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Configure Asset Acquisition to Disposal

Assets are everything of value that is owned by the company, for example equipment, vehicles, buildings and stock. In Openbravo ERP, you can record the value of assets and their amortization.

You can amortize an asset by:

Amortization by percentage means that a specified percentage of the total value of the asset is recorded each amortization period (monthly or yearly). For example 1% of the total value per year until the amortization is complete. Amortization by time means that the full amortization figure is split according to the amortization period, for example 10,000 euro recorded as 1000 euro a year for ten years.

Asset groups

Asset groups enable you to group assets together in categories. For example you could create groups for buildings, company vehicles or IT equipment.

To create an asset group:

  1. Log into Openbravo ERP with an admin role.
  2. From the Application menu, select Financial Management > Assets > Asset Category.
  3. Click New.
  4. In the Name field, type the name of the asset group.
  5. In the Help/Comment field, type a brief comment about the asset category if required.
  6. Click Save.

Setting up Assets

To set up individual assets and record their value and amortization.

  1. Log into Openbravo ERP with an admin role.
  2. From the Application menu, select Financial Management > Assets > Asset Category.
  3. Click New.
  4. From the Organization list, select the organization that the asset belongs to. If the asset spans all organizations, select *.
  5. The Document Number field is populated automatically by the next available number, but you can edit it if a particular format is required.
  6. In the Search Key field, type a short expression to be used as a quick search term.
  7. In the Name field, type the name of the asset.
  8. In the Description field, type a brief description of the asset, if required.
  9. To make the asset visible and available for selection, select the Active checkbox. Clear the checkbox to deactivate the asset.
  10. If the asset is also a product (for example stock), select it from the Product list.
  11. If the asset belongs to an asset group, select the group from the Asset Category list.
  12. In the Quantity field, type the number of the asset that the company owns.
  13. If the asset is a product and has an attribute associated with it (for example size or color) click the Attribute Set Value selector and choose a value from the Attribute box.
  14. If the asset is amortized, select the Depreciate checkbox. The following options then become available:
    • Depreciation Type: Only linear amortization is available.
    • Calculate Type:
    • For depreciation by time, select whether the amortization takes place monthly or yearly and specify the Usable life of the product in months or years as appropriate.
    • Purchase Date: Type the date when the asset was purchase, or select it using the calendar tool.
    • Annual Depreciation %: If the asset is amortized by percentage, specify the percentage of the total purchase amount recorded each year.
  15. In the Purchase Date field, type or select the date on which the asset was purchased.
  16. From the Currency menu, select the
  17. In the Depreciation Start Date field type or select the date on which the amortization period begins.
  18. In the Asset value field, type the total current value of the asset.
  19. In the Depreciated value field type the value of the asset once the amortization process is complete.
  20. In the Depreciation Amount field, type the amount of the asset purchase value that you want to amortize. By default, the full purchase amount appears in the field, but to amortize less than the full value, edit the amount.
  21. Click Save.

Asset Accounting

Accounting is automatically inherited from the defaults configured within the [Defaults] tab of the General Ledger Configuration window (using the Company Admin role). However, you can and should change it within the [Accounting] tab. See [#Accounting_0440468244762261 Accounting] section for more details.

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