The objective of the Fixed Assets Register is to keep an accurate register of all company property and the depreciation thereon, where applicable. The Fixed Assets (FA) module monitors assets by providing up-to-date information including leased assets. It reports on age and residual values, and fixed assets for end-of-year reporting. It saves labour by automating Fixed Assets registers and handles the automatic calculation and posting of asset disposal entries, generating profit and loss reports.
An AP expense invoice can be linked to fixed assets via FA subledger allocation. For this subledger allocation, FA expense account must be maintained in the GL expense account (GLE355). When the Accounts Payable/GL entry is made against one of the FA expense accounts, then FA Subledger Allocation program FAE005 is called to capture the Fixed assets and the expense amount for each asset. The FA subledger transaction inquiry (FAI020) can be viewed from Work with Fixed Assets (FAW010) using option Expenses.
Entry & maintenance
Other
