Product overview

Help and User Guide based on Fixed Assets Release v2015.15.0.19, April 2016


This Fixed Assets Help and User Guide will take you through the features and settings for the Sicon Fixed Assets module for Sage 200.  The module is fully integrated with the Sage 200 nominal ledger for posting of depreciation, purchase ledger for addition of assets and asset maintenance costs, and sales ledger for sales of assets.  It looks like any other Sage 200 module, making it easy to use for anyone already familiar with the Sage 200 environment.  Reports are available within the Sage 200 report designer so they can be amended to suit specific business requirements.


1. Introduction to Fixed Assets

The Sage 200 Fixed Assets Module from Sicon will manage all the assets in your business.  It will easily store many thousands of assets, providing a single place to record information; even for those assets that are already fully depreciated, but require traceability. You can enter details for each fixed asset manually or you can import them from a .csv file (i.e. from Excel).

Purchase Invoices entered via the Sage 200 purchase invoice entry can be used to create new assets or link to existing assets to record maintenance costs against an asset.  Purchase Invoices can be entered directly from the fixed asset screen if this suites your business process.

Fixed Assets can be depreciated with direct postings to the Sage 200 Nominal Ledger using this application.  There are six depreciation methods available with options for percentage and life in periods. There are many reports included with the product, which will enable you to print information based on criteria that you wish to view.  These reports use the Sage 200 standard report designer from which we have designed a number of catalogues, enabling new reports to be created and existing reports to be amended.

Fixed Assets MenuFixed Assets utilitites menu


2. Installing Fixed Assets

Fixed Assets Installation Guide

3. Settings

The asset settings should be reviewed and configured before using the fixed asset system.


3.1. Depreciation Types TAB

Tick the depreciation types you use within your organisation to restrict the options available when adding a new asset.  These options may be changed at a later date.

You may wish to consider where / if your company only uses a selected number of these that as a starting point they only tick the ones they know they use (this will avoid users when entering an asset selecting an incorrect type).

Sicon Fixed Assets - Settings - Depreciation Types


3.2. Status of Assets TAB

Listed below are the system states of the assets.  You can add your own custom states to indicate why an asset is not being depreciated.

The only status that will be read and used in depreciation is the system set ‘Live’.

Sicon Fixed Assets - Settings - Status of Assets


3.3. Posting Options TAB

It is possible to integrate the Fixed Asset postings with the Sicon Job Costing or Sage Project Accounting modules.

For Project Accounting, it is necessary to configure exactly where the depreciation costs will be posted within the project accounting module.

Sicon Fixed Assets - Settings - Posting Options

Project accounting needs to be enabled in the fixed assets settings.

The project then needs to be selected on the asset. A project item for the asset is created automatically.

The project item needs to exist in the project structure for depreciation to run:

Sicon Fixed Assets Amend Project Structure

At the moment this has to be added manually (the project item is created automatically, but is not added to the project structure).


3.4. Settings TAB

Sicon Fixed Assets Help and User Guide - Fixed Assets Settings Tab

Auto generate FA Number: Allows you to set a Prefix format and starting value for automated numbering for assets as they are created.

Allow users to amend Asset Number: If this option is selected the users can change the asset number of an asset.  All transaction history will remain with the asset.

Allow Zero Cost Assets: If this option is enabled, assets will be allowed to have zero value entered against them.

Hide Sold/Written off: If set the sold and written off, assets will be hidden from the selection lists, but remain in the system.

Forecast fully depreciated assets: If Enabled, the forecasting routine will still run against fully depreciated assets.

Force Fixed Assets invoices: If set, this will change the operation of the purchase invoice entry screen. If the nominal code entered on the invoice, is one that has been set as a default within Fixed Asset Set-up, against a Category in relation to Cost / Purchase Nominal Code (Addition), the P/L Invoice save button is disabled, and users will be forced to enter a fixed asset, using the ‘Save Fixed Asset’ Button. Once the Fixed Asset is saved then the Invoice will be saved.

Allow Journal Hold on disposal: If Enabled, this places the journal on hold, and will be visible / amendable from within ‘Enter Transactions/Held Journals within the nominal ledger ‘thus allowing you to amend the nominal journal before committing the post to the nominal ledger.

Allow Negative Value Assets: Not recommended to be used, but If enabled, will allow the value of assets to be entered as or depreciated into negative values. Negative assets are very un-usual, it was included from a customer’s request where they bought a company that was of a negative value, and they wanted to record it as an asset, depreciate it

Enable Asset Structures: This will enable the sub-assets section on the amend asset screen.

Hide Quantity Field: When ticked this will hide the field within the Details tab when creating or amending an asset. (Please note when using this function all the assets created would have same Name / Description, although different asset numbers  . which may be confusing at a later date). This function was introduced originally to be used in conjunction with Sicon Hire Manager)

Calculate depreciation based on number of days in period: This feature allows depreciation based on the number of days in a period to take account of 4, 4, 5 week period set up, if this is ticked after generate forecast has been run you will see that the forecast depreciation varies depending on the number of days in a month

Revaluation reserve nominal account: Needs to be populated to make the relevant nominal postings directly to the nominal ledger and is used within the revalue asset wizard/routine valuing assets.

Location of Attachments: This will set the location that attached documents will be stored.

Internal area used when issuing stock to fixed assets: This is used in conjunction with Hire Manager and determines the nominal code that is debited during the stock transfer

Change Deprecation Value: setting to change the depreciation value when assets are revalued (impairment) or taken off hold. This only works for life depreciation, and is used so that assets will finish depreciating on the original end date.

An impaired asset is a company’s asset that is worth less on the market than the value listed on the company’s balance sheet. This will result in a write-down of that same asset account to the stated market price.

If the sum of all estimated future cash flows is less than the carrying value of the asset, then the asset would be considered impaired and would have to be written down to its fair value. Once an asset is written down, it may only be written back up under very few circumstances.

Source definition: Investopedia.com


3.5. Depreciation Posting TAB

This section allows you to choose whether each fixed asset has its own journal posting, if they are all done in one journal entry or if they are grouped by nominal and posted for each group.

Sicon Fixed Assets - Settings - Depreciation Posting

Click the word Tools to open the following menu:

Fixed Assets 71

Sicon Fixed Assets Help and User Guide - Fixed Assets Settings - Tools

Recalculate all forecasts

Select this option and you will get the following warning:

Fixed Assets 73

Clicking Yes will take you to the Generate Forecasts screen where you can re-generate forecasts as required.

Update Nominals on Fixed Assets

Fixed Assets 74
Clicking Update will show the following dialogue box

Fixed Assets 75

Clicking Yes will run the update.

Update Annual Depreciation Totals

Fixed Assets 76

Click Search to display the list of assets.

Clicking Update will run the Annual Depreciation Total when this has completed you will get an information message as follows:

Sicon Fixed Assets Help and User Guide - Fixed Assets Settings - Update Annual Depreciation Totals


4. Add and Amend Assets

There are a number of items in the maintenance and settings sections that you will need to configure before you can add an asset including:

  1. Categories, sub categories & associated nominal codes
  2. Locations
  3. Employees
  4. Insurance Categories

Review the Settings section (covers Asset Numbering, custom status etc.)

Once these have been created you will be able to add assets to your system.

NB: If you import assets from a .csv file, points 1 to 4 will be created during the import.  You must configure the category nominal codes after the import to ensure accurate system operation.

To access this function select Fixed Assets and Double Click either Enter New Fixed Asset for a new asset, or Amend Fixed Asset to amend an existing one.

Fixed Assets Help and User Guide - Enter a new asset

In this example we have added a vehicle, as such the Vehicle Register and Accident Log tabs are visible.

When creating a new asset, the Asset No. is populated with TBA until the asset is saved this prevents users creating assets with the same number when Auto Generate asset number is enabled.

Fixed Asset 3

When this is not enabled, you can manually create an Asset number when you click Save.

The asset Name is your description of the asset, which will show on list views and reports.


4.1. Details TAB

Fixed Assets Help and User Guide - Enter a new asset

Category: Choose the Asset Category, this is used to set the default nominal codes for a new asset added within a specific Category.  These nominal codes can be amended once they have been setup.  Examples of a Category: Office equipment, Vehicles, Buildings.  If the Category is marked as a vehicle or planned preventative maintenance, then the Vehicle Register and Accidents/Planned Preventative Maintenance tabs will appear accordingly.

Sub Category: Once you choose the main category you can choose the sub category.  The sub category is used to provide sub analysis of asset types within a master category.  Examples of sub categories: Computer Equipment – Printers / Servers etc., Vehicles – Vans / Lorries etc.

Asset No: Length 10 characters (alphanumeric).  This can be auto generated.

Asset Name: Length 65 characters (alphanumeric).


Information about the Asset

Description: Description of the Fixed Asset.

Serial Number: Serial Number of the Asset.

Manufacturer: Name of the Manufacturer of the Asset.

Make and Model: Names of Make and Model of the Asset.


Asset Values

Cost Value: Original Cost of the Asset. This is a Mandatory field.

Last Depreciation Value: This is updated when depreciation is posted.

Accumulate Depreciation: Depreciation to date for existing assets.  (This is not applicable for new assets).

Net Book Value: The net book value is the current value of the asset you are adding. This is calculated as Cost minus Accumulated depreciation to date and is a mandatory field.

Residual Value: Expected value of the asset at the end of its depreciation life.

Insured Value: Insurance value of the asset.


Asset Status

Status: This is a mandatory field.  There are four system status settings.  Other custom statuses can be added within the system settings. Changes to asset status are tracked in the transaction history.

Live: Only assets with a Status of Live will be depreciated.

Hold: You can put assets on hold at any time, but they will not be depreciated until you change them back to Live.  You may do this if you are refurbishing an item.

Sold: This is a system state, but can be set should this be required.

Written off: This is a system state, but can be set should this be required.

Custom: Any custom asset status added in the settings will not be depreciated.


Asset Type

This field allows you to choose an asset type as defined in the Asset Types menu option under Maintenance – Use in conjunction with Sicon Hire Manager.


Asset Dates

Date of Purchase: When the asset was purchased.

Capitalisation Date: When the asset becomes usable/capitalised.  You can only depreciate the asset on or after the Capitalisation date.


Depreciation Settings

Depreciation Types Supported (Mandatory Field): Straight Line (% and Life), Reducing Balance (% and Life), Sum of Digits, None (for items fully depreciated but required on the register for traceability).

Period of First depreciation: Choose the first accounting period for the asset to start depreciating.

When to post depreciation: Allows you to choose if depreciation is posted periodically (allowing for 13 periods), quarterly or annually.  Usually set to periodically and defaulted to the current Sage Accounting period. Depreciation is calculated based on the number of days in a period.

Expected Life: Enter in Accounting Periods to reflect the expected life for calculating the correct depreciation posting values.  Required unless you select Percentage options for depreciation type in which case you will be required to specify the depreciation percentage rate.

Depreciation Rate: The percentage depreciation rate is needed to calculate the correct depreciation posting values.  Required unless you select ‘life’ options for depreciation type in which case you will have to specify the number of periods to depreciate across.


4.2. Setup TAB


Setup and Depreciation Posting Accounts

Balance Sheet: This is the Balance Sheet Nominal code where the depreciation will be credited.

Profit and Loss: This is the Profit & Loss Nominal code where the depreciation will be debited.

Project or Job code (Optional): If Project Accounting or the Sicon Job costing module integration is enabled in the Fixed Asset settings, you can set the project and project item or job and job cost header to post the depreciation values to this in addition to the nominal posting.


Purchase Invoice

Find Invoice: You can link an existing purchase invoice to an asset using the Add Existing Invoice button.  The purpose of this option is not to match an invoice value specifically to the asset, but to allow you to link an invoice to an asset for audit purposes.  For example, you may have a purchase invoice for £20,000 relating to several assets and you would need to link the same invoice to several asset records.  The value shown in the entry is not validated against the asset value, and the value will include VAT if applicable.

Supplier Account: Select the supplier account and all purchase invoices on that account will be listed.  Select the invoice that relates to this asset.  At this stage you can only link one purchase invoice, if you amend an asset later you can link many invoices to one asset.

Fixed Asset 5

Add Invoice: This opens the Purchase Invoice window and allows you to create an invoice and associate it to the asset by clicking the Save to Fixed Asset button.

Remove Invoice: Allows the removal of invoices attached to the asset.

View Transaction Details: When transactions have been posted they will become viewable.


Location Details

NB: This needs to be setup prior to adding an asset – changes to this option are tracked in history.

Description: Choose the location of the asset from the list available.

Department: Departments are linked to the Locations and complete automatically.

Address: Address details are linked to the Locations and complete automatically.

Associated Employee: Changes to this option are tracked in history.

Name: Choose the employee from the drop down list.

Employee No: This will automatically complete when the employee name is selected.


4.3. Vehicle Register TAB

The purpose of this information is to give the user an indication of the nominal posting values that will be made based on the configuration and option setting for this asset.

Fixed Asset 10

Here you can record vehicle specific details to a fixed asset in a category marked as vehicles.


4.4. Accident Log TAB

The accident log tab is also enabled in this instance, where accident details can be logged using the Add and Edit buttons.

Fixed Asset Accident Log


4.5. Planned Preventative Maintenance TAB

If a fixed asset category has planned preventative maintenance ticked, then this tab will appear when adding or amending the asset.  Any maintenance schedule can be entered here, along with instructions as an attached document.  As maintenance is performed, this can be recorded here along with supporting scans or documents.

Fixed Assets Amend Asset Planned Preventative Maintenance Tab


4.6. Transaction History TAB

Sicon Fixed Assets Help and User Guide Transaction History TAB

When an asset is selected, the transaction history of the asset is displayed.  The default view is all transactions, but these can be filtered using the transaction type select option.

Available Transaction Types

  • Change of Category
  • Change of Depreciation Details
  • Change of Employee
  • Change of Insurer
  • Change of Location
  • Change of Maintainer
  • Change of Nominal
  • Depreciation
  • Disposal
  • Purchase Invoice
  • Revaluation
  • Sales Invoice for Disposal
  • Status Changed

4.7. Maintenance TAB

Sicon Fixed Assets Help and User Guide - Amend Fixed Asset Maintenance TAB

Default Maintenance Provider

NB: changes to this option are tracked in history.

Reference: From the Supplier selection list you can link to the relevant account. These accounts are default supplier accounts in Sage.

Name: Automatically populates when the account is selected.

Telephone: Completes automatically when the account is selected if entered in the Sage record.

Insurance Category: This is defined in the Maintenance section under Insurance Categories. Many companies have no need for this setting.

Insurer: Changes to this option are tracked in history.

Reference: From the Supplier selection list you can link to the relevant account.  These accounts are default supplier accounts in Sage.

Name: Completes automatically when the account is selected.

Telephone: Completes automatically when the account is selected if entered in the Sage record.

When an asset is selected, the transaction history of the asset is displayed.  The default view is all transactions, but these can be filtered using the transaction type select option.

Available Transaction Types

  • Change of Category
  • Change of Depreciation Details
  • Change of Employee
  • Change of Insurer
  • Change of Location
  • Change of Maintainer
  • Change of Nominal
  • Depreciation
  • Disposal
  • Purchase Invoice
  • Revaluation
  • Sales Invoice for Disposal
  • Status Changed

Record Maintenance

It is possible to record and maintain Asset Maintenance History.  You have an option to add purchase invoices in the purchase ledger and link them to an asset as a maintenance invoice.  You can add an invoice within the maintenance screen or link to an existing invoice within the Sage purchase ledger.  It is also possible to add miscellaneous costs when time may be incurred in maintaining an asset.

Fixed Assets help and User Guide - Amend Asset Maintenance Record

To associate a maintenance cost click the Add button in the Maintenance tab once you have selected the asset.  The Maintenance Record screen is displayed and you can either: Add Existing Invoice or Add New Invoice (this will add to the purchase ledger in the normal way) or Enter a miscellaneous cost entry.


4.8. Attachments TAB

In this Tab you can add attachments to the asset in the same way as any other module in Sage.  Items such as Word documents, spreadsheets, images etc. can all be attached.

Fixed Assets Help and User Guide - Amend Fixed Asset Attachments TAB


4.9. Asset Forecast TAB

The purpose of this information is to give the user an indication of the nominal posting values that will be made based on the configuration and option setting for this asset.

Sicon Fixed Assets Asset Forecast Tab

In the example above, this asset shows that there are depreciation postings remaining in the currently configured future accounting periods.  More periods would need to be added before the asset can become fully depreciated.

This forecast information is often used by the finance team to export, as a report, by nominal code (cost centre & department) in order to be used as part of the depreciation budget process for coming years.

For more information on the purpose of specific fields within the Fixed Asset system please see the Adding an Asset Section.


5. Asset Disposal

You can dispose of an asset at any time.  Two options are provided for the disposal of an asset:

  • Write-off of an asset
  • Sale of an asset

These are selected from the Reason For Disposal drop down list.

The disposal of an asset will make the relevant nominal postings directly to the nominal ledger.  Please ensure that the asset category nominal codes are configured correctly, this will guarantee that the postings correctly reflect the disposal process.

If you choose Write-off Asset you can enter a free text reason description.

If you choose Write-off Asset you can enter a free text reason description.

Fixed Asset - Asset Disposal Write-off an asset

Click the Show All Assets button and select your asset to dispose of, or select the Category then the Asset to dispose of.

Click Dispose.

Fixed Asset 15

Change the posting date if required and click Dispose to complete the transaction. If you have entered all the codes in the asset category these will be completed for you automatically.

To dispose of an asset as a Sale, select Sale of Asset from the drop down list.

Select the Category and the Asset to be sold.

Click Dispose.

Sicon Fixed Assets Help and User Guide - Record Disposal Summary write off an asset

Enter the Disposal Gross Value. Sales invoices can be associated to the disposal via the Find Sales Invoice or View Invoice Details buttons. Clicking Enter New Free Text Sales Invoice will open a Purchase Invoice Create Free Test Invoice Window.

Click Dispose to proceed.


5.1. Disposal of a Fixed Asset - v2010.0.8 and later

When disposing of an asset, a nominal journal will be generated for the following postings:

NB: all nominal postings shown in blue relate to a selected/entered Sage sales invoice.  These postings will have been generated by the sales invoice transaction and therefore will not be created by the disposal process.  A debit will be posted to the fixed asset depreciation Balance Sheet account for the value of previously posted depreciation.  If multiple depreciation balance sheet accounts are selected, this value will be split by selected percentage.

Fixed Asset 17

Fixed Asset 18

credit will be posted to the fixed asset original purchase (cost) account selected during the disposal process.  This account is defaulted to the asset category ‘cost / purchase’ account but may be amended if required.

debit will be posted to the sale/write off of asset account selected during the disposal process.  This account is defaulted to the Fixed Asset category ‘sale of asset’ or ‘fixed asset write off’ account but may be amended if required.


6. Amend Asset Depreciation Details

Select the depreciation type from the list.

Fixed Assets: Amend Asset Depreciation Details

Change the Depreciation Type and Rate as required.

Click Process, you will be prompted to confirm the changes – if you need to amend any details select No otherwise click Yes.

Fixed Asset 20


7. Revalue Fixed Asset

You can revalue an asset at any time.  Revaluations can be made to increase or decrease the value of an asset.  The revaluation of an asset will make the relevant nominal postings directly to the nominal ledger.

Please ensure the asset category nominal codes are configured correctly to ensure the postings reflect the revaluation process.  To make this easier, we have added functionality to guide you through the steps.

Sicon Fixed Assets help and User guide - Revalue a Fixed Asset

Step 2: Choose the asset and type in a description reason for the revaluation.

Sicon Fixed Assets help and User guide - Revalue a Fixed Asset

Step 3: Select the posting date and set the nominal codes.  These will complete automatically if they have been configured in the category section of the product; but can be amended if required.

The Revaluation reserve nominal account is used when the future value of an asset is higher than the existing cost of the asset.

Sicon Fixed Assets help and User guide - Revalue a Fixed Asset

Step 4: Confirm the changes in value.  The new figures must balance or you cannot continue the process.  You can increase or decrease the value of an asset.

Sicon Fixed Assets help and User guide - Revalue a Fixed Asset

Step 5: Check the summary screen values before pressing the Finish button to complete the process.  If at any time you identify an error use the Back button to return to a previous stage of the process.

Sicon Fixed Assets help and User guide - Revalue a Fixed Asset

At the end of the revaluation process, the system will regenerate the asset depreciation forecast to ensure posting comparisons and reports are up to date and reflect the changes made.

Fixed Asset 26


8. Delete Fixed Asset

Providing an asset has not been depreciated, you can delete it from the system. Select the asset from the drop down list and click Delete.

The example shown is for an asset that has had depreciation posted and therefore cannot be deleted.

Sicon Fixed Assets Help and User Guide - Delete Fixed Asset


9. Hold Asset

Basic asset set up below showing live asset and forecast:

Sicon Fixed Assets for Sage 200 Help and User Guide - Hold an asset
Periods 4, 5, 6, 7, 8 and 9 have had depreciation posted this gives the following forecast:

Sicon Fixed Assets for Sage 200 Help and User Guide - Hold an asset

To put the asset on hold on the Details tab you change the Asset Status to ‘Hold’.  There is a tick box for ‘until’: The date populated here is the current open accounting period and will need to be amended accordingly.

If this is left un-ticked then it will hold the asset either indefinitely or once hold is reverted to live the asset will continue to be depreciated from the last posted period.

Sicon Fixed Assets for Sage 200 Help and User Guide - Hold an asset

When depreciation is posted for the periods the asset is on hold for, no posting will take place for that asset.

When you run the depreciation for the periods before 12 this item will not be displayed, however on period 12 when the Display button is pressed this item will be displayed and will be returned to Live and be ready for depreciation.

Once the Held period has passed the forecast for the asset is re-generated and skips the periods where the asset was held and re-calculates the depreciation over the remaining periods.

Sicon Fixed Assets for Sage 200 Help and User Guide - Hold an asset 3

 


10. Enquiries

In the enquiry screen you can view the details of an asset, but you are unable to amend, add or delete any details.  An additional feature has been added to this screen to show the list of assets.  In the example below, the list of assets is visible allowing you to scroll through each asset in turn:

Sicon Fixed Assets Help and User Guide - View Fixed Assets


11. Period End Routines


11.1. Post Depreciaition

The Fixed Asset module provides a monthly routine to post depreciation values for each asset.  The nominal codes are defined on each asset; default nominals are defined in each asset category when created.

When you select the Post Depreciation option, you will see that the current nominal ledger period is displayed in the top left corner of the screen.  This is the period into which your depreciation postings will be made.  You can choose the date within this period that you wish to post these transactions. (If there are assets that deprecation has not been run, it will default to a previous date equal to the date of the asset where depreciation is missed)

NB: this routine looks at the system set Status of ‘Live’.

Sicon Fixed Assets Help and User Guide - Period End Routines Post Depreciation

You will notice one additional column has been added for the fixed assets module.  The fixed assets module period will close automatically when you close the nominal.  If you try to close the nominal while there are assets depreciation postings pending, you will receive a warning message.

Depreciation Postings

When you are ready to post your depreciation, simply press the Post Depreciation button.  By default this will print a posting report for the assets depreciation postings made to the nominal.

If you add additional assets to the Fixed Assets module after the posting routine has been run, you can run the same process again.  There are no changes to the process, but only new assets will have the depreciation postings made.

If you are unsure of your accounting period, refer to the Accounting System Manager where you can see the status of the fixed asset and nominal periods.

Sicon Fixed Assets Help and User Guide - Period End Routines Post Depreciation


11.2. Year End

For any accounting advice with regards to accounting terms and/or advice which nominal accounts you should be using please speak with your accountant , as Sicon cannot offer any accounting advice.

The Year End process within Fixed Assets is a new feature in 2015.15.0.16

If your company does not have different balance sheet nominal codes for additions and depreciation brought forward and at year end do not  move balances from additions / depreciation – this feature is not relevant to you – so do not enter nominal codes in the bottom 2 fields on each fixed asset category, otherwise the system will force you to use the year end process.

However if as part of your companies fixed asset year end routine your accountants , auditors move the current year additions to additions cost brought forward, and likewise for depreciation this year to depreciation brought forward until this new feature this process would be a manual exercise within the Nominal Ledger, via a manual journal.

Where this applies, this process can be carried out within Sicon Fixed Assets as below.

Based on Nominal codes set up within your Nominal Ledger (example below)

Against each Asset Category using the two bottom fields enter the relevant balance sheet Year End Depreciation brought forward balance sheet nominal code (2nd to last ) and your Year End Additions brought forward balance sheet nominal code (last field)

The Year End Process

  • Prior to running make sure that the nominal ledger has no waiting transactions / deferred transactions waiting for the current year
  • When selecting the Year End Menu option, the screen displays the nominal account balances at the point of time the year end process is run** (it does not compare  or look at what Fixed assets have been added in a given period of time / year).

If a category does not have nominal codes for the year end assigned they will not be included in this year end process journal.

** Remember The Year End Process/journal simply moves the current nominal account balance on the accounts as numbered in the screen shot  / explained below**

From the Cost/Purchase nominal code (addition)  In screen shot example labelled 3 and moves/journals to  Year End additions nominal code  in screen shot example labelled 4
And
From the Depreciation Current Year nominal account , In screen shot example labelled 1 and moves/journals to Year end depreciation balance sheet nominal , in screen shot example labelled 2

Selecting OK will process the journal, and confirm the year end is complete.

IMPORTANT NOTES:  

Because we are only reading nominal account balances , if in previous years , the accountants have not moved additions this year / depreciation this year to brought forward accounts, you need to be aware that you will  / may end up with a movement (value) potentially off a much higher value than you expected / more than the additions / depreciation just in this year , so careful consideration should be taken

Going forward where you wish to ensure that when company assets are purchased that where relevant assets are created and treated as additions we recommend you switch on the ‘Force Fixed Asset’ feature as detailed within the settings https://www.sicon.co.uk/user-guide/fixed-assets-help-user-guide/#3-4  , if enabled   this will change the operation of the purchase invoice entry screen. If the nominal code entered on the invoice, is one that has been set as a default within Fixed Asset Set-up, against a Category in relation to Cost / Purchase Nominal Code (Addition), the P/L Invoice save button is disabled, and users will be forced to enter a fixed asset, using the ‘Save Fixed Asset’ Button. Once the Fixed Asset is saved then the Invoice will be saved.

Please also remember that its possible for manual journals to be created within the nominal ledger , nominal journals do not affect the fixed assets module , so if users for whatever reason enters manual journals to any of the nominal codes associated with a fixed asset category or an individual asset you are likely to end up with discrepancies.

For any accounting advice with regards to accounting terms and/or advice which nominal accounts you should be using please speak with your accountant , as Sicon cannot offer any accounting advice.


12. Reports

The fixed assets module includes a number of standard reports with many optional criteria that can be selected in each report.  These reports are designed in the standard Sage 200 report designer; as such, they can be amended or new reports can be written for your specific requirements by you or your business partner.

The Fixed Assets module includes a number of standard reports with many optional criteria that can be selected in each report.

Sicon Fixed Assets Reports


12.1. Acquisitions and Disposals

Sicon Fixed Assets Reports - Aquisitions & Disopsals

Disposals (Detail)

Criteria or Disposals (Detail)

Disposals - Detail Report

Disposals (Summary)

Criteria for Disposals (Summay) Report

The example below was for the Vehicles category

SIcon Fixed Assets Help and User Guide Disposals (Summary) Report

List of Acquisitions

List of Acquistions Criteria screen

List of Acquisitions example


12.2. Depreciation

Depreciation Postings (Detail)

Sicon Fixed Assets Help and User Guide - Depreciation posting detail report

Sicon Fixed Assets Help and User Guide - Depreciation postings

Depreciation Postings (Summary)

Sicon Fixed Assets Help and User Guide - Depreciation postings summary

Depreciation (Year to Date)

Depreciation (For Year Ending)

Posted Depreciation

Posted Depreciation (By Nominal Code)

Posted Depreciation (By URN)



12.3. Detail

List of Assets

 List of Assets by Category (Detail)


List of Assets by Category (Summary)

List of Assets by Insurance Category

List of Assets with Residual Value

List of Categories

List of Maintenance

List of Nominal Codes

List of Serial Numbers

List of Transactions

 


12.4. Forecast

Forecast by Period

Forecast by Period and Category

Forecast by Period (Summary)

 


12.5. Period

Period Report (Detail)

Period Report (Summary)

Period Valuation by Sub Category and Category

Period Valuation by Asset


12.6. Utility

List of Zero Cost Assets

Run this report to check what assets have been added but are at Zero £0 cost.

No Depreciation Check Reports

Run this report to check what assets have been added but have had no depreciation.


12.7. Year End

Depreciation (For Year Ending)

Year End Report (Detail)

Year End Report (Summary)

Year End Valuation By Asset

Year End Valuation By Category

Year End Valuation By Sub Category and Category


13. Maintenance

The Maintenance section of the Fixed Asset module is where configuration is done in order to be able to enter information against assets.

This configuration includes lists of employees, locations etc.  The only mandatory one is Category.


13.1. Categories

The purpose of the Assets Category is to allow you to group assets for reporting and to assign default nominal codes for new assets added to the category.

Examples of asset category:

Office Equipment

  • Desks
  • Chairs
  • Filing Cabinets

Vehicles

  • Cars
  • Vans
  • Mini Buses

Buildings

Sub Categories can be created for each Asset Category to further sub-divide the assets for reporting purposes, as shown above.

The default nominals are configured at category level not sub-category level.

Default Nominal Accounts

Against each asset category you can configure the default nominal, which will automatically be assigned to each New Asset during the creation of a new asset, and when assigning a category .

There are two mandatory nominal that must be setup those being :-

Depreciation Balance Sheet nominal and the Depreciation Profit and Loss nominal codes, these are used during the depreciation routine , and are therefore a system requirement

The next two defaults are not mandatory but advisable if  you ever record disposals, write offs, or sale of assets , those being :-

Sale of Asset Nominal Code and Fixed Asset write off nominal codes , they are used within the wizards available to record asset disposal (s) write off and/or sale  https://www.sicon.co.uk/user-guide/fixed-assets-help-user-guide/#5

Year End Default Nominal Codes  – If your company does not have different balance sheet nominal codes for additions and depreciation brought forward and at year end do not  move balances from additions / depreciation – this feature is not relevant to you – so do not enter nominal codes in the bottom 2 fields on each fixed asset category, otherwise the system will force you to use the year end process

However if as part of your companies fixed asset year end routine your accountants , auditors move the current year additions to additions cost brought forward, and likewise for depreciation this year to depreciation brought forward until this new feature this process would be a manual exercise within the Nominal Ledger, via a manual journal.  Where this applies, this process can be carried out within Sicon Fixed Assets as explained within https://www.sicon.co.uk/user-guide/fixed-assets-help-user-guide/#11-2

The Other area of the system that will require a default nominal code is the balance sheet Revaluation reserve nominal account, which is set up within the settings tab https://www.sicon.co.uk/user-guide/fixed-assets-help-user-guide/#3-4

This Revelation reserve nominal account default is use when you revalue an asset , and where the future value of an asset is higher than the existing cost of the asset https://www.sicon.co.uk/user-guide/fixed-assets-help-user-guide/#7

For any accounting advice with regards to accounting terms and/or advice which nominal accounts you should be using please speak with your accountant , as Sicon cannot offer any accounting advice.


13.2. Locations

The Asset Locations need to be setup to identify where each asset can be found, these may be locations in a building or locations around the country.  You can add as many asset locations as you need.

Options are available in the reports selection criteria to search and report on specific locations.  Changes to the Asset Location made to any asset, will be updated in the asset transaction history for audit purposes.

Sicon Fixed Assets - Maintain Asset Locations


13.3. Insurance Categories

The asset insurance category has been added to enable you to group assets for reporting purposes.  Many organisations do not require this option and it is not a mandatory field when adding a new asset.  You can add as many insurance categories as you require.  These are descriptive fields that suit insurance types that are relevant to your business.

Sicon Fixed Assets - Maintain Insurance Categories


13.4. Asset Types

Asset types are defined in this screen:

SIcon Fixed Assets - Maintain Asset Types - linked to Sicon Hire Manager

NB: these are only used when linking Assets within Sicon Hire Manager.


13.5. Define Tabs

Here you can define additional custom tabs to be included in the fixed assets screens, to which you can assign your own custom fields.

Sicon Fixed Assets Help and User Guide - Define Custom Tabs


13.6. Define Custom Fields

In this section you can assign any of the custom fields for use in fixed assets, choose which tab they will appear on and give then a Display Name that you will identify them with. (Custom Tabs created within the Define Tabs folder need to be created first).

Sicon Fixed Assets - Maintenance - Define Fields

Sicon Fixed Assets - Maintenance - Define Fields

NB: Custom Tabs and Fields are unique to the customer there are no standard reports. Custom Fields are stored within the data module so could be used of custom reports .


13.7. Employees

The Employees needs to be setup to identify who is responsible for each asset within an organisation, these may include employees, subcontractors, suppliers or anyone else who is responsible for an asset.

You can add as many asset employees as you need.  Options are available in the reports to select all assets for a specific employee.  Changes to the Employee, made to any asset, will be updated in the asset transaction history for audit purposes.

Sicon Fixed Assets - Maintain Employees

Companies who wish to simply record equipment linked to an employee for information purposes only (i.e so when an employee leave they have a list of equipment that the employee has to hand back etc)  , and where the asset was a value under a certain value and therefore no depreciation is required, because it has been written 100% to the P & L at point of purchase, would create a status of ‘ Employee Asset ‘ and then associate the asset £0 value asset  to this ‘Employee Asset’ status. The routine for depreciation will not look at any assets with this status, but they can be reported on and be included in list views (2015 onwards)


13.8. Fixed Asset Structures

This allows you to associate assets together in a tree structure format to identify assets that are grouped together within the company. This is a drag and drop function to create the structure.

Sicon Fixed Asset Structures


14. Utilities

The Utilities section of the fixed assets module provides configuration settings, import and depreciation postings facilities.  They are included in this settings menu section so that menu options can easily be removed from users that do not need to have access to them.  It is essential that the settings options are reviewed before using the fixed assets system.


14.1. Generate Forecasts

This feature is to build the tables of values to plan the depreciation postings of every asset and are built automatically.  However, this option remains should the need arise to fix any data corruption or restored data.

The forecast table holds all the projected postings values and dates for every asset in the fixed assets system.  These can be viewed on the forecast tab within the Amend or View asset options.

The default is to generate forecast for New fixed assets and existing assets with no depreciation currently posted. Clicking any of the Radio buttons will allow generation forecasts for the other options.

Sicon Fixed Assets Generate Forecasts


14.2. Import from CSV

NB: using the ‘Example Import File as detailed below will ensure that you use the correct import file relevant to the version of Fixed Assets being used.

Sicon Fixed Assets - Import Fixed Assets from CSV

The import routine allows you to create all of your assets on a spreadsheet and load them into the Fixed Asset module when saved as a .csv file. It’s important to ensure that the preparation of the spreadsheet for import is driven by a certain point in time i.e. you need to have net book values after a depreciation has been run for month xx , the import file prepared, reviewed and signed off , and it must be imported ahead of the first depreciation period that is planned to be run in sage 200 ( If go live is delayed for any reason, and manual postings take place, then before importing review and ensure information is correct.

The import process will validate the data in each field against the import template

Use the Function / button ‘Example Import File’, clicking this will open 2 Excel spreadsheets, one example and one detailed. The Example one may be populated for importing. Leaving the Ignore first row ticked means you do not have to remove this row from the CSV file before importing the data.

NB: please be aware that any old templates that you may still have will no longer work, they have to be generated using the Example Import File button.

By using the Import from CSV process to load your initial data, much of the setup process will be done for you automatically, saving you setup time before completing the import.  The import process will validate nominal codes, supplier accounts etc., but it will create:

  • Asset categories
  • Asset Sub categories
  • Employees
  • Locations

Click Find to choose the required file to import.

Using the Check File option will validate the fields and flag any errors prior to importing – errors will show highlighted pink and indicate what is wrong with the line.

Sicon Fixed Assets - Import Fixed Assets from CSV

When the files have been validated and are all correct click the import button.

You will get a message box to confirm the import has completed and be prompted to Generate Forecasts.

Sicon Fixed Assets - Import Fixed Assets from CSV

Clicking OK will present the following screen.

Generate Forecasts will produce the forecast for the assets imported, as the default in this screen is to generate forecasts for New fixed assets only.

Sicon Fixed Assets - Import Fixed Assets from CSV
When you OK this message and close the Generate Forecast window, the Update Annual Depreciation Totals is presented.

Sicon Fixed Assets - Import Fixed Assets from CSV

Clicking Search then Update will ensure all assets on the system have the depreciation totals updated.

Sicon Fixed Assets - Import Fixed Assets from CSV

Sicon Fixed Assets Import


14.3. Issue Stock to Fixed Assets

NB: primarily used when Sicon Hire Manager installed, but can be used as a method to create a Fixed Asset from an item that is in Stock

This utility is used to convert an item from stock into a fixed asset.  This can be used for things like Hire or stock that is going to be used by the business. E.g. a laptop from stock is now needed by a member of staff so it is transferred from Stock to fixed assets.

Sicon Fixed Assets - Issue Stock to Fixed Assets

Mandatory fields are:

  • Stock Location
  • Date
  • Quantity
  • Category
  • Asset Status

Selecting a Category that has not got all the nominal codes set will present the following dialog box. Edit the category to assign the nominal codes as required.

Fixed Assets 64

Once all details have been entered click Save to get the confirmation message.

Fixed Assets 65


14.4. Settings

The asset settings should be reviewed and configured before using the fixed asset system.

Please refer to the Fixed Assets Help and User Guide Settings section.


15. Nominal Ledger Postings

Sicon Fixed Assets Nominal Ledger Postings

When depreciation is posted the following nominal journal will be generated:

Fixed Assets 79

debit is posted to the Fixed Asset depreciation profit & loss account.  If multiple depreciation profit & loss accounts are selected for the asset, this value will be split by percentage.

Sicon Fixed Assets Help and User Guide - Nominal Ledger Postings
credit is posted to the fixed asset depreciation balance sheet account.  If multiple depreciation balance sheet accounts are selected for the asset, this value will be split by percentage.

The posted value will be calculated dependent on the asset depreciation method.


16. Enable Module

Each year your Fixed Assets module will require a new enable string to continue working.  When you have been issued with your new key, select this option and enter the code into the New enable string field as shown below (copy and paste is the easiest way).

Sicon Fixed Assets Enable Module


17. Release Notes

The Release Notes document below shows which release of the Fixed Assets system includes which new features and for which version of Sage these will work. The version number indicated in the Fixed Assets Release Notes includes a full release number and a sub version number; e.g. ’6.1′ indicates the full release version number of the software.  Pre-release version builds of the software are available to certain clients requiring new or enhanced features being developed from the wish list.  If these versions are installed on your system, you will see an additional number e.g. 39.113 making up a specific database version and interim build number of 6.1.39.113. It is unlikely that these features will be documented in this help and user guide until the end of the development phase.

Fixed Assets Release Notes

18. Fixed Assets Downloads

Software License Agreement

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