Fixed Assets

You can use Fixed Assets to manage the fixed assets in your company.

You can perform the following tasks:

  • Enter and track data for the property, plant, and equipment used by your organization.
  • Enter and capitalize assets, depreciate assets in multiple books, transfer assets within or between companies, and dispose of assets at the end of their life cycle.
  • Maintain periods and years of historical asset data through period-end processing.
  • Track data to the original document using powerful inquiries within products and across subsystems.
  • Use the reporting capabilities supplied with LN.

The results of financial depreciation and revaluation are posted to the General Ledger.

  • Using assets

    Fixed assets include property, buildings, and equipment that are expected to reduce your company's costs or increase its income. In Fixed Assets, you record data of the company owned fixed assets. You record asset data to track the assets your company and to record transactions for the assets.

  • Cost Percentage Depreciation Method

    This option can also be used to calculate depreciation amounts.

  • Business Partner Distribution in Journal Vouchers

    User can view for each asset, asset book, location, and business partner the amounts that are applicable for the cost, accumulated depreciation, revaluation cost, and revaluation accumulated depreciation.

  • Business Partner Distribution in Journal Vouchers

    Some organizations are required to report all the financial transactions for each business partner, if applicable. This also includes the transactions that are created by the fixed assets processes.

    Several invoices for different business partners can result in adding cost to one fixed asset. In this scenario, each transaction must be divided proportionally to the cost amount for each business partner. This distribution for each business partner is now stored for each fixed asset. When the fixed assets are capitalized, depreciated, adjusted, or processed, for each process the transactions are created with a distribution by business partner.

  • Enhancements in distribution by Business Partner

    Enhancements have been made to the fixed assets functionality which enables the reconciliation of the general ledger with the fixed assets sub ledger by establishing a GL account/dimension mapping based on the Business Partner. For this reason, a new Integration Element code for all the fixed assets related IDT's is added. The ability to dispose assets for a certain Business Partner is also supported.

  • Extra Options for Depreciation Calculation

    These extra options are added to calculate depreciation amounts:
    • Calculate depreciation based on a percentage of the current cost;
    • Include the cost adjustments based on the depreciation calculation from the next period onwards;
    • Include only the salvage value for the last period of depreciation.

  • Investment without Payment Discount and Late Payment Surcharge

    The ability to choose if Payment Discounts, Late Payment Surcharges and/or Payment Differences should be added to the investment amount of the asset. Three new fixed asset parameters have been added to support this.

  • Collective Asset

    The ability to indicate if an Asset is used as a collective asset. If this is selected, all adjustments for the asset are automatically registered per in-service date.

  • Navigation List View in Assets

    The new user interface with a navigation list on the left and details view on the right has been implemented in the Fixed Asset session.

  • Change Fixed Asset Group

    Employees enter many transactions into the system. If mistakes are made, in most cases, these mistakes can be easily corrected. But, if an erroneous asset group, category and subcategory are assigned to a fixed asset, or an erroneous in-service date is specified and the asset has been capitalized, corrections are not easily achieved. This may result into a new asset code or extension and sometimes unwanted depreciation transactions.

  • Fixed asset group

    New functionality is available to reverse incorrect entries and to automatically generate correct entries with the correct amounts.

    The Adjust Assets (tffam8220m000) session includes these changes:
    • New fields have been introduced to change the Fixed Asset Group, Category, Subcategory, and In-Service Date. These changes do not require a new asset code or extension.
    • A reason code must be provided by the user to indicate why a change is made.

    For assets for which depreciation is not calculated and posted, changing the asset group, asset category, sub category, or in service date does not result into depreciation transactions for the old asset group.

    For assets for which depreciation is already calculated and posted, changing the asset group, asset category, sub category, or in service date results into reversal transactions of the already posted depreciation amounts. The correct depreciation transactions are created up to the last depreciation date of the asset.

    To track the new adjustment options, the Adjustment – Details (tfgld8520s000) session has been changed to accommodate the changes in category, subcategory, group and in-service date.

    In the Print Invested Capital Overview (tffam8478m000) session, the reports have been changed to reflect the changes in asset category, subcategory and group. This is also applicable for the Print Net Book Value Detail Reconciliation (tffam8477m000) session.

  • Home currency amounts in fixed asset invoice list

    In the Print Asset Invoice History (tffam1431m000) session, amounts can now be printed also in the home currency.