Difference between revisions of "A Step by Step Guide to Fixed Asset"

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= Cases in Fixed Asset Management =

Revision as of 00:57, 19 May 2011

Note.gif Note:

DISCLAIMER - This is an implementation guide written by Kittiu, from Ecosoft Bangkok, Thailand for the purpose of teaching himself about fixed asset. It is not an official guide nor meant to be comprehensive yet. Other contributors are welcome to discuss on improving it.

Background

Overview

[1]

Cases in Fixed Asset Management

First Simple Case

  1. Requisition to purchase a fixed asset, i.e., a car, amount x,xxx,xxx.
  2. Generate PO from approved requisition.
  3. Send approved PO to supplier, may or may not have the product key. (we are not buying them often)
  4. Receive car as fixed asset and assign location and assign tag number of the asset.
    • New asset should be created here, instead of invoice
    • Accounting Fact: Dr. Fixed Asset Intransit, Cr. ???
  5. Receive AP Invoice for that fixed asset.
    1. Accounting Fact: Dr. Fixed Asset, Cr. Account Payable
  6. Further Tasks
    1. Make payment for this Fixed Asset as normal.
    2. Create asset detail, more information such as,
      • Core Info: Depreciation Method, % Depreciation, Account Code setup for depreciation and accumulate depreciation, Useful Life, Location, Acquisition Date, Residual Value, Time interval to depreciation calculation
      • Related Info: Insureance, Leasing, Maintenance (may complete with Maintenance Management Module), Account Code for maintenance charge, etc.
    3. Create fix asset registration


Existing Windows in ADempiere Fixed Assets Module

Step by Step Case Studies

Issues / Concerns / Suggestions