| # Asset Books (tffam1510m000) Use this session to maintain asset books. You can select asset books to view information or to perform transactions related to asset books. When you define an asset, you assign a series of books to the asset. You use books to record asset depreciation and other transactional data for your organization's assets. A list of books is automatically entered from the Default Book (tffam0110m000) session associated with the company you assign to the asset. In the Default Book (tffam0110m000) session, books are indicated as required or not required. Required default books must remain on the asset record. Default books that are not required can be used for the asset or, if they are not needed, they can be removed from the asset. By default, asset books are defined in the Default Books (tffam0510m000) subsession of the FAM Parameter (tffam0100s000) session ( Default Books button or command). Books can be added or removed as needed. However, you cannot remove or modify a book for which the Required Book check box in the Default Book (tffam0110m000) session is selected, nor the default General Ledger book. Any non-required book can be removed prior to asset capitalization. For each book you create, you specify whether assets associated with the book depreciate or not. An asset can depreciate differently in different books, or not depreciate at all in a book. Depreciation values for the asset are stored at asset-book level. You also specify the type of book. Assets marked as ADR cannot be depreciated in this session. You can start the Vintage/Group Account (tffam7170s000) session and run depreciation on the entire account. If you select an asset with an ADR book and try to depreciate it, LN processes all other books and assets, and skips the ADR book. An asset book is considered suspended if the current period is set as suspended in the depreciation frequency record in use for the asset book. When an asset is suspended, it does not depreciate. Related topics Assets and related books Asset status Asset Book Statuses Using Asset Book Transactions Asset Number The asset number and asset extension create a unique identifier for the asset in the selected company. Asset Extension The asset number and asset extension create a unique identifier for the asset in the selected company. Status For more information, refer to Asset status Company A working environment in which you can carry out logistic or financial transactions. All the transaction data is stored in the company's database. Depending on the type of data that the company controls, the company is: A logistic company. A financial company. A logistic and a financial company. In a multisite structure, some of the database tables can be unique for the company and the company can share other database tables with other companies. Asset Book Identifies the book associated with the asset. Book codes permit you to define the books used by assets to record transactional data. Each asset must have at least one asset-book relationship. Default value The book specified in Books (tffam6500m000) for the company on the asset record. Status The book status associated with the asset. Book Type Indicates the type of book. Default value The book type specified in Books (tffam6500m000) for related books on the asset record. Home Currency One of a company's base currencies in which LN registers and reports amounts. In a multicurrency system, up to three home currencies can be defined: The local currency Two reporting currencies Depreciation Depreciation Definition Prop. Type A classification of fixed assets for United States legal tax depreciation requirements. The property type code identifies the unique property type set up in Property Types (tffam7180m000). Default value is from the Category (tffam2100s000) session. Depreciation Code The depreciation system according to which depreciation, value reduction, revaluation, and so on are calculated. Default value From Category (tffam2100s000), according to the book type. Otherwise, if the asset is associated with an account for the ADR book, the method set for the vintage/group account is selected by default. Identifies the depreciation method set in the Depreciation Methods (tffam7510m000) session. If the method you selected is a Federal method with an embedded class life, the class life value is by default entered into the life field. The Tax Method Type specified in the Depreciation Method (tffam7110s000) session. Depreciation Frequency A way to determine how often depreciation is recorded. It also determines whether a particular period is suspended. Default value Obtained from FAM Parameters (tffam0100s000), according to the book type. Last Depr. Date Last date depreciation was calculated for the selected asset. Shift Factor The shift factor takes an extra depreciation factor for an asset that is used beyond a typical 8-hour workday. For example, a machine may be used for two 8-hour shifts per day. Allowed values The value cannot fall below 1.0 The shift factor depends on tax regulations. For example, in Germany the shift factor is 1.25 for two shifts, and 1.5 for three shifts. The default shift factor is defined in the Asset (tffam1600m000) session. The shift factor of U.S. books ( Financial, Federal Tax, Other Tax) are disallowed for modification. The depreciation value is multiplied by shift factor. MACRS Depr. By If the MACRS Depreciation By method you selected does not conform to United States federal type book requirements, LN will automatically switch to the appropriate type of depreciation method. Depreciate Below Salvage If this check box is selected, the asset is able to depreciate below salvage value. Depreciation Postings to General Ledger Transactions are created for the specified asset book in the General Ledger. Separate Revaluation Accounting If this check box is selected, the revaluation costs and revaluation depreciation amounts of the asset are calculated separately, they are not added to the normal costs and depreciation amounts. The separate ledger transactions are posted to the General Ledger. Text Text If this check box is selected, a text is available. Amounts Amounts Current Cost The cost of the asset in the selected book, for the current period. LN calculates the depreciation amount as follows:
    Depreciation amount = transaction costs / asset life
If the costs in relation to the asset life are so low that after rounding off the amount according to the currency definition the depreciation amount approaches zero, a warning message appears. Current Cost The current cost amount expressed in the home currency. Original Cost Cost of the asset in the selected book at the time you ran the capitalization transaction. Original Cost The original cost amount expressed in the home currency. Depreciation Amount Amount of depreciation for the selected asset in the current period. Depreciation Amount The depreciation amount expressed in the home currency. YTD Depreciation The Year To Date Depreciation (YTD) is the accumulated depreciation for the selected asset and book in the current year. YTD Depreciation The YTD amount expressed in the home currency. Accumulated Depreciation Total accumulated depreciation for the selected asset and book life to date. Accumulated Depreciation The accumulated depreciation amount expressed in the home currency. Accl. Depreciation If this check box is selected, you performed accelerated depreciation on the asset. Related topics Accelerated depreciation Accelerated Depreciation The accelerated depreciation amount expressed in the home currency. Total Depreciation The total depreciation amount. Total Depreciation The total depreciation amount expressed in the home currency. Book Value Current value of the asset in the selected book, minus the accumulated depreciation. Book Value The book value amount expressed in the home currency. Salvage Value The amount expected to be recaptured when a fixed asset is disposed at the end of its useful life. Salvage Value The salvage value amount expressed in the home currency. Section 179 Value Amount of the U.S. tax section 179 deduction for which the selected asset and book are eligible. For federal tax - U.S. book the cost is reduced by the section 179 value before calculating depreciation. Section 179 Value The section 179 value expressed in the home currency. Capitalized Interest The amount you saved by funding a large material project yourself, instead of borrowing from the bank. It is recognized as a credit to interest income, and a debit to assets. This is a non-cash entry. Capitalized Interest The capitalized interest amount expressed in the home currency. Current ITC Amount Investment tax credit for which the asset is eligible in the selected book. Only available for Federal Tax, Other Tax, or Statutory tax books. Current ITC Amount The investment tax credit amount expressed in the home currency. Allocated Cost The indirect costs incurred in the purchase of an asset. For example, when you buy a car, the price of the car, the license, and the insurance are direct costs. The costs you incurred while shopping for the car and taking time off to collect it are indirect costs. In some cases, the government requires you to capitalize these indirect costs for tax purposes. Allocated Cost The allocated cost amount expressed in the home currency. Guarantee Value The guarantee value of the asset book.
    Guarantee value = original cost * guarantee factor
The Guarantee Factor is specified in the Depreciation Method (tffam7110s000) session. Note The field is a display field. The value is calculated when you define the Depreciation Based on Guarantee Factor depreciation method for the asset book. Related topics Depreciation Based on Guarantee Factor Guarantee Value The guarantee value expressed in the home currency. Life Life Asset Life (YY/MM) The combination of the fiscal years and periods fields provides the expected useful life of the asset in the selected book. LN calculates the depreciation amount as follows:
    Depreciation amount = transaction costs / asset life
If the costs in relation to the asset life are so low that after rounding off the amount according to the currency definition the depreciation amount approaches zero, a warning message appears. Asset Life (Units) If the depreciation method you selected is Units of Production, the asset life is displayed in units. This field displays the expected useful life of the asset in the selected book. Remain. Life (YY/MM) The combination of the fiscal years and periods fields indicates the amount of the asset's life in the selected book that remains to be depreciated. Remain. Life (Units) If the depreciation method you selected is Units of Production, the asset remaining life is displayed in units. This field indicates the amount of the asset's life in the selected book that remains to be depreciated. Recapt. Life (YY/MM) The combination of the fiscal years and periods fields provides the recaption life of the asset in the selected book. Remain. Depr. Life (YY/MM) The total remaining depreciation life, expressed as the sum of the remaining asset life and the number of periods in the Suspended Periods Counter field. Suspended Periods Counter The number of periods for which the asset was not depreciated because you suspended the depreciation in the Mass Suspend Depreciation (tffam1207m000) session. Note This field is not affected by suspended depreciation that you perform using the Suspended Periods (tffam7120m000) session. Related topics Suspending depreciation Revaluation Details Revaluation Index An update of the current value of a fixed asset to market prices. In Financials, you can revaluate a fixed asset based on an index or enter the amount manually. Last Reval. Year Indicates the last time you ran revaluation for the selected asset book. Revaluation Cost The cost of revaluation. Revaluation Cost The revaluation cost amount expressed in the home currency. Revaluation Depreciation The revaluation depreciation amount. Revaluation Depreciation The revaluation depreciation amount expressed in the home currency. Depreciable Indicates whether assets associated with the book will depreciate or not. YTD Revaluation The YTD revaluation amount. YTD Revaluation The YTD revaluation amount expressed in the home currency. Accum. Revaluated Depreciation The accumulated revaluated depreciation amount. Accum. Revaluated Depreciation The accumulated revaluated depreciation amount expressed in the home currency. Accum. Accelerated Revaluation Depreciation The accumulated accelerated revaluation depreciation amount. Accum. Accelerated Revaluation Depreciation The accumulated accelerated revaluation amount expressed in the home currency. Other Posting Additional Periodic Posting If this check box is selected, additional posting will occur. Posting Amount The amount of additional posting, if any. Posting Amount The additional posting amount expressed in the home currency. Depreciation Code for Additional Posting The depreciation code for the calculation of the additional posting amounts. Required If this check box is selected, Economic Recapture If this check box is selected, and the asset is assigned to a calculatory book which is set up for posting to the General Ledger book, depreciation for the asset is permitted beyond a net book value of zero. The asset book continues to depreciate while having a status of fully depreciated thereby allowing depreciation to continue when the last depreciation date is greater than the recovery end date. Note Economic recapture does not affect asset capitalization or transfer. Asset Book Depreciation Starts the Asset Depreciation (tffam1205m000) session. Restate Asset Book Depreciation Starts the Restate Asset Depreciation (tffam1206m000) session. Asset Book Adjustment Starts the Asset Book Adjustment (tffam1214m000) session. Asset Book Disposal Starts the Asset Book Disposal (tffam1213m000) session. Asset Book Transaction Inquiry Starts the Asset Book Transaction Inquiry (tffam8501m000) session. Asset Book Revaluation Starts the Asset Book Revaluation (tffam3200m000) session. Print Asset Books Starts the Print Asset Books (tffam1410m000) session. Asset Book Accelerated Depreciation Starts the Mass Accelerated Depreciation (tffam1208m000) session. Suspend Asset Book Depreciation Starts the Mass Suspend Depreciation (tffam1207m000) session. Reverse Asset Book Disposal Starts the Reverse Asset Book Disposal (tffam1225m000) session. Depreciation Method Starts the Depreciation Method (tffam7110s000) session. Accounts Starts the Vintage/Group Accounts (tffam7570m000) session. |