Fixed Assets System Setup

Overview of FA01

In order to begin using DDI’s fixed assets system, you must first have taken certain steps to configure it and prepare it for use. Fixed Assets Setup lays the groundwork for the functionality in the Fixed Asset Entry, depreciation, and reporting functions. It will enable you to do the following things:

• Indicate whether transactions created by fixed-asset acquisition and depreciation should be consolidated in the general ledger
• Set the default depreciation method for new fixed assets
• Indicate if/when the system should automatically purge disposed fixed assets
• Set the minimum fixed-asset value eligible for depreciation
• Custom configure the fixed-asset-number format to match your business’ needs
• Select whether the system should maintain various types of vendors within the Accounts Payable system
• Establish the classes of fixed assets the system will use, including their default lifespan, depreciation method, and the G/L accounts affected by various types of transactions involving the fixed asset
• Identify the locations and rooms that house the fixed assets your business owns

Note: Take special care to complete each of the steps described in the Fixed Assets Setup. Failure to do so could result in the Fixed Assets System lacking critical functionality.

• From the DDI Connect main menu, double-click Fixed Assets
• Double-click Setup
• Double-click Fixed Assets System Setup. You will see this screen:

To make changes on this screen, click the Edit button. The fields now activate:

There are three tabs on this screen.

Base Settings tab

The following fields are available on the Base Settings tab:

Field	Description
Use subclass codes	Select to enable subclass codes in Class Setup. If this box is checked, a second class field is displayed when a new asset is established on the Class Setup screen
Consolidate GL transactions to asset accounts	Select to consolidate all general-ledger activity brought about by fixed-assets transactions involving asset accounts. De-selecting this option indicates that you want such transactions to post individually to the G/L
Consolidate GL transactions to income/expense	Select to consolidate all general-ledger activity brought about by fixed-assets transactions involving income and expense accounts. De-selecting this option indicates that you want such transactions to post individually to the G/L
Consolidate GL transactions to accumulated depreciation	Select to consolidate all general-ledger activity brought about by fixed-assets transactions involving accumulated depreciation accounts. De-selecting this option indicates that you want such transactions to post individually to the G/L
Consolidate GL transactions to cash accounts	Select to consolidate all general-ledger activity brought about by fixed-assets transactions involving cash accounts. De-selecting this option indicates that you want such transactions to post individually to the G/L
Post to GL	Select to post all fixed-assets transactions to the general ledger. If this option is de-selected, fixed-assets transactions are retained in the Fixed Assets system, but the general ledger is not affected
Use fleet	If your organization owns vehicles used by staff, you must select this option in order to utilize the Vehicle tracking for fixed assets
Purge disposed assets after how many years (0=never)	Number of years following disposal that a fixed asset should be purged from the system. Set this value to “0” to disable this feature
Default depreciation method	Method of depreciation to be used by default for new fixed assets. Type the depreciation method code or click the list icon to select from a list of active depreciation method codes in the system
Day of month through which depreciation will be calculated for month of acquisition	During the month of acquisition of a fixed asset, the date on which the system will begin calculating depreciation
Day of month through which depreciation will be calculated for month of disposal	During the month of disposal of a fixed asset, the date on which the system will cease calculating depreciation
Minimum basis (cost) eligible for depreciation	Cost threshold below which the system will not depreciate a fixed asset
Allow changes to depreciated assets	Selecting this option no longer affects the behavior of DDI-Connect Fixed Assets. In order to modify depreciated assets, depreciation transactions must already exist for the fixed asset

Asset Numbers tab

When you click the Asset Numbers tab, you will see the following screen:

The following fields are available on this screen:

Field	Description
Main asset number length	Number of digits or letters, not to exceed eight, in the first segment of the fixed-asset number
Format	Click the drop down arrow to select the format for the main asset number
Separator character	Specify the type of separator character to use, if any, between segments of the fixed-asset number. Entering “B” leaves a space between the two segments, and leaving this field blank places no space or character between them
Sub asset number length	Number of digits or letters, not to exceed eight, in the second segment of the fixed-asset number. Entering “0” disables this portion of the number
Format	Click the drop down arrow to select the format for the sub asset number

At the bottom of the Asset Numbers tab, you will see a Sample. This non-editable field changes dynamically as you modify the fields above, to display a sample of the asset-number format. The sample displayed updates whenever you change a value then tab or click out of the field.

Vendor Info tab

When you click the Vendor Info tab, you will see this screen:

The following fields are available on this screen:

Field	Description
Maintain Fixed Asset vendors in Accounts Payable System	Select if your business wants DDI-Connect to require that fixed-asset vendors be established in Accounts Payable before they can be used in the Fixed Assets system. Otherwise any record set up in FundWriter or Name/Address can be used
Maintain warranty, insurance, and service vendors in Accounts Payable System	Select if your business wants DDI-Connect to require that warranty, insurance, or service vendors be established in Accounts Payable before they can be used in the Fixed Assets system. Otherwise any record set up in FundWriter or Name/Address can be used

When you have finished making your modifications, click Save to retain your changes.