Fixed assets settings

The fixed assets settings apply to the entire environment and, among other things, they contain the entry method for the depreciations based on the fiscal or the commercial method.

You can set up the period table for fixed assets per administration in the administration settings.

Note:

After the first depreciation period, you can no longer change the settings. If you do still want to change the settings, you must first undo the journalising.

To record the environment settings for fixed assets:

1. Go to: Financial / Management / Settings.
2. Go to the tab: Fixed assets.
3. Select a value for Entry method.

   You can deploy the fiscal or the commercial method for the generation of the journal entries for the depreciations.

4. Select a value for Depreciation method.

   You can depreciate assets in two ways:

   • Fiscal depreciation

     You depreciate in accordance with a method that is permitted fiscally and you journalise the depreciation in question.

   • Commercial depreciation

     You depreciate in accordance with an alternative method that provides you with a better view of the result from a cost accounting perspective.

   Determine if you only want to do fiscal depreciation or whether you want to deploy both methods.

5. Select a value for Compress journal entries.

   You can compress per asset or per asset group.

6. Select the Non-profit organisation ('Wet Werken aan winst') check box, if this is applicable for your organisation. This applies, among others, for foundations.

   This field is only available if you have selected Depreciate fiscally in Depreciation method. If you select this check box, a number of checks are cancelled when an asset is added (for example, the minimum term of 5 years).

   You cannot use this field if you have a Profit licence for Belgium or the Dutch Antilles.

7. Click on: OK.