Fixed Assets Preferences

Form ID: (FA101000)

On this form, you can configure the fixed assets functional area. These settings are used to assign the numbering sequences and special accounts, to specify document processing options, and to select the depreciation history view to be shown on the Fixed Assets (FA303000) form. For information about configuring fixed asset depreciation settings, see Depreciation Configuration.

Form Toolbar

The form toolbar includes only standard buttons. For the list of standard buttons, see Form Toolbar and More Menu.

Summary Area

This area contains four groups of configuration settings for the fixed assets functionality.

Table 1. Account Settings Section
Element Description
FA Accrual Account The asset account to be used to record the cost of items that have not been put into service yet but may become fixed assets in the future.
FA Accrual Sub. The subaccount to be used to record the cost of items that have not been put into service yet but may become fixed assets in the future.
Proceeds Account The account to be used to record the proceeds from the disposal of assets.
Proceeds Subaccount The subaccount to be used to record proceeds from the disposal of assets.
Table 2. Other Section
Element Description
Depreciation History View The way the depreciation history is displayed on the Deprecation History tab of the Fixed Assets (FA303000) form. The following options are available:
  • Side by Side: For every book to which the asset is assigned, the table displays the calculated and real depreciation in separate columns.
  • By Book: The user selects a book on the tab, and the system displays the depreciation of the asset recorded in the selected book.
Depreciate in Disposal Period A check box that you select to allow a user to dispose of an asset only if the asset is depreciated in all financial periods before the current period.
Show Accurate Depreciation

The way calculated depreciation amounts are displayed in the system. Leave the check box clear to view the calculated depreciation amounts. Alternatively, you can select the check box to display the accurate (that is, reported) depreciation amount for the previous financial periods and the depreciation adjustment for the current period. The adjustment is calculated as follows.

Adjustment = B2 – B1 + A1

In this calculation, B2 is the calculated depreciation amount for the current financial period, B1 is the calculated amount of the previous financial period, and A1 is the reported depreciation amount of the previous financial period.
Require Full Reconciliation Before Disposal

A check box that you select to prohibit the disposal of the assets that have an unreconciled amount.

Note: You can review the unreconciled amount for each asset on the Reconciliation tab of the Fixed Assets (FA303000) form.
Allow to Modify Predefined Depreciation Methods

A check box that you select to allow users to modify the predefined depreciation methods.

Note: We strongly recommend that you create your own depreciation methods based on the predefined ones rather than modifying the predefined depreciation methods.
Table 3. Numbering Settings Section
Element Description
Transaction Numbering Sequence The sequence to be used for assigning reference numbers to fixed asset transactions.
Asset Numbering Sequence The sequence to be used for assigning reference numbers to fixed assets.
Batch Numbering Sequence The sequence to be used for assigning reference numbers to batches originating in the fixed assets functional area.
Tag Numbering Sequence

The sequence to be used for assigning reference numbers to tags. A tag is a label with a unique identifier that the system usually assigns to every tangible asset.

Tip: To assign the selected sequence to a newly created asset, you should clear the Copy Tag Number From Asset ID check box. Otherwise, the system will always use the asset ID as the tag number too, regardless of the setting in this box.
Copy Tag Number From Asset ID A check box that you select to use asset IDs as tag numbers.
Table 4. Posting Settings Section
Element Description
Automatically Release Acquisition Transactions A check box that you select if the system should release acquisition transactions automatically.
Automatically Release Depreciation Transactions A check box that you select if the system should release depreciation transactions automatically.
Automatically Release Disposal Transactions A check box that you select if the system should release disposal transactions automatically.
Automatically Release Transfer Transactions A check box that you select if the system should release transfer transactions automatically.
Automatically Release Reversal Transactions A check box that you select if the system should release reversal transactions automatically.
Automatically Release Split Transactions A check box that you select if the system should release split transactions automatically.
Update GL

A check box that you clear if transactions associated with fixed asset documents should not be posted to the general ledger. This puts the fixed asset subledger in initialization mode, which is used when you are importing assets with accumulated depreciation. Do not forget to return to the current form and select this check box after you finish importing the assets.

For more information, see Asset Migration: To Create a Partially Depreciated Asset.

When this check box is selected (the default state and the state to be set under most circumstances), transactions associated with fixed asset documents are posted to the general ledger. Also, the Depreciate action is available in the Action box on the Calculate Depreciation (FA502000) form, making it possible to calculate and depreciate a needed asset. For more information, see Asset Depreciation: General Information.
Automatically Post on Release A check box that you select if transactions associated with fixed asset documents should be automatically posted on release. This check box is selected by default.
Post Summary on Updating GL A check box that you select to allow the posting of batches with summary data to the general ledger. For these transactions, accounts that allow the posting of summary values should be used.
Post Depreciation Summary on Updating GL A check box that you select to post summary data for batches with depreciation to the general ledger. If the Post Summary on Updating GL check box is selected, the Post Depreciation Summary on Updating GL check box is unavailable.