FIXED ASSETS

 

 

 

 

DESCRIPTION:  Fixed Assets is used to store information on your fixed asset purchases and disposals.  This can include large assets (like trucks) or smaller assets (like a computer).

 

 

 

To access:  Click on the Fixed Assets module  then click the Fixed Assets menu item.   

 

The following window will appear:

 

  

 

Please see the following topic for help on setting up filters  in the Search window:  Exploring Grid Filters

 

To find information for fixed assets already in Pro Fund Accounting, use the Search for Fixed Assets window.  Enter the code or text to find, then click the Find button.  You may also locate a fixed asset record by using the Navigation  buttons.

 

To enter a new fixed asset, click the New  button.  The Code will default to the next available fixed asset number.  Enter the Asset name (an easy identifiable description of the asset), the appropriate Group code (Note:  For Road Commissions, make sure you are putting the fixed asset in the correct Group # according to the accounting manual.), and the Serial number or appropriate identification value.  If you are adding a new fixed asset to an already existing fixed asset, make sure you specify a unique, sequential Addition number.  Once an item is depreciated, you can not change the financial information, so instead, you can have the same Group and Serial number, but add Addition numbers, such as 01, 02, when you need to add items onto a piece of equipment or building.

 

Select the Depreciation Tab to enter or view information about the asset value and the depreciation cycle such as the Capital amount (the total amount paid for the asset; also include Title Fees, etc.), Life years, In service date (the actual date this item is put into service), Salvage value, Down to (If you want to stop depreciating the asset at a certain dollar amount, enter the amount here.), Purchase date, Depreciation type, Starting depreciation amount, Starting counter (The number of months depreciation has been applied to the asset.  If the fixed asset is NEW, enter a zero in this field.).  NOTE:  To keep things in balance, make sure the Capital amount here and the amount in the Equipment menu item Purchase Price ARE THE SAME.

 

Select the Service Tab to enter additional information such as Additional information, Location (the place where this fixed asset is housed), Model year, Purchased from, and a Description.  Check the Is used box if this item was purchased used.

 

Select the Account Nbrs Tab to enter the Credit and Debit account numbers by using the drop down list or by clicking on the Account Tree button  to find the appropriate account number or by entering the account number by hand using the Change Entry Mode  button.

 

Select the Disposal Tab for information about the status of the asset.  When you sell or scrap your asset, enter that information here.

 

Select the Activity Tab to see the depreciation history of a particular asset.

 

To Delete a fixed asset, locate the fixed asset record, then click the Delete  button.  A confirmation window will appear asking if you are sure you want to delete the selected item.  Click either Yes or No.  If the fixed asset is currently being referenced in other records, then a message window indicating this will appear.  Click OK.

 

Remember to click the Save button when you change information.

 

Click on the X in the upper right corner of the window to close the window.