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Version: 8.4

General and accounting configurations of fixed assets

Fixed Assets Configurations​

Access: Accounting → Fixed Assets → Configurations

In the configurations, you will find three types of configuration:

  • Fixed asset categories ;

  • Fixed asset types ;

  • Assets disposal reasons.

info

Since version 8.1, new features have been introduced :

  • A new button has been added to create an ‘imported’ (or transferred) fixed asset.

  • Possibility to block a generation of accounting entries (only disposal entries or all entries).

Fixed asset types​

Access: Accounting → Fixed assets → Configurations → Fixed asset types

In fixed asset types, you will find four types of fixed assets. You can customise the names of fixed assets. By default, you will find the following fixed assets:

  • Tangible fixed assets ;

  • Fixed assets in progress ;

  • Financial fixed assets ;

  • Intangible fixed assets.

info

The technical type is useful for defining the type of fixed asset. Simply click on the fixed asset type record.

Fixed asset categories​

Access: Accounting → Fixed assets → Configurations → Fixed asset category

In the Fixed asset categories menu, you will find numerous fixed asset categories (for example, Transport equipment / computer equipment / furniture, etc.).

You can create a new fixed asset category or modify an existing one.

  1. Open/create a category record.

  2. Name: enter a name.

  3. Type of fixed asset: indicate the type of fixed asset.

  4. Company: select a company for which this fixed asset will be selectable.

  5. Validate automatically fixed assets generated from invoice: tick this box if you wish to activate the automatic validation of fixed assets that were generated from invoices.

  • Depreciation method tab: open this tab. Here, you will be able to enter the depreciation plan / computation method / periodicity / activate or deactivate prorata temporis.
note

You can select several plans at the same time, for example, it can be a Fiscal / Economic / Derogation plan.

  1. Depreciation plan: select an amortisation plan.

  2. Computation method: select the calculation method (linear or degressive).

  3. Number of depreciation: in the Periodicity section, in the Amortisation tab, select the number of amortisations.

  4. Periodicity type: select between Year or Month.

  5. Prorata temporis: tick this box if you wish to use prorata temporis. When this box is ticked, you can choose between Prorata temporis used in Europe, or you can tick the additional box ‘Use US prorata temporis’ (it appears once you’ve activated the first box).

caution

The box ‘Use US prorata temporis’ only appears when prorata temporis is activated.

  • Accounting Information tab

In this tab, fill in the Journal, as well as the accounts that will be used in the derogatory depreciation / IFRS depreciation / amortisation / Disposal of assets.

  • Analyticl tab In this tab, select an analytical distribution model.
tip

Remember to save the changes that have been made.

Reasons for disposal of fixed assets​

Access: Accounting → Fixed assets → Configurations → Asset disposal reasons

In this menu you will find the list with all default reasons for disposal of fixed assets. You can modify them and create new reasons.

On a record of a reason for the disposal of fixed assets, you will find a name that indicates the origin of the reason, the type of disposal (scrapping/sale/disposal of fixed asset in progress), as well as a code.

These reasons will be used for fixed assets that have already been validated and that you wish to dispose of.

Accounting configurations / Accounting information tab​

The accounting configurations for fixed assets are present in the Categories.

Access: Accounting → Fixed assets → Configurations → Fixed asset categories

On the Category form, in the Accounting information tab, the accounting configurations are organised into 5 sections:

  • Journal: record all transactions, allocations and accounting entries (moves) that will be generated in this specific journal.

  • Depreciation: here you will find all accounts necessary for depreciation, as well as for services and reversals of services (hidden for the ‘In progress’ asset types);

  1. Depreciation allowance account (expense 6811X);

  2. Depreciation account (Account 28X);

  3. Account for exceptional depreciation allowances (expense 687X);

  4. Account for fixed asset depreciation (Account 29X);

  5. Allowance account for depreciation (Expense 6816X);

  6. Account for reversal of depreciation (Income 7811X).

  • Derogatory depreciation: derogatory depreciation is used for the generation of entries via special depreciation for provisions and reversals of provisions (only used with the Special chart of accounts);

  1. Derogatory depreciation provisions account (Capital 145X);

  2. Derogatory depreciation provisions account (Expense 687X);

  3. Regulated provisions reversal account (Income 787X).

  • Asset cession: here you will find the account for the value of assets that were disposed of / the account for the proceeds of the disposal of assets / the account for receivables on disposal.

  1. Account for the value of assets disposed of (VCEAC) (expense 675X);

  2. Account for proceeds from disposal of assets (PCEA) (Proceeds 775X);

  3. Account for receivable on disposal (Third Party Customer 462X).

  • IFRS depreciation: is applied only if the IFRS chart of accounts is used / an IFRS depreciation allowance account / or an IFRS expense account.

Here, the accounting configurations will enable you to generate accounting entries later.