Transaction Menu
This area stores all changes that are made to an Asset and the creation of monthly depreciation transactions. In SapphireOne Assets, options are grouped depending on the functions they perform. These are data entry function which affect the general ledger, data entry functions which assist with asset control, reversal of disposal of an asset, viewing current transactions which are current, and finally, Posting transactions.
No matter what your organization deals in, tracking service and repair requirements for Plant and Machinery or Motor Vehicles is made simple with SapphireOne Assets. A report can be generated to assist in maintenance.
- Auto Depreciation
- Depreciation Tax
- Depreciation Other
- Sales
- Purchase
- Revaluation
- Repair
- Service
- Loan
- Reverse Sale
- Transaction Inquiry
- Post Transactions
Auto Depreciation
By simply selecting the “Process” button on the Auto screen, the Automatic Depreciation procedure commences allowing automatic creation of depreciation transactions for the current period on all assets in the database.
Depreciation Tax
Manual entry of depreciation values is also allowed by SapphireOne Assets through depreciation tax and depreciation other. The depreciation tax entry screen allows the manual entry of depreciation into the primary method of depreciation. This screen also allows for notes to be entered.
Depreciation Other
The Depreciation Other entry screen allows the manual entry of depreciation into any other methods of depreciation. However, depreciation is not made on the Primary Schedule (which is reserved for tax).
Sales
Sales allows recording of the disposal of an Asset. Sales will automatically create the disposal journal for posting to the general ledger. SapphireOne Assets also enables for the partial disposal of an Asset by entering a value in the ‘”% sold” field.
Purchase
The purchase entry screen is used to record the purchase of an Asset. This screen contains purchase details fields for entry such as date, reference fields, general ledger account fields and the purchase price. It also contains a notes field.
revaluation
The SapphireOne revaluation facility enables the increase in value of an asset, including the updating of the General Ledger, and a notes field, for personalised entry of information.
Repair
This function enables the tracking of an asset and the expected return date of the asset through asset management reports. The repair entry screen allows the recording of when an asset is not in use but is being repaired. The user can also take advantage of the notes field to enter repair authority number, or contact details of the repair agent, as well as the organisation’s internal repair order number.
Service
This assists in the tracking of assets, which require servicing as part of their normal usage. It provides entry for the service date, the date due back from service and also the next service date. If the next service is given in units, assets will use the estimated usage to calculate a service date.
Loan
Records the date the asset was issued on loan and the date returned, with a note facility. The asset can then be tracked through asset management reports, on the basis of date due.
Reverse Sale
There may be an occasion where a sale/disposal has been incorrectly entered, or a decision has been made to reverse the original entry. Whatever the reason, reversing a sale can be done effortlessly with this function. Reverse sale allows the selection of any sale of an asset. Once selected, SapphireOne Assets will create all the correcting journals required to reverse the sale for the “marked” records. This creates a full reversal as though the original sale never occurred.
Transaction Inquiry
The Transaction Inquiry screen provides a list of all current transactions in the system.
Post Transactions
This locks the record from any further modification and allows records to be transferred to SapphireOne Financials.
