You cannot add an asset with the same asset code as a capex asset that exists in suspense (Assets in Suspense).

See Deletion considerations in Notes and warnings

See Error messages in Notes and warnings.

This field is only enabled when your Asset numbering method is set to Manual (Set Key Information). When your asset numbering is not set to Manual you can, however, use the Browse icon to select an asset to maintain.

When asset numbering is set to Automatic, the system allocates the next asset code number according to the current entry in the Next asset field of the Set Key Information program when you add a new asset.

This indicates the code of the asset you are currently adding or maintaining.

Indicate the branch to which the asset belongs and must be defined against each asset.

This field is used to accumulate month-to-date and year-to-date expenses. It is also the default branch used for the asset in Asset Transactions and Asset Labor Time Sheet Posting programs, but can be overridden at the time of entry.

Additionally, the Assets Register can be integrated to the General Ledger at branch level (General Ledger Integration - Assets interfaces).

Asset branch codes are maintained using the Asset Branches program.

Indicate the cost center to which the asset is allocated and must be defined against each asset.

Asset transactions may be integrated to the General Ledger by Cost center General Ledger Integration) and Cost centers can be defined within Branches for integration purposes.

Cost centers are maintained using the Asset Cost Centers program.

Enter a valid group code to be assigned to the asset. A valid group code (Asset Groups) must be defined against each asset.

The group can be used for ledger integration purposes to establish the correct ledger codes for the various depreciation codes (General Ledger Integration).

The asset group can be changed when:

Asset groups are also used as a subtotaling criterion when printing reports.

Items that you wish to attach using the Asset Master Sub-assets program must belong to the same group.

Specify the location of the asset, which is used as a subtotalling criterion when printing reports.

Items that you want to attach using the Asset Master Sub-assets program must be in the same location.

Asset locations are maintained using the Asset Locations program.

You use the asset type to classify the asset. An asset type must be defined against each asset.

It is can be used as a selection criterion when printing asset details using the Asset Full Enquiry Listing program.

Asset types are maintained using the Asset Types program.

Select this to define the General Ledger code that must be used for the expense side of depreciation transactions for this asset.

This option is only available when the Post book value depreciation to option is set to Integration setup (Assets Register Setup).

If you select this option, then you must enter a valid General Ledger code in the Ledger code field. The depreciation code defined against the Depreciation field in the General Ledger Integration program is then ignored for this asset.

Indicate the ledger account to which the expense side of depreciation entries must be distributed for General Ledger integration purposes. This cannot be a Statistical account type.

The accumulated depreciation entries for all assets are posted to the ledger according to the integration method defined in the General Ledger Integration program.

This field is automatically enabled and you must enter a valid general ledger code when the Post book value depreciation to option is set to Individual asset (Assets Register Setup) then

You can enable this field by selecting the Depreciate by asset option when the Post book value depreciation to option is set to Integration setup (Assets Register Setup. You must then enter a valid General Ledger code for the depreciation transactions for this asset. In this case, the code you enter here is used for depreciation transactions for this asset and the code defined in the General Ledger Integration program is ignored.

Ledger codes are maintained using the General Ledger Codes program.

Enter the purchase date of the asset.

This date must be on or before the current period end date of your Assets module (Assets Setup). You cannot add assets into the future.

The Purchase date is used to determine the period from which depreciation must be calculated, unless you specify a date in the Start depreciation date field.

You must enter this purchase date when your number of Accounting periods per year is set to 12 (Company Setup). However, you need not specify the Purchase period and Purchase year as the system calculates these based on the purchase date.

You must enter this purchase date and the Purchase period and Purchase yearwhen your number of Accounting periods per year is set to 13 (Company Setup) as the system cannot calculate these for 13 accounting periods. In this case, the purchase date is merely a memo date and the purchase period and year are used for calculations.

If the purchase date is in a previous financial year and Assets is integrated to the General Ledger, then the cost and accumulated depreciation for the previous year are posted to the appropriate balance sheet accounts. The expense side of the accumulated depreciation for the previous year is posted to the Asset clearing account. The depreciation for the current year is posted to the depreciation expense account. The depreciation for the current period is posted when you run the Asset Depreciation Calculation program and select to update depreciation. Depreciation is calculated according to the Date conventions you indicated (Assets Register Setup).

Indicate the financial period in which the asset was purchased.

You cannot enter this when your number of Accounting periods per year is set to 12 (Company Setup) as the system calculates it from the Purchase date entered.

Indicate the financial year in which the asset was purchased.

You cannot enter this when your number of Accounting periods per year is set to 12 (Company Setup) as the system calculates it from the Purchase date entered.

The value you enter here is purely for notational purposes.

It indicates the amount of tax (if any) paid on the asset.

Indicate the status of the asset.

It could be used to indicate the whereabouts or the condition of an asset at a particular time. For example, if the asset is being refurbished, is in storage or temporarily out of commission.

The Asset status code is used for information purposes only and does not have to be defined against an asset.

Asset status codes are maintained using the Asset Statuses program.

Capex item

This indicates the capital expenditure reference number attached to the capex item, if the requisition line for the asset was generated using the Assets in Suspense program.

You cannot change this number if the Capex line number is greater than zero as this indicates that the asset was created using the Assets in Suspense program.

You can browse on capex items using the Browse on Asset Capex Items program.

Indicate the person responsible for the asset.

For example, for a vehicle it could be the name of the driver.

This field is not mandatory and is used for information purposes only.

Indicate the person responsible for the safe-keeping and/or the maintenance of an asset, or the person responsible for authorizing any costs spent on the asset.

For example the Fleet Manager could be the responsible owner for all vehicles in the organization.

Although this field is used for information purposes only, an owner must be defined against each asset.

Owners are maintained using the Asset Owners program.

See Field considerations in Notes and warnings.

Indicate the number of times per annum that the asset must be counted.

This is only an information field and can be used to perform asset count selections using the Asset Count Extract-Cancel program.

This displays the cost value entered when the asset was acquired (see Asset Acquisition).

This displays the original start depreciation date entered when the asset was acquired (see Asset Acquisition).

The wording displayed for these books defaults to Alt valuation 1, Alt valuation 2,etc., but is replaced by whatever wording is assigned to these user-defined fields (Assets Setup).

Enter a valid depreciation code. Depreciation for the asset is calculated based on the depreciation type defined against the depreciation code (see Asset Depreciation Codes).

If you have already specified a Group code for this asset, then the Book value depreciation code assigned to the group is displayed here, but can be changed.

Select this to stop calculating Book value depreciation for this asset.

	Not only is Book value depreciation not calculated for the asset, but no depreciation is calculated for the asset on the Asset Movement Schedule for future periods.

Indicate the residual value (if any) for Book value purposes.

By default, book value depreciation is calculated on the Cost/value of the asset, unless a residual value is defined and the option: Exclude residual from depreciation for - Book value (Assets Setup) is enabled. In this case, the residual value is deducted from the cost of the asset before calculating book value depreciation.

An asset is depreciated until the residual value entered here is reached (i.e. the accumulated value equals the difference between the cost value and the residual value.

For example:

You have and asset with a cost of 100 000 and a residual value of 10 000. Assume that the asset is depreciated at 20% per annum straight line with no varying depreciation.

The asset is always depreciated only until the book value residual amount entered here is reached (i.e. the accumulated depreciation equals the difference between the cost/value and the residual value).

	If a Minimum book value is defined against the asset group for this asset (Asset Groups) and the Minimum book value is greater than the Residual value defined here, then the asset is depreciated up to the Minimum book value defined against the group and not the Residual value defined here.

If no residual value is entered, then the asset is depreciated until its current asset value is zero, assuming no minimum book value for the asset group is defined (Asset Groups)

Indicate the date on which Book value depreciation of the asset must start. This defaults to the Purchase date entered, but can be changed.

	Depreciation is calculated according to the Date conventions indicated (Assets Register Setup).

Indicate the financial period from which Book value depreciation for the asset must be calculated.

This applies only when your number of Accounting periods per year is set to 13 (Company Setup).

You must enter the start depreciation period as the system cannot calculate it based on the Start depreciation date. The Start depreciation period no together with the Start depreciation no year govern most date manipulations, so you need to ensure that these are correct.

You cannot enter this when your number of Accounting periods per year is set to 12 (Company Setup) as the system calculates it from the Start depreciation date entered.

Indicate the financial year from which Book value depreciation for the asset must be calculated.

This applies only when your number of Accounting periods per year is set to 13 (Company Setup).

You must enter the start depreciation year number as the system cannot calculate it based on the Start depreciation date. The Start depreciation period no together with the Start depreciation no year govern most date manipulations, so you need to ensure that these are correct.

You cannot enter this when your number of Accounting periods per year is set to 12 (Company Setup) as the system calculates it from the Start depreciation date entered.

Enter the estimated throughput value for the entire life of the asset. This is used for calculating the Statistical EUL depreciation amount.

For example, if you are depreciating a vehicle based on through-put of kilometers and the vehicle's estimated total life in kilometres is 300 000, then you enter 300 000 in this field.

This field is only enabled if you entered a Statistical EUL depreciation code type at the Depreciation code field.

EUL is an acronym for Estimated Usable Life.

Enter the General Ledger code to which you will process the statistical throughput value for the current period. This ledger code must have an Account type of Statistical (General Ledger Codes).

The through-put value you enter in this statistical ledger code is used by the Asset Depreciation Calculation program when calculating the depreciation value for the asset for the current period. For this reason, you would create a unique statistical ledger code for each asset for which to calculate depreciation based on Statistical EUL.

For example, if you are depreciating a vehicle based on throughput of kilometers, then for each period, you will enter the kilometres travelled for that period in the statistical ledger code you define here.

This field is only enabled if you entered a Statistical EUL depreciation code type at the Depreciation code field.

This defaults to the default number of periods defined against the depreciation code, but can be changed.

Enter the fixed number of periods over which the asset must be depreciated.

For example, if the Estimated Useful Life (EUL) of the asset is 10 periods, then you enter 10 in this field. The asset is then depreciated over 10 periods.

This field is only enabled if you entered a Fixed EUL depreciation code (see Asset Depreciation Codes) for the asset.

Enter the fixed number of years over which the asset must be depreciated.

This defaults to the default number of periods defined against the depreciation code, but can be changed.

Specify tax allowance (wear and tear) depreciation information.

You typically use these options where the tax depreciation rate for the asset differs from the Book value depreciation rate or the depreciation start dates for Tax and Book value depreciation differ.

Enter a valid depreciation code. Depreciation for the asset is calculated based on the depreciation type defined against the depreciation code (see Asset Depreciation Codes).

If you already specified a Group code for this asset, then the tax depreciation code assigned to the group is displayed here, but can be changed.

Select this to stop calculating Tax value depreciation for this asset.

Indicate the residual value (if any) for tax purposes.

By default, tax value depreciation is calculated on the Tax Cost/value of the asset (Asset Acquisition) unless a residual value is defined and the option: Exclude residual from depreciation for - Tax valuation is enabled (Assets Setup). In this case, the residual value is deducted from the tax cost of the asset before calculating tax value depreciation.

The asset is always depreciated only until the tax value residual amount entered here is reached (i.e. the accumulated tax depreciation equals the difference between the tax cost/value and the tax residual value).

	If a Minimum tax value is defined against the asset group for this asset (Asset Groups) and the Minimum tax value is greater than the Residual value defined here, then the asset is depreciated up to the Minimum tax value defined against the group and not the Residual value defined here.

If no residual value is entered, then the asset is depreciated until its current tax asset value is zero, assuming no minimum tax value for the asset group is defined (Asset Groups).

Indicate the date from which tax allowance (wear and tear) depreciation must be calculated.

This enables you to define an asset with a depreciation start date for Tax allowance (wear and tear) depreciation that differs from the depreciation start date for book value depreciation.

Depreciation is calculated according to the Date conventions indicated (Assets Register Setup).

Indicate the financial period from which Tax value depreciation of the asset must be calculated.

This applies only when your number of accounting periods per year is set to 13 (Company Setup).

You must enter the start depreciation period as the system cannot calculate it based on the Start depreciation date. The Start depreciation period no together with the Start depreciation no year govern most date manipulations, so you need to ensure that these are correct.

When your number of accounting periods per year is set to 12 (Company Setup) you cannot enter this as the system calculates it from the Start depreciation date entered.

Indicate the financial year from which Tax value depreciation for the asset must be calculated.

This applies only when your number of Accounting periods per year is set to 13 (Company Setup).

You must enter the start depreciation year number as the system cannot calculate it based on the Start depreciation date. The Start depreciation period no together with the Start depreciation no year govern most date manipulations, so you need to ensure that these are correct.

You cannot enter this when your number of Accounting periods per year is set to 12 (Company Setup) as the system calculates it from the Start depreciation date entered.

Enter the estimated throughput value for the entire life of the asset. This is used for calculating the Statistical EUL depreciation amount.

For example, if you are depreciating a vehicle based on through-put of kilometers and the vehicle's estimated total life in kilometres is 300 000, then you enter 300 000 in this field.

This field is only enabled if you entered a Statistical EUL depreciation code type at the Depreciation code field.

EUL is an acronym for Estimated Usable Life.

Indicate the General Ledger code to which you will process the statistical throughput tax value for the current period. This ledger code must have an Account type of Statistical (General Ledger Codes).

The through-put value you enter in this statistical ledger code is used by the Asset Depreciation Calculation program when calculating the depreciation tax value for the asset for the current period. For this reason, you would create a unique statistical ledger code for each asset for which you want to calculate tax depreciation based on Statistical EUL.

For example, if you are depreciating a vehicle based on throughput of kilometers, then for each period, you will enter the kilometres travelled for that period in the statistical ledger code you define here.

This field is only enabled if you entered a Statistical EUL depreciation code type at the Depreciation code field.

This defaults to the default number of periods defined against the depreciation code, but can be changed.

Enter the fixed number of periods over which the asset must be depreciated.

For example, if the Estimated Useful Life (EUL) of the asset is 10 periods, then you enter 10 in this field. The asset is then depreciated over 10 periods.

This field is only enabled if you entered a Fixed EUL depreciation code (see Asset Depreciation Codes) for the asset.

Enter the fixed number of years over which the asset must be depreciated.

This defaults to the default number of periods defined against the depreciation code, but can be changed.

Record the agreement number of the asset if the asset is being leased or hired.

This number is used for documentation purposes only.

Indicate the manner in which the asset was purchased.

They are used for documentation purposes only.

You use these fields to record whether the asset was purchased new or second hand.

These fields are used for documentation purposes only.

Indicate the first installment date of the asset.

This field is used for documentation purposes only.

Indicate the monthly amount payable on the lease or hire purchase.

It is calculated as: (Cost/value + Total interest payable) / Period of lease or hp.

Enter the registration number for a vehicle asset.

This number is used for documentation purposes only.

Enter the chassis number for a vehicle asset.

This number is used for documentation purposes only.

Enter the engine number for a vehicle asset.

This number is used for documentation purposes only.

Enter an identity number or other serial number for the asset, if required.

This number is used for documentation purposes only.

Enter the supplier from which the asset was purchased.

No validation is performed on this field, so the code you enter here need not be a valid Account Payable supplier (Suppliers).