This is the calculation of multiple depreciation schedules in relation to the company assets. Only one depreciation schedule may be transferred to the General Ledger. This covers the ATO Standard, plus the Company required value, i.e.: your Company may wish to retain a record of the WDV Tax value, plus the potential WDV sale value. It is suggested that only the transactions relating to the ATO Standard are transferred to SapphireOne, while the Company transactions are kept within Assets, to give a true reflection of the assets worth.
The purchase, sale and control of your company’s assets are achieved with ease. This includes the ability to record locations and the staff responsible for the asset. Also, the asset details regarding warranty, repairs and loans can be tracked, allowing full recording of the assets life in the company.
Information pertaining to the Asset itself can be found in the details page. The Details and More Details pages allow for the entry of the asset name with description up to 32000 characters, the class that the asset belongs to, where the asset is located, who is responsible for the asset and their contact details. There is also a description text field (to allow the entry of information describing the asset) as well as fields providing warranty information, insurance details, notes and general ledger accounts.
The depreciation page provides asset depreciation information for both tax purposes as well as company purposes. Both have the suggested depreciation rates including the common Straight Line method, as well as diminishing value and cost-price methods. The tax information is the only information is transferred to SapphireOne Financials General Ledger.
Class Inquiry allows the grouping of Assets into common areas. This is not limited to one class and actually allows for a super- and sub-class. For example, the super-class of an asset can be a class called office equipment, and the sub-class can be the department, such as administration. The Class Inquiry page also allows for the entry of any notes or actions pertaining to the asset.
Passwords are a valuable asset to any company, as your company’s ICT or systems administrator will tell you. Full password details can be tracked, including who owns the password; hardware, software, or software service that the password is for; full user name; short user name; activation date, deactivation date, if currently active, and which system users have created and updated each record. Each password record has a unique number, so they can never be confused, and this allows a full history of each password for a username or hardware to be kept.
Location Inquiry enables the tracking of an asset, including where it is located geographically. Similar to Class Inquiry, Locations Inquiry provides asset class information but also includes address, contact name and telephone information.
Department inquiry allows you to group assets within a location. It is a centre for a variety of department and asset information. Details such as names, notes and general ledger accounts can be entered here. In addition to these pages, department inquiry contains a valuation page displaying the total valuation of Assets for the department based on tax or company calculations.
A unique function of the SapphireOne Assets mode is to allow for the recording of a varied source of information about the asset, as well as enabling users to keep a visual record of the asset. The photo record of your asset allows for easy identification of that asset, which is especially useful when authenticating a business’s asset registry.
Contact Inquiry allows the recording of contacts and the linking of assets to those particular contacts. Although the recording of contacts is staff normally, contacts can also be service agents, sales agents or repairers. The user is also able to link the asset to any particular contact. A function unique to the SapphireOne Assets mode allows for the recording of varied sources of information about the contact, enabling users to also keep a visual record of that contact. The photo record of your contact can benefit the security of your organisation through ensuring access only to authorised agents.
Depreciation methods can be created for insurance, tax or valuation purposes. The primary and secondary are displayed on the valuation page. Only the primary method is transferred to SapphireOne Financials, and would therefore be the tax depreciation method.
Custom provides the ability to customise any information required by your company. Providing a variety of field types, the information you can record here is not limited by the type of fields available as the user can change the field labels by using the change names function. Information such as additional contact names, departments, phone numbers, dates of service checks or repairs can all be stored. Correspondence with a particular contact name can also be placed in this area.
The Inquiry menu of assets module allows the maintenance of records stored in the database.
The main area of control for assets.
For the classification of assets.
For the tracking of where the asset is actually located.
This is for the storing of Passwords, Serial Numbers Keys etc. for any asset.
For the grouping of various sections or departments within a location.
For the tracking of who is responsible for the asset.
For the accounts to be used when updating the Accounting system.
To allow the recording of vendor information relating to the purchase and payment of an asset.
Allows multiple methods of depreciation to be set up.
Each asset can be linked to a particular classification, location. By default, only Assets that are set as active will be displayed. This is the list in the Bondi Blue Demo that is displayed when the Include Inactive selection is made from the Tools Menu.
Details section contains many sub menus: Details, More Details, Custom, Depreciation, Valuation, Method, Transactions, History Transactions, History by Period, Computer Equipment details, Keywords, and Notes.
The Asset Class Inquiry provides the option to group Assets, such as Furniture and Fittings, Plant & Equipment etc. See the screens here.
The General Ledger Account details in the Asset will be automatically filled in from the details here when you green tick. However, if you then go in and alter the General Ledger details in the Asset itself the alterations in the actual Asset will take precedence.