Fixed Assets Entry

Overview of FA10/FA10A

After acquiring a new fixed asset, you will record it in the Fixed Assets system. Asset records contain detailed information about the fixed asset: what type of asset it is, its life expectancy, how it will be depreciated, and various other critical details. All this information is retained on the Asset Info tab in the asset record.

There are two basic methods of establishing a new fixed asset: entering it from scratch or copying an existing fixed asset. Copying an existing fixed asset makes sense when it saves you time (if you have four of the same asset, for example). In this case you could add a suffix to the numbers of the duplicate assets to differentiate them.

• From the DDI Connect main menu, double-click Fixed Assets
• Double-click Fixed Assets Entry. You will see a screen similar to this one:

Adding a New Fixed Asset

To add a new fixed asset, click the New button on the toolbar. you will see this question:

To proceed, click Yes. You will now see this screen:

There are multiple tabs on this screen.

Asset Info tab

The Asset Info tab looks like this:

The following fields are available on this screen:

Field	Description
Asset #	Alphanumeric identifier for the fixed asset. The first segment is assigned automatically based on the next
Description	Brief description of the fixed asset
Non capital asset	Example
Asset class	Class of fixed assets with the same basic lifespan, property type, depreciation method, and affecting the general ledger in the same way. Asset classes are maintained in Fixed Assets Class Setup
Memo	Example
Location	Example
Room #	Example
Full Size	Example
Property type	Example
Tag IDs/thru	Example
Serial number	Example
Manufacturer	Example
Model #	Example
Vendor ID	Example
Invoice #	Number of the invoice issued by the vendor for purchase of the fixed asset (if applicable)
Asset acquired new?	Indicates that this fixed asset was new when it was acquired. This can explain why an asset isn’t fully depreciated. If you acquire a used desk, for example, it may only be depreciated for seven years instead of the ten years that it would’ve been if acquired new
Check #	Number of the check issued for purchase of the fixed asset (if applicable)
Purge asset after disposal	Example
Date acquired	Date when the fixed asset was purchased. This field is no longer editable following the initial calculation of depreciation for this fixed asset. Enter the date in mm/dd/yyyy format or click the calendar icon to select the date
Depreciation method	Code indicating how the system should depreciate this fixed asset. While depreciation methods are maintained in FundWriter Setup, they are defined as part of Generally Accepted Accounting Principles (GAAP), and will rarely if ever need to be modified. If there is a need for them to be modified, DDI will make the change so that the system will calculate depreciation in compliance with GAAP. This field is no longer editable following the initial calculation of depreciation for this fixed asset
Original life	Example
Original life yr/mo	Example
Depreciation per month	Dollar amount to be deducted each month from the book value of the fixed asset for depreciation. Prior to the initial calculation of depreciation for this item, this field displays “0.00”. Following the initial depreciation, the value in this field is calculated automatically based on the asset’s lifespan, cost, and depreciation method. This field is non-editable
Depreciation begin	Date on which depreciation of this fixed asset begins. This field is no longer editable following the initial calculation of depreciation for this fixed asset. Enter the date in mm/dd/yyyy format or click the calendar icon to select the date
Depreciation end	Date on which depreciation of this fixed asset ends. This date is calculated, and is only editable by changing the values in the Original life – Yr, Original life – Mo, or Depreciation begin fields
Cost	Cost or base value of the fixed asset. This field is no longer editable following the initial calculation of depreciation for this fixed asset
Salvage value	Example
Accum. depreciation	Total depreciation calculated on the fixed asset. This field is no longer editable following the initial calculation of depreciation for this fixed asset
YTD Depreciation	Example
Last depr date	The date as of which the last depreciation was calculated. If, for example, your business calculated depreciation most recently on 2/28/05 for asset A, but only ran the depreciation program through 12/31/04, this field would contain the date 12/31/04. This field is no longer editable following the initial calculation of depreciation for this fixed asset
Book value	The basis of the fixed asset minus life-to-date depreciation. This field is no longer editable following the initial calculation of depreciation for this fixed asset
Remaining life yr/mo	Example
Sale price	Example
Disposal date	Date when the fixed asset was disposed of, if applicable. Displayed with a red background for emphasis. This information is derived from the Dispose tab and is not editable