This document describes how to update a fixed asset with costs recorded against a specific project. The fixed asset can be under construction or can be an existing one. You can repeat this procedure several times for the same fixed asset; only new project transactions will update the fixed asset.
The fixed asset is updated with an acquisition cost equal to the incurred project costs. If the fixed asset did not have an acquisition cost before, a depreciation plan is created. If the fixed asset did have a previous acquisition cost and, consequently, a depreciation plan, this plan is adjusted based on the new acquisition cost. An accounting journal is printed.
The updated depreciation plan will be applied when you update the general ledger by running 'FA Depreciation. Create Account Entries' (FAS100).
The tables for fixed asset value types, FFAVAL, and depreciation plans, FFAHIS, are updated. The general ledger is updated with the following account entries:
|–||Fixed asset under construction||x|
|FA70-550||Movements – acquisition cost||x|
Update Fixed Asset
If the fixed asset is not registered already, start 'Fixed Asset. Open' (FAS001) and register a new fixed asset. The only required values are fixed asset ID, subnumber, status 1 ='Normal FA', fixed asset type, acquisition date and activation date.
You can register a new fixed asset instead during the update in step 6 by pressing F4 twice in the fixed asset ID field in 'Fixed Asset. Activate under Construction' (FAS160/F). (FAS001/B) is then displayed.
Start 'Fixed Asset. Activate under Construction' (FAS160/A).
Enter the project ID, the date up to which project transactions are selected, and a range of accounts for fixed assets under construction. Press Enter.
On the B panel, where the project transactions are displayed, select the Hold option for any transactions to exclude.
Blocked transactions receive status 3 on the B panel. If you blocked a transaction by mistake, release it by selecting the Release option instead.
Start the update of the fixed asset by pressing F14 = 'Activate' on the B panel.
On the F panel, enter the fixed asset ID, subnumber and the accounting date. Press Enter to display the proposed accounting string, based on accounting rule FA70-550, for the offsetting account entry.
If necessary, adjust the accounting string. Enter a voucher name and press Enter.
If the G panel is displayed presenting the purchase price and the acquisition price based on the selected project transactions, press Enter again.
Verify in 'Fixed Asset. Connect Value Types' (FAS003) that the value type reserved for the acquisition cost and the value type for additional costs – as selected in 'Settings – Fixed Asset Acquisition' (FAS900)– are updated. If the project transactions were recorded using a supplier invoice, the value type for invoice amount should also be updated.
(FAS003) is accessed by selecting option 12 = 'FA values' for the fixed asset in (FAS001/B).
Review the updated depreciation plan in 'Fixed Asset. Depreciate' (FAS010).
(FAS010) is accessed by first selecting option 11 = 'Depreciation types" for the fixed asset in 'Fixed Asset. Open' (FAS001/B) and then option 11 = 'Depreciation plan' for the applicable depreciation type in 'Fixed Asset. Connect Depreciation Types' (FAS002/B).