and asset location that results in display of assets for that selected category and location only. Alternatively, the asset code or any part of the description can be entered to display an asset. An asset can be selected from the resulting list by clicking on the required Asset Code button.

When an asset is selected, the details of the asset are displayed including the cost and accumulated depreciation with all entered transactions reflected. The cost and accumulated depreciation cannot be entered or altered manually. The asset cost is always be derived from the Accounts Payable module, and depreciation is automatically calculated. All other details of the asset can be modified as required when an asset is selected. These include description, serial number, barcode, category, location, depreciation type and rate.

Fixed Asset Depreciation Run

The depreciation run must be carried out monthly to create the general ledger journals for depreciation at the rates and depreciation methods defined for the assets. In addition to the general ledger journals a log of the depreciation transactions is also created.

The depreciation run checks the last month it was run, and defaults the date to run for the following month. In this way, every time the depreciation run is carried out it is self evident whether it has been run for the month under review or not. There is no functionality to reverse a depreciation run and this date check helps prevents duplicate runs.

Change Location of a Fixed Asset

Assets can be transferred to a different location. This enables the company to keep track of the location of their assets. To do this select 'Change Asset Location' from the Transactions menu of the Asset Manager module. Then just select the new location of the asset and all reports will be updated with this new location.

Fixed Asset Disposals

To dispose of a fixed asset an invoice is raised for a fixed asset in the usual order entry screen. Instead of selecting a stock item, there is a button that allows a fixed asset to be selected. By selecting a fixed asset to be sold, the system creates a stock item for the fixed asset. When the sales order is confirmed for invoicing and if the debtors ledger is integrated into the general ledger then entries to dispose of the asset to the general ledger accounts defined in the fixed asset category of the asset are created. The fixed asset transaction is created for the disposal and the fixed asset updated to show the date it was disposed and the proceeds on the disposal.

Fixed Asset Register

The Fixed Asset Register screen requires the entry of a start date and an end date. The Fixed Asset Register output can produce a pdf report, comma separated values for importing into a spreadsheet (CSV), or html for display on screen. The Register shows, for any displayed asset, the cost brought forward at the start date, the total of any additions subsequent to the start date, the depreciation brought forward and the depreciation charged over the period, together with the carried forward cost, accumulated depreciation and net book value.

Fixed Asset Maintenance

Maintenance Task enables addition of maintenance tasks for any existing asset, with task description, person responsible, manager and days before due date.

The My Maintenance Schedule inquiry outputs a listing of all outstanding maintenance tasks in reverse due date order. From this Schedule tasks can also be marked as complete.