Asset

Asset Inquiry Overview

The Asset Inquiry menu provides a centralised data entry point for all assets, incorporating full control over your Asset database.

To set up Asset information, complete the screen as documented below for each individual asset.

Asset Inquiry ‘Details’ Page

This Details Page under the ‘Page’ dropdown menu provides the base details of the asset.

Assets Area

The Asset’s ID, Name, Company that the Asset belongs to are recorded here. These items are required before the user is allowed to save the Asset with the green tick icon.

The user then has the option of linking the Asset to a Department, a Class and a Project if needed. If a Project is entered and depreciation is run it will then be linked to the Depreciation Expense Account.

Grouping Area

The Grouping Area includes three tags which are by default named Tag1, Tag2 and Tag3. These are default headings and the user may go to: Utilities / Controls / Master Defaults / Assets Page and rename them as required.

These three tags are also displayed as part of the details displayed when the list of Assets is on screen. These tags are mainly used for reporting and reconciling the Assets details. When a detailed query is executed they form part of the list of Available Fields when a Detailed Query is run. When a Quick Report is executed they are listed as part of the Master Table.

Valuer General Area

The Date of Valuation and actual Value can be recorded here. These are automatically updated by the Valuation Journal. 

Details Area

Additional details may be entered in the Details Area. These details include the Purchase Price, the date the Asset was purchased, the Serial Numbers and Warranty Expiry Dates.

If an Asset Disposal transaction is created SapphireOne will enter in the date that the disposal was created in the Disposal Date data entry field. 

Location Area

You can use this area to assign an asset to a Location and include the relevant location details. You can also assign or link a contact to that location and a position and additional notes.

Loan Liability Area

This area allows you to record details of any loan used to purchase this particular asset. Also the General Ledger Account assigned to the loan, the liability amount the residual amount and the repayment terms.

Description Area

 This area can be used to include a detailed physical description of the asset. There is no character limit on the field.

Contacts Area

This includes a list of contacts associated with this asset.

Asset Inquiry ‘More Details’ Page

The More Details page generally records the additional important details of an asset.

Insurance Area

The relevant details regarding any insurance relating to the particular asset. Including the policy number, insurer, expiry date, replacement value, premiums (ex GST), insured amount and expiry.

Insurance Notes

Any relevant notes regarding the insurance can be included here.

General Ledger Accounts Area

This allows you to set the control accounts up for this individual asset, overriding any generic setup from company controls-control accounts.

Miscellaneous Area

Miscellaneous information about the asset.

Costing Split Area

The estimated use per day, the number of days the asset has been owned and the ability to perform a costing split across multiple General Ledger departments with a unique percentage split across each department.

Backlog Area

A notational backlog that allows you to record various numerical events in whatever context you are using the asset, for example kilometres between service. The fields in relation to the backlog are Log Date, By, Type, Operator, Description, Reading and Completed Date.

Asset Inquiry Category Page

The Category page allows the entry of a variety of detail depending on the type of asset as set on the details page

Asset Inquiry Custom Page

This is the Custom page for Assets. All of the Area Headings and Field Names can be customised to your needs. You may do this through the Change Names function by going to: Utilities / Controls / Change Names. We have a total of eight customisable alpha fields, eight customisable numerical fields, six customisable date fields and two text fields.

Asset Inquiry Depreciation Page

This allows the set up and recording of depreciation this can then be activated via auto depreciation. If your company uses more than two depreciation methods you will want to use the method page. This can be activated by auto depreciation. In the two methods displayed the user has a choice to select straight line, diminishing value or cost price.

Miscellaneous Area

The miscellaneous area allows the recording of miscellaneous details regarding the asset depreciation, these are across all depreciation methods.

Tax Area

The Tax area allows the entry of “Tax” related depreciation information. This is the main depreciation method and Depreciation generated using this method will generate General Ledger Journals in Accounts mode.

The designation “Tax” can be renamed in: Master Defaults / Assets

Company Area

The Company area allows the entry of “Company” related depreciation information. This is a secondary depreciation method and Depreciation generated using this method will NOT generate General Ledger Journals in Accounts mode.

The designation “Company” can be renamed in Master Defaults / Assets.

Asset Inquiry Valuation Page

This allows the display of valuation information generated from depreciation and purchasing. If your company uses more than two depreciation methods you will want to use the method page.

Tax Area

The Tax area allows the display of ‘Tax’ related depreciation information. This is the main depreciation method and Depreciation generated using this method will generate General Ledger Journals in Accounts mode.

The designation ‘Tax’ can be renamed in Master Defaults / Assets.

Valuation Area

This allows the display of valuation information generated from depreciation and purchasing. If your company uses more than two depreciation methods you will want to use the method page.

Asset Inquiry Method Page

Select the method to edit or view by double clicking. If you use multiple methods of depreciation they will initially need to be set up in Asset Method. This details the Method you are working on.

Asset Inquiry Tax Method Page

You have the ability to run both Tax and Company methods simultaneously.

Asset Inquiry Company Method Page

You have the ability to run both Tax and Company methods simultaneously.

Asset Inquiry Transactions Page

The Transaction page displays a simple list of the current asset transactions relating to this asset.

Asset Inquiry History Transactions Page

History Transaction page displays a simple list of the current asset transactions relating to this asset.

Asset Inquiry History by Period Page

You can also check out our Blog and YouTube channel for additional information and resources on SapphireOne ERP, CRM and Business Accounting software.

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