Fixed Assets
- Lango: Language and translation manager
- Lucie Sovova
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Content:
Principles
The Assets module, extended by CZ legislation, adds Fixed Assets functionality to Business Central, which helps companies with the requirements of Czech accounting and tax legislation and best practices.
List of main functionalities:
Dependencies and assumptions
For batch jobs, the most basic dependency is to set up the Batch Jobs Setup Card.
Other dependencies are described separately in the chapters for each task.
Prerequisites for tasks processing assets linked to a financing contract/financed object are described separately in the chapters for each task.
Description of the documented area
In this documented area, modifications for OC are described.
A new Batch Jobs Setup code list is created, which is used to set up batch jobs that are associated with the creation, transfer, disposal of the asset card, and the interruption of depreciation on the asset card. For each separate task, it is possible to set conditions/filters for selecting the contracts that the task should work with. It is also possible to set up in the batch job executioner, for example, the number series of the FA card, the use of templates and sheets for the transfer or disposal of assets, etc.
To calculate tax depreciation, an adjustment is made for the application of 50% depreciation in the year of disposal.
A more detailed description of the batch jobs setup and other important settings for working with assets is described in Nastavení Finance
In this documented area, the standard functionalities of BC related primarily to the processing of assets that are not related to financing contracts are not described.
Sequence of Property Task Processing serving for the correct processing of assets both with a link to a financing contract / financed object and without a link (hereinafter referred to as other assets):
User create asset cards for other assets
User post the accounting classification of the PC or technical improvement to other assets in the Fixed Asset G/L Journal
User post tax classification of PC or technical improvement to other assets in Fixed Asset Journal
User interrupt depreciation on the asset card to other assets, if desired
Dispose of the asset card in the Fixed Asset G/L Journal for other assets according to the set rules, if desired
Run the Build Fixed Asset Cards task
Check entries in Fixed Asset Error Log (FA)
User to post PC accounting classification or technical improvement to assets linked to the Financing Contract in the Fixed Asset G/L Journal
User post tax classification of PC or technical improvement to assets linked to the Financing Contract in the Fixed Asset Journal
Run the Revision Of Data On The FA Card task
Check entries in Fixed Asset Error Log (FA)
If direct posting has not been selected, post the lines suggested in the journals
Run the Interruption of Accounting Depreciations task
Check entries in Fixed Asset Error Log (FA)
If direct posting has not been selected, post the lines suggested in the journals
Run the Transfer to STOCK and Dispose Off the FA Card task
Check entries in Fixed Asset Error Log (FA)
If direct posting has not been selected, post the lines suggested in the journals
Run the Calculate Depreciation report to generate accounting or tax depreciation, depending on the conditions specified in the Tasks dialog box
Accounting depreciation – review and user-post the suggested lines in the Fixed Asset G/L Journal
Tax depreciation – review/edit and user post the suggested lines in the Fixed Asset Journal.
The FA Card Transfer task is triggered separately when the need arises. The task is run from the original Financed Object Card.
All created tasks and the modified report for depreciation are described in detail in separate chapters.