Exact Financials

Maintain: Settings (Fixed assets)

[Assets: File, Asset settings, General]

General tab

Journal number: Sales

You can define a journal that you want to use as a default when you sell an asset. The journal can always be changed when you are selling the asset.

Journal number: Depreciation

You can define a journal in which the primary entries have to be created. You can only select a general journal. Consider creating a separate 'Depreciation' journal for this purpose. You can change the journal during depreciation.

Revaluation entries

You can select one of the following options:

• {Use fixed year/period} - Select this if you want the revaluation entries to be recorded in a year and period defined when the revaluation of an asset is performed.
• {Use period/date table} - Select this if you want the revaluation entries to be recorded in the period specified in the period/date table.

Register depreciations per period

By selecting this check box, a depreciation transaction is generated in each period of the calendar linked to the posting book and written to Exact Finance. The depreciation costs are allocated in this situation to the depreciated periods of the posting book. If you do not use this option, the depreciation costs are not allocated over the financial periods. If you depreciate an asset once for the months January until June (given a twelve monthly calendar), one financial transaction will be made, containing the total depreciation amount of these six periods.

Asset tab

User is mandatory

By selecting this check box, you will need to define the owner of the asset when creating an asset.

Department is mandatory

By selecting this check box, you will need to define a department that the asset belongs to when creating an asset.

Location is mandatory

By selecting this check box, you will need to define a location of the asset when creating an asset.

Manually update amount first depreciation

By selecting this check box, you can enter the first amount of depreciation that differs from the amount calculated by using the depreciation formula. In this case, only the first period of the asset will follow the depreciation amount that you have entered. The other periods will be calculated according to the defined formula.

Financial links tab

Purchase entry mandatory

By selecting this check box, you can only create new assets when you make an entry for that new asset in the purchase journal in Exact Finance. If you do not select this check box, you can also create assets in [Assets: Master data, Maintenance, Assets, Assets].

Compress: Depreciation entries

You can compress the depreciation entries by selecting one of the following options:

• Asset group - Depreciation entries are compressed according to the asset groups.
• Asset set - Depreciation entries are compressed according to the asset sets.
• G/L account - Depreciation entries are compressed according to the G/L accounts.
• No compression - No compression will be done.

Create entry for manually converted assets

By selecting this check box, financial transactions will be made for the converted asset when it.is activated.

Fixed Assets Manual > Contents > Defining general settings for Exact Fixed Assets > [Assets: File, Asset settings, General]