Opening Balances Tab

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

Note: 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. Enter transactions in the current year using the Fixed Asset Transaction Entry form or the FREE functions for loading transactions from Excel.

Options Reference

Each option and field on the form is described below. Mandatory options and fields are highlighted in red.

Installation Date

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

Note: If the asset is in its first year of purchase, enter the purchase as a transaction using FA Purchase Entry.

Quantity

Enter the original purchase quantity of the asset. This is normally 1, but may be more than 1 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.

You can view the asset quantity 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 can, for example, 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, using the values entered.

Note: These values become read-only when the first transaction has processed for the asset.