To open the Settings: Asset Management form, go to: Administration > Settings > Asset Management.
The Settings: Asset Management form
Use the options on this form to enable and configure the Asset Management module.
Note. Any changes made on this form are applied immediately.
Setting | Description |
|---|---|
Enable Fixed Asset Accounting | Selecting this option enables the Asset Management module and the Fixed Asset Accounting functionality. For details, refer to Overview of the Fixed Asset Accounting. |
Enable Depreciation of Fixed Assets | This option, if selected, enables the functionality that allows depreciation of fixed assets. For more information on depreciation calculation, refer to Overview of Depreciation of Fixed Assets. |
Enable Non-Current Asset Classes | This option, if selected, enables the functionality that allows creation of Non-Current Asset Classes and processing of assets in accordance with classes assigned to them. Note. If you select this option when some fixed assets was already registered in the system, you will need to assign each existing fixed asset to one of the classes. |
Enable Preparation for Fixed Asset Sale | This option, if selected, makes available the Preparation for Fixed Asset Sale documents that can be used to record the fixed assets intended for sale to the GL account named Assets Classified as Held for Sale and to stop depreciation calculations for these fixed assets. For more details, see Preparations for Fixed Asset Sale. |
Enable Conservation of Fixed Assets | This option, if selected, makes available the Conservation of Fixed Assets documents that can be used to register temporary removal of specific fixed assets from usage and cancellation of depreciation for this time interval. Return of fixed assets from conservation can be registered by using the Conservation of Fixed Assets document with the Cancellation of Conservation transaction type. For more details, see Conservations of Fixed Assets. |
Enable Construction in Progress for Fixed Assets | If enabled, this functionality allows you to register costs incurred during construction of fixed assets before these fixed assets are put in use and present these costs as the initial costs of the fixed assets. For more information refer to Overview of the Fixed Asset Accounting. |
Enable Capital Improvements to Fixed Assets | If enabled, this functionality allows you to register any costs incurred while improvements are made to the fixed assets and to revise accordingly their useful lives and gross costs. |
Enable Workwear and Tools Accounting | Selecting this option enables the Asset Management module and the Work Wear and Tools Accounting functionality. For more information, refer to Overview of Accounting for Workwear and Tools. Note. You cannot disable this functionality if any related accounting data has been entered. |