Content

One of the functionalities that InterFuerza has for companies is the efficient management of fixed assets. The Fixed Assets module allows you to perform the following functions:

  1. Creating a Fixed Asset.
  2. Handling a Direct Line of Depreciation.

This allows the automation of this process on a monthly basis.

Let’s see the different processes in this module.


Creating a Fixed Asset.

The fixed assets are created once you have carried out the following functions:

  • Registered the purchase to the Fixed Assets Account.
  • Registered the Balance to the Fixed Assets Account.

The Fixed Assets accounting initialization is not done automatically at the moment of creating a fixed asset in the auxiliary.  This needs to be handled by the accountant side.

To create a fixed asset, proceed to My Finances / Fixed Asset / Create Fixed Asset.  The following screen will show up.

To create a Fixed Asset, proceed to fill out the form, especially the fields shaded in red.

For the depreciation to run properly, the following fields are very important to fill out.

Entry Date:  It is the date in which the asset was acquired.

Rescue Value:  The rescue value is placed in this field, in case the value is not clear you may live it as (0.00).

Initial Balance: Is the depreciation accumulated amount, before starting the depreciation in InterFuerza.

Depreciation Configuration.

For the depreciation to run properly,  this section is very important to be configured.  The options are the following:

Depreciate: It is important to define as “YES” for depreciation.

Start of Depreciation: The period in which you wish to start with the fixed asset depreciation.

Useful Life: Is the time in years, that the fixed asset requires for depreciation.

Depreciation Cycle: The depreciation cycle, whether it is carried out on a YEARLY or MONTHLY.

Type of Depreciation:  For the moment it is only depreciated on a straight line (SL).

Accounting Configurations

It is important to configure the accounting part when creating the fixed asset.  Normally, when creating your InterFuerza account, the system is already configured with the predefined accounts.

If you want to make the changes according to the fixed asset requirements or if you want to change the default accounts, they need to be made in the Account Master.


 Fixed Asset Depreciation.

In order to depreciate the fixed asset, the same is done from the depreciation assistant.

In order to run the depreciation, you only need to follow the instructions on this screen.

Step 1

In this section you must select the Period you wish to depreciate and the date of the accounting records you wish to have.

Step 2

In this step, the fixed asset to be analyzed to be depreciated will be shown.

Step 3

In this step, you will find everything you need to run the depreciation, the system has all the needed information in order to run it.  This is the screen that you will see:

Is important to click the “Calculate Depreciation” button and no the “Continue” button, for this is the process that runs the depreciation.

 

 

In case an asset was not depreciated you should check if the configuration is correct. Additional monthly depreciation is carried out per month, therefore if an asset is not depreciated in the previous period, it will not be depreciated in the current period.

Checking the depreciations made:

In this section, you can check on the already made depreciation using the option “Depreciation”.

See the following screen:

 

Here we can access each depreciation by using the access> icon.

Once inside, we can see the depreciation generals and you can also attach files if necessary, to the depreciation.

List of Depreciated Assets.

in the depreciation details, you can also see the list of assets that were depreciated with their respective calculated amounts.

Accountable Journal

Each depreciation generates an accounting entry, which can be observed once inside the depreciation.  When the same is accessed, it can be consulted on the following way:


Conclusion

This module is very useful in the handling of the automation of fixed assets.  Remember that for help, you can always contact us by clicking the “Help” icon.

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