Sicon Fixed Assets Help and User Guide


Table of Contents

Product overview

Help and User Guide based on Sicon Fixed Assets Release v18.0.0.0


The Sicon 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 Sicon Fixed Assets

The Sage 200 Sicon 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 Sicon Fixed Assets

Sicon Fixed Assets Installation

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 Help and User Guide - Fixed Assets Settings - Status of assets tab


3.3. Posting Options TAB

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

The three options are:

Off: Neither Sicon Job Costing or Sage Project Accounting Integration enabled

Sicon Fixed Assets Help and User Guide - Fixed Assets Settings - Posting Options

Enable Integration with Sicon Job Costing

Sicon Fixed Assets Help and User Guide - Fixed Assets Settings - Posting Options Job Costing Enabled

Enable Integration with Sage Project Accounting

Sicon Fixed Assets Help and User Guide - Fixed Assets Settings - Posting Options Sage Project Accounting Enabled

Project accounting needs to be enabled in the Sicon 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:

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

Note: Sicon are not Sage Project Accounting experts, so for any advice on pricing rules, project item set up types and nominal codes to be used, please refer to your Sage 200 Business Partner


3.4. Settings TAB

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

Enable Multiple Quantity Asset Batch: Use with Care and understand the implicationsThis has been introduced to enable those customers using Sicon Hire , to add a QTY to a Fixed Asset Record, which in turn is flagged as a Hire Asset and therefore being accessible to hire out on a hire order line. Some customers have small hire out items (such as hoses) and rather than create a hire / fixed asset for each hose they have one asset with a QTY. If enabled then from within Hire manager when issuing stock to Fixed Assets you will be issuing batches of 1 or xx (depending on the number of stock items issued) , you will then have 1 fixed asset record with a batch = to the number of items issued. If each stock item being issued was a £100 and you issued 10  your single Fixed Asset Record Net Book value would be £1,000. Within Hire manager you can then hire out the individual items within the 1 batch / 1 fixed asset record.

Important Note: The field is just a notional field, and can be changed on the fixed asset record, with no regard to the Qty out on Hire . For Example if you add a batch Qty of 6 on a Single Hire/Fixed Asset record, and hire all those 6 out to customers , if a user went into the Fixed Asset record and changed the 6 to 4, at this time the system will not warn you that you should not change to 4, or warn that there are 6 out on hire. 

If as a company you are not using the Sicon Hire Module, but would like to make use of this Qty Feature on an asset, that’s fine, but again please be aware that if you add a Single Asset (for example an asset called office monitors) and add a Qty of 10 , with the relevant value and start to depreciate , that if you changed the Qty to 9 , the system will not prompt you to revalue, or action any write off process. You would need to manually revalue if that’s the equipment

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 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. Fixed Assets Analysis Codes

In release v18 Sicon have added the functionality / ability to add up to 150 analysis codes to an asset. These are ONLY used within Sicon Fixed Assets, and do not feed through to other modules, but can be added to any custom module reports using standard Sage 200 Report Designer and the fields available in the fixed asset tables.

Sicon Fixed Assets Help and User Guide - Fixed Assets Settings - Fixed Assets Analysis Codes


3.6. Service Manager Tab

This tab will only be enabled if Sicon Service Manager is installed and enabled, and is being used in conjunction with Sicon Hire Manager.

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

Within Hire Manager there is a process to Issue stock to Fixed asset in order to create a hire asset at that point if service manager is also installed then an equipment record is created in the background and since a piece of equipment has to belong somewhere, whilst the hire asset is not out on hire the internal sales ledger account specified here will be assigned to the equipment.


3.7. 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. Adding New Fixed Assets

There are three methods to creating a new asset:

  • Create from within the Fixed Asset Module – Link to 4.1
  • Create whilst entering a supplier’s invoice – Link to 4.2
  • Issuing Stock to Fixed Assets – Link to 4.3

4.1. Create from within the Fixed Asset Module

(this is the only method that allows you to populate details on other tabs on the Fixed Asset record whilst creating, the other 2 methods would require users amending the asset and finishing set up)

To access this function, from the menu select Enter New Fixed Asset:

OR

From the desktop list, select the shortcut icon  ‘New’:

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

Sicon Fixed Assets Help and User Guide - Add a new asset from within the Sicon Fixed Assets Module 3

If, within the Settings, Auto number is enabled, the asset number will be assigned automaticall.  If auto number is not enabled within the Settings, upon saving the asset the user will be prompted to enter the asset number.

The asset Name is your description of the asset, which will show on list views and reports.  NB: this cannot be changed after saving.


4.2. Adding a New Asset whilst adding a purchase invoice within Sage 200

If, within the Settings Tab in the Sicon Fixed Assets Settings, the ‘Force Fixed Assets Invoices’ is enabled:

Sicon Fixed Assets Help and User Guide - Adding a New Asset whilst adding a purchase invoice within Sage 200

When a user adds a supplier’s invoice within Sage 200 and selects a nominal code that is set as default against a fixed asset category as the Cost / Purchase nominal (Addition):

Sicon Fixed Assets Help and User Guide - Adding a New Asset whilst adding a purchase invoice within Sage 200 2

The system will force* you to create a Fixed Asset (or multiple if necessary), and until you do, using the ‘Save Fixed Asset’ button the standard Sage ‘Save’ button will be greyed out:

Sicon Fixed Assets Help and User Guide - Adding a New Asset whilst adding a purchase invoice within Sage 200 3

If the user does not select a defaulted nominal code the Button ‘Save Fixed Asset’ is available to create a new asset (or indeed multiple assets), in this instance the standard ‘save’ button is not greyed out, but they still can create a new asset.

Its only when the ‘Force Fixed Asset’ feature is enabled within settings that it becomes mandatory.

When ‘Save Fixed Asset’ is selected, the user will be given the choice to either.

‘Save’ (meaning create a brand new asset).

Sicon Fixed Assets Help and User Guide - Adding a New Asset whilst adding a purchase invoice within Sage 200 4

OR

Add an Invoice relating to an existing fixed asset but where it’s an invoice relating to maintenance of a current asset:

Sicon Fixed Assets Help and User Guide - Adding a New Asset whilst adding a purchase invoice within Sage 200 5

Sicon Fixed Assets Help and User Guide - Adding a New Asset whilst adding a purchase invoice within Sage 200 6

For example:

You have a company vehicle set up as an asset, the vehicle has been in for repair and the garage sends you an invoice.  When you enter the invoice you would like to associate the invoice with the existing asset. When adding this type of Maintenance Invoice, when looking on the ‘Maintenance Tab’ of the asset itself the linked invoice details for maintenance will be visible.

Sicon Fixed Assets Help and User Guide - Adding a New Asset whilst adding a purchase invoice within Sage 200 7

Important Notes:

When creating an asset, whilst adding an invoice for maintenance through purchase ledger invoice process entry no changes are made to the original asset value, neither does the value of the asset being added has to equal the invoice value (as it may be the invoice also has items that are as non-asset related costs).


4.3. Issue Stock to Fixed Assets

Primarily introduced to the Sicon Fixed Assets module to be used in conjunction with the Sicon Hire Manager module as a method to convert stock to an asset flagged as a hire asset (And in turn being hired out to customers).

This 1 step process is used to convert an item from stock into a fixed asset and replaces what would normally be a 2 step process of processing a stock internal issue or write off (to reduce the Qty in stock) and then a second step of adding a new asset, (to add the new asset).

Example: The company using fixed assets module is an I.T company and a new server has been purchased for internal use, it’s also an item that is an item in stock control, and a purchase order was raised against a supplier for the purchase of the server and thereafter the server was booked into stock.

Using this method to transfer to Fixed assets will reduce the stock item quantity, reduce the stock balance sheet value, and increase the nominal associated with the internal specified during the routine (Normally a balance sheet nominal code for asset additions), in our example 06100 Internal Area Being Internal I.T – with an associated nominal code of 06100 a balance sheet code for Office EQUIPMENT Additions.

The issue stock to Fixed Assets process can be found under utilities within the Fixed Asset Menu.

Sicon Fixed Assets Help and User Guide - Issue Stock to Fixed Assets 2

Select the relevant stock code being transferred, thereafter:

  • Stock item warehouse from which its being transferred
  • The relevant Fixed Asset category and Sub Category
  • Asset Type/warehouse are fields primarily used when integrated with Hire Manager
  • The relevant Internal Area (Which as above will determine the nominal code that will be debited, when stock nominal is credited)
  • Date of transfer, references (which are written to stock history)
  • Asset location & department (If used)
  • The Contract and Contract Line fields seen in the screen shot below would only be visible where Sicon Contract Module installed / enabled

Sicon Fixed Assets Help and User Guide - Issue Stock to Fixed Assets 3

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

If the stock item is a serialised item, the user will be asked to select the relevant serial number manually by ticking, or if using a usb scanner, click in the field ‘Serial number’ and scan the serial number of the stock item.

Sicon Fixed Assets Help and User Guide - Issue Stock to Fixed Assets 4

If serialised click OK.

Sicon Fixed Assets Help and User Guide - Issue Stock to Fixed Assets 5

Thereafter the user will see confirmation that the asset has been created.


5. Fixed Asset Additional Info Tabs


5.1. Setup Tab

The assigned category will be display within the set up tab, pulling through the default depreciation nominals to be used, these can be changed on an individual basis if required.

Sicon Fixed Assets Help and User Guide - 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.

In our example we are posting 100% of the monthly depreciation from and to one single nominal account, but if as a company you had departments within the nominal ledger and wanted to spread the monthly depreciation between several departments percentage wise, you could do so (as long as total was 100%).

The Contract and Contract Line fields seen in the screen shot below would only be visible where Sicon Contract Module installed / enabled.

Project or Job code (Optional): If Sicon Job costing module or Sage’s Project Accounting 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.

Location, Department and Associated employee are optional fields.

Purchase Ledger Transactions

Use this functionality to either:

Link a previously entered invoice (example being the invoice for which the asset was purchased).

Sicon Fixed Assets Help and User Guide - Setup TAB2

Add New Invoice, this could be used for example if your companies process was that the Asset was added to the system first, and then the invoice was added (Only to be used if you enter supplier invoices of this nature directly into the purchase ledger, rather than matching to a POP order).

Sicon Fixed Assets Help and User Guide - Setup TAB3

Remove transaction, if one was linked by accident.

Sicon Fixed Assets Help and User Guide - Setup TAB4

View Transaction Details

Sicon Fixed Assets Help and User Guide - Setup TAB4

View Transaction Details.

Sicon Fixed Assets Help and User Guide - Setup TAB5

Gives you the option to either view the nominal details behind the linked invoice or the supplier transaction enquiry behind the linked invoice.


5.2. Vehicle Register TAB

(Only visible if the asset is linked to a category that is flagged as being a Vehicle category)

Use this screen to store additional useful information, none of the fields are mandatory and for information purposes only, which could be used to create custom reports.

Sicon Fixed Assets Help and User Guide - Vehicle Register Tab


5.3. Accident Log TAB

(Only visible if the asset is linked to a category that is flagged as being a Vehicle category)

Sicon Fixed Assets Help and User Guide - Accident Log Tab


5.4. Planned Preventative Maintenance TAB

(Only visible if the asset is linked to a category that is flagged as having planned preventative maintenance)

Used to record any planned preventative maintenance routines, i.e. MOT, Service, Vehicle Checks.


5.5. Transaction History TAB

Simple listing showing asset history of depreciation, any revaluations, change of locations, employees etc  [ Can be sent to excel for reporting, by right clicking, export to excel].

Sicon Fixed Assets Help and User Guide - Transaction History Tab


5.6. Maintenance TAB

Simple way to linked an invoices in from a supplier which are costs associated for maintenance of an asset, for example replacement tyres for a vehicle.

Sicon Fixed Assets Help and User Guide - Maintenance Tab


5.7. Attachments Tab

Simple way to linked any attachments, documents, pictures relating to the asset.

Sicon Fixed Assets Help and User Guide - Attachments Tab

Users can add, delete unwanted attachments, add a complete folder, set a description, create a link to a file or simply view the attachment:

Sicon Fixed Assets Help and User Guide - Attachments Tab 2


5.8. Memo Tab

Simple place to record notes and memo’s:

Sicon Fixed Assets Help and User Guide - Memo Tab


5.9. 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 Help and User Guide - 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.


5.10. Analysis Codes Tab

Where within settings, some of the possible 150 Analysis codes have been configured to be used, they will be seen here to be set at an individual asset level.

Sicon Fixed Assets Help and User Guide - Analysis Codes Tab

Those mandatory will be flagged with a *

Sicon Fixed Assets Help and User Guide - Analysis Codes Tab 2

If a user tries to save this screen without setting a value, the user will be warned.


5.11. Custom Tab(s)

NB: could be multiple of, depending on how many have been added / defined within The Maintenance Menu Item.

Sicon Fixed Assets Help and User Guide - Custom Tabs

Custom Tabs were part of the module prior to analysis codes being added and were / are a way of adding additional information, in either a text, date, or yes / no scenario.

For example, if you need to record a date that an asset was last electrical tested (Pat Tested), or what is the asset tag number placed on the asset.

Depending on how they have been defined when the relevant Tab is selected the user can enter the relevant details.


6. 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.

Sicon Fixed Assets Help and User Guide - Asset Disposal

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.


7. 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


8. 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


9. 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


10. Fixed Asset List

From the Fixed Asset Menu, users can select to list the assets in a list view.

Sicon Fixed Assets Help and User Guide - Fixed Asset List

As with standard sage & Sicon list views users can create custom list views to suit their own requirements by clicking in the list, using right mouse function selecting columns and either tick or untick the relevant info column to include.

Users can also right mouse click and Export to excel.


11. 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

 


12. 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


13. Period End Routines


13.1. 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 Sicon 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


13.2. 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.


14. Reports

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

Sicon Fixed Assets Reports


14.1. 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


14.2. 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)



14.3. 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

 


14.4. Forecast

Forecast by Period

Forecast by Period and Category

Forecast by Period (Summary)

 


14.5. Period

Period Report (Detail)

Period Report (Summary)

Period Valuation by Sub Category and Category

Period Valuation by Asset


14.6. 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.


14.7. Year End

NB: final Fixed Assets Periods should be run before running these reports.

If users wish to see YTD depreciation values prior to running final year end report, they could run reports such as Lists of Assets and List of Assets by Category, both of which have YTD depreciation figures included.

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


15. 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.


15.1. 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.


15.2. 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.

You can also choose to have nominal depreciation accounts per location

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.

If using Fixed Asset as Part of Sicon Hire Module, it may be your Hire assets are held at different Warehouse/Locations, and hire out from different depots, this functionality would work out well if depreciation nominals, cost centres and departments  are different per hire depot.

Sicon Fixed Assets Help and User Guide - Locations


15.3. 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


15.4. 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.


15.5. Define Tabs

Custom Tabs were part of the module prior to analysis codes being added and were / are a way of adding additional information, in either a text, date, or yes / no scenario.

For example, if you need to record a date that an asset was last electrical tested (Pat Tested), or what is the asset tag number placed on the asset.

Depending on how they have been defined when the relevant Tab on an asset is selected the user can enter the relevant details.

Sicon Fixed Assets Help and User Guide - Custom Tabs - Define Tabs

To then specify what will appear on each tab you will need to ‘Define the Custom Fields – See below for more details.


15.6. 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.

Sicon Fixed Assets Help and User Guide - Define Custom 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.


15.7. 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)


15.8. 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


16. Utilities

The Utilities section of the Sicon 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.


16.1. 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


16.2. 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


16.3. 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


16.4. Settings

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

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


17. 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.


18. 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


19. Release Notes

The Release Notes document below shows which release of the Sicon Fixed Assets system includes which new features and for which version of Sage these will work. The version number indicated in the Sicon 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.

Sicon Fixed Assets Release Notes

20. Sicon V18 New Features & Important Information

New Features

  • Changes to issue stock to assets – allow user to enter the serial numbers.
  • Progress now appears when opening fixed asset period.
  • Default capitalisation date and purchase date of subsequently entered new assets to today’s date.
  • Change to web API connection methods to check the enable screen.
  • Added service details under fixed asset details on the equipment screen.
  • Added internal area drop down on the issue stock to assets screen.
  • Added an internal customer account for hire assets, set on equipment, so we know where the equipment is.
  • Before depreciation, there is a check in place to make sure the nominal has been set on an asset. This prevents fails when posting depreciation.
  • Changes to make it easier to script the amend asset screen (hire manager scripting fixed assets amend screen.)
  • Added a “Fully Depreciated” type for a fixed asset.
  • When adding a Purchase Invoice Entry, the user can now add more than one fixed asset per invoice.
  • “On Hold Until” column added to the fixed assets list.
  • “User Name” column in the transaction history tab.
  • 150 Analysis codes have been added. These can be set to mandatory and field types defined.
  • Now shows second reference for purchase invoices on maintenance tab on amend asset.
  • If nominal for location exists, the asset is now updated with this when the location is selected.
  • Can now import quantity.
  • Can now import vehicle category and planned preventative maintenance.
  • Improvements to reliability when posting single journal for depreciation.
  • Includes stock issue to fixed asset duplicate asset number validation for Hire Manager v17.24.28.
  • Added drill down for purchase invoices on setup tab on amend asset screen.
  • Sicon DMS Add and View Document functionality has been added to New, Amend &View Fixed Asset Screens

Important Information

  • N/A
Sicon Fixed Assets v18 New Features & Important Information

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