How do I set up a fixed asset register?
From Catalyst
Summary
This article explains how to record fixed assets and the depreciation postings to be made by the system.
More Information
Go to " Nominal Ledger Maintenance Options Regular Postings".
- Click [Add].
- Create the posting [Details] as per this article.
Asset
- Select the [Asset] tab.
- Set "Asset" to 'Yes'.
- Enter the "Start Date" on which the depreciation begins. This is for reference only. Please note the [Details] tab controls the date the postings will start.
- Enter the "Start value" for the asset, i.e. its original nett value.
- Enter the "Current value" for the asset. As postings are made, this value will be automatically reduced.
- Set the "Type" to 'Amount' or 'Percentage' depending on the method you wish to use to depreciate the asset.
- Specify whether you wish to use the 'Current' or 'Start' value on which to base the depreciation.
Amounts
Go to the [Amounts] tab.
- Enter your your Fixed Asset Nominal "Centre", e.g. '60171 - Motor Vehicles - Current Depn'.
 | The asterix underneath the "Asset" column denotes this line of the journal relates to the asset. The <F3> function key can be used to set a different line as the asset line if required. |
- Enter the "Amount" or "Percentage", depending on your asset settings, as a negative value.
- Enter a suitable "Comment".
- Click [Add].
- Enter the Profit & Loss Centre to which to post the depreciation value, e.g. 'Z998- Depreciation'.
- Enter the "Amount" or "Percentage", depending on your asset settings, as a positive value.
- Enter a suitable "Comment".
- Click [Done] and [Accept] the record.
 | Each morning, as a hidden part of the first user log in of the day, the system checks for regular postings and posts the relevant records |
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See more
- How do I set up repetitive journals?
- Why can't I Set up a Regular Journal to Profit & Loss Centres?
- What does nominal review show me?
- How do I Search for a Nominal Centre?
