Defining Components for Fixed Asset Management

This document explains how you define tools for managing the company's fixed assets. This includes creating fixed asset types with connected value types, cost of capital methods, fixed asset groups and locations, and fixed asset types. How to define depreciations is described in a separate document.

Outcome

Fixed asset types matching the company's different types of assets are created.

Tailor-made templates for flexible management of fixed assets are defined.

For further information, see the documentation listed in the See Also section.

Before you start

Follow These Steps

  1. Based on the existing plan for managing fixed assets, you can define the following tools for managing the company's fixed assets:

    • Define Value Types (required)

      Create user-defined names for certain amounts, so-called value types, in 'Fixed Asset Value Type. Open' (FAS060/B). These types are used to keep track of all values needed to follow up on a certain asset.

    • Define Method for Calculating Cost of Capital

      If the company wants to use a method for calculating the internal interest on fixed assets, you define the method in 'Cost of Capital. Open' (FAS090/B).

    • Define Fixed Asset Groups

      For reporting and monitoring purposes you define groups for fixed assets in 'Fixed Asset Group. Open' (FAS080/B).

    • Define Fixed Asset Locations

      Register the location of any fixed asset in 'Fixed Asset. Location' (FAS070/B). Locations are useful for, for example, carrying out a physical inventory.

    • Define Optional Fields for Fixed Asset Entry

      Define up to five user-defined field headings in 'Settings – User-defined FA Fields' (FAS905). The fields are then automatically displayed in 'FA Type. Open' (FAS076/F) and 'Fixed Asset. Connect Depreciation Types' (FAS002).

  2. Define FA Type (required)

    Connect any or all of the components listed above to a fixed asset type in 'FA Type. Open' (FAS075) and enter further optional values.

Related topics