Exact Financials (v3)

Fixed Assets Manual - Creating asset groups

Creating asset groups

Assets are registered at three levels. An assets group is the top level and needs to be created first. The assets need to be divided into groups, such as cars, buildings, plant and machinery. The asset group data applies to all the assets that belong to the same asset group. If the asset application is linked to a general ledger, the financial data is recorded per asset group. This means that general ledger accounts need to be created for each group of assets in the financial accounting system. See Assets accounting system.

Maintain assets groups in: [Master data, Maintenance, Assets, Asset groups]

In general the grouping of assets in general asset accounts has to be done consistently. Each general ledger account must include only assets that:

• have the same applicable depreciation method
  
  
• have the same estimated life
  
  
• have the same applicable convention
  
  
• are put into operation by the tax payer in the same tax year and therefore have the same depreciation behavior.
  
  
• are depreciated in the same way following local regulations.

In some countries, the rules are less strict when establishing general asset accounts in the financial accounting system.

Assets are grouped in asset sets created in [Master data, Maintenance, Assets, Asset sets] before they are grouped in an sset group.

Finance Manual C/S > Contents > Working with fixed assets > Creating asset groups