Guide

Asset

Fixed Asset Module

This is a paid module.

Maintain Asset Group

Menu: Asset | Asset Group...

Group the asset items based on the following considerations.

1. Type of assets, eg. Motor Vehicle, Furniture, etc;

2. GL Account mapping.

   

Asset Group

Field Name	Explanation & Properties
Code	Input the new Asset Group Code. Field type: Alphanumerical; Length: 20.
Description	Input the Asset Group description, e.g., Furniture, Motor Vehicle. Field type: Alphanumerical; Length: 200.
Depreciation Method	Select an appropriate Depreciation Method to generate the depreciation value.
Fixed Asset	Select the Balance Sheet GL Account code for Fixed Asset.
Accum Depreciation	Select the Balance Sheet GL Account code for Accumulated Depreciation.
Depreciation	Select the P&L GL Account for Depreciation of Asset.
Disposal Gain	Select the P&L GL Account for Gain from Disposal of Asset.
Disposal Loss	Select the P&L GL Account for Loss from Disposal of Asset.

Maintain Asset Item

Menu: Asset | Asset Item...

Add new asset items.

Asset Item

Field Name	Field Type	Length	Explanation
Code	Alphanumerical	20	Input the new Asset Item Code
Description	Alphanumerical	200	Input the Asset Item description, e.g., Meeting Table, Toyota Vios, Perodua MYVI
Asset Group	Selection	–	Select an appropriate Asset Group for depreciation calculation and GL Account posting
Agent	Selection	–	Select who is the Agent using this Asset Item
Area	Selection	–	Select where the asset is located
Acquire Date	Date	–	Set the acquire date for this asset
Cost	Currency	–	Set the purchase cost for this asset
Useful Life (Years)	Integer/Float	–	Set the useful life of this asset
Residual Value	Currency/Float	–	Set the residual value for this asset
Status	Selection	–	Default is Active. Can be set to Inactive with an inactive date

Depreciation Schedule

1. Select the Frequency to generate the depreciation schedule by :-

   1. Monthly
   2. Quarterly
   3. Half Yearly
   4. Yearly

2. Click Generate button.

   

Project

Set the depreciation allocation by Project (for Departmental/Cost Center purpose).

History

Add the important remarks in the asset history. For instances:

1. who has borrowed/ when has returned this asset?
2. asset has been sent for repair or service...
3. asset has been destroyed by flood

Photo

Add the asset photo.

Asset Item Attachments

Add the attachments for an asset

Process Depreciation

Menu: Asset | Process Depreciation...

Asset Depreciation

1. Select the process date range.

   Tips:

   1. Process date range allows to select more than 1 month or 1 year to process the depreciation.
   2. Allow to process BEFORE system conversion date (No update to Maintain Opening Balance).

2. Select the Process Date.

   

   Tips:

   Journal Voucher date will follow this Process Date.

3. Description will be captured in the Journal Voucher description.

4. Click Process.

5. Preview the assets depreciation value and Net Book Value (NBV) before post to Journal Voucher. Click Save to post it.

   

Open Depreciation

Menu: Asset | Open Depreciation...

Open to view the historical Depreciation Listing.

Asset Disposal

Menu: Asset | Asset Disposal...

Asset Disposal Entry

1. Click New.
2. Enter Date.
3. Select Asset wish to dispose.
4. Enter Description.
5. Enter Ref1, eg. invoice no.
6. Enter Ref2 if any.
7. Select Project. Default follow Asset Item.
8. Select Agent. Default follow Asset Item.
9. Select Area. Default follow Asset Item.

General Tab

1. Cost, Accum Depreciation, and Net Book Value are retrieved from Maintain Asset Item automatically.
2. Key-in the Disposal value.
3. Select Payment Method to receive disposal value.
4. (Gain)/Loss worked out automatically.
5. Gain/Loss Account default follow from Maintain Asset. May change the (Gain)/Loss Account if necessary.

More Tab

Enter detailed Note.

Asset Disposal Attachments

Add more attachment files

Print Yearly Depreciation

Menu: Asset | Print Yearly Depreciation...

Print Yearly Analysis

Menu: Asset | Print Asset Analysis...

Reports Selection

1. This will analyze the asset Cost, Accumulated Depreciation, Net Book Value (NBV) and Disposal Value.

2. It allows you to choose and generate the following reports format: Monthly (12 Months) Quarterly (4 quarters) Half Yearly (First Half and 2nd Half) Yearly (5 Years)

   

Asset Analysis vs GL Balance Sheet Report

1. At GL | Print Balance Sheet Statement..., choose the Balance Sheet Format : This Year - 3 columns

2. At Asset | Print Asset Analysis..., choose Report: Yearly (5 columns)

   

Print Asset Disposal Listing

Menu: Asset | Print Asset Disposal Listing...

Importing Asset Master List

Preparation for Asset Master Import Excel Template

Download the Asset Master Template

Asset Master Template (xlsx)

Sheet Name	Refer to
FA.GROUP.OPF	Maintain Asset Group
FA.ITEM.OPF	Maintain Asset Item
FA.ITEM.OPF.DeprSche	Maintain Asset Item – Depreciation Schedule tab
FA.ITEM.OPF.Project	Maintain Asset Item – Project tab

NOTE:

DO NOT rename the sheet name.

1. FA.GROUP.OPF (Maintain Asset Group)

   Column	Length	Note
   Code	20	Asset Group Code, e.g., Furniture
   Description	160	Asset Group Description, e.g., Furniture & Fittings
   DeprMethod	1 (Integer)	Depreciation Method, e.g., 1: Straight Line Method
   AssetAcc	10	e.g., Furniture & Fittings under Non-Current Assets (B/S)
   AccumDeprAcc	10	e.g., Accumulated Depreciation – Furniture & Fittings under Non-Current Assets (B/S)
   DeprAcc	10	e.g., Depreciation account under Expenses (P&L)
   DisposalGainAcc	10	e.g., Disposal Gain account under Other Income / Expenses (P&L)
   DisposalLossAcc	10	e.g., Disposal Loss account under Expenses (P&L)

   • Example :

   Code	Description	DeprMethod	AssetAcc	AccumDeprAcc	DeprAcc	DisposalGainAcc	DisposalLossAcc
   Furniture	Furniture & Fittings	1	200-200	200-205	923-000	530-999	980-999
   MV	Motor Vehicle	1	200-400	200-405	923-000	530-999	980-999

2. FA.ITEM.OPF (Maintain Asset Item)

   Column	Length	Note
   Code	20	Asset Code, e.g., FF-0001
   Description	160	Asset Description, e.g., Chairs, Table
   Asset Group	20	Asset Group, e.g., Furniture
   Agent	10	Assigned an agent if any
   Area	10	Assigned an area if any
   AcquireDate	Date	Purchase date
   Cost	Currency	Purchase cost
   UsefulLife	Float	Useful life in years, e.g., 5 years, 3.3 years
   DeprFrequency	1 (Integer)	Depreciation frequency options: 1 = Monthly, 2 = Quarterly, 3 = Half Yearly, 4 = Yearly
   Residual	Float	Re-sellable value

   • Example

     Code	Description	Asset Group	Agent	Area	AcquireDate	Cost	UsefulLife	DeprFrequency	Residual
     FF-001	Chairs	Furniture	----	KL	13/10/2022	12,000.00	10	1 (Monthly)	100.00
     FF-002	Meeting Table	Furniture	----	KL	23/01/2021	15,000.00	10	2 (Quarterly)	0.01
     MV-001	TOYOTA VIOS 1.5 / RED	MV	YUKI	SEL	17/03/2020	88,000.00	5	4 (Yearly)	30,000.00

3. FA.ITEM.OPF.DeprSche (Maintain Asset item-Depreciation Schedule)

   Column	Length	Note
   Code	20	Asset Code, e.g., FF-0001
   ScheDate	Date	Scheduled depreciation posting date
   Description	160	Depreciation description
   Amount	Currency	Depreciation amount based on the depreciation frequency

   • Depreciation Frequency

   • Monthly

   Calculation	Formula	Result
   No. of Rows	Useful life × 12 months	5 × 12 = 60
   Amount per Row (RM)	(Cost – Residual) ÷ No. of Rows	(88,000 – 30,000) ÷ 60 = 966.67

   • Quarterly

   Calculation	Formula	Result
   No. of Rows	Useful life × 4 quarters	5 × 4 = 20
   Amount per Row (RM)	(Cost – Residual) ÷ No. of Rows	(88,000 – 30,000) ÷ 20 = 2,900

   • Half-Yearly

   Calculation	Formula	Result
   No. of Rows	Useful life × 2 half-years	5 × 2 = 10
   Amount per Row (RM)	(Cost – Residual) ÷ No. of Rows	(88,000 – 30,000) ÷ 10 = 5,800

   • Yearly

   Calculation	Formula	Result
   No. of Rows	Useful life (years)	5
   Amount per Row (RM)	(Cost – Residual) ÷ No. of Rows	(88,000 – 30,000) ÷ 5 = 11,600

   • Example

   

   • 4.FA.ITEM.OPF.Project(Maintain Asset Item-Project)

   Column	Length	Note
   Code	20	Asset Code, e.g., FF-0001
   Project	20	Project Code
   Rate	Float	Allocation percentage (%)

   • Example

   Code	Project	Rate
   FF-001	Project-A	30
   FF-001	Project-B	70
   MV-001	Project-A	100

Quick Import Asset List

Menu: File | Import | Excel Files...

1. Click Open folder button.

   

2. Select the Asset Template excel file...

3. Click Execute (Direct Import). Click Verify if you wish to verify the excel data before import.

   

   NOTE:

   Asset import function available in SQL Account version 5.2022.948.826 and above.

Generate Asset Opening vs GL Maintain Opening Balance Report

Menu: Asset | Maintain Asset Item...

1. At Maintain Asset Item, click Preview button.

   

2. For instance, the Out of Balance result get from the comparison between Asset Opening Balance and GL Maintain Opening Balance.

   

3. With the Asset Opening Breakdown in the report, it helps you to ensure the asset data inputs are correctly recorded in Maintain Asset Item.