ACS Version 10.6 - Fixed Assets
Table Of Contents 1.
Fixed Assets ________________________________________________________________________________ 1 Fixed Assets Overview .................................................................................................................................................. 1 Fixed Assets Startup Outline ......................................................................................................................................... 1 Setting Program Defaults............................................................................................................................................... 2 Getting an Overview of the Fixed Assets Setup Window........................................................................................ 2 Using the Setup Option ........................................................................................................................................... 2 Adding Assets................................................................................................................................................................ 3 Defining Fixed Asset Lists ....................................................................................................................................... 3 Adding Asset Categories......................................................................................................................................... 5 Adding Conditions ................................................................................................................................................... 7 Adding Tax Districts ................................................................................................................................................ 8 Adding Locations................................................................................................................................................... 10 Adding Types ........................................................................................................................................................ 11 Getting an Overview of Fixed Assets .................................................................................................................... 12 Adding an Asset .................................................................................................................................................... 13 Adding a Category to an Asset.............................................................................................................................. 14 Setting Up the Depreciation Tab ........................................................................................................................... 15 Adding a Maintenance Record .............................................................................................................................. 15 Printing a Maintenance Report for an Item ........................................................................................................... 16 Managing Asset Information.................................................................................................................................. 16 Depreciation Methods.................................................................................................................................................. 19 Understanding the Depreciation Formulas............................................................................................................ 19 Straight Line Depreciation ..................................................................................................................................... 20 Double Declining Balance Depreciation ................................................................................................................ 21 Sum of Year's Digits Depreciation......................................................................................................................... 22 Custom Depreciation............................................................................................................................................. 24 Calculating and Posting Depreciation.......................................................................................................................... 26 Enter/Post Depreciation ........................................................................................................................................ 26 Fixed Assets Posting Outline ................................................................................................................................ 26 Calculating Depreciation ....................................................................................................................................... 26 Clearing Unposted Calculations ............................................................................................................................ 27 Printing a Depreciation Journal ............................................................................................................................. 27 Posting Depreciation ............................................................................................................................................. 28 Period End Procedures................................................................................................................................................ 29 Month End Procedures.......................................................................................................................................... 29 Closing the Current Month .................................................................................................................................... 29 Labels .......................................................................................................................................................................... 29 About Fixed Asset Labels...................................................................................................................................... 29 Fixed Assets Label Layout .................................................................................................................................... 31 Viewing a List of Available Labels ......................................................................................................................... 32 Getting an Overview of the Label Layout .............................................................................................................. 32 Customizing and Printing Fixed Assets Labels ..................................................................................................... 33 Printing Fixed Asset Labels................................................................................................................................... 34 Printing Labels for Unassigned Item Numbers...................................................................................................... 35 Reports ........................................................................................................................................................................ 35 Printing a Report ................................................................................................................................................... 35 Previewing Reports ............................................................................................................................................... 36 Viewing the Available Fixed Assets List Reports .................................................................................................. 36 Report Options ...................................................................................................................................................... 37 Scanning Fixed Assets ................................................................................................................................................ 41 About the Portable Bar Code Scanner .................................................................................................................. 41 Understanding the Bar Code Scanner Utilities...................................................................................................... 42 Understanding the Import File Format................................................................................................................... 42 Adding New Assets Using the Bar Code Scanner ................................................................................................ 46
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Maintaining Assets Using the Bar Code Scanner ................................................................................................. 46 Importing Data Using the RS232 Cable ................................................................................................................ 47 Importing Data Using a Keyboard Wedge............................................................................................................. 48
2.
Glossary __________________________________________________________________________________ 51
3.
Index _____________________________________________________________________________________ 59
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Fixed Assets Fixed Assets Overview The ACS Fixed Assets module is a management system in which you can keep track of valuable items and equipment. Your organization's fixed assets represent a large financial investment. The cost of acquiring, maintaining and replacing these assets, along with depreciation expense, have a substantial impact on your financial growth. Managing these assets as simply and easily as possible is critical. The ACS Fixed Assets module provides the tools to accomplish this. In Fixed Assets, you can create lists of specific items in your inventory. For each asset, you can record important information such as acquisition date, cost, maintenance, and useful life. You can then print reports based on the entered information. You can also select from among various depreciation methods, or create your own depreciation table. ACS can then calculate the depreciation and post it to the general ledger.
Fixed Assets Startup Outline To begin using the ACS Fixed Assets module, use the following start-up outline: 1. Configure the G/L Interface. 2. Set up conditions. 3. Set up departments. 4. Set up tax districts.
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5. Set up asset types. 6. Set up locations. 7. Set up custom depreciation methods. 8. Set up asset categories. 9. Enter assets. You are now ready to calculate and post depreciation.
Setting Program Defaults Getting an Overview of the Fixed Assets Setup Window In the Fixed Assets Setup window, the following fields are available: Fixed Assets Setup Posting Month — Displays the current posting month. To change the month, click the down arrow and select a month in the drop-down list. Posting Year — Displays the current posting year. To change the month, click the down arrow and select a year in the drop-down list. Default G/L Source — Enter a general ledger transaction source to use for posting depreciation. Click the down arrow to select a transaction source in the drop-down list. Auto Assign Item Number — Select to automatically assign the next available item number to a new fixed asset. Next Item Number — Displays the next item number for fixed assets. Click in the field and enter the number that you want to automatically assign to the next fixed asset you add.
Using the Setup Option You can use the Setup option to select your default posting information. Selecting the posting information saves you time because this information displays in the Add and Edit windows for you. You only need to verify that the information is correct and change it when necessary, such as when you want to post to a period other than the current one. To select the default posting information 1. Under Advanced Tools, click the Settings tab. 2. In the drop-down list, select Fixed Assets. 3. Click Go
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4. Make the selections that you want in each of the fields. For more information on these fields, see Getting an Overview of the Fixed Assets Window.
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5. Click OK.
Adding Assets Defining Fixed Asset Lists Understanding the Add/Edit Asset Categories Window Use the Add/Edit Asset Categories window to add asset categories or update existing asset categories. When adding a new asset category, you can enter general information about the category, select a depreciation method, and select a frequency for the depreciation. Asset Categories Category Code — Enter a unique identifier for the asset category. The identifier is a three-character alphanumeric user-defined code. Active — Select the status of the asset category. Valid statuses are: •
Active — The asset category displays in lists.
•
Not Active — The asset category does not display in lists.
Description — Enter a label or name for the asset category. Life (In Years) — Enter the estimated number of years of usefulness remaining for the assets in the category. Ignore Acquire Date — Allows you to disregard the acquire date when calculating depreciation. Asset Account — Enter the general ledger account code for the assets to which you want to post accumulated depreciation. To select an account in the Account Lookup window, click Lookup
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Expense Account — Enter the general ledger expense account code to which you want to post depreciation expense. To select an account in the Account Lookup window, click Lookup
.
Depreciation Method Straight Line — To use the Straight Line Depreciation method, select the check box. Double Declining Balance — To use the Double Declining Balance Depreciation method, select the check box. Sum of Year's Digits — To use the Sum of Year's Digits Depreciation method, select the check box. Custom Method — To use a customized depreciation method, select the check box. In the drop-down list, you can select one of the following: •
Accelerated Depreciation
•
Decelerated Depreciation
•
Your own method
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Frequency Monthly — To calculate and apply depreciation on a monthly basis, select the check box. Yearly — To calculate and apply depreciation on a yearly basis, select the check box. Options Add Another — To add another asset category, select the check box.
Understanding the Add/Edit Condition Records Window Use the Add/Edit Condition Records window to add a condition or to update an existing condition. Conditions are assigned to assets on the Asset Info tab in the Add/Edit Fixed Assets Window. Condition Records Condition Code — Enter a unique identifier for the condition record. The identifier is a three-character alphanumeric user-defined code. Active — Select the current status of the condition record. Valid statuses are: •
Active — The condition record displays in lists.
•
Not Active — The condition record does not display in lists.
Condition Description — Enter a label or name for the condition record. Options Add Another — To add another condition record, select the check box.
Understanding the Add/Edit Tax District Records Window Use the Add/Edit Tax Districts window to add a tax district or update an existing tax district. Examples of tax districts include entities such as a city, a county, or a state. Tax District Records Tax District Code — Enter a unique identifier for the tax district record. The identifier is a three-character alphanumeric user-defined code. Active — Select the current status of the tax district record. Valid statuses are: •
Active —The tax district displays in lists.
•
Not Active — The tax district does not display in lists.
Tax District Description — Enter a label or name for the tax district. Options Add Another — To add another tax district record, select the check box.
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Understanding the Add/Edit Location Records Window Use the Add/Edit Locations window to add a location or update an existing location. Locations are assigned to assets on the Asset Info tab in the Add/Edit Fixed Assets window. Location Records Location Code — Enter a unique identifier for the location record. The identifier is a three-character alphanumeric user-defined code. Active — Select the status of the location record. Valid statuses are: •
Active — The location record displays in lists.
•
Not Active — The location record does not display in lists.
Location Description — Enter a label or name for the location record. Options Add Another — To add another location record, select the check box.
Understanding the Add/Edit Type Records Window Use the Add/Edit Type Records window to create a type or update an existing type. Type Records Type Code — Enter a unique identifier for the type record. The identifier is a three-character alphanumeric user-defined code. Active — Select the status of the type record. Valid statuses are: •
Active — The type record displays in lists.
•
Not Active — The type record does not display in lists.
Type Description — Enter a name for the type record. Options Add Another — To add another type record, select the check box.
Adding Asset Categories Updating an Asset Category You can update an asset category at any time. The updated information displays when the category is selected for new or existing assets. For those assets with the category currently assigned, you must update the category information on the Depreciation tab of the asset in Add/Edit Fixed Assets. For information on updating an asset, see Updating an Asset. To update an asset category 1. Under Advanced Tools, click the Define Lists tab.
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2. In the drop-down list, select Fixed Assets. 3. Click Go
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4. Select Asset Categories, then select the asset category you want to change. 5. Click Edit. 6. Enter the revised information, and click OK.
Deleting an Asset Category You can delete an asset category that is no longer in use. If assets are associated with the asset category, you receive a prompt to clear the asset category from all assets before deleting it. If you decide that you do not want to delete the category, click No. To delete an asset category 1. Under Advanced Tools, click the Define Lists tab. 2. In the drop-down list, select Fixed Assets. 3. Click Go
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4. Select Asset Categories, then select the asset category you want to delete. 5. Click Delete. 6.
Click Yes.
Printing an Asset Category List You can preview or print the Asset Category List in the Define Lists window. When you select to print the report, you can select each or all of the following options: •
Include Detail — The code and description of each asset category record is included in the report. For each code, all assets with the assigned asset category is listed with the asset item number and description.
•
Include Inactive Lists — Any asset category records that are not active are included in the report. The non-active records are marked with an asterisk (*).
•
Preview — Displays the report before printing.
To print an Asset Category List 1. Under Advanced Tools, click the Define Lists tab. 2. In the drop-down list, select Fixed Assets. 3. Click Go 6
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Fixed Assets
4. Select Asset Categories, then click Print. 5. Optional: Select as many of the following options as you want to include in the Asset Category List. •
Include Detail
•
Include Inactive Lists
6. Click Print.
Adding Conditions Updating a Condition You can update a condition record at any time. Changes that you make to a condition display on new or existing assets when you select the condition. For those assets with the condition currently assigned, changes to the description display immediately. To update a condition 1. Under Advanced Tools, click the Define Lists tab. 2. In the drop-down list, select Fixed Assets. 3. Click Go
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4. Select Conditions, then select the condition you want to change. 5. Click Edit. 6. Enter the revised information, and click OK.
Deleting a Condition You can delete a condition that you no longer plan to use. If assets are associated with the condition, you receive a prompt to clear the condition from all assets before deleting it. If you decide that you do not want to delete the condition, click No. To delete a condition 1. Under Advanced Tools, click the Define Lists tab. 2. In the drop-down list, select Fixed Assets. 3. Click Go
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4. Select Conditions, then select the condition you want to delete. 5. Click Delete. 6. Click Yes.
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Printing an Asset Condition List You can preview or print the Asset Condition List report at any time. When you select to print the report, you can select each or all of the following options: •
Include Detail — The code and description of each condition record is included in the report. For each code, all assets with the assigned condition is listed with the asset item number and description.
•
Include Inactive Lists — Any condition records that are not active are included in the report. The non-active records are marked with an asterisk (*).
•
Print Bar Code — A bar code for each condition record is included in the report for scanning.
•
Preview — Displays the report before printing.
To print an Asset Condition List report 1. Under Advanced Tools, click the Define Lists tab.
2. In the drop-down list, select Fixed Assets. 3. Click Go
.
4. Click Print. 5. Optional: Select as many of the following options as you want to include on the Asset Condition List: •
Include Detail?
•
Include Inactive Lists?
•
Print Bar Code?
6. Click Print.
Adding Tax Districts Updating a Tax District You can update a tax district record at any time. Changes made to a tax district description are updated immediately on the asset records to which the tax district is assigned. To edit a tax district 1. Under Advanced Tools, click the Define Lists tab. 2. In the drop-down list, select Fixed Assets. 3. Click Go
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4. Select Tax Districts, then select the tax district record you want to change.
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5. Click Edit. 6. Enter the revised information, and click OK.
Deleting a Tax District You can delete a tax district that is no longer in use. If assets are associated with the tax district, you receive a prompt to clear the tax district from all assets before deleting it. If you decide that you do not want to delete the tax district, click No. To delete a tax district 1. Under Advanced Tools, click the Define Lists tab. 2. In the drop-down list, select Fixed Assets. 3. Click Go
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4. Select Tax Districts, then select the tax district you want to delete. 5. Click Delete. 6. Click Yes.
Printing an Asset Tax District List You can preview or print the Asset Tax District List report at any time. When you select to print the report, you can select the following options: •
Include Detail — The tax district code and description is included for each record. For each code, all assets with the assigned tax district is listed with the asset item number and description.
•
Include Inactive Lists — Any tax district records that are not active are included in the report. The non-active records are marked with an asterisk (*).
•
Preview — Displays the report before printing.
To print an Asset Tax District List 1. Under Advanced Tools, click the Define Lists tab.
2. In the drop-down list, select Fixed Assets. 3. Click Go
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4. Select Tax Districts, then click Print. 5. Optional: Select as many of the following options as you want to include in the report: •
Include Detail?
•
Include Inactive Lists?
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ACS Version 10.6 - Fixed Assets
6. Click Print.
Adding Locations Updating a Location You can update a location at any time. Changes made to a location description are updated immediately on the asset records to which the location is assigned. If you are using bar code labels, you can print a new bar code list for the assets in the updated location. To update a location 1. Under Advanced Tools, click the Define Lists tab. 2. In the drop-down list, select Fixed Assets. 3. Click Go
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4. Select Locations, then select the location record you want to change, 5. Click Edit. 6. Enter the revised information, and click OK.
Deleting a Location You can delete a location that is no longer is use. If assets are associated with the location, you receive a prompt to clear the location from all assets before deleting it. If you decide that you do not want to delete the location, click No. To delete a location 1. Under Advanced Tools, click the Define Lists tab. 2. In the drop-down list, select Fixed Assets. 3. Click Go
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4. Select Locations, then select the location you want to delete. 5. Click Delete. 6. Click Yes.
Printing an Asset Location List You can preview or print the Asset Location List report at any time. When you select to print the report, you can select each or all of the following options: •
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Include Detail — The code and description of each location record is included in the report. For each code, all assets with the assigned location is listed with the asset item number and description.
Fixed Assets
•
Include Inactive Lists — Any location records that are not active are included in the report. The non-active records are marked with an asterisk (*).
•
Print Bar Code — A bar code for each location record is included in the report for scanning.
•
Preview — Displays the report before printing.
To print an Asset Location List report 1. Under Advanced Tools, click the Define Lists tab. 2. In the drop-down list, select Fixed Assets. 3. Click Go
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4. Click Print. 5. Optional: Select as many of the following options as you want to include in the Asset Location List report. •
Include Detail
•
Include Inactive Lists
•
Print Bar Code
6. Click Print.
Adding Types Updating a Type You can update an asset type at any time. Any changes you make to the type description are updated in the fixed assets records immediately. To update a type 1. Under Advanced Tools, click the Define Lists tab. 2. In the drop-down list, select Fixed Assets. 3. Click Go
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4. Select Types, then select the type record you want to change. 5. Click Edit. 6. Enter the revised information, and click OK.
Deleting a Type You can delete a type that is no longer in use. If assets are associated with the type, you receive a prompt to clear the type from all assets before deleting it. If you decide that you do not want to delete the type, click No.
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To delete a type 1. Under Advanced Tools, click the Define Lists tab. 2. In the drop-down list, select Fixed Assets. 3. Click Go
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4. Select Types, then select the type you want to delete. 5. Click Delete. 6. Click Yes.
Printing an Asset Type List You can preview or print the Asset Type List in the Define Lists window. When you select to print the report, you can select the following options: •
Include Detail — The code and description of each type record is included in the report. For each code, all assets with the assigned type is listed with the asset item number and description.
•
Include Inactive Lists — Any type records that are not active are included in the report. The non-active records are marked with an asterisk (*).
•
Preview — Displays the report before printing.
To print an Asset Type List 1. Under Advanced Tools, click the Define Lists tab. 2. In the drop-down list, select Fixed Assets. 3. Click Go
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4. Select Types, then click Print. 5. Optional: Select as many of the following options as you want to include in the report: •
Include Detail
•
Include Inactive Lists
6. Click Print.
Getting an Overview of Fixed Assets You can use Add/Edit Fixed Assets to track all of your organization's fixed assets. This includes general information such as the purchase or acquired date, serial number, and condition. You can also set up each asset's depreciation method and other base-line information, as well as keep track of maintenance information.
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Fixed Assets
You can print labels for your fixed assets and reports for performing inventory. You can use a bar code scanner to scan the labels and import the information to ACS.
Adding an Asset The Asset Info tab lists general information about the asset. When adding an asset, you must complete both the Asset Info tab and the Depreciation tab. Historical cost and depreciable basis are normally the same amount for new items. The depreciable basis is normally less than the historical cost for donated items. Depreciable basis and salvage value are not the same amount. To add an asset 1. Under Manage Records, click the Records tab. 2. In the drop-down list, select Add/EditFixed Assets. 3. Click Go
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4. Select Add. 5. Enter an item number. If the Auto Assign Item Number option is selected in Fixed Assets Setup, the next available number displays in the Item Number field. 6. Enter an description of the item. 7. Enter general information for the asset. •
Enter the manufacturer or make of the item.
•
Enter the model of the item.
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Select an asset type.
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In the Quantity box, type or select the quantity of the asset.
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Enter the place where the item is located. Click the down arrow to select a location in the drop-down list.
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Enter the serial number of the item.
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Enter the condition of the item. Click the down arrow to select a condition in the drop-down list.
8. If necessary, enter other optional information. •
Enter a department, or select a department in the drop-down list.
•
Enter a tax district, or select a tax district in the drop-down list.
•
Enter a description of the warranty information.
•
Enter the warranty expiration date, or select a date in the calendar.
9. Enter cost information for the asset.
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•
Enter the date you purchased or acquired the asset. Click the down arrow to select a date in the calendar.
•
Enter the last date of the asset's useful life (the date you plan to retire the asset). Click the down arrow to select a date in the calendar.
•
Enter the amount you paid for the asset. If the asset was donated, enter the value of the item at the time of acquisition. Both are considered the historical cost.
•
Enter the amount from which to calculate depreciation (depreciable basis).
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Enter the estimated amount the asset will hold after the asset's useful life expires (salvage value).
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Enter the total, cumulative amount of depreciation expense that you have recorded since you acquired the fixed asset.
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Set up the Depreciation tab.
Adding a Category to an Asset You can create asset categories to set depreciation defaults for fixed assets. You can add as many asset categories as you need for you organization. Once you add the category, you cannot change the code. Categories provide a way to set depreciation defaults for your assets. When you set up a category, you can select default accounts, the life of assets, and depreciation methods, among other options. For example, you can set up a category named "Computers" and assign a life of three years, assign asset and expense accounts, and select a frequency and depreciation method. The next time you add a computer to your list of assets, you can select the category Computer on the Depreciation tab and the default values are set. However, you are not required to use the default values. To add an asset category 1. Under Advanced Tools, click the Define Lists tab. 2. In the drop-down list, select Fixed Assets. 3. Click Go
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4. Under Available Lists, select Asset Categories. 5. Click Add. 6. Enter the information in each field. For more information, see Understanding the Add/Edit Asset Categories Window. 7. Optional: Select Add Another to add another asset category. 8. Click OK.
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Setting Up the Depreciation Tab The Depreciation tab in Add/Edit Fixed Assets contains information about the asset's depreciation schedule and general ledger accounts. To set up the Depreciation tab 1. After setting up the Assets Info tab, click the Depreciation tab. 2. Select an asset category. Click the down arrow to select a category in the drop-down list.
Note
If you select an asset category, the following fields are populated with the category’s defaults: Life, Asset Account, Expense Account, Frequency, and Depreciation Methods.
3. Enter the asset's expected life. Click the up and down arrows to increase or decrease the number of years. 4. Select Ignore Acquire Date if you want to disregard the acquire date when calculating depreciation. 5. Enter the general ledger asset account. Click Lookup account in the Account Lookup window. 6. Enter a general ledger expense account. Click Lookup account in the Account Lookup window.
to select an to select an
7. Select a depreciation frequency, Monthly or Yearly. 8. Select a depreciation method. 9. If you selected the Custom Method option, click the down arrow to select a depreciation method in the drop-down list. 10. Click OK.
Adding a Maintenance Record You can keep track of maintenance performed on a specific asset. To add a maintenance record 1. Under Manage Records, click the Records tab. 2. In the drop-down list, select Add/EditFixed Assets. 3. Click Go
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4. Select the asset to which you want to add a maintenance record. 5. Click Edit. 6. Click the Maintenance tab.
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7. Click Add. 8. Enter a description of the maintenance performed. 9. Enter the scheduled completion date of the maintenance procedure. Click the Down Arrow
to select a date in the calendar.
10. Enter the cost of the maintenance procedure. 11. When maintenance procedure is complete, select the Completed option. 12. Click OK. 13. Click OK again. Note
You must click OK twice to save the Maintenance record.
Printing a Maintenance Report for an Item You can print a report for the maintenance performed on a single maintenance record. To print a Maintenance Report 1. Under Manage Records, click the Records tab. 2. In the drop-down list, select Add/Edit Fixed Assets. 3. Click Go
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4. Select an asset. 5. Click the Maintenance tab. 6. Click Print.
Managing Asset Information Updating an Asset You can edit an asset record as needed. When changing an asset depreciation method, you may need to make a journal entry to reconcile past depreciation postings. Also, the IRS requires that you use certain depreciation methods for certain types of assets. If you have any questions on the method of depreciation you should use, contact your accounting professional or the IRS at www.irs.gov. To edit an asset 1. Under Manage Records, click the Records tab. 2. In the drop-down list, select Add/Edit Fixed Assets.
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3. Click Go
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4. Select the asset you want to edit. 5. Click Edit. 6. Make any necessary changes. 7. Click OK.
Deleting an Asset You can delete an asset that you no longer need to track. Deleting an asset does not delete previous postings to the general ledger. To delete an asset 1. Under Manage Records, click the Records tab. 2. In the drop-down list, select Add/Edit Fixed Assets. 3. Click Go
.
4. Select the asset you want to delete. 5. Click Delete. 6. Click Yes to delete the asset.
Updating a Category When you change the category assigned to an asset, all fields related to the category update also. The information in the category does not change any posted depreciation amounts. The changes take affect the next time you calculate depreciation for the asset. You can change the category assigned to an asset at any time. To update a category 1. Under Managed Records, click the Records tab. 2. In the drop-down list, select Add/Edit Fixed Assets. 3. Click Go
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4. Select the asset you want to change, then click Edit. 5. Click the Depreciation tab. 6. Click in the Asset Category list to select a new category.. 7. Click OK.
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Removing a Category from an Asset You can delete an asset category that is no longer needed. If assets are associated with the asset category, you receive a prompt to clear the asset category from all assets before deleting it. Click Yes to clear the asset category from assets, or click No to continue without deleting the asset category. To delete an asset category 1. Under Advanced Tools, click the Define Lists tab. 2. In the drop-down list, select Fixed Assets. 3. Click Go
.
4. Under Available Lists, select Asset Categories. 5. Select the category you want to remove, and click Delete. 6. Click Yes to the confirmation message.
Updating a Maintenance Record You can edit a maintenance record if information such as completed date or cost has changed. To edit a maintenance record 1. Under Manage Records, click the Records tab. 2. In the drop-down list, select Add/Edit Fixed Assets. 3. Click Go
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4. Select the asset that you want to edit. 5. Click Edit, then click the Maintenance tab. 6. Select the maintenance record you want to edit, then click Edit. 7. Enter the revised information. 8. Click OK. 9. Click OK again. Note
You must click OK twice to save the Maintenance record.
Deleting a Maintenance Record To delete a maintenance record 1. Under Manage Records, click the Records tab. 2. In the drop-down list, select Add/Edit Fixed Assets.
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3. Click Go
.
4. Select the asset that contains the maintenance record you want to delete. 5. Click Edit. 6. Click the Maintenance tab. 7. Select the maintenance record you want to delete. 8. Click Delete. 9. Click Yes to delete the record. 10. Click OK.
Depreciation Methods Understanding the Depreciation Formulas Fixed Assets provides three popular methods to calculate depreciation. These methods include both types of depreciation: Straight Line Depreciation and Accelerated Depreciation. The following variables are available to calculate depreciation using the Straight Line Depreciation. Historical Cost (H) — This is the original price/value of the fixed asset at the time of its acquisition. Salvage Value (S) — The estimated dollar value an asset still holds after its useful life has expired. Useful Life (U) — The estimated time, expressed in years, that a fixed asset will hold useful value for an organization. After this period, the asset is usually retired and sold for its salvage value. Straight Line Depreciation uses the following formula: (H - S)/U = A The following variables are used to calculate depreciation using Double Declining Balance Depreciation. Historical Cost (H) — This is the original price/value of the fixed asset at the time of its acquisition. Salvage Value (S) — The estimated dollar value an asset still holds after its useful life has expired. Useful Life (U) — The estimated time, expressed in years, that a fixed asset will hold useful value for an organization. After this period, the asset is usually retired and sold for its salvage value. Accumulated Depreciation (A) — Refers to the total, cumulative amount of depreciation expense that has been recorded since the fixed asset was acquired. The purpose is to show how much of the total cost a fixed asset has been depreciated over time.
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Asset Book Value (C) — This is the Historical Cost less the Accumulated Depreciation. (C = H - A) Double Declining Balance Depreciation uses the following formula: C * (2/U) = Depreciation
Note
If no depreciable basis is entered for an asset, historical cost is used to calculate depreciation. If a depreciable basis is entered for an asset, that will be used instead of historical cost.
Straight Line Depreciation Depreciation under this method is a function of time rather than use. This method uses a lump sum derived from a mathematical formula based upon the asset's useful life, historical cost, and salvage value. The following variables are used: Historical Cost (H) — The original price or value of the fixed asset at the time of its acquisition. Salvage Value (S) — The estimated dollar value an asset still holds after its useful life is expired. Useful Life (U) — The estimated time, expressed in years, that a fixed asset holds useful value for an organization. After this period, the asset is usually retired and sold for its salvage value. Straight Line Depreciation uses the following formula: (H - S)/U = Accumulated Depreciation For example: You have a van that you purchased for $18,500. You expect the van to have a useful life of 15 years and a salvage value of $9,500. You decide to use the Straight Line Depreciation Method. Item — Vehicle Historical Cost — $18,500 Salvage Value — $9,500 Useful Life — 15 years 18,500-9,500 = 600 15 The accumulated depreciation is $600. This means that each year, a depreciation of $600 is applied to the asset.
20
Fixed Assets
Double Declining Balance Depreciation The Double Declining Balance depreciation method uses a percentage rate calculated on an asset's useful life and then the percentage is doubled. This percentage is applied to the asset book value at the beginning of the year, but only until the amount is applied to the salvage value. At the end of the asset's useful life, the book value depreciates in the amount necessary to bring the book value to its salvage value. Since the accumulated depreciation changes each year, the asset book value reduces each year, causing decreasing depreciation. The following variables are used: Historical Cost (H) — The original price or value of the fixed asset at the time of its acquisition. Salvage Value (S) — The estimated dollar value an asset still holds after its useful life has expired. Useful Life (U) — The estimated time, expressed in years, that a fixed asset holds useful value for an organization. After this period, the asset is usually retired and sold for its salvage value. Accumulated Depreciation (A) — Refers to the total, cumulative amount of depreciation expense recorded since the fixed asset was acquired. The purpose is to show how much of the total cost a fixed asset has depreciated over time. Asset Book Value (C) — This is the historical cost less the accumulated depreciation. (C = H - A) Double Declining Balance Depreciation uses the following formula: C * (2/U) = Depreciation For example: You have a video camera that you purchased for $850. You expect it to have a useful life of 10 years and a salvage value of $200. You decide to use the Double Declining Balance Depreciation method. Item — Video Camera Historical Cost — $850 Salvage Value — $200 Useful Life — 10 years Year 1 C = 850 - 0 C = 850 850 * (2/10) = 170 The Accumulated depreciation for the first year is $170. 21
ACS Version 10.6 - Fixed Assets
Year 2 C = 850 - 170 C = 680 680 * (2/10) = 136 The accumulated depreciation for the second year is $136. As you can see, the amount to depreciate declines each year. The table below shows the amount the video camera depreciates each year. Year
Depreciation
Accumulated Depreciation
Asset Book Value
1
$170.00
$170.00
$680.00
2
$136.00
$306.00
$544.00
3
$108.80
$414.80
$435.20
4
$87.04
$501.84
$348.16
5
$69.63
$571.47
$278.53
6
$55.71
$627.18
$222.82
7
$22.72*
$650.00
$200.00
8
$0.00
$650.00
$200.00
9
$0.00
$650.00
$200.00
10
$0.00
$650.00
$200.00
* The actual amount the formula returns is $44.56. However, this would return an asset book value of $582.62, which is less than the salvage value of $200. Once the salvage value is reached, the asset is no longer depreciated.
Sum of Year's Digits Depreciation This method uses a percentage rate calculated on fractions where the numerators are based on the number of years of an asset's useful life, and the denominators are constants based upon the total sum of all the numerators added together. Because the denominator remains constant and the numerator declines each year, the result is a decreasing depreciation expense. The following variables are used: Historical Cost (H) — The original price or value of the fixed asset at the time of its acquisition. Salvage Value (S) — The estimated dollar value an asset still holds after its useful life is expired. Useful Life (U) — The estimated time, expressed in years, that a fixed asset holds useful value for an organization. After this period, the asset is usually retired and sold for its salvage value. 22
Fixed Assets
Age (Y) — The age of the asset, in years. Denominator (N) = [(U + 1)/2] * U Sum of the Year's Digits Depreciation uses the following formula: (H - S) * (U - Y +1) = Depreciation N For example: You buy a new P. A. system for $10,000. You expect it to have a useful life of 10 years and a salvage value of $500. You decide to use the Sum of the Year's Digits Depreciation method. Item — P. A. System Historical Cost — $10,000 Salvage Value — $500 Useful Life — 10 years Denominator-[(10+1)/2) * 10 = 55 Year 1 (10,000 - 500) * (10 - 1 + 1) = 1727.27. 55 The depreciation for the first year is $1727.27. Year 2 (10,000 - 500) * (10 - 2 + 1) = 1554.55 55 The depreciation for the second year is $1554.55. As illustrated, the amount to depreciate declines each year. The following table shows the amount the P.A. System depreciates each year. Year
Depreciation
Accumulated Depreciation
Asset Book Value
1
$1,727.27
$1,727.27
$8272.73
2
$1,554.55
$3,281.82
$6718.18
3
$1,381.82
$4,663.64
$5336.36
4
$1,209.09
$5,872.73
$4127.27
5
$1,036.36
$6,909.09
$3090.91
6
$863.64
$7,772.73
$2227.27
7
$690.91
$8,463.64
$1536.36
8
$518.19
$8,981.83
$1018.17
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ACS Version 10.6 - Fixed Assets
9
$345.45
$9,327.28
$672.72
10
$172.73
$9,500.01*
$499.99*
* Totals do not equal salvage value due to rounding. ACS does not allow the final asset book value to equal less than the salvage amount.
Custom Depreciation Understanding the Add/Edit Custom Depreciation Methods Window Use the Add/Edit Custom Depreciation Methods window to add a customized depreciation method or update an existing method. Changes made to an existing depreciation method do not change any depreciation expense or accumulated depreciation amounts that are posted to the general ledger. Only future calculations are affected by the changes. Even though you can enter a percentage to depreciate for years 1–40, you are not required to enter a percentage for each year. However, the percentages you do enter must equal 100. Depreciation Methods Depreciation Code — Enter a unique identifier for the depreciation method. The identifier is a three-character alphanumeric user-defined code. Active — Select the current status of the depreciation method. Valid statuses are: •
Active — The depreciation method displays in lists.
•
Not Active — The depreciation method does not display in lists.
Description — Enter a label or name for the depreciation method. Year 1 – Year 40 — Enter the percentage amount by which you want assets to depreciate each year. Remaining — Displays the additional percentage amount that you must add to the table. Options Add Another — To add another depreciation method, select the check box.
Updating a Depreciation Method You can update a depreciation method at any time. When you update a depreciation method, the changes you make effect future calculations only. Any depreciation expense and accumulated depreciation that is already posted to the general ledger is not affected. To update a depreciation method
24
Fixed Assets
1. Under Advanced Tools, click the Define Lists tab. 2. In the drop-down list, select Fixed Assets. 3. Click Go
.
4. Select Depreciation Methods, then select the depreciation method you want to change. 5. Click Edit. 6. Enter the revised information, and click OK.
Deleting a Depreciation Method You can delete a depreciation method that is no longer in use. If assets are associated with the depreciation method, you receive a prompt to clear the method from all assets before deleting it. If you decide that you do not want to delete the depreciation method, click No. To delete a depreciation method 1. Under Advanced Tools, click the Define Lists tab. 2. In the drop-down list, select Fixed Assets. 3. Click Go
.
4. Select Depreciation Methods, then select the depreciation method you want to delete. 5. Click Delete. 6. Click Yes.
Printing a Depreciation Methods List You can preview or print the Depreciation Methods List at any time in the Define Lists window. When you select to print the report, you can select each or all of the following options: •
Include Detail — The code and description of each depreciation method record is included in the report. For each code, all assets with the assigned depreciation method is listed with the asset item number and description.
•
Include Inactive Lists — Any depreciation method records that are not active are included in the report. The non-active records are marked with an asterisk (*).
•
Preview — Displays the report before printing.
To print a Depreciation Methods List 1. Under Advanced Tools, click the Define Lists tab. 2. In the drop-down list, select Fixed Assets.
25
ACS Version 10.6 - Fixed Assets
3. Click Go
.
4. Select Depreciation Methods, then click Print. 5. Optional: Select as many of the following options as you want to include in the Depreciation Methods List. •
Include Detail
•
Include Inactive Lists
6. Click Print.
Calculating and Posting Depreciation Enter/Post Depreciation You can use Enter/Post Depreciation to calculate depreciation for your fixed assets and post the depreciation to the general ledger. In Enter/Post Depreciation, you can print a depreciation journal to verify the depreciation calculated, as well as using it as an audit record. When calculating depreciation, ACS compares the depreciation date to the acquisition date. If less than one year has passed since the asset was acquired, ACS divides the yearly amount by 12 and then multiplies by the number of months in service. The result is the correct depreciation amount for the first year. You can use Enter/Post Depreciation to close the current month and change the posting month to the next month.
Fixed Assets Posting Outline Use the Fixed Assets Posting Menu to perform the following tasks. •
Calculate Depreciation
•
Depreciation Journal
•
Post Depreciation
•
Close Current Month
Calculating Depreciation Keeping accurate records on the value of your assets is the key when it comes to replacing or disposing of them. Calculating and posting depreciation reduces the value of the asset on your books so you know when the time is right to purchase new equipment.
26
Fixed Assets
Although you can calculate depreciation at any time, you can make this a part of your period-end procedures, either monthly or yearly. ACS does not update your records until you post the depreciation amount to the general ledger. To calculate the depreciation of your organization’s fixed assets 1. Under Manage Records, click the Transactions tab. 2. In the drop-down list, select Fixed Assets Depreciation. 3. Click Go
.
4. Click Calculate Depreciation. 5. Verify the depreciation date. Click the down arrow to select a date in the calendar. 6. Optional: To calculate depreciation for inactive items, select the Depreciate Inactive Items option. 7. Select whether to calculate depreciation for assets whose depreciation is calculated on a Monthly basis, Yearly basis, or both. 8. Click Begin to calculate depreciation. 9. Click OK. 10. After calculating depreciation, you are ready to print the Depreciation Journal.
Clearing Unposted Calculations If you find an error in your depreciation calculations, you can clear the calculations and recalculate. To clear unposted calculations 1. Under Manage Records, click the Transactions tab. 2. In the drop-down list, select Fixed Assets Depreciation. 3. Click Go
.
4. Click Calculate Depreciation. 5. Click Clear Current Calculations. 6. Click Yes to clear current calculations.
Printing a Depreciation Journal The depreciation journal provides a printed record of your asset depreciation for your files. To activate the Post Depreciation option on the Fixed Assets Posting menu, you must preview or print the Depreciation Journal report, and click OK
27
ACS Version 10.6 - Fixed Assets
To print a depreciation journal 1. Under Manage Records, click the Transactions tab. 2. In the drop-down list, select Fixed Assets Depreciation. 3. Click Go
.
4. Click Depreciation Journal. 5. Optional: To include assets that have no depreciation in the current set of transactions, select the Include Items with Zero Current Depreciation check box. 6. Optional: Click Preview to view the report. 7. Click Print to print the depreciation journal. 8. Click OK to return to the Fixed Assets posting menu.
Posting Depreciation Posting depreciation automatically posts the calculated amounts to the assigned accounts in the general ledger. You must calculate depreciation and print the depreciation journal before you can post depreciation. To post depreciation to the General Ledger module 1. Under Manage Records, click the Transactions tab. 2. In the drop-down list, select Fixed Assets Depreciation. 3. Click Go
.
4. Click Post Depreciation. 5. Verify the posting date. Click the down arrow to select a different date in the calendar. 6. Verify the Post Month/Year. Click the up and down arrows in the Month and Year date boxes period.
to select a different posting
7. Select a transaction source. Click the down arrow to select a transaction source in the drop-down list. 8. Enter a reference number. Click Next to automatically assign the next available reference number for the selected transaction source. 9. Enter an explanation. If no description is entered, Explanation defaults to Asset Depreciation (date). 10. Click OK.
28
Fixed Assets
Period End Procedures Month End Procedures At the end of every month, using the following procedures is necessary for a smooth month-end closing. You must complete these procedures before calculating depreciation for the next period. •
Calculate Depreciation
•
Print a Depreciation Journal
•
Post Depreciation to the general ledger
•
Print reports
•
Close the Month
By following the these steps in the Fixed Assets module, and following a similar procedure for your other ACS Financial modules, you can verify that your transactions are entered properly and your books are accurate.
Closing the Current Month You close the current month to change the posting month to the next month, and if necessary, the next year. To close the current month 1. Under Manage Records, click the Transactions tab. 2. In the drop-down list, select Fixed Assets Depreciation. 3. Click Go
.
4. Click Close Current Month. 5. Click Yes.
Labels About Fixed Asset Labels You can print 2-Up and 3-Up laser bar code labels to help you keep track of your assets. You can use the Fixed Assets Label Laser options to print bar code labels for previously entered assets. Use the Unassigned Item # Label Laser options to print bar code labels for item numbers that have not been assigned. This option is most useful when you are just beginning to use the ACS Fixed Assets module and assigning item numbers to assets that you have not entered into Fixed Assets.
29
ACS Version 10.6 - Fixed Assets
What Prints on Fixed Asset Labels? Fixed Asset labels can be customized to display various information. Label information can be changed through Label Layout on the Setup tab. Click to see the information that can be displayed on up to five lines of the Fixed Assets Label Laser labels. •
Bar Code
•
Item Number
•
Item Description
•
Make
•
Model
•
Type Code/Desc.
•
Quantity
•
Location Code/Desc.
•
Serial Number
•
Condition Code/Desc.
•
Department Code/Desc.
•
Tax District Code/Desc.
•
Warranty Description
•
Warranty Expiration Date
•
Acquired Date
•
Retire Date
•
Category Code/Desc.
•
Depreciation Type Code/Desc.
•
Dataset Name
•
Dataset Phone 1
Click to see the information that can be displayed on up to five lines of the Unassigned Item # Label Laser labels.
30
•
Bar Code
•
Item Number
•
Dataset Name
•
Dataset Phone
Fixed Assets
Fixed Assets Label Layout To help you keep track of your organization's assets, you can print bar code labels on your laser printer. From the Label Layout option on the Setup tab, you can select the information that you want to display on the labels. You can print 2-Up and 3-Up laser bar code labels for assets that are already in the system. You can also print unassigned item number labels for items that are not yet assigned. This is useful when you are just beginning to use the Fixed Assets module and assigning item numbers to assets. You can choose any five of the following options for the Fixed Assets Label Laser (2-Up and 3-Up) labels: •
Bar code
•
Item Number
•
Item Description
•
Make
•
Model
•
Type Code/Desc.
•
Quantity
•
Location Code/Desc.
•
Serial Number
•
Condition Code/Desc.
•
Department Code/Desc.
•
Tax District Code/Desc.
•
Warranty Description
•
Warranty Expiration Date
•
Acquired Date
•
Retire Date
•
Category Code/Desc.
•
Depreciation Type Code/Desc.
•
Data set Name
•
Data set Phone 1
You can choose any of the following options for the Unassigned Item # Label Laser labels: •
Bar code
•
Item Number
•
Dataset Name
•
Dataset Phone
31
ACS Version 10.6 - Fixed Assets
Viewing a List of Available Labels You can select the report options you want to include when printing your labels. You can print up to five lines of information on each label. For each line of information, you can select one of twenty ACS data fields to print. You can print the ACS field description or a description of your own. The following table lists the label formats that you can print in the ACS Fixed Assets module. Label
Description
Fixed Assets Label Laser (2-Up)
Avery 5161 / ACS 12220 Address Labels: 4" x 1", Paper Size: 8-1/2" x 11" Letter (2 x 10 labels per sheet).
Fixed Assets Label Laser (3-Up)
Avery 5160 / ACS 12215 Address Labels: 25/8" x 1", Paper Size: 8-1/2" x 11" Letter (3 x 10 labels per sheet).
Unassigned Item # Label Laser (2-Up)
Avery 5161 / ACS 12220 Address Labels: 4" x 1", Paper Size: 8-1/2" x 11" Letter (2 x 10 labels per sheet). Print for items that are not in Fixed Assets and import using the ACS bar code scanner.
Unassigned Item # Label Laser (3-Up)
Avery 5160 / ACS 12215 Address Labels: 25/8" x 1", Paper Size: 8-1/2" x 11" Letter (3 x 10 labels per sheet). Print for items that are not in Fixed Assets and import using the ACS bar code scanner.
Getting an Overview of the Label Layout You can print 2-Up and 3-Up laser bar code labels to help you keep track of your assets. You can use the Fixed Assets Label Laser options to print bar code labels for previously entered assets. Use the Unassigned Item # Label Laser options to print bar code labels for those items with no assigned item numbers. These options are the most useful when you are just beginning to use the ACS Fixed Assets module and assigning item numbers to assets that are no yet entered into Fixed Assets. You can customize the Fixed Asset labels to display various information. Click the Label Layout button on the Options tab to enter the information that you want to print on the labels. You can add up to five lines of information on each label. You can choose the ACS field to print on each line and select to print the ACS field description, or enter your own text. You can also select to print no information at all on a line. If you select for a line on the label, ACS prints this line as all spaces and the line displays as blank on the label.
32
Fixed Assets
Label Layout Line 1 through Line 5 — Select the field that you want to print on the designated line. If you select in a label field, nothing prints on the line. The label layout has a predefined list of label fields: •
•
Bar Code
•
Item Number
•
Item Description
•
Make
•
Model
•
Type Code/Description
•
Quantity
•
Location Code/Description
•
Serial Number
•
Condition Code/Description
•
Department Code/Description
•
Tax District Code/Description
•
Warranty Description
•
Warranty Expiration Date
•
Acquired Date
•
Retired Date
•
Category Code/Description
•
Depreciation Type Code/Description
•
Dataset Name
•
Dataset Phone 1
Show Desc. — Select to print the field description and the data in the field. Text — Select to enter text on a particular line. If you select Text and do not enter anything, nothing prints on the line.
Customizing and Printing Fixed Assets Labels If you use the label scanner, using labels for your fixed assets can make taking inventory a much quicker job. You can print labels at any time. ACS provides four options for printing fixed assets labels on a laser printer.
33
ACS Version 10.6 - Fixed Assets
After previewing the labels, you can click Customize to change the label layout if you decide that changes are needed. You can access the Customize option in the following methods: •
After previewing the report, click Customize in the report menu bar.
•
Right-click the report list, then click Customize.
To print labels 1. Under Generate Reports, click the Labels tab. 2. In the drop-down list, select Asset Labels. 3. Click Go
.
4. Under Reports, select a label format. 5. Click Customize. 6. Optional: Make any selections that you want on the Options tab. 7. Click Label Layout. 8. Select the fields that you want to print on each line of the labels. For more information on the available fields, see Getting an Overview of the Label Layout. 9. To close the Label Layout window, click OK. 10. Click OK, again. 11. Click Print
.
12. Optional: To save your label settings, click
.
13. To exit, click Close.
Printing Fixed Asset Labels You can print labels for previously entered assets in Fixed Assets. Once the labels are printed, you can affix them to the items for taking inventory using the bar code scanner. To print Fixed Asset labels 1. Under Generate Reports, click the Labels tab. 2. In the drop-down list, select Asset Labels. 3. Click Go
.
4. Under Reports, select the Fixed Assets Label Laser (2 Up) or Fixed Assets Label Laser (3 Up). 5. To customize the labels, click Customize. 6. Optional: To select the fields that print on the label, click Label Layout. If nothing is selected, the following default fields print:
34
Fixed Assets
•
Bar Code
•
Item Number
•
Item Description
•
Dataset Name.
7. Click Print.
Printing Labels for Unassigned Item Numbers You can print labels for unassigned item numbers. These are item numbers that have not been assigned to assets in Fixed Assets. Once the labels are printed, you can affix them to new items for taking inventory using the bar code scanner. To print labels for unassigned items 1. Under Generate Reports, click the Labels tab. 2. In the drop-down list, select Asset Labels. 3. Click Go
.
4. Expand Labels, then select the unassigned label report that you want to print. 5. Click Customize. 6. Optional: Make the selections you want for the labels. 7. To select the fields to print on the labels, click Label Layout. If nothing is selected, the following fields print on the labels: •
Bar Code
•
Item Number
•
Dataset Name.
8. Click OK.
Reports Printing a Report When you choose to sort your reports by any option other than description or code, you get the option to page break by the selected sort option. For example, when you choose to sort by categories, you can select the Page Break on Category option to receive a separate printout for each category. To print a report 1. Under Generate Reports, click the Reports tab. 2. In the drop-down list, select Fixed Assets.
35
ACS Version 10.6 - Fixed Assets
3. Click Go
.
4. Select the report you want to print. 5. Make the necessary selections on the Options tab. 6. Click Preview. 7. Click Print
.
Previewing Reports You can preview a report in the window before printing. Previewing a report makes sure it contains the information you want or need. To preview a report 1. Under Generate Reports, click the Reports tab. 2. In the drop-down list, select Fixed Assets. 3. Click Go
.
4. Select the report you want to print. 5. Optional: Click Customize and make the necessary selections.
Note
When you choose to sort your reports by any option other than description or code, you will get the option to page break by the selected sort option. For example, when you choose to sort by categories, you can select Page Break on the Category option to receive a separate printout for each category.
6. Click Preview.
Viewing the Available Fixed Assets List Reports The ACS Fixed Assets module provides the following list reports to help you keep track of your fixed assets. You can print these reports any time. Report
36
Description
Fixed Assets Additions Report
This is a list of fixed assets added to your organization's inventory during a specified range of dates.
Fixed Assets List
This is a complete list of your organization's fixed assets.
Fixed Assets Maintenance List
This is a list of maintenance history on
Fixed Assets
your fixed assets. Fixed Assets Master List
This is a complete and detailed list of your organization's fixed assets.
Fixed Assets Retirement Report
This is a list of fixed assets retired during a specified range of dates.
Fixed Assets Totals List
This is a detailed listing that separates your organization's fixed assets and depreciation information. You can customize this report to separate assets by tax district.
Location/Department/Condition Bar Code List
This is a listing of bar codes for all locations, departments, and conditions. This listing is used when scanning assets.
Report Options Getting an Overview of the Fixed Assets Report Options Tab When you print any of the Fixed Assets list reports or print labels for your fixed assets, you can customize the reports and labels to meet the needs of your organization. Select options on the Report Options tab to customize your report and labels. Some of the options are not available for all reports. The following sections give you an overview of the options on the Report Options tab: Report Title Title — Displays the title of the report. You can change the ACS title to one of your own. Print Date — Displays the current date. You can change the Print Date of a report so that a different date displays for Date Printed. This is useful if you are generating reports a couple of days in advance for a committee meeting. However, keep in mind that changing the print date does not affect the information in the report. Once the report is generated, the information does not change, regardless of the Print Date. Report Options Sort By — Click in the Sort By box and select the order in which you want the report information sorted. The available options are: •
Description — Fixed assets are sorted in alphabetical order by item description.
•
Code — Fixed assets are sorted in alphanumerical order by item code.
•
Category — Fixed assets are sorted by their function group.
•
Condition — Fixed assets are sorted by their repair status. 37
ACS Version 10.6 - Fixed Assets
•
Department — Fixed assets are sorted by the general ledger department to which they are assigned.
•
Tax District — Fixed assets are sorted by the municipal government where they are located.
•
Depreciation Type — Fixed assets are sorted by the depreciation method assigned to them.
•
Type — Fixed assets are sorted by their identity group.
•
Location — Fixed assets are sorted by their assigned location.
Page Break — To direct ACS to insert a page break when encountering a different list type, select the check box. The list types are: •
Category
•
Condition
•
Department
•
Tax District
•
Depreciation Type
•
Type
•
Location
Print Bar Code — If you want to include the assets' bar codes when printing the Fixed Assets Lists report, select the check box. Print Uppercase — If you want to print the information in all capital letters when printing labels, select the check box. Start Printing at Label — Select the number of the label where you want to begin printing. Starting Item # — When printing labels for items with unassigned item numbers, select the item number where you want to begin printing. Number of Labels — When printing labels for items with unassigned item numbers, select the number of labels that you want to print. Fixed Asset Options Include Inactive Items — To include items in the report that are no longer active, select the check box. Print Multiple Labels (per asset Quantity) — To print more than one label for multiple items of the same asset, select the check box. For example, if you own three laser printers with the same model number, you can print three labels at once with this option. Search on Acquire Date — To perform a search for one or all assets purchased or acquired on a particular date or a range of dates, select the check box. Enter the dates you want to use for the search. To search on one date, enter the same date in the Beginning Date and Ending Date fields. Beginning Date — Enter the first date you want to use in your search. You can also select a date in the calendar.
38
Fixed Assets
Ending Date — Enter the last date you want to use in your search. You can also select a date in the calendar. Asset Category — To include only certain items in the asset category list, select the check box. Click Select and choose the items that you want in the report. Condition — To include only certain items in the condition list, select the check box. Click Select, and choose the items that you want in the report. Department — To include only certain items in the department list, select the check box. Click Select, and choose the items that you want in the report. Tax District — To include only certain items in the tax district list, select the check box. Click Select, and choose the items that you want in the report. Type — To include only certain items in the type list, select the check box. Click Select, and choose the items that you want in the report. Location — To include only certain items in the location list, select the check box. Click Select, and choose the items that you want in the report. Depreciation Type Straight Line — To include only assets using the straight line method of depreciation, select the check box. Double Declining Balance — To include only assets using the double declining balance method of depreciation, select the check box. Sum of Year's Digits — To include only assets using the sum of year's digits method of depreciation, select the check box. Custom — To include only assets using a custom method of depreciation, select the check box. Click Select and choose a custom depreciation method to include in the report. All — To include all assets regardless of the method of depreciation, select the check box. Depreciation Frequency Monthly — To include only assets with depreciation expense calculated on a monthly basis, select the check box. Yearly — To include only assets with depreciation expense calculated on a yearly basis, select the check box. All — To include all assets regardless of when depreciation expense is calculated, select the check box. Maintenance Status Complete — To include only assets with a completed maintenance record, select the check box. Incomplete — To include only assets with maintenance items that are not complete, select the check box. All — To include all assets regardless of the maintenance record, select the check box.
39
ACS Version 10.6 - Fixed Assets
Customizing Fixed Assets Reports on the Options Tab Use the Options tab in Fixed Assets Reports for configuring your report to meet the needs of your organization. You can access the Options tab in the following ways: •
Select the report, then click Customize.
•
Preview the report, then click Customize in the report menu bar.
•
Right-click in the report list, then click Customize.
To customize reports on the Options tab 1. Under Generate Reports, click the Reports tab. 2. In the drop-down list, select Fixed Assets. 3. Click Go
.
4. Expand the report type and select the report you want to view or print. 5. Click Customize. 6. Select the options and fields that you want for your report. For more information about the options and fields, see Getting an Overview of the Fixed Assets Report Options Tab. 7. Click OK.
Saving Report Settings After you customize a report, you can save your report settings by renaming the report. You must then save the report with the new name.. To save report settings 1. Set up the report with the selections that you want. 2. Click OK. 3. After verifying the report meets your needs, click Close. 4. Click Yes. 5. In the Save As box, enter a new name for the report. 6. Optional: Enter a description of the report. 7. Optional: To designate the report as a public report, select the Public check box. 8. Click Save. The new report is now listed under the original report.
40
Fixed Assets
Deleting a Saved Report You can delete your saved custom reports when you no longer need the particular report settings. You cannot delete any of the ACS standard reports. To delete a saved report 1. UnderGenerate Reports, click the Reports tab. 2. In the drop-down list, select Fixed Assets. 3. Click Go
.
4. Under Reports, select the user-defined report you want to delete. 5. Click Delete. 6. Click Yes to delete the report.
Exporting a Report You can export a report for use with another software program. When you export a report, the information is in a text format. If you want to use the data to perform additional calculations, such as totaling dollar amounts in a spreadsheet, consult the documentation for the software you are using. For example, if you are exporting to Microsoft® Excel® consult Excel's documentation.
Note
To export a report to another software package 1. Preview the report you want to export. 2. Click Print
.
3. Select Print to File and select the type and location of the file to export. 4. Click OK.
Scanning Fixed Assets About the Portable Bar Code Scanner ACS Technologies offers a portable bar code scanner (the CPT-711C Portable Data Terminal) to make adding and maintaining assets easier and more convenient. This scanner comes to you pre-programmed to work with the Fixed Assets module. It comes with a docking cradle, adapter, and RS232 cable. You can use the scanner to scan bar code labels to track inventory on existing assets or enter information for new assets. Once all information is entered into 41
ACS Version 10.6 - Fixed Assets
the scanner, it can be imported into Fixed Assets to keep all of your information current.
Note
Only one program can be run on the scanner at a time. If you mark attendance in ACS with a bar code scanner, ACS Technologies recommends that you use a separate scanner.
Understanding the Bar Code Scanner Utilities The bar code scanner uses utilities related to Fixed Assets. Press 3. Utilities on the scanner to access these utilities. Below are some of the Bar Code Scanner Utilities: System Settings — Use this utility to set the Upload Port and the Download Port. The RS232 cable is the default for uploading and downloading data. Browse Data — Use this utility to browse scanned items. Delete Data — Use this utility to delete all data or the last record scanned. Download Program — Use this utility in conjunction with the Bar code Emulator to download the Fixed Assets program to the scanner. When you receive the scanner, the Fixed Assets program is already loaded on the scanner. Using this utility overwrites any data that is in the scanner.
Understanding the Import File Format The Import File is a comma separated text file. The following record descriptors are recognized in the import file: , , and . - Specifies a change in the current location and department for records with a descriptor of . records that follow a record use that location and department for importing. If the import file does not have a record, records will not have an associated location or department. Fields are [, Location Code, Department Code]. - Specifies an asset that needs to be added to the Fixed Assets. Fields are [, Item Number, Item Description, Make, Model, Serial Number, Quantity, Condition Code]. For example, the highlighted text in the following graphic allows you to import a new item into Fixed Assets.
42
Fixed Assets
The item appears in ACS as follows:
- Specifies an update to an existing asset in Fixed Assets. Fields are [, Item Number, Item Description, Location Code, Department Code, Quantity, Condition Code]. For example, the highlighted text in the following graphic allows you to change an existing item in Fixed Assets.
Before the import, the item appeared as shown in the following graphic.
43
ACS Version 10.6 - Fixed Assets
After the import, the item appears as shown in the following graphic. Notice that the condition and department have changed.
44
Fixed Assets
If a record does not import properly, you can click the Errors tab and review the list errors that cannot be imported. You must correct these records to complete a successful import. The following table lists the specifications for an import file: Field Item Number
Length 6 characters (can be a combination of alpha and numeric characters)
Item Description
35 characters (can be a combination of alpha and numeric characters)
Make
35 characters (can be a combination of alpha and numeric characters)
Model
30 characters (can be a combination of alpha and numeric characters)
Serial Number
30 characters (can be a combination of alpha and numeric characters)
Quantity
6 characters (can be a combination of alpha and numeric characters)
Condition Code
3 characters (can be a combination of alpha and numeric characters)
Department Code
3 characters (can be a combination
45
ACS Version 10.6 - Fixed Assets
of alpha and numeric characters) Location Code
3 characters (can be a combination of alpha and numeric characters)
The characters listed in the Length column are the maximum amount for each field.
Adding New Assets Using the Bar Code Scanner You can add new assets using the bar code scanner. If you want to scan assets using bar codes, you can enter locations, departments, and conditions in Define Lists. Locations and conditions are located in Fixed Assets Define Lists. Departments are located in General Ledger Define Lists. Print the Location/Department/Condition Bar Code List report from Fixed Assets Reports before you add new assets with the bar code scanner. To add new assets using the bar code scanner 1. Press 1.Collect Data. 2. Press 1.Add New. 3. Scan the location and department on the Location/Department/Condition Bar Code List report. 4. Scan each asset's bar code label for that location and department, and enter any necessary information. 5. When necessary, press ESC to scan a new location and department.
Maintaining Assets Using the Bar Code Scanner You can maintain or take inventory of assets previously entered into Fixed Assets. Before you scan your assets, export asset information and download it to the bar code scanner. Creating the export file 1. Under Manage Records, click the Records tab. 2. In the drop-down list, select Add/Edit Fixed Assets. 3. Click Go
.
4. Click Import. 5. Click Export Fixed Assets to Lookup File. 6. Click Next. 7. Select a location to save the file, and enter a file name. 8. Click Save. Downloading the file to the scanner 1. On the bar code scanner, press 3.Utilities. 46
Fixed Assets
2. Press 8.Download Lookup. 3. On your desktop, locate and double-click CPT Scanner. The bar code emulator displays. 4. Click Menu. 5. Click Download Lookup File Via RS-232 or IrDA. 6. Find the export file that you created, and click Open. A message displays indicating that the download is complete. Maintaining or Taking Inventory 1. On the bar code scanner, press 1.Collect Data. 2. Press 2.Maintain. 3. Scan the item's bar code label. The asset item information displays. 4. Optional: To edit the item's description, scan a new location, department, or condition using the Location/Department/Condition/Bar Code List report. You can also edit the quantity.
Note
If you have multiple items labeled with the same bar code number, they share one record in Fixed Assets. Scan one of the items and set the quantity, or increase the quantity by one as you scan each item. If you scan each of the items separately, only the last item scanned is imported.
Importing Data Using the RS232 Cable You can import information into the ACS Fixed Assets module that you collected using the bar code scanner. You must upload the data from the scanner before you import it. The preferred method of importing data is using the RS232 Cable. To upload data from the scanner to a file 1. On the bar code scanner, press 2. Upload Data. 2. On your desktop, double-click the CPT Scanner button. 3. Click Menu. 4. Click Receive Data Via RS232-or IrDA. 5. Select a location to save the file and enter a name. 6. Click Save. 7. Click OK.
47
ACS Version 10.6 - Fixed Assets
8. A prompt displays on the scanner to delete the imported data. Press the All Data option on the scanner. 9. Click Finish. 10. Click Yes. To import the uploaded file 1. Under Manage Records, click the Records tab. 2. In the drop-down list, select Add/Edit Fixed Assets. 3. Click Go
.
4. Click Import. 5. Click Import From File. 6. Click Next. 7. Find the import file that you created and click Open. 8. The Ready to Import window displays with the items to import. You can change all displayed information, except the item number. 9. Optional: Errors in the import file display in red on the Errors tab indicating the problem. Once you correct the errors, they automatically move to the Ready to Import tab. 10. Optional: Click Print to print a list of the items. 11. Click Finish to import the items. Items on the Errors tab are not imported.
Importing Data Using a Keyboard Wedge You can import information into Fixed Assets that you collected using the bar code scanner. You must upload the data from the scanner before you can import it. An alternate method of importing data is using the keyboard wedge. The keyboard wedge enables you to upload data directly from the scanner. The keyboard wedge must be connected before the upload begins. To set the upload port on the scanner 1. On the bar code scanner, press 3. Utilities. 2. Press 1. System Settings. 3. Press 1. Setup Upload Port. 4. Press 4. Keyboard Wedge. To import the uploaded file 1. Under Manage Records, click the Records tab. 2. In the drop-down list, select Add/Edit Fixed Assets. 3. Click Go
.
4. Click Import.
48
Fixed Assets
5. Click Import From Scanner. 6. Click Next. 7. On the barcode scanner, press 2. Upload. 8. The bar code scanner displays the records being transferred. The word "Done" displays when the records are transferred. You also hear a beep indicating the transfer is complete. 9. A prompt to delete the imported data displays on the scanner. Press the All Data option on the scanner. 10. In ACS, the Ready to Import window displays with the items to import. 11. Optional: Errors in the import file display in red on the Errors tab indicating the problem. Once you correct the errors, they automatically move to the Ready to Import tab. 12. Optional: Click Print to print a list of the items. 13. Click Finish to import the items. Items on the Errors tab are not imported.
49
Glossary A A/P Check Source: You may define a default check source for the Accounts Payable module. The system defaults to this source when you are ready to post checks to General Ledger. This is a default value only. If you need to select a different check source for a specific check or batch of checks, it may easily be changed from the Post Checks option. Account: A record of financial transactions for one specific portion of an organization, which shows inflow and outflow of dollar amounts. Account Code: A code assigned to an account used to locate, identify, and store data in the correct place within the General Ledger. Account numbers can be up to 20 characters and can be alphabetical or numerical. Account Inquiry: A way of attaining data, through display, of all financial transactions within an account, along with various other information that can provide a complete picture of an accounts current and past activity. Account Type: A description of the function of an account within the accounting system. In ACS for Windows General Ledger account types are called Major Headings. Accrual Source: You may define a default accrual source for the Accounts Payable module. The system defaults to this source. Accumulated Depreciation: Refers to the total, cumulative amount of depreciation expense that has been recorded since the fixed asset was acquired. The purpose is to show how much of the total cost a fixed asset has been depreciated over time. Acquired Date: The date the fixed asset was obtained by the organization. You can also track whether it was donated by an individual or group, or purchased outright by the organization. Addition: An adjustment which adds a certain amount or percentage to an employee's wages. Adjustments: A recording of the completed part of a continuous transaction that occurs over time. Adjustments (Payroll): A customized amount or percentage that modifies an employee's wages. The three types of adjustments are an Addition to an employee’s wages, a Deduction to an employee’s wages, a Contribution to specific General Ledger accounts (does not affect employee wages). Area 1: An area that can be used to group accounts together for reports even if the accounts are in different funds.
51
ACS Version 10.6 - Fixed Assets
Area 2: An area that can be used to group accounts together for reports even if the accounts are in different funds. Asset: 1. An economic resource belonging to an organization. Assets can be cash, cash in the bank, savings, bonds, investments, equipment, land, etc. 2. A particular Major Heading (account type).
B Backup: Preserves copies of files on a different drive, directory or media to protect against the destruction or loss of the original files in the event of hardware or system failure. Bank Accounts: Accounts your organization has established at a financial institution. Batch: A group of Time Sheet records that can be recalled and posted at any point in time. For example, you can set up a recurring batch named "Standard Payroll" that contains all your normal payroll information. Billing Address: The address to which payments are sent. Billing Code: A code used to define each type of billing. Bookkeeping Month: The calendar month for which you are entering financial transactions into the General Ledger. This month does not necessarily have to be the same as the current month. Budget (monthly): An amount belonging to an account that indicates the anticipated inflow and outflow of funds during a calendar month. Budget (yearly): An amount belonging to an account that indicates the anticipated annual inflow and outflow of funds.
C Cash Journal Entry: A journal entry that described the effect of a cash transaction on the accounts of an entry. Chart of Accounts: A list showing all account descriptions, account codes, and Major Headings (account types) that exist in the General Ledger. Check Date: The date printed on the check. Check Entry: A transaction that is based on a check stub. Check Reconciliation: A comparison of a bank statement with the organization’s general ledger conducted to identify errors and necessary adjustments Closed Transactions: Transactions which have been entered into the ledger and have been posted to the desired period. These transactions cannot be changed. Closing Account: The account to which other accounts are closed into at the end of a period in order to reduce the account balances to zero Committees: An area to which accounts of a specific type are assigned so that they can be grouped together by reports, even if the accounts are in separate funds. Common Law Employees: An individual who performs a service for you, if you have control over how those services are performed. Condition: A user-defined element used to describe the actual physical condition of the asset (poor, fair, good, excellent, etc.). Contact: An individual to whom you can address questions or concerns. Continue Payments: This option is available for memorized invoices. Select this option if you wish to pay this invoice for an indeterminate time period. Contribution: An adjustment which is an employer contribution to specific General Ledger accounts. This adjustment does not affect employee wages. Cost Centers: A Cost Center is used to define which General Ledger accounts to debit and credit for each Time Sheet entry. You can associate Cost Centers with each employee's record in order to track wages and other compensation. Credit: A transaction amount that appears in the right hand column of an account record.
52
Glossary
Credit Memo: A credit adjustment applied to an invoice. Customer: An individual being provided goods or services.
D Debit: A transaction amount that appears in the left hand column of an account record. Debit Memo: A debit adjustment applied to an invoice. Deduction: An adjustment which subtracts a certain amount or percentage from an employee's wages. Department: An area to which accounts of a specific type are assigned so that they can be grouped together by reports, even if the accounts belong to different sets of funds. Department (F/A): An area to which assets of a specific type or location are assigned. For example, departments can be Administration, Education, Maintenance, Accounting, or Music. Deposit: A transfer of funds from the originator into the bank account. Depreciable Basis: Refers to the dollar amount from which an asset's depreciation is calculated. This can be the original cost of a recently purchased item, or the estimated current value of a donated item. Depreciation Methods: The three most popular methods of calculating depreciation are, Straight Line Depreciation, Double Declining Balance Depreciation, and Sum of the Year’s Digits Depreciation. Direct Deposit: A deposit which is made electronically. Direct Withdrawal: A payment or withdrawal made without a check. Disbursed: The amount of the invoice that is disbursed to the appropriate expense accounts. Discount: A discount is a percentage of the invoice that is deducted if the invoice is paid by a certain date. For example, you receive a discount of 2.5% if an invoice is paid within 15 days. Discount (A/R): An amount deducted from the amount billed if the invoice is paid by the terms specified at the time of billing. This amount is entered when posting payments. Discount Date: The date by which the invoice must be paid in order to receive a discount. Discounts Taken: You have the option to track discounts taken, which disburses all discounts to an account which you designate.
E Employee Record: The master file which contains all pertinent information regarding an employee. Enter (Transactions): The process of typing data regarding financial transactions into the computer. This is different from posting transactions. When transactions are entered into the computer they remain in a collective file and wait to be disbursed into the proper account during posting. Expense: A type of account that reflects the cost of operating such as Utilities, Salary or Postage. Expense Account: The default expense account that displays when adding an invoice for this vendor.
F Fixed Assets: Anything of value owned by your organization, including but not limited to land, buildings, tools, furniture, machinery, and vehicles. Force Payment: An option which forces payment of an invoice the next time checks are printed.
53
ACS Version 10.6 - Fixed Assets
Form 1099: A form required by the Internal Revenue Service for vendors who meet certain requirements as specified by the United States Tax Code. Form 941 Worksheet: The 941 Worksheet aids an employer in calculating the required information in Form 941. Frequency: A recording of how often an asset will have its depreciation calculated. Fund Accounting: Fund Accounting is the use of funds as separate sets of books. Fund Code: A three character code used to separate accounts or different sets of financial books. Fund Principal Account: The resources of an organization (comparable to owner’s equity in a business). The Fund Principal is equal to the difference between the Assets and Liabilities. All Revenue and Expense accounts are closed to a Fund Principal account at the end of a year. Although the Fund Principal heading is a Major Heading, it is also a Liability. In order for the balance sheet to print correctly, you must have your Fund Principal accounts located under the Fund Principal heading.
G Global Amount: The default amount of the adjustment which affects all occurrences of the adjustment. Global Limit: The default maximum limit of the adjustment.
H Headings: An account description that serves as a the main heading for an account type group. such as Assets and Liabilities. Historical Cost: This is the original value/price of the fixed asset at the time of its acquisition.
I Inquiry: A method of viewing and printing accounts only, neither transactions nor accounts may be edited. Invoice Filter: Invoice filters are used to control which invoices display on the Add/Edit screen. For example, you may wish to view only posted invoices, only invoices entered for a particular vendor, or invoices with a range of discount dates.
J Journal: A form of report. Journal Entry: A transaction entry that is not from a check or a deposit. Corrections and adjustments are examples of Journal Entries.
L Late Charges: Charges generated when an invoice goes unpaid for more than thirty days. Late charges can be generated from Add/Edit Invoices. The amount of the late charge is determined by the percentage stated in Setup. Liability: A type of account that reflects a debt owed, such as goods or services bought on credit or time. Life: This is the estimated time, expressed in years, that a fixed asset will hold useful value for your organization. After this period, the asset is usually retired and sold for its salvage value. List: 1. A form of report. 2. Areas of categorization used to cross-reference accounts.
54
Glossary
M Maintenance: Section where records of an asset's maintenance history is recorded. Important records, such as oil changes, tune ups, and repairs are logged here. Memorized Transaction: A transaction which is used frequently in your organization can be memorized so that it need not be entered multiple times.
O One time Vendor: A vendor who is paid either one time only, or very infrequently. An invoice may be entered and posted for a one time vendor without storing the vendor record in the system. Open Transactions: An open transaction is a transaction which has been entered but not yet posted to the General Ledger. Other Expense: A type of account that reflects a cost of operating that is not a regular or expected expense, i.e. non-budgeted. Other Revenue: A type of account that reflects amounts received by an organization that are not part of the regular anticipated source of revenue or income, i.e. non-budgeted.
P Partial Amount: An amount due on an invoice which is a fraction of the total disbursement of the invoice. For example, you may wish to suspend one or more disbursements of an invoice if the vendor’s obligation has not been met. Pay Periods: The period of time for which an employee is paid for services rendered. Pay Through Date: The date the system uses to determine which invoices are paid. Invoices with a due date on or before the Pay Through Date are paid, unless payment has been suspended. Pay Types: Pay Types define a category of pay and taxes which are applicable to that category. The Pay Types are then associated with an employee's record to define amounts which are subject to various taxes. Payables: An amount that is owed to a provider of a good or service that is due sometime in the near future. Payees: Payees are individuals or companies to whom you owe a dollar amount in return for a purchased good or service. When you are entering Check transactions, you must specify the Payee for the check. Period End Procedures: Steps which you should perform at the end of each month and year in order to ensure the ledger is kept accurate and is in line with Generally Accepted Accounting Principles. Permanent Restricted: A restricted account, such as a donation in the form of a grant, that one can only use the interest on the principal, but cannot use the principal itself. Post (Transactions): The computer action of placing all financial transactions that have been entered into the proper General Ledger accounts to provide an accurate record of the organizations financial business. This closes all open transactions. Posting Journal: A record of all posting activity for the desired period. Project: A three character code that allows you follow transactions that belong to a specific project and then report on the financial status of that project. For example, if your organization is renovating a building, you can attach Project Codes to all transactions (or parts of transactions) that deal with building renovations. Proof List: A list of open transactions, primarily used as a method of checking transactions to ensure accuracy.
R Receivables: An amount that is due for goods or services rendered.
55
ACS Version 10.6 - Fixed Assets
Restricted Accounts: Accounts which are amounts designated for a single use only, i.e. renovations, flowers, community projects. Retire Date: The date on which a fixed asset's useful life has expired. Revenue: A type of account that reflects amounts received by an organization in the form of contributions and donations, which are the regular economic resources for that organization. Revenue Center: A code used to define each income account set up in General Ledger.
S Salvage Value: The estimated dollar value an asset still holds after its useful life has expired. Separate Payments: An option which, if selected, results in a separate check for each invoice to a single vendor in a check run. If this is not selected, all invoices for this vendor, in the same check run, are paid with one check. Setup: The process of setting up the General Ledger by providing the system with items such as the date, account formats, transaction options, etc. Source (Transaction): A Source is the journal origin of a transaction entered into the General Ledger. These codes can be used to separate transactions for viewing and reporting purposes. Source Type: The Source Type of the transaction is the category of origination the Source is associated. There are 10 default sources, but the user can add additional sources at any time. However, the default Source Types cannot be changed. They are Adjustment, Check, Deposit, Direct Deposit, Direct Withdrawal, Bank Transfer, Bank Interest, Bank Charge. Statutory Employees: An individual who works for you, but is not covered under the common law definition. Statutory employees are considered employees for Social Security, Medicare, and FUTA taxes under certain conditions. Street Address: The physical address of the vendor. Sub Heading: You may define up to four levels of Sub Headings. Sub Headings are used to determine the placement of accounts on reports. Subtotal: Allows you to subtotal subheadings which groups those accounts into one total for the Detailed Analysis Reports. This allows you to print detail and summary information on one report. Suspending Payments: An option which, if selected, results in not paying the invoice until the option is deselected.
T Tax Accounts: The General Ledger accounts to which taxes are disbursed for both employee and employer. Tax District: A user-defined field, used to separate asset and depreciation information for report purposes. Tax Tables: A complete set of applicable Federal and State taxes that affect your payroll operations. Additional tax tables may be added to reflect Local Taxes. Temporary Restricted: A restricted account, such as a gift designated for a certain purpose. Time Sheets: An accounting of the hours worked in a specific pay period, for a group of employees. Toolbar: A row of icons or buttons which serve as shortcuts to certain menu functions.
V Vendor: A vendor is a provider of the good or service which your organization purchases.
56
Glossary
Vendor Code: A unique code that is assigned to each vendor. Vendor Type: A 3 character code defined by the user to group types of vendors together, such as Utilities, Caterers and Florists.
W W-2 Form: A form detailing wages and taxes for an employee for a given year. Worker's Compensation Category: A job type description that takes into account an individual's risk of injury while performing their duties. Worker's Compensation Code: A code that is either published by the state governing body and given to you by your insurance provider or a unique six character code that you define.
57
Index
59
A Accumulated........................................... 19 Accumulated Depreciation ......... 18, 19, 20
Bar Code Scanner................ 38, 43, 44, 45 Bar Code Scanner/Adding Assets.......... 43 Bar Code Scanner/Utilities ..................... 38
Add ..................... 2, 3, 4, 11, 13, 14, 22, 43
C
Add New................................................. 43
Cable/RS232 .............................. 38, 44, 45
Add/Edit Fixed Assets ... 11, 13, 14, 15, 16, 17
Calculate Depreciation ....................... 1, 26
Add/Enter Fixed Assets............................ 1 Adding Assets ................................................ 11 Categories ......................................... 13 Maintenance Records........................ 14 Adding .............................................. 2, 3, 4 Adding .................................................... 11 Adding .................................................... 13 Adding .................................................... 14
Calculating Depreciation .................. 24, 25 Calculating Depreciation/Outline...... 25, 26 Calculating/Depreciation ........................ 24 Categories Adding................................................ 13 Deleting.............................................. 16 Updating .............................................. 5 Categories .............................................. 13 Categories .............................................. 16
Adding .................................................... 22
Category Updating ............................................ 16
Adding Assets ........................................ 43
Category................................................... 5
Adding Assets/Bar Code Scanner.......... 43
Category................................................. 16
Adding/Asset Categories.......................... 2
Category................................................. 16
Adding/Conditions .................................... 3
Clear Current Calculations ..................... 25
Adding/Depreciation Methods ................ 22
Clearing .................................................. 25
Adding/Locations...................................... 4
Clearing Unposted Calculations............. 25
Adding/Tax Districts ................................. 4
Close Current Month .............................. 26
Asset Book Value ....................... 18, 19, 20 Asset Categories ................................ 5, 16
Closing Current Month.................................... 26
Asset Categories List ............................... 5
Closing ................................................... 26
Asset Category......................................... 5
Closing The Current Month .................... 26
Asset Category/Deleting........................... 5
Collect Data............................................ 43
Assets About ................................................. 11 Adding................................................ 11 Deleting.............................................. 15 Deleting Maintenance Records.......... 17 Setting Up The Depreciation Tab ...... 13 Updating ............................................ 15
Conditions Deleting................................................ 6 Updating .............................................. 6
Assets................................................... 6, 9
Conditions ................................................ 7
Assets..................................................... 11
Conditions .............................................. 11
Assets..................................................... 11
Conditions/Adding .................................... 3
Assets..................................................... 13
Conditions/Updating................................. 3
Assets..................................................... 13
Configure.................................................. 1
Assets..................................................... 14
Configuring/GL Interface .......................... 1
Assets..................................................... 15
CPT Scanner.......................................... 43
Assets..................................................... 15
CPT Scanner button............................... 44
Assets..................................................... 16 Assets..................................................... 17
Current Month Closing............................................... 26
Assets..................................................... 23
Current Month ........................................ 26
Assets/Maintaining ................................. 43
Customize ................ 28, 29, 31, 32, 34, 37
Assets/Updating ..................................... 16
Customizing ............. 28, 29, 31, 33, 34, 37
B Bar Code Emulator................................. 38
Conditions ................................................ 3 Conditions ................................................ 6 Conditions ................................................ 6
Customizing Reports ........................ 32, 37 Customizing/Labels.............. 28, 29, 31, 32 Customizing/Options Tab....................... 37
60
Index
Customizing/Reports .............................. 33
Depreciation Methods ............................ 19
D
Depreciation Methods ............................ 20
Define Lists.. 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 22, 23
Depreciation Methods ............................ 22 Depreciation Methods ............................ 22
Define Lists/Asset Categories .............. 2, 5
Depreciation Methods ............................ 23
Define Lists/Conditions..................... 3, 6, 7
Depreciation Methods ............................ 23
Define Lists/Depreciation Lists ............... 22
Depreciation Methods List...................... 23
Define Lists/Depreciation Methods... 22, 23
Depreciation Methods/Adding ................ 22
Define Lists/Location ................................ 9
Depreciation Methods/Deleting .............. 23
Define Lists/Locations .......................... 4, 9
Depreciation Methods/Updating............. 22
Define Lists/Tax Districts.................. 4, 7, 8
Depreciation Tab .............................. 13, 16
Define Lists/Types........................ 4, 10, 11
Depreciation Tables Deleting Depreciation Tables ............ 17
Delete ............. 5, 6, 8, 9, 10, 15, 17, 23, 37 Deleting Assets ................................................ 15 Categories ......................................... 16 Conditions ............................................ 6 Custom Depreciation Tables ............. 23 Maintenance Records........................ 17 Tax Districts ......................................... 8 Deleting .................................................... 5 Deleting .................................................... 6 Deleting .................................................... 8 Deleting .................................................... 9 Deleting .................................................. 10 Deleting .................................................. 15
Depreciation Tables ............................... 23 Depreciation/Accumulated ..................... 19 Depreciation/Calculating .................... 1, 25 Depreciation/Formulas ............... 17, 18, 20 Depreciation/Journal .............................. 24 Depreciation/Outline............................... 26 Depreciation/Post................................... 24 Double Declining .................................... 17 Double Declining Balance ...................... 19 Double Declining Balance Depreciation. 19 Download Port........................................ 38
Deleting .................................................. 16
E
Deleting .................................................. 17
Edit ......................................................... 17
Deleting .................................................. 23
Enter/Post Depreciation ............. 24, 25, 26
Deleting/Asset Category........................... 5
Excel ...................................................... 38
Deleting/Depreciation Methods .............. 23
Export ..................................................... 38
Deleting/Location...................................... 9
Export File .............................................. 43
Deleting/Saved Reports ......................... 37
Exporting ................................................ 38
Deleting/Type ......................................... 10
Exporting Reports ............................ 33, 38
Depreciation Calculating ......................................... 24 Clearing Unposted ............................. 25 Enter/Post .......................................... 24 Posting............................................... 26
Exporting/Reports .................................. 33
F File Format ............................................. 39
Depreciation Formulas ............... 18, 19, 20
Fixed Assets About ................................................... 1 Add/Edit ............................................. 11 Adding................................................ 11 Adding Maintenance Records ........... 14 Deleting.............................................. 15 Deleting Maintenance Records ......... 17 Setting Up The Depreciation Tab ...... 13 Updating Assets................................. 15 Updating Maintenance Records ........ 16
Depreciation Journal .................. 24, 25, 26
Fixed Assets............................................. 1
Depreciation Methods Double Declining Balance.................. 19 Straight Line....................................... 18 Sum of Year's Digits .......................... 20
Fixed Assets............................................. 6
Depreciation Methods ............................ 17
Fixed Assets........................................... 11
Depreciation Methods ............................ 18
Fixed Assets........................................... 13
Depreciation ......................... 11, 17, 19, 23 Depreciation ........................................... 24 Depreciation ........................................... 24 Depreciation ........................................... 24 Depreciation ........................................... 25 Depreciation ........................................... 26
Fixed Assets............................................. 9 Fixed Assets........................................... 11
61
ACS Version 10.6 - Fixed Assets
Fixed Assets........................................... 15
Lists Deleting Conditions.............................. 6 Deleting Tax Districts........................... 8 Updating Conditions ............................ 6
Fixed Assets........................................... 16
Lists .......................................................... 6
Fixed Assets........................................... 17
Lists .......................................................... 6
Fixed Assets........................................... 23
Lists .......................................................... 7
Format .................................................... 39
Lists .......................................................... 8
Formulas .............................. 17, 18, 19, 20
Lists .......................................................... 8
Formulas/Depreciation ........................... 19
Lists .......................................................... 9
Formulas/Double Declining .................... 17
Lists .......................................................... 9
Formulas/Straight Line ........................... 17
Lists ........................................................ 11
G
Lists ........................................................ 23
Fixed Assets........................................... 14 Fixed Assets........................................... 15
Getting Started ......................................... 1 GL Interface.............................................. 1
H
Lists ........................................................ 33 Lists/Conditions........................................ 7 Lists/Depreciation Methods.................... 23
Historical Cost ............................ 18, 19, 20
Lists/Labels ............................................ 29
I
Lists/Locations ......................................... 9
Import ............................................... 39, 44 Import File .............................................. 39 Import File Format .................................. 39 Import From File ..................................... 44 Import From Scanner ............................. 45 Import window ........................................ 44 Import/File Format .................................. 39
Lists/Tax Districts ..................................... 8 Lists/Type............................................... 11 Location.................................... 4, 9, 11, 43 Location/Deleting ..................................... 9 Locations .............................................. 4, 9 Locations/Adding...................................... 4 Locations/Updating .............................. 4, 9
Importing ................................................ 45
M
Importing Data.................................. 44, 45
Maintaining Assets ................................. 43
Inventory............................... 15, 43, 44, 45
Maintenance............................... 14, 16, 17
Item Number..................................... 11, 32
Maintenance Record .............................. 14
Item Number/Unassigned....................... 32
Maintenance Records Adding................................................ 14 Updating ............................................ 16
Item Numbers......................................... 32
J
Maintenance Records ............................ 14
Journal/Printing ...................................... 25
Maintenance Records ............................ 16
K
Maintenance Records ............................ 17
Keyboard Wedge.............................. 44, 45
L
Maintenance Report............................... 14 Maintenance Report/Printing.................. 14 Maintenance Tab ................................... 16
Label..................................... 28, 29, 31, 32
Microsoft Excel ....................................... 38
Label Layout......................... 28, 29, 31, 32
Month End Procedures .......................... 26
Label Layout window.............................. 31
Monthly....................................... 24, 25, 26
Label/Layout........................................... 29
My Saved Reports.................................. 37
Labels................................... 28, 29, 31, 32
O
Labels/Customizing .................... 28, 31, 32 Labels/Layout ................................... 28, 29 Labels/Printing.................................. 31, 32 Layout............................................... 28, 29 Layout/Label........................................... 31 Layout/Labels ......................................... 29
62
Lists ........................................................ 29
Options ................................. 29, 31, 34, 37 Options Tab...................................... 34, 37 Options Tab/Customizing ....................... 37 Options/Reports ..................................... 28 Outline ...................................... 1, 2, 24, 26
Index
Outline/Depreciation............................... 25
Printing Reports ..................................... 32
Outline/Posting ................................. 24, 26
Printing/Asset Categories List .................. 5
Outline/Startup ..................................... 1, 2
Printing/Conditions Lists........................... 7
Overview 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 22, 23, 29, 34
Printing/Depreciation Journal ................. 24
Overview/Asset Categories .................. 2, 5
Printing/Journal ...................................... 25
Overview/Conditions ........................ 3, 6, 7
Printing/Labels ................................. 29, 31
Overview/Depreciation Methods ...... 22, 23
Printing/Lists..................... 5, 7, 8, 9, 11, 23
Overview/Label Layout........................... 29
Printing/Locations Lists ............................ 9
Overview/Location.................................... 9
Printing/Maintenance Report.................. 14
Overview/Locations .............................. 4, 9
Printing/Reports ..................................... 33
Overview/Report Options Tab ................ 34
Printing/Tax Districts Lists........................ 8
Overview/Setup Window .......................... 1
Printing/Type List ................................... 11
Overview/Tax Districts...................... 4, 7, 8 Overview/Types............................ 4, 10, 11
P Page Break....................................... 32, 34 Period End Closing Current Month....................... 26 Month End Procedures ...................... 26
Printing/Depreciation Methods List ........ 23
Public ..................................................... 37 Public Reports ........................................ 37
R Receive Data Via RS232 ....................... 44 Records .................................................. 17 Records/Deleting.................................... 17
Period End.................................. 24, 25, 26
Records/Maintenance ............................ 17
Period End.............................................. 26
Remove .................................................. 16
Period End.............................................. 26
Removing ............................................... 16
Port......................................................... 38
Report Options ..................... 28, 32, 34, 37
Port/Download........................................ 38
Report/Maintenance............................... 14
Port/Upload ............................................ 38
Report/Options ....................................... 32
Post .................................................. 24, 26
Report/Options Tab................................ 34
Post Depreciation ................................... 26 Posting ................................................... 24
Reports Depreciation Journal.......................... 25 Previewing ......................................... 33 Printing............................................... 32
Posting Depreciation ........................ 24, 26
Reports................................................... 25
Posting Menu ................................... 24, 25
Reports................................................... 28
Posting/Depreciation .......................... 1, 26
Reports................................................... 29
Posting/Outline ................................. 24, 26
Reports................................................... 31
Preview............................. 5, 23, 25, 32, 33
Reports................................................... 31
Previewing.............................................. 32
Reports................................................... 32
Previewing Reports .......................... 32, 33
Reports................................................... 33
Print ........................................ 5, 14, 23, 25
Reports................................................... 33
Printing Depreciation Journal.......................... 25
Reports................................................... 34
Post/Depreciation ............................... 1, 24
Printing ............................. 5, 7, 8, 9, 11, 23 Printing ................................................... 25 Printing ................................................... 29 Printing ................................................... 31 Printing ................................................... 31 Printing ................................................... 32 Printing ................................................... 33 Printing ................................................... 34 Printing Fixed Assets Labels .................. 31
Reports................................................... 37 Reports................................................... 37 Reports................................................... 37 Reports................................................... 38 Reports................................................... 43 Reports Options ..................................... 33 Reports/ Deleting Saved Reports........... 37 Reports/Customizing............ 32, 33, 34, 37 Reports/Deleting .................................... 37 Reports/Exporting ............................ 33, 38
Printing Labels........................................ 32
63
ACS Version 10.6 - Fixed Assets
Reports/My Saved Reports .................... 37
Tax Districts ............................................. 8
Reports/Options ............................... 29, 33
Tax Districts ............................................. 8
Reports/Previewing ................................ 32
Tax Districts ........................................... 11
Reports/Printing...................................... 33
Tax Districts/Adding ................................. 4
Reports/Public ........................................ 37
Tax Districts/Updating .............................. 4
Reports/Saving....................................... 37
Text File ................................................. 39
RS 232 Cable ......................................... 38
Transactions..................................... 24, 26
RS232 Cable .................................... 44, 45
Type ............................................. 4, 10, 11
S
Type/Deleting ......................................... 10
Salvage Value ............................ 18, 19, 20 Saved Report ......................................... 37 Saving .................................................... 37
Types/Adding ........................................... 4 Types/Updating .................................. 4, 10
Saving Reports....................................... 37
U
Scanner ...................................... 38, 43, 44
Unassigned ............................................ 32
Select ..................................................... 34
Unassigned Item Numbers..................... 32
Setup Defaults................................................ 1 Using The Setup Option ...................... 2
Unposted Calculations Clearing ............................................. 25
Setup ........................................................ 1
Setup Upload Port .................................. 45
Updating Assets ................................................ 15 Categories ........................................... 5 Category ............................................ 16 Tax Districts ......................................... 7
Setup Window .......................................... 1
Updating ........................................... 2, 3, 4
Setup/Define Lists .................................... 1
Updating ................................................... 5
Setup/Depreciation Tab.......................... 13
Updating ................................................... 6
Setup/Using The Setup Option................. 2
Updating ................................................... 7
Startup.................................................. 1, 2
Updating ................................................... 9
Startup/Outline ..................................... 1, 2
Updating ................................................. 10
Straight Line ........................................... 17
Updating ................................................. 15
Straight Line Depreciation ...................... 18
Updating ................................................. 16
Straight Line Depreciation Method ......... 18
Updating ................................................. 22
Sum Year's Digits Depreciation.................. 20
Updating ................................................. 22
Setup ........................................................ 1 Setup ........................................................ 2
Sum ........................................................ 20 Sum of Year's Digits Depreciation.......... 20
Unposted Calculations ........................... 25
Updating/Asset Categories .................. 2, 5 Updating/Assets ..................................... 16 Updating/Conditions............................. 3, 6
T
Updating/Depreciation Methods............. 22
Tab ................................................... 15, 16
Updating/Locations .............................. 4, 9
Tab/Asset Info ........................................ 15
Updating/Tax Districts .............................. 4
Tab/Depreciation ........................ 13, 15, 16
Updating/Types .................................. 4, 10
Tab/Maintenance.............................. 15, 16
Upload .............................................. 44, 45
Tab/Notes............................................... 15
Upload Data ........................................... 44
Tab/Options............................................ 37
Upload Port ............................................ 38
Tab/Report Options ................................ 34
Upload/Data ........................................... 44
Taking Inventory.. 9, 11, 15, 31, 32, 43, 44, 45
Upload/File ....................................... 44, 45
Tax Districts Deleting................................................ 8 Updating .............................................. 7
Useful Life .................................. 18, 19, 20
Tax Districts.............................................. 4
Utilities/Bar Code Scanner ..................... 38
Tax Districts.............................................. 7
64
Types ........................................... 4, 10, 11
Upload/Port ............................................ 45 Utilities.................................................... 38
Index
Y Year End ................................................ 26
Yearly ............................................... 24, 25 Year's Digits Depreciation ...................... 20
65
