Setting up the Asset Register

The Fixed Asset Register processing environment is determined in Business Unit Setup and Ledger Setup (LES) settings. These determine the multicurrency environment and posting rules, the current period, maximum number of periods, and so on.

The following Ledger Setup (LES) options apply specifically to the asset register and allow you to set overall processing rules to the register, and control transaction sequencing.

  1. Select Ledger Setup (LES) from the main SunSystems menu.
  2. Specify this information in the General section:
    Timing Rule Code

    This is the depreciation timing rule to be used for assets in the asset register. Depreciation timing rules allow you to apportion the depreciation calculated by Depreciation Calculation (FDC), across the accounting periods in the year by a predetermined ratio. If a timing rule is not set, the annual depreciation is divided evenly over the number of periods in the year as specified in the Maximum Number Periods field in Business Unit Setup.

    Exclude Final Value from Calculation

    If this option is chosen, by default the final value of an asset is excluded from the depreciation calculations. This can be overridden on particular assets.

    Assets in Second Base/Reporting Currency

    If this option is chosen, asset values are held in both base currency and second base/reporting currency. This can be set for particular assets using the Reporting Conversion Control setting in Asset Records (FAS).

    Note:  If the Value 3 Currency Type in Business Unit Setup is defined as Second Base Currency, then a Value 3 amount must always be present.
    Use Asset Quantity

    If this option is chosen, asset quantities can be recorded when making fixed asset postings to the ledger.

  3. Specify this information in the Sequence Dimensions section:

    The Sequence Dimension details are required if you want to generate and assign sequence numbers to transactions automatically.

    Asset Disposal

    This is the sequence number code, defined in Ledger Sequences (LEQ), of the number sequence you want to apply to system journals generated by Asset Disposal. A '-' hyphen indicates that you do not want to apply a sequence number to these system generated journals. Two full stops (periods) '..' indicates that you want to copy the sequence number from the original source transaction.

    Depreciation Calculation

    This is the sequence number code, defined in Ledger Sequences (LEQ), of the number sequence you want to apply to system journals generated by Depreciation Calculation. A '-' hyphen indicates that you do not want to apply a sequence number to these system generated journals. Two full stops (periods) '..' indicates that you want to copy the sequence number from the original source transaction.

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