Projects:AssetsmanagementUserDoc

Contents 1 Advanced Asset Management Configuration Guide and User Documentation 2 Introduction 3 Module/s Installation and Datasets 4 Configuration Guide 4.1 Advanced Asset Management Setup 4.1.1 Asset parameters at Client level 4.1.2 Default Asset related Ledger Accounts 4.1.3 Advanced Sequence 4.1.4 Depreciation Plan 4.1.5 Subsidy 4.1.6 Inventory Number Print Template 4.2 Advanced Asset Management 4.2.1 Asset Class 4.2.2 Asset Card 4.2.2.1 Asset Tab 4.2.2.1.1 Subsidy sub-tab 4.2.2.1.1.1 Subsidy Amortization Plan sub-tab 4.2.2.1.2 Depreciation sub-tab 4.2.2.1.3 Accounting sub-tab 4.2.2.1.4 Controlling & Controlling Depreciation sub-tabs 4.2.2.1.5 Booking sub-tab 4.2.2.1.6 Parent View 4.2.2.2 Inventory tab 4.3 Asset To Do List Updater 4.3.1 Asset To Do List 4.4 Depreciation 4.5 Special Documents 5 User Documentation 5.1 Purchased Assets 5.1.1 Asset Card creation before Purchase Invoice booking 5.1.2 Asset Card creation after Purchase Invoice booking 5.1.3 Purchase Invoice including freight or other type of costs 5.1.4 Purchase Invoice including a damage asset 5.2 Self-made Assets 5.3 Donated Assets 5.4 Subsidies 5.5 Depreciation Plan calculation 5.6 Depreciation Plan booking 5.7 Low value Pool Assets 5.8 Change Depreciation Range 5.9 Asset Disposal 5.10 Special Documents 5.11 Storno booking 5.12 Rebooking 5.13 Asset Reporting

Advanced Asset Management Configuration Guide and User Documentation

Introduction

This document describes the “Advanced Asset Management” functionality implemented in Openbravo 2.50 version MP21.

This functionality can be used by any company managing assets.

An asset is a long-term item held for business use, not expected to be converted to cash in the current or upcoming fiscal years; therefore Companies are allowed to depreciate an asset within its economic lifetime
which means that Companies are allowed to partially allocate the asset cost throughout its economic lifetime as a way of reflecting its progressive lost in value as the time goes by.

Companies own assets of several types such as tangible assets (vehicles, computers..), intangible assets (property and rights), low value assets (assets which may be depreciated at their full amount in the year of purchasing)
or low value pool assets (assets which may be depreciated at their full amount in the year of purchasing by using a pool)

Advanced asset management functionality main goal is to allow Companies to acquire, manage and dispose assets.

This document will allow end-user to understand and use “Advanced Asset Management” functionality.

Module/s Installation and Datasets

“Advanced Asset Management” functionality is released as four extension modules:

1. Advanced Asset Management. This module contains the main “Asset Management” artifacts, from Asset Card creation to Asset Depreciation Plan execution and Asset Depreciation posting.
2. Advanced Asset Management TODO List. This module allows the end-user to have a list of the assets purchased or sold for which the corresponding actions are required to be done as part of the asset management tasks.
3. Advanced Asset Special Documents. This module allows the end-user to be able to manually enter in the system other transactions for an Asset than the automatically ones created by the system such as purchase, disposal and depreciation. Those special documents are Appreciation, Manual Depreciation, Special Depreciation and Storno Depreciation, which at the end are additional “Asset related transactions”.
4. Reports for Advanced Assets Management, which helps the end-user to get a list of every “financial” (invoices) and/or “asset specific” (appreciation, manual depreciation, special depreciation or storno depreciation) movements of an asset

Advanced Asset Management" functionality relies on a core enhacement which is “Financial Invoices”. This feature allows the end-user to enter in the system either purchase or sales invoices by using GL items linked to the corresponding ledger accounts which could be “asset accounts” instead of Products or Services.

Finally "Advanced Asset Management" feature depends on two modules:

• Generic Tree Report. This module allows the end-user to be able to define a hierarchical structure of assets. An Asset configured as a “Summary” type can have other assets as children assets. Depending on whether that relationship between the summary asset and its children is strong or not, the behavior of the system will be different.
• “Booking Control” as the way to keep tracking between financial accounting such as purchase invoice containing an asset and asset management by using a booking number. For more information see section: “Booking sub-tab”.
• Storno Invoices, which is an invoice with a posting logic opposite to an invoice but negative amounts.

Once the 3 Advanced Asset Management extension modules are installed below listed “reference data” must be applied to the Client, in case of creating a new Client from the application path: General Setup // Client// Initial Client Setup

• Document types and sequences for Manual, Special and Storno Depreciation and Appreciation
• Set of reference data required for configuring the Advanced Asset Module, like some document...

And once Advanced Asset Management modules are installed below listed “reference data” could also be applied at Organization level in case of creating a new Organization at the application path: “General Setup // Enterprise // Initial Organization setup”

• Advanced Assets Special Documents
• Advanced Assets Management

It should also be possible to apply same reference data to an existing Client & Organizations at (*) Organization level and at the application path: “General Setup // Enterprise // Enterprise module management”

• Advanced Assets Special Documents
• Advanced Assets Management

Configuration Guide

Once “Advanced Asset Management” is installed a new folder named “Advanced Assets” is shown at the application path:

Financial Management // Advanced Assets

together with other changes in the User Interfaces which are also described in the next sections.

“Advanced Asset” new folder contains below listed new windows as shown in the image below:

Advanced Asset Management Setup

Asset parameters at Client level

“Assets” related parameters listed below can be found at the application path:
General Setup // Client // Client – Information tab

• Asset value limit - this field is a numeric free text field which allows the end-user to enter the value up to which an item will become an asset to be capitalized and therefore depreciated.
  • An asset value limit equal to 1.000 means that all the items with a value > = 1.000 will have to be managed as an assets and therefore depreciated, therefore those ones will require an Asset Card containing at least Asset information in the Asset sub-tab of the Asset Card to be created.
• Inventory limit - this field is a numeric free text field which allows allows the end-user to enter the value up to which an item will be part of the inventory, regardless it is an asset or not although it is likely that all the assets to be capitalized and therefore depreciated will be part of the inventory.
  • An Inventory limit equal to 410 means that all the items with a value > = 410 will have to be part of the inventory, therefore those ones will require an Asset Card containing just Inventory information in the Inventory sub-tab of the Asset Card to be created.
  • An Inventory limit equal to 1.000 means that all the items with a value > = 1.00 will have to be managed as assets and therefore depreciated and will have to be part of the inventory, therefore those ones will require an Asset Card containing Inventory information in the Inventory sub-tab of the Asset Card and Asset information in the Asset sub-tab to be created.
• “Automatic Inventory Number” - Assets set up to be part of the inventory will require a unique inventory number. System will automatically generate an inventory number in case this new parameter is flag as “yes”, otherwise the end-user will have to manually entered in the system the inventory number of an asset.
• “Inventory Sequence“ - End-user will be able to select here an “Inventory Advanced Sequence” previously setup at the application path: Financial Management // Advanced Assets // Advanced Sequence, in case Automatic Inventory Number is flag as “Yes”.
• “Asset Sequence“ - End-user will be able to select here an “Asset Advanced Sequence” previously setup at the application path: Financial Management // Advanced Assets // Advanced Sequence.

Default Asset related Ledger Accounts

There is one new “default” account which can be found at the application path:
“Financial Management // Accounting // Setup // General Ledger Configuration – Defaults tab - “Advanced Asset Management” section
where end-user will be able to enter a by default ledger account for the Subsidy amortization booking.

In case an asset, by example a vehicle, gets a subsidy from a subsidy entity, that subsidy must be amortized at the same time and under the same depreciation rules than the asset it's linked to.

Advanced Sequence

Advanced sequence to be used as Asset and Inventory Numbers/Identifiers can be set up at the application path:
Financial Management // Advanced Assets // Advanced Sequence.

It is important to highlight that Asset Reference data will create an advanced sequence for asset management and an advance sequence for inventory management by default, which end user can modify later on. .

An Advanced sequence means that the end-user is the one to decide which are the variables taken into account when the application generates an asset or an inventory number. That number can contain:

• A static content such as a text, by example “Asset-” or “Inventory-” or a separator such as “-”
• A sequence either “Asset Advanced Sequence” or “Inventory Advanced Squence”
• A dynamic content to be selected from a list: Fiscal Year, Org. Unit or Asset Class.

Above setup would generate an Asset Number such as:

“Asset-520-2010-A-Computers” where:

• “520” is the correlative sequence
• “2010” is the Fiscal year when the asset is being entered in the system (system date)
• “A” is the Organization Unit
• and “Computers” is the asset class of the Asset which is being created in the system, see section below: “Asset Card”

A separate setup is required to configure the Inventory Number.

Depreciation Plan

The Depreciation Plan window can be found at the application path:
Financial Management // Advanced Assets // Depreciation Plan.

It is important to highlight that Asset Reference data will create a Depreciation Plan by default, which implies below Depreciation Rules:

• Depreciation Method = “Linear”
  • set up as “Full month depreciation” in order to get that the depreciation amount to be allocated to each period/month is the same regardless the start depreciation date is in the beginning/mid/end of a month. See example below.
• Depreciation Type = “Time”.
• Depreciation Range = “Monthly”

above depreciation rules mean that the depreciation amount to be allocated to each month of the economic life time of an asset will be the same.

It is possible to implement new extension modules for new Depreciation Plan or rules such as:

Depreciation Method = “Linear”.
Depreciation Type = “Percentage”.
Depreciation Range = “Monthly”
or
Depreciation Method = “Linear”.
Depreciation Type = “Time”.
Depreciation Range = “Yearly”

Subsidy

Subsidy window can be found at the application path:
Financial Management // Advanced Assets // Subsidy.

This new window allow the end-user to enter Subsidy information such as:

• Subsidy Id : which could be the booking number of the Subsidy or any other applicable Subsidy Id.
• Set it up as “Active”
• Subsidy Entity: Subsidy Entities should be previously created in the system as a Business Partners
• Subsidy date : booking date of the subsidy
• Subsidy amount: subsidy amount
• Subsidy amount remaining: system will automatically populate the subsidy amount remaining or in other words the subsidy amount do not allocated to any asset already.

Inventory Number Print Template

Inventory Number Print Template window can be found at the application path:
Financial Management // Advanced Assets // Inventory Number Print Template.

This new window will allow the end-user to define an “Inventory Number Template”.

The inventory Number can be printed: the end-user can define the inventory number print template to be used by the system in this new window.

End-user can setup the template by selecting the “Inventory fields” which can be found at the Asset Card - Inventory Tab. These values might need to be part of that template, as shown in the screen below

Advanced Asset Management

Asset Class

The asset Class window can be found at the application path:
Financial Management // Advanced Assets // Asset Class

the asset Class window allows the end user to create as many Asset Classes as needed.

An Asset Class is a group of Assets with the same depreciation rules, normally establish by the corresponding financial authorities, and depreciation accounting.

Currently implemented "depreciation rules" are:

Depreciation Method = “Linear”.
Depreciation Type = “Time”.
Depreciation Range = “Monthly”

which means that the depreciation amount to be allocated to each month of the economic life time of an asset will be the same.

Depreciation Accounting information can be entered in the “Accounting” sub-tab. End-user will have to enter below ledger accounts:

• Depreciation Account – expense account used to book the asset expense consumption within a given period
• Adjustments Account – asset account which will summarized the lost in value of an asset

Asset Card

Asset Card window can be found at the application path:
Financial Management // Advanced Assets // Asset Card.

Asset Card window allows the end user to create assets by entering an "Asset Name”, its “Description” as well as an “Asset Class”.

the “Asset No” and “Inventory No” fields will remain empty until the end-user fills in and saves the corresponding asset information in the “Asset sub-tab” of the asset card and/or the corresponding inventory information in the “Inventory sub-tab” of the asset card, respectively.

Once that information is saved, the system will “automatically” provide an Asset Number and an Inventory Number.

Asset Tab

Once an "Asset Card" has been created, the end-user can navigate to the “Asset” sub-tab and fill out at least the Asset mandatory information such as:

• Name: Computer ABC
• Depreciation Type: Time
• Depreciation Interval: Monthly
• Depreciation Method: Linear
• Economic Lifetime: 5
• Purchase date: 25-10-2010
• Depreciation Start Date: 25-10-2010
• Asset Value : 12.400,00
• Depreciation Basis : system will “automatically” populate the asset value
• Currency: EUR
• Commissioning date: system will “automatically” populate the depreciation start date.
  • Comissioning date is the date to be used as “start depreciation date” in case of “Controlling Depreciation”. See section “Controlling sub-tab”.
• Scrap value: end-user is allowed to enter a residual value equal to either 0 or 1
  • In case of an "Asset Discharged" scenario, the scrap value will be automatically changed to the original asset capitalized value less all the asset adjustments or depreciations.

End-user will be able to run the process “Create Depreciation” from this window having into account that:

• Subsidy/ies if any, should be allocated first to the Asset by setting the flag “Has Subsidy” as “yes” because once the Depreciation Plan has been run for an asset, a “parallel” process of Subsidy Amortization will also be run for the correspoding subsidy at the same time.

Once the Asset information is saved, the system generates the corresponding “Asset Number” and that asset number will now be shown in the Asset Card of the asset.

Subsidy sub-tab

Once the end-user has selected the field “Has Subsidy”, a subsidy can be allocated to an asset in the Subsidy sub-tab.

In this window the end-user can enter below information:

• select the Subsidy Id already created in the subsidy window at the application path: Financial Management // Advanced Assets // Subsidy, to be allocated to the asset.
  • System will the automatically populate below values:
    • Subsidy Entity
    • and Subsidy date.
• Enter either the Subsidy % or the Subsidy amount to be allocated to the asset, in our example 4.000,00, from the subsidy total amount.
• and finally enter a “Revenue of Liquidation of Subsidies” account to be used for Subsidy Amortization posting which should look like shown below:

Subsidy Account (DEBIT) – default account, see section: “Default Asset related Ledger Accounts
Revenue of liquidation of Subsidies (CREDIT)

Subsidy Amortization Plan sub-tab

The subsidy amortization plan sub-tab shows the subsidy amortization plan lines generated by the system when the end-user runs the depreciation plan for an asset in the Asset tab.

In our case the Depreciation basis amount (4.000,00) will be allocated to 5 months at the same amount each month, as shown in the screen below:

Depreciation sub-tab

The depreciation sub-tab shows the asset depreciation plan lines generated by the system when the end-user runs the depreciation plan for that asset in the Asset tab.

In our case the Depreciation basis amount (12.400,00) will be allocated to 5 months at the same amount each month, as shown in the screen below:

Accounting sub-tab

Accounting sub-tabs shows the ledger accounts coming from the Asset Class setup for an asset in the Asset Card to be used while posting asset depreciation:

• Depreciation Account
• Adjustments Account (or Accumulated Depreciation account)

Depreciation posting looks as shown below:

Depreciation Account (DEBIT)
Adjustment Account (CREDIT)

Controlling & Controlling Depreciation sub-tabs

Controlling sub-tab allows the end-user to setup separate asset controlling information to be also capitalized and therefore depreciated.

Once a new record is created in this window, the system automatically populates below information inherited from the asset sub-tab of the asset, which can be changed by the end-user:

• purchase date = 25/10/2010
• commissioning date = 25/09/2010 - this is the date to be used by Controlling depreciation which is the asset depreciation start date .
• economic lifetime = 5
• currency = eur
• asset cost = 12.400,00 we could change to 10.400,00 by example.
• depreciation method = Linear
• depreciation type = Time
• depreciation interval = Monthly

As mentioned above, end-user can create a separate “Controlling Depreciation” in this window by running the process: “Create Depreciation” which can be also found in the controlling window

Booking sub-tab

Booking sub-tab will show every single “financial” booking of an asset resulting from an invoice booking or special document such as appreciation, special depreciation, manual depreciation or storno depreciation booking for an asset, as shown in the screen below:

Parent View

It is possible to define a hierarchical relationship between assets by example: a computer and a hard disk or a computer and a printer.

the parent View sub-tab allows the end user to view and print a relationship between assets as shown in the screen below:

Relationship between assets can be either strong or casual.

• A strong relationship will imply a [main asset ↔ sub-asset] relationship, where sub-asset can not be moved to a different main asset, besides sub-asset gets main asset number + a suffix.
  • That would be the example of a computer A and a hard disk.
• A casual relationship will imply an [main asset ↔ asset] relationship, where the asset can be moved to a different main asset without any problem.
  • That would be the example of a computer B and a printer as the printer could be linked to a different computer depending on the needs.

Strong Relationship definition

End-user needs to setup first the “main” asset and later on the “sub-asset”.

For setting up the “main” asset (Computer A), end-user will have to flag as “yes” the field “ Summary Level” which can be found in the Asset sub-tab of the Asset card, as shown below:

For setting up the “sub-asset” (Hard disk A), end-user will have to select the option “Strong relationship” in the field “Parent view” and then select “Computer A” as main asset in the field “Main Asset”.

Once the sub-asset, hard disk is saved it will get an asset number containing the main asset number + a suffix, as shown in the screen below:

Casual Relationship definition

End-user needs to setup first the “main” asset and later on the “asset”.

For setting up the “main” asset (Computer B) end-user will have to flag as “yes” the field “Is Summary” as described before but this time for computer B.

For setting up the “asset” (Printer), end-user will have to select the option “Casual relationship” in the field “Parent view” and then select Computer B as main asset in the field “Main Asset”.

Once the related asset (Printer) is saved it will get an asset number.

It is possible to setup a “summary” or main asset related to several “sub-assets” and “asset” at the same time.

Inventory tab

As described in section “Asset parameters at Client level” an item can become an asset depending on “Asset Limit” and can also become part of the inventory depending on “Inventory Limit”.

Normally, asset limit > inventory limit which means that all the items which become assets will be part of the inventory.

In case an item/asset is part of the inventory, end-user must fill-in the Inventory Tab of the Asset Card for that Asset.

Inventory Tab contains a huge amount of inventory related information end-user is able to fill-in, having into account that there are only a few mandatory fields which are:

• Inventory No: which can be manually filled in by the end-user or automatically given by the system depending on Asset parameters at Client level setup.
• Inventory Date : which is the date when the item/asset becomes part of * and Inventory Name

Once, end user saves the information, system will provide an Inventory number as shown in the screen below, in case Inventory Number is setup as "Automatic" at Client level:

It is important also to note a field named “Inventory Status”. In general:

• In case of creating an Asset Card and the fill-in the Inventory tab manually, the value of that field is “Pre-Inventory” which could be later on changed to “Valid”
• In case of creating an Asset Card-Asset tab by using the To Do List process, the value of that field is “Valid”; once an inventory number is selected in a purchase invoice.
• In case of asset disposal, the value of that field would be “Discharged”.

For more information, see section: “End-user scenarios”

Asset To Do List Updater

Asset To Do List Updater can be found at the application path:
Financial Management // Advanced Assets // Asset To Do List Updater

Every financial booking on an asset (asset account) caused by a purchase or a sales invoice of that asset is listed in the “Asset To Do List”, Asset Management team will use to properly manage the asset.
See section “End-user scenarios”.

Therefore, this process allows the end-user to collect for a given “Organization” every financial booking on an asset account caused by either a purchase transaction (AP invoice) or sales transaction (AR invoice) as shown in the screen below.

Asset To Do List Updater generates the Asset To Do List for both Purchase and Sales transactions.

Asset To Do List

Asset To Do List can be found at the application path:
Financial Management // Advanced Assets // Asset To Do List.

There are 2 “Asset To Do List” one for Purchase and one for Sales, for which the information is likely the same.

Asset To Do List information automatically retrieved by the system as not editable is:

• Client – for which the purchase/sales invoice was registered to
• Organization – for which the purchase/sale invoice was registered to
• Invoice number
• Invoice line
• Line No
• Invoice date
• Business Partner
• G/L item - selected by the end-user in the corresponding purchase/sales financial invoice
• is freight cost - selected by the end-user in the corresponding purchase/sales financial invoice
• Invoiced quantity
• Purpose - manually entered by the end-user in the corresponding purchase/sales financial invoice
• Asset Card - which could be filled in with an asset card or empty, see "End-user scenarios"
• Asset Card Available (yes/no) field - which should be "yes" in case above field got an asset card or "no" in case it does not get an asset card.
• Asset Card Verified (yes/no) field - which should be "no" by default. It will turn into "yes", once the end-user runs the "Verification" process, after an Asset Card has been selected in the above field "Asset Card". In case no "Asset Card" is selected in the Asset Card field, system will only allow us to set that Asset To Do List to "Damage".

as shown in the screen below:

For more information regarding how to operate with the To Do List processes, see section: “End-user scenarios”

Depreciation

Depreciation Plan lines of an Asset and Subsidy Amortization lines of a Subsidy, can be found in the Depreciation window at the application path:
Financial Management // Advanced Assets // Depreciation.

End-user can process and post each “Depreciation Plan Line” for a given period (by example: 01-10-2010 to 31-10-2010) which could contain both asset depreciation and subsidy amortization as shown in the screen above, and even more assets for which there is a deprecition plan line within that period range.

Special Documents

Special Documents new window can be found at the application path:
Financial Management // Advanced Assets // Special Documents // Asset Movements

Special documents are “asset related movements” such as:

• Manual Depreciation: a manual depreciation is a depreciation “manually” created by the end-user. A manual depreciation and a depreciation have the same “financial” booking.
• Special Depreciation: a special depreciation is a depreciation “manually” created by the end-user which requires to be remark as “special”. A special depreciation and a depreciation have the same “financial” booking.
• Appreciation: an appreciation means an increase of an asset value for whatever kind of reason, which means that an appreciation has an opposite “financial” booking than a depreciation, manual depreciation and special depreciation.
• Storno Depreciation: any depreciation, special depreciation or manual depreciation can be storno by using a storno depreciation because a storno depreciation has an opposite “financial” booking than a depreciation, manual depreciation and special depreciation but does not mean an appreciation.

This new window allows the end-user to create, process and post the asset related movements described above, as shown in the screen below.

For more information see section “End-user scenarios”

User Documentation

An asset is a long-term item such as a building, a vehicle, a computer held for business use, not expected to be converted to cash in the current upcoming fiscal years.

Assets can be purchased, self-made or donated.

Purchased Assets

As described above an asset can be purchased from third parties, a supplier or a vendor.

Purchased Assets from 3rd parties are commonly estimated by their acquisition cost in accessing, having into account that:

• Purchased Items with an acquisition cost < Asset Limit and < Inventory Limit must be booked in an expense account and besides:
  • those items will not require an Asset Card to be created
  • those items will not require a Depreciation Plan to be run because they will not be depreciated.
  • and finally will not be part of the inventory.
• Purchased Items with an acquisition cost < Asset Limit and > Inventory Limit must be booked in an expense account and besides:
  • those items will require an Asset Card to be created by just filling-in Inventory Tab information as those ones must be part of the inventory, but will not become Assets.
  • those items will not require a Depreciation Plan to be run because they will not be depreciated.
• Purchased Assets with an acquisition cost > Asset Limit and > Inventory Limit must be booked in an asset account and besides:
  • those assets will require an Asset Card to be created by filling-in both tabs, Inventory and Asset tabs, as those items will be part of the inventory and will become assets.
  • those assets will require a Depreciation Plan to be run because they must be depreciated.

A purchased asset will always require a purchase invoice to be booked in the system which should be linked to the asset.

Asset Card creation before Purchase Invoice booking

An Asset Card can be manually created at any time by the end-user by navigating to the application path:
Financial Management // Advanced Assets // Asset Card.

Let's say that people receiving the items or goods are only allowed to receive the goods/items and create the asset card for that particular item/s by filling-in the Inventory tab. Inventory status will be “Pre-inventory” for this scenario.

Once the Asset Card and the Inventory Tab are saved the system will provide people receiving the items with an “Inventory No” which could be written-down in the purchase invoice in order to avoid that the asset management people which is allowed to fill-in the asset information in the asset card later on, can duplicate the asset card. In this example the Inventory No is “Inventory-583-TaxOrg”.

A.- Purchase Invoice booking steps:

• As described above a purchased asset must be booked in an asset account. For getting that done the end-user must follow below described steps:
  • Create a GL item in the application path: Financial Management // Accounting // Setup // GL item, for the asset account by setting it up as “Enable in Financial Invoices”, linking it to the corresponding “Tax Category” and by setting up the asset account, setup as “Asset Account” type, in the “accounting” tab, as shown in the screens below.
    
    
  • Use that GL item in the financial purchase invoices at the application path: Procurement Management // Transactions // Purchase Invoice. Purchase Invoice Lines must be flag as “Financial Invoice Line”, so end-user can select the GL item in the “Account” field, as shown in the screen below.
    
  • Link the purchase invoice line with an Asset Card, in the “Inventory Number” sub-tab, as shown below.
    

B.- Asset To Do List process:

Once the purchase invoice is completed and post, end-user can run the process “Asset To To List Updater” for the corresponding Organization, in our example “TaxOrg” and Document Type Name, in our example “AP invoice-Purchase Invoice”.

Asset To Do List Updater will create a new line in the Asset To Do List window at the application path: Financial Management // Advanced Assets // Asset To Do List // Purchase, for the purchase invoice just posted, in our example: 10000033, as shown in the screen below:

Above window lets the end-user know that there is an asset card already created for an asset with inventory information filled-in which requires to be verified, which means that asset related information must be filled-in “manually” in the Asset Tab of the Asset Card for that particular asset.

Once “asset “related information is filled-in in the asset tab, the end-user can be back and run for the purchase asset to do list line the process: “Set us Verified”.

That process will mark that line as “Asset Card Verified” which means that the line will not be taken by the purchase to do list anymore and will also change the inventory status to “Valid”.

C.- Purchase Invoices containing more than 1 item:

It is important to note that in case of receiving several items/goods, people receiving those items/goods will have to create as many asset cards as needed and then write down all the Inventory Numbers in the corresponding invoices to allow financial people booking the purchase invoice to link a purchase invoice line with the corresponding asset cards. In other words, it could be that a purchase line for 10 items is linked to 10 asset cards, in that case the “Asset To Do List” will therefore create 10 lines, one for each asset card, for the same purchase invoice.

Asset Card creation after Purchase Invoice booking

Let's say that people receiving the items or goods are not allowed to create asset cards for that particular item/s.
In that case the corresponding purchase invoice/s will be booked in the system by the financial people with no relation at all to any asset card but just containing the correspoding “asset accounts” in the “financial” purchase invoice lines.

The Asset To Do List will capture those financial purchase lines linked the asset accounts, therefore asset team will know the asset for which an asset card needs to be created.

In case the asset is part of the inventory, the inventory number once created can be printed if needed in case additional inventory information needs to be filled in the asset card, inventory tab.

A.- Purchase Invoice booking steps:

• Once more and as described above a purchased asset must be booked in an asset account. For getting that done the end-user must follow below described steps:
  • Create a GL item
  • Use that GL item in the financial purchase invoices lines

B.- Asset To Do List process:

Once the purchase invoice is completed and post, end-user can run the process “Asset To To List Updater” for the corresponding Organization and Document Type.

Asset To Do List Updater will create this time 3 new lines in the Asset To Do List window at the application path: Financial Management // Advanced Assets // Asset To Do List // Purchase, for the purchase invoice just posted, in our example: 10000034, as shown in the screen below:

Above window lets the end-user know that there are 3 assets for which there is no an asset card.

Once the “asset“ and “inventory” related information if applicable is filled-in in the asset tab and inventory tab of the just created asset card, the end-user can be back and:

• Link the asset card just created to the corresponding purchase asset to do list line in the field "Asset Card", as shown in the screen below:
  
  • “Asset Card Available” flag will then be mark as yes and
  • “Set as Damage” button will turn into “Set as Verified”.
• Run the process: “Set as Verified”.

That process will mark that line as “Asset Card Verified” which means that the line will not be taken by the purchase to do list anymore and will also change the inventory status to “Valid”.

Purchase Invoice including freight or other type of costs

It could be that a purchase invoice includes both an asset and whatever kind of cost which implies at the end a higher asset cost which therefore should be capitalized and therefore depreciated.

A.- Purchase Invoice booking steps:

If that is the case, those kind of cost must be marked as such in the purchase invoice line, as shown in the screen below; and the account to be used must be the same account as the “asset account” in order to get that the cost are also booked in the asset account.

B.- Asset To Do List process:

Once the purchase invoice is completed and post, end-user can run the process “Asset To To List Updater” for the corresponding Organization, in our example “TaxOrg” and Document Type Name, in our example “AP invoice-Purchase Invoice”.

Asset To Do List Updater will create 2 new lines in the Asset To Do List window one for the asset and the other one for the cost, at the application path: Financial Management // Advanced Assets // Asset To Do List // Purchase, for the purchase invoice just posted, in our example: 10000035, as shown in the screen below:

As shown in the screen below, there is no need to link an asset card to a “cost” purchase to do list line.

The end-user will have to “manually” allocated a cost affecting several assets or just one asset while creating the corresponding asset cards. Once that is done “cost” purchase to do list line can be set as verified.

It could also be possible that the cost affecting an asset is booked in a different purchase invoice coming from another supplier, end-user should book those cost in the corresponding asset account in order to allow that those cost are captured by the purchase asset m. to do list in order to be manually allocated later on to the corresponding assets.

Purchase Invoice including a damage asset

Financial people must book in the system purchase invoices which could containing a damage asset which will be returned to the supplier or vendor later on anyway.

A.- Purchase Invoice booking steps:

In order to avoid that an asset card is wrongly created for a damaged asset, financial people will have to “manually” write down in the invoice that an asset or several assets contained in a supplier delivery/invoice to be booked in the system are damage, as shown in the screen below:

B.- Asset To Do List process:

Once the purchase invoice is completed and post, end-user can run the process “Asset To To List Updater” for the corresponding Organization, and Document Type Name, in our example “AP invoice-Purchase Invoice”.

Asset To Do List Updater will create 5 new lines in the Asset To Do List window at the application path: Financial Management // Advanced Assets // Asset To Do List // Purchase, for the purchase invoice just posted.

End-user will have to choose one purchase to do list line and set it as damage by running the process “Set us Damage”. That process will remove that line, therefore there will only be the need of creating 4 asset cards for the assets do not damage.

Self-made Assets

Self-made assets are commonly estimated by their development cost.

In that case there will not be any invoice to book in the system and the end-user will have to create the corresponding Asset Card manually for them. This type of asset must be handle same way as any other Asset, in relation to the Asset Card creation and they must be depreciated as those ones mean a cost.

Donated Assets

There could also be assets donated. Donated assets come for free.

In that case there will not be any invoice to book in the system and the end-user will have to create the corresponding Asset Card for them manually. This type of asset must be handle same way as any other Asset, in relation to the Asset Card creation.
Donated assets could be or could not be depreciated.
If a donated asset needs to be depreciated, end-user will have to manually run the "Depreciation Plan" for that asset from its Asset Card.

Subsidies

Subsidies are assignments and grants for investment.
A subsidy entity could provide a company with a subsidy to purchase research facilities, or to invest in I+D+i, or to purchase vehicles or other kind of assets.

These are revenues which are intended for financing of the investments which do not affect the depreciation of the corresponding assets.
Subsidies are required to be cleared within the asset economic lifetime; therefore every time that a subsidy is allocated to an asset,
subsidy amortization plan and asset depreciation plan will be run and post in parallel.

Subsidies work flow:

• Subsidies entities must be created as “supplier” business partners in the system, at the application path: Master Data Management // Business Partner
• Revenue of the subsidies must be entered in the system as a “Receipt Payment” by using a GL item previously created which does not have to be setup as “enable in financial invoices”, that action would mean below posting:
  • 100.000,00 € Bank (DEBIT)
    
  • 100.000,00 € Revenue of Third Party Fund (CREDIT)
• Once the “money” is in the bank, the asset/s can be purchased, as described in previous section, by using the corresponding GL items for the asset accounts in the financial purchase invoices, that action would mean below posting:
  • 50.000,00 € Asset Account (DEBIT)
    
  • 50.000,00 € Vendor liabilities (CREDIT)
• After that the Asset invoice lines will be captured by the Asset M. To do List to allow the asset card/s creation.
• Financial people need to book the subsidy by using a GL journal and by selecting the corresponding account combinations, that action would mean below posting:
  • 100.000,00 € Revenue of Third Party Fund (DEBIT)
    
  • 100.000,00 € Subsidy account (CREDIT)
• Once the GL journal is booked, the system will provide end-user with a “Booking Control Number” which could be used as Subsidy ID while creating the subsidy at the application path: Financial Management // Advances Assets // Subsidy
• Finally, a subsidy created in the “Subsidy” window can then be allocated to an asset/s in the Asset Card of that particular asset/s, subsidy sub-tab.

Depreciation Plan calculation

Asset Depreciation must be execute from the Asset Card, Asset Tab, by running the process button “Create Depreciation”, that process will:

• create the “depreciation plan lines” for the Asset in the "Depreciation" sub-tab
• create the “amortization plan lines” for the Subsidy if any, in the “Subsidy Amortization Plan” sub-tab.

Depreciation Plan example:

Depreciation type=Time
Depreciation Interval= Monthly
Depreciation Method=Linear
Economic Life time = 5
Depreciation Stat date= 25-10-2010
Depreciation basis = 12.400

Depreciation Plan lines calculated by the system will be as shown in the screen below:

In case of rounding differences those will be allocated to the 1st period/month and in case of a scrap value different to 0, that amount will be deducted from the last period/month as described below:

Depreciation basis = 1895.56
Economic lifetime = 12 months
Depreciation start date = 01-09-2010
Scrap value = 1
1895,56/12= 157,96
rounding:
157,96*12=1895,52
1895,56-1895,52= 0.04 to be added to the first month depreciation

Month 1 (01-09-2010 to 30-09-2010) = 157,96+0,04=158,00
Month 2 (01-10-2010 to 31-10-2010) = 157,96
Month 3 to 11 = 157,96
Month 12 = 156,96
total=158+10*157,96+156,96=1895,56-1,00=1894,56

In case “Full month depreciation” flag is removed from the “Depreciation Plan”, the system will have into account the number of days in order to allocate depreciation amount as described in the example below:

Depreciation basis = 1895.56
Economic lifetime = 12 months
Depreciation start date = 25-10-2010
Scrap value = 1
1895,56/12= 157,96
rounding:
157,96*12=1895,52
1895,56-1895,52= 0.04 to be added to the first month depreciation

Month 1 (01-10-2010 to 31-10-2010) = (30-25+1) * 157,96 / 30 = 31.59+0,04=31,63
Month 2 to 11 = 157,96
Month 12 = 1895.56 – (31,63+157,96*11) = 1895,56 – 1769,19 = 126,37-1,00 = 125,37

In case of an asset which has a subsidy or subsidies linked to it, the subsidy/ies amortization plan lines generated by the system at the same time asset depreciation plan lines are created, will be calculated same way. The amortization amount for each month of the economic life of the asset will be the same.

Depreciation Plan booking

Depreciation and amortization plan lines can be booked in the application path: Financial Management // Advanced Assets // Depreciation

End-user will have to find the Depreciation Line to be processed first and later on post by having into account the period: “Starting Date” and “Ending date”.

A Depreciation Line can contain several assets/subsidies for which depreciation/amortization must be book in the same period.

Depreciation posting looks as shown below by taking “depreciation account” and “Adjustment account” from the Asset Class of an asset:

Depreciation Account (DEBIT)
Adjustment Account (CREDIT)

Every time a depreciation plan line is processed below fields in the asset card, asset tab change:

• Depreciated Value = this fields sums up every depreciation amount once processed
• Last Depreciated Date = this field let the end-user know the date of the last depreciation line processed
• Current Total Amount = this field let the end-user know the difference between the depreciation basis and the depreciated value
• Previously Depreciated amount= this field sums up every depreciation amount once processed for the previous period
• Fully Depreciated = in case current total amount is 0,00 which means there is no depreciation plan line to process

Every time an amortization plan line is processed below fields in the asset card, subsidy sub-tab change:

• Current value = as the difference between the subsidy value and the subsidy amortized.

Amortization posting looks as shown below by taking the “subsidy account” from the general ledger configuration – defaults tab and the “Revenue of liquidation of subsidies” from the asset card, subsidy sub-tab.

Subsidy Account (DEBIT)
Revenue of liquidation of Subsidies (CREDIT)

Low value Pool Assets

Low value pool assets are long-term assets which are capitalized and book on a “pool” asset account.
There can be as many “pool” accounts as asset class.
This pool account is depreciated only once a year an in one total amount. There is no need to create an asset card for this type of assets.

Low value pool assets can also be purchased, self-made or donated.

Low value pool assets which are purchased must be booked in an asset account as any other asset, setup as “pool account” as shown in the screen below:

That way those “pool” asset accounts will not be captured by the Asset To Do List as there is no need to create an asset card for those type of assets.

One time depreciation will be manually booked by using a GL Journal by selecting the appropriate account combinations.

Change Depreciation Range

In some cases, there is a need of changing the depreciation range or economic life time of an asset which has started being depreciated.

For getting the above, there is a flag in the asset card, asset tab named “Change Depreciation Range”.
"Change Depreciation Range" flag will allow the end-user to change the economic life time of an asset,
and therefore recalculate its depreciation plan as described below:

Let's say we do have an Asset “Computer HIT 3000” with an economic life time of 15 months which was purchased and therefore started to be depreciated in September 2010 (01-09-2010//30-09-2010). It's depreciation basis is 2.100,00.

Dated on mid March 2011, September / October / November / December / January and February depreciation plan lines have been processed and posted which means:

• Computer HIT 3000 depreciated value = 840,00
• Computer HIT 3000 current value = 1.260,00
• Last Depreciation date = 28-02-2010 (6 months)

Dated on 23 March 2011 a sub-asset is purchased for the Computer HIT 3000, by example a new hard disk, which means it is possible and allowed to increase Computer HIT economic lifetime. End-user will have to follow below steps in order to manage this “special” situation:

• Financial team books a new purchase invoice for the hard-disk in the corresponding GL Item (hard disk account) previously created, dated on 23 March 2011
• Asset team runs the “Asset M. To Do List Updater” process so they know hard-disk item has arrived therefore there is a need of creating an asset card for it.
• Asset team creates the asset card for the sub-asset “hard-disk” by setting it up as “strong relationship” to the main asset “Computer HIT 3000” which should be previously set up as “summary”
• Once the asset card of the hard disk is created, asset team sets as verified the corresponding “Purchase To Do List line”
• Finally, asset team needs also to:
  • create the depreciation plan for the hard-disk starting March 2011
  • select the flag “Change Depreciation Range” for the Computer HIT 3000 and then change its economic lifetime to 17 months, by example, as shown in the screen below:
    
  • run once more the process “Recalculate Depreciation Plan” for Computer HIT 3000

System will take the asset current value (1.260,00) and will split it into the remaining economic life time which in our example is = 15 – 6 + 2 = 11 (1.260,00/11=114,55), as shown in the screen below:

Previously months already posted before the economic life time changed will remain as they are. Starting from month 7 up to 17 (11 months) will then take the newly calculated depreciation amount having into account rounding differences.

Asset Disposal

An asset disposal may have different reasons:

• theft
• scrapping or damage
• or a sale

In case of an asset theft or damage, end-user needs to manually book the corresponding lost or revenue by using a GL Journal as described below:

Lost posting in case of Asset current value > Asset Sales Price:
Asset Value= 10.000,00
Depreciated amount = 8.000,00
Asset Current value = 2.000,00
Asset sales price = 1.500,00€

1.500,00 € Bank (DEBIT)
500,00 € Cost from Asset Disposal (DEBIT)
8.000,00 € Adjustment Account (DEBIT)
10.000,00 € Asset Account (CREDIT)

Revenue posting in case of Asset current value < Asset Sales Price:

Asset Value= 10.000,00
Depreciated amount = 8.000,00
Asset Current value = 2.000,00
Asset sales price = 5.500,00€

5.500,00 € Bank (DEBIT)
8.000,00 € Adjustment Account (DEBIT)
10.000,00 € Asset Account (CREDIT)
3.500,00 € Revenue from asset disposal (CREDIT)

After above manual bookings, end-user needs to search the corresponding asset card and follow below described steps:

• Run the process "Set as Discharged" from the asset tab.
  
  The system will populate a new window for the end-user to enter the correspoding "Disposal Date", as shown in the screen below.
  
• Once the end-user enters the "disposal date", the system will automatically:
  • change the inventory status to “Discharge”
  • and remove the "depreciation plan lines" do not processed.

In case of a sale, end-user needs to book a sales invoice at the application path:
Sales Management // Transactions // Sales Invoice.

Once there financial people will have to create a sales financial invoice and select the GL item “Revenue of Asset Disposal” which should be previously created, as shown in the screen below:

The corresponding asset card of the asset being sold must be selected in the “Asset Card” sub-tab at sales invoice line level as shown in the screen below:

Sales invoice posting looks like, as an example:
3.500,00 € Customer (5310000) DEBIT
3.500,00 € Revenue from asset disposal (5361000) CREDIT

After the sales invoice has been complete and post, asset management team can run the process “Asset To Do List Updater” this time for the document type “Sales Invoice”.

This process will create a new line for the sales invoice in the “Sales” Asset To Do List at the application path: Financial Management // Advanced Assets // Asset To Do List // Sales, as shown in the screen below:

Asset team will only have to set that line as “Verified” which implies:

• sales to do list line will be flag as “Asset Card Verified”
• asset disposal date will be automatically populated by the system in the field “Date of disposal”.
  • Date of Disposal is the sales invoice accounting date, in our example 20/03/2011
• the system will calculate the “net book value” as the difference between the asset cost or depreciation basis and the depreciated amount, in our example (12.400,00-9.920,00 = 2.480,00)
• Inventory status will be also automatically changed to Discharged”

Finally, end user needs to manually book the corresponding Lost or Revenue by using a GL Journal. In our sales examle the asset sale mean a revenue:

Asset Value= 12.400,00
Depreciated amount = 9.920,00
Asset Current value = 2.480,00
Asset sales price = 3.500,00€

3.500,00 € Bank (DEBIT)
9.920,00 € Adjustment Account (DEBIT)
12.400,00 € Asset Account (CREDIT)
1.020,00 € Revenue from asset disposal (CREDIT)

Special Documents

Besides asset “addition” and “disposal” already explained, there are few more “asset specific” actions or movements which asset management teams would require to book for an asset.
A new window has been created in order to allow the end-user to book those kind of asset specific movements.

An asset can be:

• “manually depreciated” by the end-user for whatever kind of reason
• “specially depreciated” by the end-user if the corresponding authorities allow it to be done
• “appreciated” by the end-user for whatever kind of reason and if the corresponding authorities allow it to be done
• or “storno depreciated” in case of an error in a depreciation

Special documents work-flow:

Special documents can be booked at the application path:
Financial Management // Advanced Assets // Special Documents

Once there, asset team can create a new record and select below information:

• Client
• Organization
• Asset Card – which means the asset for which a special document is going to be booked.
• Description
• Document type – from a reference list = Appreciation, Manual Depreciation, Special Depreciation and Storno Depreciation
• Transaction date
• Accounting date
• Amount
• Currency

Once a specific movement, let's say an “Appreciation” is saved, the system will automatically populate the field “Document no” with the corresponding document number as there is a different “Document Sequence” for each document type.

End-user can then process and later on post each document type having into account that:

• Manual Depreciation and Special Depreciation mean the same financial booking, regardless those ones are different type of asset specific movements:
  

• Appreciation and Storno Depreciation mean the same financial booking, however it is really important to remark that those ones are different type of asset specific movements.

Storno booking

It could be that a purchased asset is booked to the wrong organization by mistake.

Financial team will need then to reverse that purchase invoice in the organization which was wrongly booked and book it once again for the correct one.

A reversal can be made by using:

• an "AP credit memo" which means a contra reversal where a debit is reversed with a credit
• and a "Storno Purchase Invoice" which means a storno reversal where a debit is reversed with a negative debit (and vice versa for a credit)

For getting the above done, end user should follow below steps in relation to Storno Purchase Invoice, same would apply to AP Credit Memo:

• Book a Financial Purchase Invoice, Document type = "AP Invoice", for the corresponding Asset account and for the Organization "A", at the application path:
  Procurement Management || Transactions || Purchase Invoice
  • Above transaction will generate below booking:
    • Vendor Liability CREDIT (500,-€)
      
    • Asset Account DEBIT (500,-€)
      
• later on book a "Financial Storno Puchase Invoice", Document type = "Storno Purchase Invoice" for the same Asset account and for the Organization "A", at the application path:
  Procurement Management || Transactions || Purchase Invoice, by linking it with the previous AP Invoice being reversed in the tab "Reversed Invoices" and also by selecting the corresponding ASSE
  • Above transaction will generate below booking:
    • Vendor Liability CREDIT (-500,-€)
      
    • Asset Account DEBIT (-500,-€)
      
• And finally book a Financial Purchase Invoice, Document type = "AP Invoice", for the corresponding Asset account and for the Organization "B", at the application path:
  Procurement Management || Transactions || Purchase Invoice
• Above transaction will generate below booking:
  • Vendor Liability CREDIT (500,-€)
    
  • Asset Account DEBIT (500,-€)
    

Above implies that the corresponding Invoice lines, the storno invoice lines for Organization A as well as the new invoice lines for Organization B are going to be populated in the corresponding "Asset Management To Do List" for Organizations A and B.

Asset Management To Do List will help end-user to:

• For the Organization A and once the Purchase To Do List line for the Storno Purchase Invoice has been verified:
  • that line will be flag as “Asset Card Verified”
  • asset disposal date will be automatically populated by the system in the field “Date of disposal” of the asset card.
    • Date of Disposal is the Storno Purchase Invoice accounting date.
  • the system will calculate the “net book value” as the difference between the asset cost or depreciation basis and the depreciated amount.
  • Inventory status will be also automatically changed to Discharge
• Storno the corresponding processed and posted depreciation entered for that asset if any by using "Storno Depreciation" at the application path: Financial Management || Advanced Assets || Special Documents || Assets Movements

• For the Organization B and once the Purchase To Do List line for the new Purchase Invoice has been verified, after the corresponding Asset Card has been created:
  • create the corresponding depreciation for that asset by running the process "Create Depreciation"

Rebooking

Rebooking of assets could happen and the reasons may be:

• Rebooking from the wrong asset account to the valid asset account
• Rebooking from the wrong depreciation & adjustment accounts to the valid ones
• Rebooking from under construction asset to final asset.

Rebooking from the wrong asset account to the valid asset account

Asset Management realize that a computer, which was purchased in March, was wrongly booked on the office machines asset account, therefore there is a need of rebooking to the right Asset Account by using a G/L Journal:
50.000,-€ Computer System (073100) DEBIT
50.000,-€ Office machines (086000) CREDIT

Rebooking from the wrong depreciation & adjustment account to the valid ones

Asset Management realize that a computer, which started to be depreciated in March, was wrongly booked on the office machines asset Class, therefore depreciation and adjustment account for office machines were used instead of Computer's ones, therefore there is a need of:

• remove the wrong accounts from the asset card, accounting sub-tab
• change the Asset Class for that Asset and therefore select the right accounts.
• rebook the depreciated value already posted to the right Depreciation Accounts by using a G/L Journal
• and rebook the depreciated value already posted to the right Adjustment Account by using a G/L Journal

Starting from April system will do the right depreciation posting by using the right accounts setup in the asset card, asset tab, accounting sub-tab.

Rebooking from under construction asset to final asset

Under construction items are items, which are still under construction.
It is not possible to depreciate assets under construction, regardless of what:

• The end-user will have to create the corresponding G/L item/s (Under Construction items Accounts, by example 095000) for booking all the costs applicable to that under construction items.
  • Those accounts will also be marked as "Asset Account" type.
• Invoice lines referred to "under construction items" must also be part of the "Asset Management To Do List", therefore the corresponding Asset Card for those type of Under Construction Items can be created as appropriate.
• Asset Card for those under construction items could also have an Asset Number and/or and Inventory Number as appropriate.
• When the asset is completed it will be possible to:
  • Manually Rebook the asset from the under construction account to the "final" asset account by using a G/L Journal.
    Manual rebook of Under Construction Item to Final Assets looks like:
    100.000,00€ (076000) Final Asset DEBIT
    100.000,00€ (095000) Under Construction item CREDIT
    
  • Manually start the depreciation as soon as the end-user enters the "final" "Depreciation Start Date" and run the Depreciation.

Asset Reporting

There is a specific "Asset Report" at the application path:
Financial Management // Advanced Assets // Asset Movements List

"Asset Movements List" process helps the end-user to get a list of all the documents related to an "asset account", documents such as:

• AP Invoices, AR Invoices, Storno Purchase Invoices and Storno Sales Invoices containing an asset account
• Appreciation, Manual depreciation, Special depreciation, Depreciation for Advanced Asset and Storno depreciation linked to an asset card

Asset Movements List process allows the end-user to enter below information in order to generate the report required:

• Output type = the end user can select either PDF, Html or Excel as output type.
• Client = the system will show the "Client" for which the report is going to be launched.
• Organization = the end-user can select the "Organization" for which the report is required to be launched.
• Date From = the end-user can enter a Date From, the system will include in the report all the documents with an accounting date greater than or equal to "Date From"
• Date To = the end-usr can enter a Date To. The system will include in the report all the documents with an accounting date less than or equal to "Date To".
• Document Type = the end-user can select a document type from the list provided if needed.
• Asset Owner = the end-user can select an asset owner from the list provided if needed.
• Asset Class = the end-user can select an asset class from the list provided if needed.
• Assset Card = the end-user can select an asset card from the list provided if needed.

"Asset Movements List" output is described below:

• Header section:
  • Report Date
  • Date From
  • Date To
  • Client
  • Organization

• Asset section:
  • Asset name
  • Asset number
  • Inventory number
  • Asset class
  • Asset owner
  • Rate of ownership
  • Currency
  • Adjustments - depreciated amount processed and post up to the last depreciation period.
  • Net Value previous period - wich is the difference between the asset value or depreciation basis amount and the depreciated amount booked up to the previous period.
  • Net Value current period - wich is the difference between the asset value or depreciation basis amount and the depreciated amount booked up to current period.

• Document detais section:
  • Document type
  • Document number or Invoice number
  • Document amount or Invoice line amount
  • Currency
  • Booking number
  • Accounting date
  • (Asset) Account only in case of Invoice document type.

As explained above, the end-user can get above report for a particular "asset", for a particular set of assets belonging to the same "asset class" or for a set of assets owned by the same "asset owner".