Configure fixed assets

This section describes the fixed assets configuration. You can authorise the fixed assets, record settings concerning the way of depreciating the assets (fiscal and/or commercial) and journalise the assets. In addition, you can add asset groups, such as 'Land', 'Buildings', 'Machines', 'Furniture and equipment', etc.

Content

Description

You specify the configuration and operation of fixed assets at the following levels:

  • Settings (environment)

    In Profit, you can make fiscal and/or commercial depreciations. You specify this in the Profit Financieel settings. This is also where you link the period table for the calculation of the depreciations. For example, if you want to depreciate per month, you link a monthly table in the environment settings.

  • Asset groups (per administration)

    You use asset groups to classify assets. A set of general ledger accounts is linked to each asset group for the journalising of, among other things, purchase, depreciations and sale. When setting up your asset groups, do not forget accounting and reports. Generally, asset groups are coupled to balance sheet items such as Land, Buildings, Machines, Inventory, etc.

    You can journalise to the administration to which an asset group belongs or to another administration in the same environment.

  • Assets (per administration)

    Extended registration of all the data per asset such as purchase value, subsidies and residual value. For each asset, you determine the depreciation method and the number of periods and, with this data, Profit calculates the depreciation amounts.

Procedure

Also see