This module allows you to record all types of assets, such as minor assets, tangible/intangible assets, and long-term/short-term assets. You can also view and print a fixed asset card with an overview of how the asset was depreciated — both for accounting and tax purposes — in each individual year.
Note: Leased assets can also be recorded — for the lease type, you enter the basic lease parameters, and in the Leasing form you create a lease schedule and a list of tax expenses. The system then generates Other Liabilities in the Accounting module for the current accounting period. When the period is closed, liabilities are generated for the next accounting period.
Fixed, minor, and non-depreciable assets:
The module maintains records of minor, tangible, and intangible fixed assets as well as leased assets, and handles their depreciation in accordance with applicable legislation. Fixed assets are further referred to by the abbreviation FA.
The module supports FA depreciation calculation in two modes:
Accounting (economic) depreciation: You choose the depreciation amount based on your own needs and experience. For accounting depreciation, you can calculate both annual and monthly amounts. Accounting depreciation can be posted to the accounts monthly, every two months, quarterly, semi-annually, or annually. Depreciation should reflect the actual situation in your company. You can set a different accounting depreciation amount for each year.
Tax depreciation: Tax depreciation is determined by the depreciation group to which the FA is assigned. You can find an overview of these groups in the Depreciation Groups feature.
A depreciation schedule is maintained for each asset for the entire depreciation period. This feature allows you to view and print an FA card with an overview of how the FA was depreciated — both for accounting and tax purposes — in each individual year.
Leased assets:
The module also maintains records of leased assets. For the lease type, you enter the basic lease parameters, and in the Leasing list you create a lease schedule and a list of tax expenses. Once the lease schedule is defined, the system generates other liabilities in the accounting module for the current accounting period. When the period is closed, liabilities are generated for the next accounting period.