Set up fixed assets (Russia)

Set up fixed asset value models

You define a value model so that you can create fixed asset transactions in the general ledger for accounting functions, such as tax and business transactions. You can also create submodels and depreciation groups for each value model.

Follow these steps to set up value models for fixed assets.

1. Select Fixed assets (Russia) > Setup > Value models.

2. Select New to create a value model.

3. In the Value model field, enter the code for the value model.

4. In the Name field, enter the name of the value model.

5. In the Currency field, select the currency code for the fixed asset value model.

6. In the Round-off field, enter the value that is used to round amounts.

7. In the Posting profile field, select the posting profile that is used to post fixed asset transactions.

8. In the Posting profile (Shortage) field, select the posting profile that is used to write off fixed assets.

9. In the Posting layer field, select a posting layer for value model transactions:

   • Current − The value model is used for all general business transactions and corrections (accounting purpose).

   • Operations – The value model is used for unique business transactions and corrections that are part of the periodic financial reporting for internal purposes.

   • Tax − The value model is used for tax accounting purposes.

     Note

     A separate posting profile must be configured for the tax value model, because the value of the fixed asset tax account is based on off-balance accounts.

10. Optional: On the FA value submodels FastTab, follow these steps to create submodels or derived models for the value model:

    1. Select Add to create a submodel.
    2. In the Value model field, select a derived model for the value model.
    3. In the Transaction type field, select the type of transaction that the derived model is associated with.

11. Select Depreciation groups to define depreciation groups for the value model. For more information, see Set up depreciation groups.

Set up fixed asset posting profiles

You can set up posting profiles for fixed assets. Posting profiles define the ledger accounts that are used for each fixed asset transaction.

1. Select Fixed assets (Russia) > Setup > Posting profiles.

2. Select New to create a fixed asset posting profile.

3. In the Posting profile field, enter the name of the posting profile.

4. In the Description field, enter a description of the posting profile.

5. On the Ledger accounts FastTab, in the drop-down list, select the type of transactions that the posting profile is used for:

   • Depreciation – Depreciation is calculated for a fixed asset.
   • Depreciation revaluation – The depreciation that is calculated for a fixed asset is revaluated.
   • Major repairs – Major repairs are done for a fixed asset.
   • Putting into operation – A fixed asset is put into operation.
   • Cost revaluation – The cost of a fixed asset is revaluated.
   • Disposal (sale) – A fixed asset is disposed of through sale.
   • Disposal (dismantlement) – A fixed asset is disassembled.
   • Partial take-down – A fixed asset is partially disposed of.
   • Currency cost revaluate – A fixed asset is revaluated based on the currency cost.
   • Currency depreciation revaluate – The depreciation that was calculated for a fixed asset is revaluated in accounting currency.
   • Others – Select this option for other fixed asset transactions.

6. In the Groupings field, select the grouping to use for the posting profile:

   • Table – Select this option to retrieve fixed asset data (values) from the table.
   • Group – Select this option to retrieve a defined depreciation group from the fixed asset group.
   • All – Select this option to retrieve all fixed asset transactions.
   • Accounting – Select this option to retrieve a defined value model.

7. In the Account/Group number field, select the value model, group, or fixed asset object that the posting profile should be used for.

8. In the Ledger account field, select the account number of the ledger account (debit) for the transactions.

9. In the Offset account field, select the account number of the offset account (credit) for the transactions.

10. Select Options, and then select a transaction type:

    • Disposal (sale)
    • Disposal (dismantlement)
    • Partial dismantlement
    • Lease
    • Return from lease
    • Writing-off
    • Receipt
    • Transference
    • Depreciation bonus

    A page appears, where you can define the posting for different types of amounts for the selected transaction type.

11. Select New to create a line. For example, for the Disposal (sale) fixed asset transaction type, you can create lines to define the following posting.

    Valid for	FA relation	Amount to post	Gain/loss	Main account	Offset account
    All		Net book value	All	01.300	91.200
    All		Balance cost	All	01.100	01.300
    All		Booked depreciation	All	02.010	01.300
    All		Gain/Loss	Loss	99.100	91.200
    All		Gain/Loss	Gain	91.100	99.100

12. In the Valid for field, select the grouping to use for the posting profile:

    • Table – Select this option to retrieve fixed asset data (values) from the table.
    • Group – Select this option to retrieve a defined depreciation group from the fixed asset group.
    • All – Select this option to retrieve all fixed asset transactions.
    • Accounting – Select this option to retrieve a defined value model.

13. In the FA relation field, select the value model, group, or fixed asset object that should be used for the posting profile.

14. In the Amount to post field, select the type of amount to post to the specified account.

15. In the Gain/loss field, select the type of amount to post:

    • All – Any amount
    • Loss – The amount of loss
    • Gain – The amount of gain

16. In the Ledger account field, select the account number of the ledger account (debit) for the transactions.

17. In the Offset account field, select the account number of the offset account (credit) for the transactions.

18. Select the Don't show in journal check box if gain/loss transactions should not be shown in a fixed asset journal.

Set up fixed asset groups

Fixed asset groups are used to group fixed assets. By defining fixed asset groups, you accomplish the following goals:

• Simplify the setup of fixed assets and posting profiles for fixed assets.
• Simplify the creation of queries and reports.
• Create a template, so that default shared information is copied into the records for new and similar fixed assets that the company acquires.

Use the FA groups list page to define fixed asset groups for accounting of fixed assets, working clothes, special rigging, and not-valuable fixed assets (NVFAs). To each group that you define, you assign an appropriate type by using the Type of group field. You can also use the FA group value models page to set up value models for the fixed asset groups that you define, and can specify the duration of an asset's wear or usage period.

1. Select Fixed assets (Russia) > Setup > FA groups.

2. Select New to create a fixed asset group.

3. In the FA group field, enter the code for the fixed asset group.

4. In the Name field, enter the name for the fixed asset group.

5. In the Type of group field, select Fixed assets, Working clothes, Special rigging, or NVFA as the type of fixed asset group.

6. In the VAT refunding field, select the start date for refunding value-added tax (VAT) for the fixed assets in the group:

   • Acquisition date – Start to refund VAT from the acquisition date.
   • Depreciation run date – Start to refund VAT from the date of depreciation.

7. Select the Autonumeration FA check box to automatically generate fixed asset numbers when fixed assets are created for the group on the Fixed assets page.

8. In the FA autonumbering sequence field, select a number sequence for automatic number generation.

9. Select the Barcodes autonumeration check box to automatically generate bar codes for the fixed assets in the group.

10. In the Barcode autonumeration sequence field, select a number sequence for automatic bar code generation.

11. Select Value models to open the FA group value models page.

12. In the Value model field, select a value model for the fixed asset group.

13. In the Depreciation group field, select a depreciation group for the fixed asset group.

    Note

    When you create a fixed asset for a specific fixed asset group, the value model and depreciation group that you define on this page are entered by default on the Value models page and can't be changed.

14. Set the Service life by rate option to Yes to specify the wear or usage period for the asset, based on the lifetime that is specified on the Working clothes/Special rigging/NVFA issue journal page during the issue process. If this option is set to No, the usage period is determined by the depreciation group.

    Note

    The Service life by rate option is available only when you select Working clothes, Special rigging, or NVFA in the Type of group field on the FA groups page. If you set this option to Yes, the lifetime that is specified on the Issue and usage rates page is entered in the Lifetime field on the Working clothes/Special riggings/NVFA issue journal lines page when you create an issue journal for the asset. The lifetime is updated on the working clothes or special rigging card.

Set up fixed asset parameters

1. Select Fixed assets (Russia) > Setup > Parameters.

2. On the Fixed assets tab, on the General FastTab, in the Base value model field, select the value model for accounting.

3. In the Tax value model field, select the value model for tax accounting.

4. In the Minimal depreciation field, enter the minimum depreciation amount when a fixed asset is depreciated by using the Reducing remainder method.

5. Set the Allow multiple putting into operation option to Yes to allow multiple acquisitions to be entered (put into operation).

   Note

   If this option is set to Yes, you can register multiple acquisition transactions for a fixed asset. Therefore, you can register changes in the cost of the asset over time.

6. Set the Autonumeration FA option to Yes to activate automatic numbering.

7. Set the Barcode equals FA number option to Yes to automatically assign bar codes for fixed asset numbers.

   Note

   If this option is set to Yes, a bar code number that is the same as the fixed asset number is automatically generated for a fixed asset. This bar code number will be shown on the Fixed assets page.

8. Set the Barcodes autonumeration option to Yes to automatically number bar codes by using a number sequence.

   Note

   This option is available only if the Barcode equals FA number option is set to No.

9. In the Round-off field, enter the value that transaction amounts must be rounded by for accounting purposes.

10. In the Posting profile field, select the default posting profile that should be used if no posting profile is specified for the value models.

11. In the Language field, select a language for the fixed asset documents.

12. In the Reservation field, select Manual, Automatic, or Explosion to specify the type of reservation that is done for items during assembly or disassembly of a fixed asset.

13. On the Reason codes FastTab, set the Require reasons for asset changes option to Yes if a reason must be entered for the fixed asset transactions that you will select in the next step.

14. In the Not required list, select the fixed asset transactions that reason codes must be entered for, and move them to the Required list.

15. On the Tax reporting tab, in the Assessed tax, Transport tax, and Land tax sections, in the Sales tax code field, select a sales tax code. Then, in the Compression field, select the level of compression:

    • Tax – When you create a fixed asset tax journal in the ledger, the details of the journal lines are generated according to the tax codes.
    • Total – When you generate transactions in the fixed asset tax journal in the ledger, the total of the transactions is generated. The details of the journal lines aren't generated according to the tax codes.

16. On the Document tab, select the analysis code, and set up the number sequences for fixed asset documents.

17. On the Financial dimensions tab, select the financial dimension codes for the fixed asset transactions.

18. On the Number sequences tab, select a number sequence for FA inventory number, Bar code, FA revaluation, FA counting, FA transfer, Writing off on condition, and Assessed tax register journal number.