Defining Components for Fixed Asset Management

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

• The company must have a plan for managing fixed assets.
• Verify the starting conditions specific to the listed activities.

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.