Maintain fixed assets

  • [アーティクル]

If a fixed asset is closed down or inactive for more than three months, or if refurbishment of the asset is conducted for more than 12 months, calculation of depreciation is suspended. It resumes when the fixed asset is put back into operation. For example, a fixed asset may be inactivated in the case of capital improvements. "Capital improvements" is a special asset category that includes capital renovations, improvements, technical updates, additional construction, and the acquisition of additional equipment for a fixed asset. When you update capital improvements, calculated depreciation isn't revalued. However, the depreciated cost and service life of the fixed asset are changed.

Temporarily inactivate a fixed asset

  1. Select Fixed assets (Russia) > Common > Fixed assets.

  2. Select the fixed asset to temporarily inactivate. The status of the asset is currently In operation.

  3. On the Action Pane, on the Fixed asset tab, in the History group, select Temporary closing-down to open the Temporary closing-down page.

  4. In the Start date field, select the inactivation date, and then close the page. The status of the asset is updated to Temporary closing-down.

    Note

    Depreciation isn't accrued while the status of a fixed asset is Temporary closing-down.

Reactivate a fixed asset

  1. Select Fixed assets (Russia) > Common > Fixed assets.

  2. Select the fixed asset that has a status of Temporary closing-down.

  3. On the Action Pane, on the Fixed asset tab, in the History group, select Temporary closing-down to open the Temporary closing-down page.

  4. In the Finish date field, select the reactivation date, and then close the page.

    Note

    Depreciation is calculated from the date that is specified in the Depreciation start date field on the Depreciation groups page.

Post an update for a major repair of a fixed asset

You must complete the following tasks before you can post an update for a major repair of a fixed asset:

  1. Create dimensions for depreciation. For more information, see Define financial dimensions.
  2. Set up expense codes.
  3. Set up bonus depreciation.
  4. Set up depreciation groups.

Create a journal for a major repair of a fixed asset

  1. Select Fixed assets (Russia) > Journals > FA journal.

  2. Create a fixed asset (FA) journal.

  3. In the Name field, select a journal name.

  4. In the Description field, view or modify the description of the journal.

  5. Select Lines.

  6. Create a journal line.

  7. In the Transaction date field, select the date to update the transaction on.

  8. In the Transaction type field, select Major repairs.

  9. In the FA inventory number field, select the fixed asset number.

  10. In the Value model field, select the value model of the fixed asset.

  11. In the Reason code field, select a reason code.

  12. In the Reason comment field, update the reason for the major repair of the fixed asset.

  13. Select OK. The improvement lines for the asset are shown in the journal.

  14. In the Description field, select transaction text.

  15. In the Debit or Credit field, enter the transaction amount.

  16. In the Offset account type field, select the type of offset account.

  17. In the Offset account field, select the offset account number.

    Tip

    You can also select Group operations > Major repairs on the Action Pane to create transactions for several fixed assets.

  18. On the Action Pane, select Post > Post to post the journal.

Update a value model for a fixed asset

  1. Select Fixed assets (Russia) > Common > Fixed assets.
  2. Select a fixed asset, and then, on the Action Pane, select Value models.
  3. On the Action Pane, select FA lifetime history.
  4. Select New, and then in the Date field, select the date of the lifetime change.
  5. In the New lifetime and New factor fields, enter a lifetime and factor for the fixed asset.
  6. In the Depreciation method and Depreciation subgroup fields, select a depreciation method and subgroup.
  7. In the Reason code field, select a reason code.
  8. In the Reason comment field, update the reason for the transaction.

Note

When major repair work is done on a fixed asset, bonus depreciation can be applied to the asset on or after the transaction date of the major repair. You can create a transaction for a major repair of a fixed asset, and you can specify the bonus depreciation and bonus start date. The start date of the bonus depreciation can be the same as the transaction date of the major repair, or it can be the next depreciation date.

Reverse major repair transactions

By default, when you reverse transactions, the reversal date is equal to the original transaction date. However, you can specify a different reversal date.

  1. Go to Fixed assets (Russia) > Fixed assets, and on the Action Pane, select Value models.
  2. On the FA value models page, on the Action Pane, select Transactions.
  3. On the FA transactions page, select and transaction and on the Action Pane, select Reverse transaction.
  4. In the Reverse transactions dialog box, change the transaction reversal date as needed and then select OK. A transaction to reverse the original transaction is created and added to the FA transactions page.
  5. Select Voucher, and on the Voucher transactions page, view the transactions in the ledger.