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Exact Globe   
 

Release 380: New Transaction type introduce to Fixed Asset

Background

Background
 

In Exact Globe, regardless of whether the fixed asset is depreciated normally up to the expiry of an asset useful life (i.e. via Assets/Entries/Process - Process button) or the asset has been written off (i.e. via Assets/Assets/Maintain - Write-off button), the status displayed as Depreciated.

 

What has been changed

In this implementation, a new appropriate term written-off asset created to classify an asset has been written off by way of sale or to scrap. Where common term depreciated asset use for fully depreciated asset.

 To support the new status Written Off for ALL legislation on the following adjustments implemented:

1.    Written off status checkbox added in status filter in the menu path as follow:

  • Assets/Assets/Maintain Assets

  • Assets/Assets/List

  • Assets/Assets/Cards

  • Assets/Reports/Balance list

  • Assets/Reports/Parents

  • Assets/Reports/Items

  • Assets/Statistics/Investments

    

2.    Written off and Disposal status added in the reports listed below:

  • Assets/Reports/Balance list

  • Assets/Reports/Parents

  • Assets/Reports/Items

  • Assets/Statistics/Investments

  • Assets/Assets/List

  • Assets/Assets/Asset Year End Total

 

3.    Written Off for Asset:

The status of an asset updated to Written Off when P&L checkbox checked during the write-off process.

 

Note: The asset with write off status is NOT reversible.

 

4.    Additional changes for Russian legislation ONLY listed below:

  • Changes in Asset groups
     Add in two new fields Write off (B/S) and Write off (P&L) in Asset groups to handle write off accounts.
     

  • Changes in existing Write Off screen
         Rename the P&L to P&L, B/S in Write off screen.
    Remove user defined P&L General ledger account column in Write off screen. The P&L General ledger account using the Write off (P&L) defined under asset group.


Example on how this functionality works:
1.    Written off status checkbox added into the status filter in the affected menu path as follow:

Menu path Assets/Assets/Maintain

Menu path Assets/Assets/List

Menu path Assets/Assets/Cards

Menu path Assets/Reports/Balance list

Menu path Assets/Reports/Parents

Menu path Assets/Reports/Items

Menu path Assets/Statistics/Investments



2.    Written off and Disposal status added in the reports listed below:

Go to menu path Assets/Assets/List, click on Start button new column Written off and Disposals added in the report as below:


Go to menu path Assets/Statistics/Investments, click on Start button Written off status show in the report as below:
Go to menu path Assets/Reports/Balance List, click the Export button new column Written off and Disposals added in the report as below:


Go to menu path Assets/Reports/Balance List, click the Display button new column Written off and Disposals added in the report as below:




Go to menu path Assets/Reports/Asset Year End Total, click on Start button new column Written off and Disposals added in the report as below:



Go to menu path Assets/Reports/Parents, click on Start button new column Written off and Disposals added in the report as below



Go to menu path Assets/Reports/Items, click on Start button new column Written off and Disposals added in the report as below
3. Written Off for Asset:
The status of an asset updated to Written Off when P&L checkbox is checked during the write-off process.
Create one new asset (via menu path Assets/Assets/Maintains) shown as below:




Select asset create above, click the Write-off button.



Write off screen prompt as below. User have to specify a P&L General ledger account to Write off asset.



Click the OK button, Asset status set to write off. In asset maintain list, notice the Asset status have change to Write off. Select the Write off asset, the Calculate button and Write off button disable.




Click Open button when select Asset - Car04, the status change to write off in the Asset maintain screen.

 

Note: The asset with write off status is NOT reversible.


4. Additional changes for Russian legislation ONLY listed below:

Changes in Asset groups
Menu path Assets/Assets/Asset groups, additional write off accounts section added. Two new column Write off (B/S) and Write off (P&L) use to store write off account as below:




Changes in existing Write Off screen

Select one active asset in asset maintain, click the Write off button. New write off screen prompt as below. The P&L checkbox have rename as P&L, B/S checkbox and P&L column have remove as for Russian Federation legislation requirement. General ledger account is pre-defined at the Asset group. click on the OK button, the Asset B/S and Depreciation B/S will be reversed from the original entries and booked in the GL account entries as pre-selected by user.

     
 Main Category: Support Product Know How  Document Type: Release notes detail
 Category: Release Notes  Security  level: All - 0
 Sub category: Details  Document ID: 15.208.862
 Assortment: Exact Globe  Date: 10-05-2017
 Release: 380  Attachment:
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