Set Up Fixed Assets Module

Access this form with Administrative user rights using Organization>Set Up Modules>Fixed Assets.

Use this form to set up default information for the Fixed Assets module. You must select the Frequency of depreciation and the Gain/Loss GL Account. Additionally, you can select a Default Asset Type and Default Category that displays when you are creating an asset (Maintain>Fixed Assets>Assets; Transactions>Enter Cash Disbursements> Asset Quick Entry; Transactions>Accounts Payable>Enter A/P Invoices> Asset Quick Entry; or Activities>Purchase Orders>Create/Modify Purchase Orders> Asset Quick Entry) and category. There are two options available for the Asset Quick Entry, to Include Life and to enable without cost and General Ledger Account validating.

Defaults

• Frequency: Select a depreciation frequency of M (Monthly), Q (Quarterly), or Y (Yearly) from the drop-down list. The frequency is defined by the organization, not the asset. Therefore, after you set a frequency, it applies to every asset in the current organization. This box is not available after a depreciation or a disposal has been calculated, or once depreciation has been transferred and posted.
• Gain/Loss GL Acct: Select a general ledger revenue or expense account from the drop-down list. You must have previously created at least one account to select it in this drop-down list (Maintain>Chart of Accounts Codes).
• Default Asset Type: Select an asset type that serves as the default on the Maintain>Fixed Assets>Assets form, the Transactions>Enter Cash Disbursements>Asset Quick Entry form, Transactions>Accounts Payable>Enter A/P Invoices>Asset Quick Entry form, and Activities>Purchase Orders>Create/Modify Purchase Orders> Asset Quick Entry form in the system. You must have first set up these asset types using the Maintain>Fixed Assets>Asset Types form.
• Default Category: Select a category that serves as the default on the Maintain>Fixed Assets>Assets form, the Transactions>Enter Cash Disbursements>Asset Quick Entry form, Transactions>Accounts Payable>Enter A/P Invoices>Asset Quick Entry form, and Activities>Purchase Orders>Create/Modify Purchase Orders> Asset Quick Entry form in the system. You must have first set up these categories using the Maintain>Fixed Assets>Assets form.

Asset Quick Entry Options

• Include Life: Select this check box if you want to include the Life column (to enter the useful life of an asset) on the Transactions>Enter Cash Disbursements>Asset Quick Entry form, Transactions>Accounts Payable>Enter A/P Invoices>Asset Quick Entry form, or Activities>Purchase Orders>Create/Modify Purchase Orders> Asset Quick Entry form in the system.
• Enable Without Validating: Select this check box if you want to turn off the validations which assure the cost associated with the asset ties to the Transaction Entry document and that the transaction is booked to a fixed asset (FAO) type account.