Contents of the Configure Fixed Assets Settings Screen
Use the fields and options to configure the Configure Fixed Assets Settings screen.
There are three result sets on this screen:
- The first result set contains data from the FA_SETTINGS table and consists of the first six blocks on the screen, as follows:
- Automatic Numbering for Asset Master Records
- Default Gain/Loss Account for GL Book
- Default template for Asset master
- System-Wide Configuration for Depreciation Calculations
- System-Wide Configuration for DP Basis for Depreciation Methods
- Books Setup
- The second result set contains the Books Detail block, for which the data is stored in the FA_BOOK_SETTINGS table.
- The third result set contains the Corporate FA Settings block, for which the data is stored in the FA_SETTINGS_CORP table.
Some fields on this screen (such as the number of optional books you want to use in addition to the G/L book), are required before you can begin data entry. Other fields are optional, and you can use them to specify default data and system configuration options.
Control information is especially critical in these fields:
- Books Setup [additional book number(s) and names(s)]
- Length of Asset Number field
- System-Wide Configuration for Depreciation Calculations group box
- System-Wide Configuration for DP Basis Depreciation Methods group box
Because these critical fields establish your system configuration for depreciation calculation rules and on many data entry screens, make certain that you first read the documentation for these fields before you finalize your selections.
Decide on your configuration options carefully during your initialization planning. In most cases, once you have selected the configuration and have begun depreciating in the system, you cannot change your selection without extensively editing the asset data.
All other fields on this screen are company-specific and will be available for use only by your company of login. If you have set up multiple companies in Costpoint, you can enter data in these fields for each company only by using the separate company login for each. You cannot view, enter, edit, or use the data from this screen for any company other than your company of login.
Set up this screen as one of the first steps in the initialization process, before you enter Asset Master record and/or Asset Template data.
Although you can optionally set up as many as nine additional books for use at any time, once you have assigned a Depr Mthd Code to an optional book, you will not be able to delete that book on this screen until the Depr Mthd Code and other data for that book is also deleted in the Other Books Info subtask of the Manage Asset Master Information screen (or on the Manage Asset Other Books Information screen) and in the Other Books Info subtask of the Manage Asset Template Information screen.
Automatic Numbering for Asset Master Records
| Field | Description | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Enable automatic numbering for Asset Master records |
Select this check box if:
Warning: Even if you do not want to enable automatic numbering for manually-added Asset Master records, make sure that you select this check box before you use the optional autocreation or asset import functionality. Specifically, you should select this check box and enter data in the
Last Asset Number field before you run the Create Autocreation Transactions process and/or the Import Asset Records process.
The purpose for activating these fields is to provide the starting point for system-generated asset numbers and to provide a system reference in the event you have specified the use of the tag number as the asset number on the Configure Default Autocreation Asset Numbering screen and the asset number is missing on one or more records. You can clear this check box as soon as you run the Create Autocreation Transactions and/or Import Asset Records processes if you do not want automatic numbering enabled for manually added records. For manually-added records, the system numbers each new Asset Master record with the first available asset number that is greater by one than the number specified in the Last Asset Number field on this screen. For autocreated assets, the system first counts the number of rows that will be added to the Manage Autocreation Transactions screen as a result of running the Create Autocreation Transactions process. The system then refers to the entry in the Last Asset Number field, increments it by one, and reserves and assigns a block of numbers equal to the number of new rows beginning with the last number plus 1 (from that number forward). The system does not assign previously unused numbers that occur in the sequence before the determined asset numbering starting point. For the import of asset records where one or more records do not contain both the Asset ID and Item No, the system first counts the number of records that do not contain both an Asset ID and an Item No. The system then increments the current value in the Last Asset Number field by one, and reserves and assigns a block of numbers equal to the number of records that do not contain both the Asset ID and Item No beginning with the last number plus 1. The system will always automatically assign asset numbers within the bounds of your specified asset number field length. If you enable this feature, you must also enter data in the Last Asset Number field. If you originally enabled this feature and then you clear this check box, a warning message displays before the system clears the Last Asset Number field. Note: If you change the length of the asset number in the Corporate FA Settings block (which can be done only before the first Asset Master record is saved), the system will automatically clear this check box and will clear the value in the
Last Asset Number field.
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| Asset Numbering Examples |
Although alphabetic characters are not recommended in your asset numbers, the following examples illustrate a sample of the resulting numeric ranges available using different formats for asset numbering:
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| Last Asset Number |
Consistent with the value in the Length of Asset Number field, enter the last asset number used (or ending number) in this field to specify a number at which to begin automatic numbering. For new users, if your asset number length is 7, for example, and you want automatic numbering to begin at "1", you should enter "0000000" in this field to create a starting asset number of "0000001". Because the asset number, along with the item number, is the key identifier for an asset record and cannot be changed after it is saved, you need to carefully consider your numbering options before you enter your first record. The system uses the value in this field to number new Asset Master records, as follows:
For the import of asset records where one or more records do not contain both the Asset ID and Item No, the system first counts the number of records that do not contain both an Asset ID and an Item No. The system then increments the current value in the Last Asset Number field by one, and reserves and assigns a block of numbers equal to the number of records that do not contain both the Asset ID and Item No beginning with the last number plus 1. For your historical records, you may have embedded an alphabetic character in your asset number, such as "E0045," to signify that the record belonged to an "Equipment" category. Although there is no system constraint that prevents the use of alphabetic characters in the asset number, you should find that it is no longer necessary to "muddy" up your numbering with descriptive coding. There are many standard and user-defined fields already in place in which to enter this type of descriptive data. The system will not automatically increment alphabetic characters during auto-numbering. If one or more alphabetic characters have been used in numbering historical assets and you want to continue the same numbering sequence, make certain that there are at least three numeric components in the sequence (or more if you have greater than 999 assets). We discourage alphabetic characters in the asset identifier only because you will find it more cumbersome. During automatic number assignment, Costpoint increments the right-most numeric portion of the asset number. If alphabetic characters are used during manual numbering, the system does not automatically insert the leading zeroes. Note: If you change the length of the asset number in the Corporate FA Settings block (which can be done only before the first Asset Master record is saved), the system will automatically clear the value in this field and clear the
Enable Automatic Numbering for Asset Master Records check box and will clear the value in the
Last Asset Number field.
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Default Gain/Loss Account for GL Book
Use the optional fields in this block to optionally specify a default gain/loss AOP combination (Account/Organization/Project/Reference 1/Reference 2 fields, as applicable) from your Chart of Accounts for use in accounting for property disposals.
AOP data from these fields will automatically display as defaults on the Manage Disposal Transactions screen (Accounting\Fixed Assets\Fixed Asset Processing), and should represent the account/org/project to which you want to post any gain/loss amount resulting from a disposal. You can overwrite these defaults in the disposal transactions screens, as desired.
If you have several gain/loss combinations, you may prefer to designate no default data in these fields to minimize the possibility of errors.
You can change this data at any time. The system will display the default from this field at the time of the initial disposal transaction, where it can be edited as desired.
| Field | Description |
|---|---|
| Account |
Enter, or click
Upon saving, the system will validate that the account is a detail account and that it is active. The system will also validate that the account is valid for the organization and, if project-required, also valid for the project. |
| Organization |
Enter, or click
Upon saving, the system will validate that the organization is active and that it is valid for use with the account. If the organization is restricted to specific projects, the system will also validate the organization-project relationship. |
| Project |
Enter, or click
Upon saving, the system will validate that the project level is valid and active and may perform additional validations (such as checking that the account-organization combination linked with the project is valid). |
| Reference 1 |
Enter, or click
Note: The field Reference 1 may display a different label if it has been changed on the Configure General Ledger Settings screen. For example, AC 1.
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| Reference 2 |
Enter, or click
Note: The field Reference 2 may display a different label if it has been changed on the Configure General Ledger Settings screen. For example, AC 2.
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to select, an account for the gain/loss AOP combination.
Default Template for Asset Master
Use the optional fields in this block to specify one default Asset Template for use with your Asset Master records, as desired.
The optional Asset Template feature can be used to establish "standard" default data for property that shares common characteristics of descriptive, purchase, location, account, book, and government data that can be "imported" automatically into the desired Asset Master record(s). The end result is a reduction in the amount of repetitive data entry required for asset records that share mutual attributes.
Another important advantage in using the Asset Template functionality lies in the ability to incorporate consistent descriptions and data across property records, thus enhancing the quality of tracking and reporting functions within the system.
If you have specified a default template on this screen, you can blank these fields or change the defaults at any time.
For additional information regarding template functionality, please refer to the documentation for the Template No and Rev No fields in Asset Master records.
| Field | Description |
|---|---|
| Template No |
Enter, or click
This field, together with the Rev No field (as applicable), supplies the unique identifier for the Asset Template record. A revision number is not required as part of the Template record identifier, but simply allows you to record subsequent revisions to an original template (as well as allowing you to retain each earlier template version.) This field is optional, and can remain blank if you do not use the template functionality or if you do not want to designate a default template. |
| Rev No |
Enter, or click
This field, as applicable, together with the Template No field, supplies the unique identifier for the template record. A revision number is not required when you set up an Asset Template. If, however, you have set up a template number with an associated revision number, you must enter the revision number in this field. The primary purpose of a revision number is to enable you to retain the data from each successive template change, if desired. This field is optional and can remain blank if you do not use the template functionality or if you do not want to designate a default template. Even if you designate a default template, this field may be blank if a revision number was not assigned as part of the identifier for the template number. |
System-Wide Configuration for Depreciation Calculations
Use the options in this block to designate how the system should distribute "catch-up" depreciation.
"Catch-up" capability ensures that the correct amount of any delayed current year depreciation (purchase year or fiscal year) will be computed for the current depreciation year. A "catch-up" situation could occur, for example, if the acquisition of an asset was communicated after-the-fact, if there was a delay in computing depreciation after acquisition, or if changes were made to fields used to calculate depreciation (such as Cost) after depreciation for that asset had already begun.
You can change your selection at any time. Regardless of your selection, the system will compute the same amount of annual depreciation. The options in this block only set the configuration on how to spread the "catch-up" depreciation and its effect on the value in the Current Pd Depreciation field.
"Catch-up" depreciation calculations in the current depreciation year (PY or FY) will correctly compute the current depreciation amount on a "catch-up" basis in the current accounting period, based on the date entered in the Depr Start Date field in Asset Master records.
The system will not automatically change the value in the Days/Pds Remaining field on a "catch up" basis during the Fixed Assets Period Close Process. Make certain that you have correctly initialized this field. (You can run the Compute/Update Depreciation Computation Data utility to help you identify any inconsistencies of this nature.)
If you have assigned a Date of Purchase basis to one or more depreciation methods on the Manage Depreciation Methods screen and you have also selected the Added to current period amount radio button option on this screen, the system will display a soft warning message prior to computing depreciation.
You should set up the Fiscal Year/Period data on a one-time basis for each year specified in the depreciation start date assigned to your Asset Master records, for which there is remaining book value for depreciation computation reasons. Note that for certain reports, such as the Schedule of Asset Activity Report and the Schedule of Accumulated Depr Activity Report, historical years and periods should be set up for each year specified in the depreciation start date assigned to all Asset Master records that should be on the reports.
Make sure that you insert the earlier fiscal years into the Manage Fixed Assets Fiscal Years screen instead of using the New Line function.
If you do not want to add historical fiscal year and period data on the Manage Fixed Assets Fiscal Years and Manage Fixed Assets Accounting Periods screens to support the computation of depreciation catchup added to the current period, you can select the Spread among remaining periods in PY or FY option. This option spreads missed depreciation for prior periods among the remaining periods in the current purchase year or fiscal year.
| Field | Description | |
|---|---|---|
| Depreciation 'Catch-Up' calculation for prior periods in current depreciation year (PY or FY) should be | Spread among remaining periods in PY or FY |
Select this option to spread the amount of "catch-up" depreciation evenly throughout the remaining periods in the current purchase year or fiscal year, as applicable. If you choose this option, the system divides the amount of catch-up depreciation by the number of periods remaining in the depreciation year and includes this amount in each period's depreciation. Catch-up depreciation is not "extra" depreciation. At the end of the current depreciation year, the total amount of depreciation will be correct for the current depreciation year (provided that you entered the correct depreciation start date for the asset. |
| Added to current period amount |
Select this option to include the total amount of catch-up depreciation in the depreciation for the current period, regardless of Date of Purchase (DP) or Fiscal Year (FY) basis. Catch-up depreciation is not "extra" depreciation. At the end of the current depreciation year, the total amount of depreciation will be correct for the current depreciation year, provided you entered the correct depreciation start date for the asset. |
System-Wide Configuration for DP Basis Depreciation Methods
The two options in this block apply only to assets for which the Date of Purchase depreciation basis is used.
Use these options to compute depreciation for the current period, based on how many days are actually in the purchase year (1 to 366) or simply based on the number of periods in the purchase year (1 to 18).
Once you have selected the configuration and have begun depreciating in the system, you cannot change your selection without performing extensive edits to the asset data.
If you switch between days and periods methodology for Date of Purchase basis assets, you must individually edit each DP asset to correct the Days/Pds Remaining field for any applicable book
| Field | Description | |
|---|---|---|
| Compute current period depreciation based on | Actual number of days 'Owned' |
Very few users select this option, as it requires additional administrative time to initialize records and maintain the data at this level. Select this option to compute depreciation for the current period based on the actual number of days the asset was owned for each period. The amount of depreciation for each period may therefore vary, although the total amount of annual depreciation remains the same. If you select this option, the system counts the number of days within each period. (The first purchase year is determined by adding 365, or 366 in a leap year, to the depreciation start date. The start date plus 365 or 366 is the purchase year-end date. The second depreciation year is derived by adding 365 or 366 to this date, and so on.) When you compute depreciation for the asset, the system divides the number of days in the period by 365 (or 366 in a leap year) and multiplies this value by the total amount of depreciation for the year. If the end of the purchase year falls between the end dates of two periods, the system calculates depreciation for the exact number of days left for the purchase year, and then calculates depreciation for the exact number of days belonging to the first period in the next purchase year (determined by the period end date). The total of these two amounts equals the depreciation for the first period in the next depreciation year. |
| Detailed Calculations |
These calculations are detailed below: Total depreciation for depreciation year (DP Basis): $12,000 Period 1 = 20 days Period 2 = 31 days Period 3 = 28 days Period 4 = 30 days Period 5...and so on. Days still left in Purchase Year 1 after last period end date = 10 Days till end of first period in Year 2 = 20 Depreciation for Period 1 = 20/365 x 12,000 = $657.53 Depreciation for Period 2 = 31/365 x 12,000 = $1019.18 Depreciation for Period 3 = 28/365 x 12,000 = $920.55 Depreciation for Period 4 = 30/365 x 12,000 = $986.30 Depreciation for Period 5...and so on. Depreciation for days at end of Purchase Year =10/365 x 12,000 = $328.77 Depreciation for days till end of first period in Year 2 = 20/365 x 12,000 = $657.53 Depreciation for Period 1, Year 2 = $986.30 The system adjusts for any rounding differences in the last period of the purchase year. |
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| Number of periods in purchase year |
The majority of users use this option. Select this option to compute current period depreciation based on the number of periods in the purchase year. Note: You must initialize both the Manage Fixed Assets Fiscal Years and Manage Fixed Assets Accounting Periods screens before you compute depreciation for the first time because you are required to enter the number of purchase periods (Pds in DP Year field) in each fiscal year on the Manage Fixed Assets Fiscal Years screen.
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Books Setup
| Field | Description |
|---|---|
| Total Number of Books Utilized |
This field is not available for user entry. The system automatically displays the total number of books that have been set up for use in the Books Detail block. |
Books Detail
Use the fields in the table window in this block to initialize, name, and describe any additional optional books you need to use for tax or other purposes.
You should decide on the number of books you need to use during the planning phase of your implementation, before you begin to enter data on the screens in the Asset Template and/or Asset Master record menus.
You can use up to 10 books in Costpoint Fixed Assets.
Book 1, which carries the system-provided and non-editable name of "G/L Book," is always designated by the system as the Accounting Book. Book 1 is the only book that interfaces with the Costpoint General Ledger by means of depreciation, disposal, and transfer posting entries.
| Field | Description |
|---|---|
| No |
Enter the desired book number (2 to 10, as appropriate) in this field. You must add additional books in sequential order with no gaps in numbering. For example, if you want to utilize three books in addition to the General Ledger books, they must be added as books 2, 3, and 4. |
| Book Name |
Enter a book name for books 2 to 10. The name for Book 1 is hard-coded as the "G/L Book" and cannot be edited. The name assigned to each optional book 2 to 10 should be specific to your company requirements. The book names you designate for optional books 2 to 10, as applicable, will automatically display on the appropriate screens and in reports that include data for the other books. You can edit this data at any time. |
| Description |
Enter a description for each book you assign. The description for Book 1 is initialized by the system as the "General Ledger Book," and cannot be edited. Although only a single character entered in this field fulfills the system requirement for a description, you may find it more beneficial to supply a meaningful description. This field serves primarily as a reference field, although it does display on several other Fixed Assets screens and reports. You can edit this data at any time. |
Corporate FA Settings
Use the single field in this block to designate one asset number field length size for use across all companies.
All other fields on this screen are company-specific.
| Field | Description |
|---|---|
| Length of Asset Number |
Enter a numeric value from three to ten (3 to 10). When deciding on the number of characters that is appropriate for your needs, aim for a maximum size that allows for both anticipated and unexpected future growth without an excessive display of leading zeroes. For example, if you currently have several thousand asset records, you may want to limit the asset number to only 5 of the 10 allowable characters. With this type of setup, you can add up to 99,999 different asset numbers (using only numeric characters), which allows for ample growth, but at the same time limits the number of redundant leading zeroes. Using this asset numbering scheme, if you enter an asset number of "587," the system will automatically supply two leading zeroes to bring the total asset number field size to five. The asset number will display as "00587." Note: The size that you designate for this field is independent of the
Item No field, which is fixed at five numeric characters with leading zeroes automatically inserted by the system.
The five-character Item No, together with the Asset Number, supply the unique identifier for an Asset Master record. During automatic numbering for both manually entered records and for autocreated records (depending on the option selected on the Configure Default Autocreation Asset Numbering screen, the number of leading zeroes inserted by the system also depends on the value in the Last Asset Number field. The total length of the asset number generated by Costpoint, however, will not exceed the length that you have entered in the first block on this screen. If you change the length of the asset number, which can be done only before you save the first Asset Master record, the Enable Automatic Numbering for Asset Master Records check box in that block will be blanked and the value in the Last Asset Number field will be cleared. |