The Fixed Assets card is intended for managing fixed assets and real estate. The Fixed Assets card works with the following documents
The Asset Card and the Fixed Asset Card can not be used at the same time, the data does not move correctly and Directo does not correct errors due to incorrect use.
The following settings should be completed before creating fixed asset cards:
If asset classes are filled in, accounts are placed from classes.
Make sure that the start date of the calculation is not earlier than the date of purchase. If it is necessary to start accounting earlier, write the date of purchase earlier on the property card.
Fiscal data - The start of the calculation cannot be later than the start date of the car's fringe benefit tax.
Data fields can be used to add parameters that are not described on the Low Value Asset card and later use in reports. Data fields to be described Datafield types.
Allows one month's amortization transaction to be shared between multiple cost items or projects.
Shows the activities performed with fixed assets (amortization, recalculation, etc.).
New fixed asset card can be created as follows:
Enter the purchase invoice, select an asset account in the Account field, to which the acquisition cost of fixed assets must go.
After confirming the purchase invoice, a
New FA button will appear below the third dot at the top of the lines.
By pressing the button, a new fixed asset card opens with pre-filled information that can be queried from the purchase invoice and which remains directly related to that purchase invoice.
Data is added automatically if you select an account in the purchase invoice that matches the account for the asset class.
Accounts: accounts are placed from asset class.
If at least one account is not specified on an asset card (tangible asset or intangible asset), the program will not allow any depreciation transaction to be made. Also applies to future asset cards.
If the quantity is bigger than 1 in the purchase invoice line, quantity of 1 is saved on the fixed asset card, because only 1 fixed asset can be on one card.
Maintenance, location and insurance data are for information purposes only and can be used as needed.
After confirming the expense, a
New FA button will appear below the third dot at the top of the lines.
By pressing the button, a new fixed asset card opens with pre-filled information that can be queried from the expense and which remains directly related to that expense.
Data is added automatically if you select an account to the expense which matches the account for the asset class.
After confirming the stock depreciation, a
New FA button will appear in the end of the rows. By pressing the button, a new fixed asset card opens with pre-filled information that can be queried from the stock depreciation and which remains directly related to that stock depreciation.
The Fixed Assets card can be created from the Fixed Assets register or from the Fixed Assets card.
Finance > Fixed assets > Add new
There is no pre-filled data on the manually created fixed assets card.
For large data amounts, it is convenient to use the bulk import module. Provides the ability to import a pre-formatted Excel spreadsheet with fixed asset card information into Directo and as a result, a corresponding number of fixed asset cards are created in Directo. Large data updates are also possible through the same module.
Importing large data amounts, it is important to know that the type of asset must be given as a number in the prepared data table:
0 - low value asset 1 - tangible asset 2 - intangible asset 3 - written-off asset
Use only when entering open balances. It can also be used when buying/adding a new company or department and it is necessary to add additional fixed assets with opening balances in the already operating Directo base.
Follow exactly the steps when entering open balances.
If the previous depreciation amount is already known, when the fixed asset card is inserted, the depreciation date must be added to the system settings before it is inserted.
Corresponding setting can be found
Settings > System settings > Asset settings > Asset date for entering balances.
For example, asset date for entering balances is 31.12.2021. In this case, insert the date in the system settings.
Fill in the start time, purchase price and depreciation on the fixed asset card.
Save the card and then add the depreciation sum, otherwise the depreciation will disappear, when saving the card for the first time.
When the fixed asset tabs are filled in, return to the system settings and delete the previously marked date.
The last step is maintenance.
Finance > Reports > Maintenance open maintenance and add dot to Robots box:
If no date is entered, depreciation is saved with the current date and depreciation transactions can no longer be made in earlier periods.
If the system setting Asset date for entering balances is filled:
System settings –
Asset settings → Asset card is editable – NO/YES. By default the setting is YES
YES - all changes can be made directly on the fixed asset card, but reports for an earlier period cannot be taken later - who was in charge etc.
NO - changes can only be made on the additional documents. Changes are saved and they can be reported in the past. Option NO allows to make changes in fixed assets and low value assets fields, which are not closed on fixed asset card.
If System setting
Asset card is editable → NO the fields will be locked after depreciation has been calculated for the first time or another document has been issued (Change, Inventory).
Following fields are locked on the Fixed asset card:
Directo can be configured so that tangible and intangible asset type asset card must be confirmed if needed. Its purpose is to provide a more flexible process configuration option in situations, where is a time lag between the asset purchase and registration for an example and it is desired to be precise at the time of the transaction. Or someone has to validate it before registering the asset e.t.c.
Unconfirmed fixed asset cards are included in the Asset Depreciation and Asset List report.
Settings > System Settings >Asset Settings are the following settings that affect asset confirmation
If the asset confirmation requirement is turned on, a Confirm button will appear in the new asset header:
If the asset module has already been used and the assets have been depreciated, should be contacted with Directo Customer Support, if the asset confirmation feature is intended to take into use. Customer Support helps to mark assets in use as confirmed. Old cards independent confirmation creates also registration transactions, which would damage or clutter existing accounting.
Entering a purchase invoice is similar to creating unconfirmed fixed asset card, but the asset registration account is marked in the line of purchase invoice (4.1. Confirmation setting). Purchase invoice confirmation creates transaction, where the cost of fixed assets is posted: debit- asset registration suspense account.
The cost of fixed asset does not immediately go to the fixed asset account, but remains on hold in the suspense account. This transaction takes place on purchase invoice operation date.
Fixed asset card can be created with corresponding button from purchase invoice or manually. If the fix asset card is filled in with important information (Creating a new fix asset card), the card can be confirmed by pressing Confirm in the asset card header. New opened window may ask for a number series into which to create a financial transaction. Transaction is made, which records the fixed asset in acquisition cost and credits the suspense account. Transaction is created with asset card calculation start date.
Creating fixed asset card from Expense applies the same rules as creating the fixed asset card from purchase invoice. The asset registration account is marked in the corresponding line of expense.
The asset registration account is selected to document account when creating fixed asset card from Stock depreciation
The fixed asset registration transaction is formed in confirming as follows:
|'INV'||Fixed asset card Start date||'Asset '+[asset.code]+':'[asset.name]+' asset accounting'+' '+[asset.date]|
|Debet||Fixed asset card Asset account||Card objects||Card project||Card purchase price|
|Credit||From System settings 'Asset registration account'||Asset card objects||Asset card project||Asset card purchase price|
After confirmation a corresponding transaction is created on the Fixed assets card tab Activities (Asset Confirmation):
The Fixed asset card can also be opened from the confirmation until no depreciation or other transaction that creates financial transaction have not been made. Card can be opened with Document opener under Maintenance.
Depreciation is calculated according to the method and rate marked on the fixed asset card.
The following depreciation methods are used
Depreciation is calculated on the straight line method by default.
Depreciation rate is calculated from purchase price by straight line method.
Depreciation = (purchase price-remaining value) / vara kasulik tööiga
Fixed asset with purchase price of 120,000 is depreciated at 20% per annum using the straight line method, depreciates permanently in 5 years (every year 24 000, every month 2000).
With diminishing balance method the fixed asset base value decreases each year by the depreciation amount.
Fixed asset with purchase price of 120,000 is depreciated at 20% per annum using the diminishing balance method, is depreciated in the first year 24 000 (2000 in month), in the second year 19 200 (1600 in month) (20% 120 000- 24 000) etc. The Fixed Asset is never depreciated permanently with this method.
If depreciation is calculated by the unit of production method, then the annual depreciation percentage can not be entered in the fixed asset financial data, but a usage limit is set in the line “Units of production”. Can be used calculating depreciation with proportion.
Depreciation is calculated automatically by units of production method, if the usage limit number is filled and amort % under fiscal data change to 0.
For example is used to depreciate a vehicle by kilometers, a production bench by hours and so on.
Depreciation is calculated on a monthly basis. How much fixed assets have been used must be marked monthly.
All usage limit and how much fixed asset was in use in this month are taken into account when calculating depreciation. According to this the depreciation percentage and the amount are calculated with formula:
(use per month / usage limit) * purchase price (160 / 10 000) * 200 000 = 3200
Depreciation transactions can be created after entering fixed asset cards. All the fixed asset cards must be filled correctly.
From the opened window can be selected:
If the asset, class, object, project fields are left empty - depreciation is calculated to all fixed assets.
Generated transaction will open after pressing the button
The transaction is common to all fixed assets on one depreciation sheet. Depreciation transactions do not have to be made separately for each fixed asset.
The depreciation and the current value change on the fixed asset card and the last depreciation transaction is displayed on the fixed asset card. The last transaction number is shown as a link in the document header, clicking on it will open the corresponding transaction:
For example if the September and October depreciation is not calculated and November is chosen as the month for making the transaction, then the depreciation transaction is made with the November end date and the depreciation is calculated for three months. The transaction reference also shows that the transaction was made for three months:
Depreciation cost is shown in the income statement only for the last month, when calculating several months depreciation at once, and the asset module reports can only be compared with the financial reports as of the end of the last month.
If the residual value of the fixed assets is 0 and a value correction is added to the fixed asset, then the start date of the calculation must be the 1st of the month to calculate the depreciation from the same month. If you want to start depreciation calculation from the next month, put the last date of the month.
The FISCAL DATA tab on the fixed asset card shows the expected end of depreciation, the last depreciation date and transaction number. The depreciation transaction link opens in the fixed asset header.
The depreciation rounding transaction is indicated by the system settings
System setting →Asset amortization will be periodized → yes/no
allows to calculate depreciation for several months at a time and periodizes the financial transfer between months.
If the fixed asset depreciation transaction is made for one month, the depreciation transaction is the same for both system settings.
System setting →Asset amortization will be periodized → yes
Fixed asset depreciation for several months:
System setting →Asset amortization will be periodized → No
The setting is required if the previous months are already locked and depreciation has not been calculated - then the full depreciation expense should be posted in the open period.
System setting “Asset amortization up to: “Remaining value”/ “End date”
If the generated depreciation transaction is not suitable (wrong period was selected, some fixed asset was forgotten to be taken into account, etc), then the depreciation transaction can be very easily deleted and re-created. To delete, press the “Delete” button on the transaction. We answer “OK” to the program question, if we are sure we need to delete the transaction:
Allows to share depreciation cost between multiple object and/or projects at the same time over a given period.
Proportion % in numbers are entered in proportion tab to Proportion line. Number is placed automatically to the next row, so that total will be 100.
The car is used in the sale and warehouse departments at the same time, and the cost is shared between 30% of the sales department and 70% of the warehouse department.
If there is proportion - (cost) objects and project are taken from cost object and cost project column to proportional amortization transaction. Rounding would go to a larger number.
Write-off is accelerated depreciation. If the depreciation is divided by proportions on the fixed asset card, the write-off transaction is also made taking into account the proportion.
If write-off is wanted to transfer without calculating the proportion or to other objects, a CHANGE document is need to be done before, on which the proportional calculation is terminated and only after that the write-off is made.
If the system setting “Asset history preview feature” is enabled, is possible to create s.c. simulation transactions (only visible in the asset module) for depreciation calculation.
System Settings → Asset Settings
The fixed asset card shows the future of depreciation.
If the system setting - fixed asset depreciation is generated 2 months ahead- in on, then
Addresses can be configured
Settings → Personnel Settings → Departments.
Every address can have its own code. The address code location is placed on the fixed assets and small assets card. Enter the accuracy of the locations as needed.
Use additional fields for location codes as desired.
Examples : Company has departments in Tallinn, Tartu, Võru.
Settings > Personnel Settings > Departments
Add location addresses on departments card at the bottom of the page. Enter asset location addresses to address rows.
If departments are not in use, create a GENERAL department under which to enter all the desired location codes
The location code is in the data group LOCATION on the fixed asset card. More fields of the location code can be displayed under the Fixed Asset card fine-tuning -
Asset location additional info fields.
Fixed assets can be linked to users with purpose to have an overview who owns or is responsible for the asset. Users are managed using the fields User and In charge on the asset main page or in the tab Users :
Simple user management can be organized using the User and In charge fields. Persons from the Directo personnel register can be placed in these fields, who then will use or be in charge for the asset.
You can change the person codes on the fixed asset card with simple user management, but the data history will not remain and the reports will not be viewable.
More detailed user management can be done using the assets Users tab and the Employee Card Assets.
On Users tab in Fixed Assets card can edit and add rows to the Resources tab in Employee card.
If the system setting
The asset card is editable=NO is used, the user data can only be changed through an additional document Fixed Asset change
Type- asset type in Personnel module. Selection from the drop-down menu. Setup: Põhivara ja personali vahendite seos;
User- selection from users tab. Code is placed;
User name- user name is displayed (after saving), cannot be changed;
Start date- date of issue the fixed asset to the user;
End date- asset return date or termination of liability;
Comment- explanatory text. Not required;
Close out- selection from users tab. Code is placed;
Close out name- name is displayed (after saving), cannot be changed
Contract- the document on the basis of which the fixed asset was issued to the user. Text field. Not required;
If user is added to the fixed asset card through Users tab, then it is immediately in the Assets tab on personnel card:
It is necessary to set the assets Types, in order to save assets lines to Assets tab in Employee card. A list of asset types is created
Settings→Personnel settings→Data Types→Asset:
A list of asset groups is created to this table as we want to systematize them in the Personnel module. This list does not have to match to the asset classes list directly.
Rows without an asset type cannot be saved under Employee card assets. Read more in the Personnel Module Guide.
For Asset class is selected to, which personnel module asset type the given class corresponds to:
The fixed asset classes must be compiled in such detail, so that type comes correctly from class, if you want to use the fixed asset types on The Employee card.
Settings→System settings→Asset settings→Asset has one active in charge user:
specifies whether there can be multiple end-dated rows in the Users tab at one time or not. In other words, can there be multiple users at the same time. Setting options: yes, no:
Yes- When a new user is added to the table, the previous user's row is “closed” and its end date is automatically set to one day less than the new user's start date: adding a new user to the table, the previous user's row is “closed” and its end date is automatically set to one day less than the new user's start date:
Only the last line can be edited and deleted (previous users lines are locked). If you delete the last line, the previous one becomes the active line and can be changed. Also the end date is removed from it.
No- all lines are freely editable. Except for required fields that must be filled (Type, User, Start date). This means that the asset has multiple concurrent users and the asset is on a several employee card.
Option user and in charge is intended for use, when the system setting
Asset has one active in charge user=Yes is selected.
Specifies which field (user or in charge) on the fixed assets tab is updated automatically, when a new user is added to the users tab (the field is locked and cannot be changed manually). This means that the selected field (user or in charge) always has the currently active user or in charge user.
Option No relation is intended for use, when the system setting
Asset has one active in charge user=No is selected, then the fields User and In charge can be changed freely.
ON TÄIENDAMISEL !!
The reports Asset list and Asset history can be taken by a valid user or in charge user. It means the reports take into account the user / in charge user that are on the asset main page.
Therefore, it is reasonable to turn on the system settings Asset and Personnel Relation so that the Users tab active user is also a valid user or a in charge user on the main page.
Asset actions codes are created to monitor different fixed assets actions.
For example, in the case of a purchase, the default code is “purchase”, the code can be changed before the first depreciation calculation or follow-up documentation is made.
Actions can be used in reports. Some activities appear on the asset card only through additional documents - Fixed Asset change, Low value Asset change, Fixed Asset recalculation, Asset write-off, Asset inventory.
Register allows to sort fixed asset cards, etc.
Buttons Update history and Delete history appear, when the asset system settings have been filled:
If Update history is created with a future period date, then future period depreciation transactions are previewed on Asset history report, although no depreciation has been calculated.
Asset history report still shows future periods depreciation, if Update history is prepared for a future period. Press Delete history in order for the Asset History report to show only the actual depreciation.
All the changes, that have not been saved, will be deleted by pressing Discard.