Financial Tab
Control | Notes |
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Acquisition mode |
Identifies the method through which this asset was acquired by your enterprise. Select an option from the drop-down list to indicate whether this asset was Purchased, Leased, Rented, or borrowed (another entity lent or Loaned it to your enterprise). Note: If you select:
|
Delivery date |
Enter the date this asset was delivered to the enterprise, or click the calendar icon in the right end of the field to select the date from a calendar. |
Warranty type |
The terms of the warranty (guarantee) on the device. If there is a warranty associated with this asset, select one of the warranty
types from the drop-down list. The default options include:
|
End of warranty |
The expiry date for the warranty (guarantee) supplied by the hardware manufacturer (or agent). Thereafter maintenance is entirely at the expense of your enterprise. Enter the date that the warranty expires for this asset, or click the calendar icon at the right of the field to select the date from a calendar. |
Amount and Frequency |
The monetary value of a charge against the asset, and the frequency of charges when applicable. Enter a monetary value to be charged, and, when applicable, select a value
from the Frequency drop-down list:
|
If you selected Purchased from the Acquisition mode drop-down list in the Financial area, you can also specify details about the tax-related depreciation of your asset.
Control | Notes |
---|---|
Current value |
To assist with record keeping, you can store a current value setting. Note that this is not automatically updated by the system. Enter the current value you want to assign to this asset. For information
about choosing currency and exchange rate, see Currency Settings and related topics. The
accuracy of your calculations in the second and subsequent years of an asset’s life depends
on you annually updating Current value to the “Current written-down”
or “Net book” value (according to your accounting terminology) of the asset.
Tip: To keep these records up-to-date automatically, you can use Business Importer
to import these values from your financials software after assets are depreciated each
year-end.
|
Residual value |
The value of the asset after depreciation. Applies only to fully-owned assets, and the Depreciation group of fields are displayed only when the Acquisition mode is Purchased. Enter the estimated value of the asset at the end of the depreciation period. |
Depreciation method |
For record keeping only (no calculations are performed automatically), identify the depreciation rules applied to this asset. Choose Straight Line or Residual
Value, which generally have the following meanings:
|
Period (years) |
If you selected Straight Line as the depreciation method, specify the total number of years over which the depreciation should be calculated (ignored if the depreciation method is set to Residual value). |
Rate |
The percentage of current value by which the asset is to be depreciated each year. If you selected Residual Value as the depreciation method, specify the annual rate for depreciation. |
If you selected Leased from the Acquisition mode drop-down list in the Financial area, you can also specify the details about the lease and its termination.
Control | Notes |
---|---|
Lease agreement |
Enter the title of the lease agreement in a form helpful to your audit trail. |
Lease number |
Enter the identifying code. Numbers, letters, and punctuation marks are all accepted. |
Start date |
Enter the date, or click the calendar icon at the right end of the field to pick the date, when the lease began. |
End date |
Enter the date, or click the calendar icon at the right end of the field to
pick the date, when the lease concludes.
Tip: You can also set the end date for
many assets at once by:
|
Lease price |
Enter the total lease price (excluding any post-lease residual purchase value). For help with entering difference currencies, start with Currency Settings. |
Buyout |
Enter the residual buyout value to acquire the asset at the end of the lease agreement. For help in entering a different currency and selecting an exchange rate, see Currency Settings and related topics. |
Payment |
Enter the amount, preferably in the same currency as the payment occurs (to account more easily for changes in exchange rates over time). For help in changing currency and exchange rates, start at Currency Settings. |
Period |
The frequency of (or time between) lease payments. Use the pull-down of options to choose how often you make lease payments. |
Termination date |
For use when the lease does not run its full term (in contrast, for the expected end date, see End date in the Lease information section when the Acquisition mode is Leased). Naturally used in conjunction with the Termination reason field in this Lease termination section to complete the audit trail. Enter the date (or click the calendar icon on the right end of the field to pick the date) of early termination of the lease agreement. |
Termination reason |
Audit trail explaining the reason for the end of the lease. Also includes normal expiry options. Use the drop-down list to select one of:
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IT Asset Management (Cloud)
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