Fixed Assets

Setup FMS setup Depreciation method Control options Asset codes (location, category, etc)

FMS Setup Fixed asset subledger Control documents Fixed asset accounts

Depreciation Methods Straight line –Cost – salvage value/useful life=annual depreciation Sum of year digits –Cost – salvage value* (number of years remaining/total of all years digits) Declining balance –Double straight line rate * remaining book value

Fixed Asset Setup Member setup Control options –Asset defaults (document, salvage percent, minimum asset value) –FMS Interface Asset codes (location, categories, classifications,etc.)

Fixed Asset Input Entry for each assetEntry for each asset Enter donated assetsEnter donated assets Fixed Asset File FMS Interface Automatic from receivingAutomatic from receiving Create suspense fileCreate suspense file

Manual Entry Assign Asset number Purchasing information (Po,vendor, invoice) Acquisition method Condition of asset Depreciate asset

FMS Interface Receiving module triggers Creates suspense file with assets Edit suspense file for location, etc. Transfer suspense file to fixed assets

Duplicating Records Based on fixed asset number Control quantity to duplicate Duplicate manual entries or inside suspense file

Transfer/retire/adjust assets Transfer asset to new location Retire asset (disposition, sale price, etc) Post retirements Adjust asset value Post asset adjustments

Inventory Take inventory manually or with bar code scanner Inventory worksheet by location Enter adjustments/retirements as needs Bar code upload process Upload exceptions report to indicate discrepancies.

Depreciation Calculate depreciation – based on period Review calculated depreciation Post depreciation