AugTool Documentation
Fixed Assets
This is a new build where a record of the Fixed Assets can now be kept on Augtool. Once all relevant information is captured you will also be able to create Depreciation Runs where the system calculates the depreciation for you and creates a link to an Asset Entry which is populated with the relevant information from the depreciation run and allows you to post. You also have the option on the Asset Entry to Create Financials or not, as there might be instances where you want to capture historical data of the assets without the financials, especially in cases where there are take-on balances. There are 4 new sections in the current build.
General
There are new Permissions for all that will need to be selected in order to be used.
The Fixed Asset sections is in Accounts.
There is a new Business Unit Default for Stock Adjustments.
1. Fixed Asset Categories
This is similar to Product Categories and is where you set the Depreciation Rate and model. You will then need to assign every Asset to a Category.
2. Fixed Assets
Here you will be able to to Create, Edit and View the Assets. This controls Setup of the asset. There is a new Classification for Fixed Assets that can be selected on the Chart of Account. The Fixed Assets also allows you to Create asset entries from Value Tab.
3. Depreciation Run
(Similar to interest run, generates depreciation amount for assets)
- Depreciation Runs can be backdated so date must be today and before. If date is after today it should throw error.
- Add Asset to the run and it calculates the depreciation amount using the model and depreciation rate selected in the asset edit.
- Initially after posting, the Depreciation shows you the:
Calculate buttons which show the calculation of the depreciation amount
Create Asset entry Button which Creates an Asset entry for all the assets in the depreciation run with the depreciation amounts.
- The depreciation runs that have a linked asset entry also has a "go to" button for each other.
4. Asset Entries
The Asset Entries are similar to Stock Entries, adjusts the current price of the asset.
There is an option as a drop down to Create Financials or not. This allows you to capture historical data of the asset without creating financial entries. There is a default asset adjustment account in Business Unit. An Asset Entry with a negative value will credit the asset account and debit the adjustment account. You will also be able to attach documents here. The Asset Entry will not allow adjustments that brings the assets value below 0. The asset entry and depreciation also has an asset category filter that allows you to select categories of assets.
