Entering an Asset - Header
This page describes the fields in the Header of the Asset record. Please follow the links below for descriptions of the other cards:
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- Inventory No.
- Enter the unique code by which the Asset is to be identified from elsewhere in Standard ERP. You can use a maximum of thirty characters.
- Description
- Enter a name or description for the Asset. In the case of an Asset that you created from a Purchase Invoice row, this will be taken from the Description field in the Purchase Invoice row.
- Inactive
- Tick this box to "remove" the Asset from use. Usually, Inactive Assets will not be included in reports and depreciation calculations, although you can choose to include them if you wish. Inactive Assets will also be excluded from 'Paste Special' list of Assets, but will still appear in the 'Assets: Browse' window.
- Note that if you sell or write an Asset off using the Disposal register, it will not be marked as Inactive automatically, because you might not want to remove the Asset from reports immediately. You should mark it as Inactive yourself when appropriate.
- Category
- Paste Special
Asset Category register, Assets module
- Assigning an Asset to an Asset Category will cause the N/L Class, Tags/Objects and Depreciation Models specified in the Asset Category to be brought in to the Asset automatically as defaults. You can change any of these defaults in an individual Asset record if necessary.
- You can also use the Asset Category as a reporting criterion in many reports and, in Portugal, you can use Asset Categories to control how groups of Assets are treated in reports. Please refer to the description of the Asset Category register here for details and an example.
- N/L Class
- Paste Special
Asset N/L Classes setting, Assets module
- Default taken from Asset Category
- The Asset Class (also known as the "Asset N/L Class" and here as the "N/L Class") determines how depreciation of the Asset and other accounting events involving the Asset will be handled in the Nominal Ledger (i.e. the Accounts and Tags/Objects that will be used).
- Whenever an Account is required, it will be chosen as follows:
- The Account will be taken from the Asset Class to which the Asset belongs.
- If an individual Asset record does not belong to an Asset Class, the Account will be taken from the Asset Class specified in the Asset Category to which the Asset belongs.
- For depreciation to be calculated for the Asset, you must have specified an Asset Class in this field, or you must have assigned the Asset to an Asset Category that in turn you have assigned to an Asset Class. If neither condition is satisfied, depreciation will not be calculated or posted.
- Classification
- Paste Special
Asset Classifications setting, Assets module
- The Asset Classification is a means of classifying Assets for reporting. You can assign several Classifications to each Asset record, separated by commas, and you can then use the Asset Classification as a search criterion in the Asset List report.
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The Asset register in Standard ERP:
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