Chapter 1 – Asset Setting

Chapter 1.1 – General Setting

Go to Asset Register > Setting.

  1. Setting – General Setting

(a) Posting Journal Type: Choose the journal types you are going to post.

(b) Posting Journal Method: Choose either details or summary.

(c) Cost Allocation Posting Project/Department:

i. Tick the checkbox to enable selection of either a project or department.

ii. This will reflected in Asset Maintenance > Cost Allocation Posting Project/Department.

(d) Cost Allocation Posting Method By: Choose either project or department. (Available after checking the checkbox (c)).

(e) Disposal Double Entry:

i. Choose either With Disposal P&L or Self Profit.

ii. Select With Disposal P&L to print out profit and loss during item disposal.

(f) Allow to edit Asset Active Flag: Set assets to inactive or active..

(g) Split Opening Depreciation Bring Forward: Bring forward your last year’s depreciation and enter the year-to-date depreciation.

(h) Depreciation Opening Date: The date when the system begins to calculate fixed asset depreciation.

(i) Calculate Full Depreciation on 1st Year: The system will calculate the entire year’s depreciation for the first year, regardless of the month it was placed in        service.

(j) Calculate Depreciation on Asset Dispose Month: Tick the checkbox to add depreciation for the month you dispose of the fixed asset.

(k) Disposal Real Time Posting: The system will automatically create a journal for posting when you dispose of or write off an asset.

(l) Rounding Method: Select either Standard Rounding or Banker Rounding.