Opening Balances Tab

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Use this tab to enter asset opening balances if the asset existed before it was set up in the Greentree system.

You should only enter balances should for assets purchased before the start of the current year. Accumulated balances will reflect balances up to the last year-end. Transactions of the asset in the current year should be entered using the a Fixed Asset Transaction Entry form or FREE functions to load transactions from Excel.

Installation Date

Enter the original installation date of the asset. If left empty when setting up a new asset, the installation date will be populated by the first purchase or transfer in.

If the asset is in its first year of purchase, the purchase should be entered as a transaction using FA Purchase Entry.

Quantity

Enter the original purchase quantity of the asset. This will normally be one, but may be more than one if the asset code represents a group of similar assets. The quantity is a reference only parameter associated with the asset, it does not affect asset values. The asset quantity can be viewed in the Balances section of the Main tab of this form.

Cost

Enter the original cost of the asset, as both taxation and accounting values if applicable. This is used in depreciation calculations during the first year, and also if the asset is depreciated using a straight-line method.

Accumulated Depreciation

Enter the accumulated depreciation for the asset up to the last year-end, as both taxation and accounting values.

Accumulated Revaluations

Enter the accumulated value of the asset revaluations up to the last year-end, as both taxation and accounting values.

Accumulated Write-Offs

Enter the accumulated value of the asset write-offs up to the last year-end, as both taxation and accounting values.

Accumulated Offset Depreciation

Enter the accumulated value of offset depreciation for the asset up to the last year-end, as both taxation and accounting values. This will be determined from your existing system. As an example, this would include any depreciation recovered from an old asset to offset a replacement asset.

Opening Book Value

This is a system-generated read only value displaying the asset's opening book value in Greentree, using the values entered.

• FA Module Control

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