Information about lease amortization and postings to the General Ledger displays in this subtask (if depreciation is based on lease periods) once amortization for a record has begun. For existing property records, you will need to add historical amortization data in this subtask.
For established Asset Master records only:
You can enter, edit, and view the data from this screen in a table window format by accessing the Maintain Asset G/L Book Info screen (directly from the Asset Master Records menu). An alternate access route to Asset Master subtask data gives you more flexibility in setting up screen security options for users with different access needs.
If screen rights are set up so the user can access the Maintain Asset Master Info screen from the Asset Master Records menu option, this screen and ALL its subtasks are automatically accessible to the user.
If screen rights are NOT set up for the user to access the Maintain Asset Master Info screen, the system administrator can alternately grant or deny access rights using the direct menu option on a screen-by-screen basis, which correlates directly with the data contained in each subtask. In this manner, each user can access only the data from permissible subtasks in an Asset Master record.
Although the data displays in columnar form in the table window screen, data entry functionality and data rules for each column are identical to their corresponding fields in the Maintain Asset Master Info screen, regardless of which entry screen methodology you establish for each user.
When you select the G/L Book pushbutton in the main screen, there are three different versions of this subtask screen that can display.
If you have indicated in the Maintain Asset Master Info screen that the record is depreciable (by selecting the Depreciable radio button in the Depr Status group box) and that depreciation is based on Lease Pds (in the Depr Based On group box), this subtask, G/L Book Info (Leases), displays.
If you have indicated in the Maintain Asset Master Info screen that the record is depreciable (by selecting the Depreciable radio button in the Depr Status group box) and that depreciation is based on Years (in the Depr Based On group box), the G/L Book Info (Years) subtask displays.
If you have indicated in the Maintain Asset Master Info screen that the record is depreciable (by selecting the Depreciable radio button in the Depr Status group box) and that depreciation is based on Units of Usage (in the Depr Based On group box), the G/L Book Info (Units) subtask displays.
Although you can use up to 10 books in Costpoint Fixed Assets, Book 1 always carries the name "G/L Book," and is automatically designated by the system as the Accounting Book. The G/L Book is the ONLY book that interfaces with the General Ledger by means of depreciation and disposal posting entries. This screen is the G/L Book screen for those assets that use amortization based on lease periods. (Optional books 2-10 only allow for amortization based on "years" methods.)
There are both system-required and optional fields in this screen.
You should also enter data in this screen before you calculate amortization. Although you can change information in this screen at any time, use caution in the timing of your edits, which can affect the calculation of amortization as well as the types of records included in system reports.
In this group box, you can view the asset number, item number, and short description of the record that was selected in the main screen.
This non-editable field displays the asset number from the main screen.
This non-editable field displays the item number from the main screen.
This non-editable field displays the short description, if entered, from the main screen. To edit the short description or to add a short description, you must do so in the Maintain Asset Master Info screen.
In this group box, you can activate automatic system amortization calculations for this record, and enter, edit, or view lease data for this record.
Select this checkbox to indicate that this record is a capitalized lease. This field is optional, and the system default is unchecked. This checkbox is for data purposes only and is not used in system calculations.
You may find that this field is already populated with default data from a template. The source of this data is determined by the template/revision number that displays in the Template No/Rev No fields in the main screen. Data may have been copied from a default template designated in the Default Template for Asset Master group box in the Fixed Assets Settings screen,
For an existing asset record, this field may display the latest selection you made when you originally added or edited the asset record or the selection from the latest Asset Template specified in the Template No/Rev No fields, if a template is used. It may not always be easy to identify the source of the Asset Master data because template functionality in this screen and in the Edit Autocreation Transactions screen allows you to overwrite ALL existing data with template data or to populate only BLANK fields with template data.
Because Asset Master data may have originated from Costpoint Purchasing, Receiving, and/or Accounts Payable using the autocreation function, it is very important to use the template functionality knowledgeably and with caution. Although you should take care to preserve the integrity of the data with respect to its source, you can always edit data in the Asset Master record fields, as needed, regardless of the mode of data entry (manually, using autocreation, and/or via the template mechanism).
Select this checkbox to automatically include this record in system calculations of amortization. If you select this checkbox, the system will automatically compute amortization each month for eligible records and will display the results in the Current Pd Amortization field in this screen. Note that you can overwrite the automatic system calculation of amortization, as desired. If you select this checkbox and the asset's book value does not equal zero, you must also enter data in the Monthly Payment and Lease Payments Remaining fields before you can save the record. The system default for this checkbox is checked.
Do not select this checkbox if you want to disable the automatic system calculation of amortization. In this circumstance, you need to manually enter the amount of amortization in the Current Pd Amortization field.
In general, if you need to make a one-time adjustment to current period amortization expense, you should manually override the system calculation in the Current Pd Amortization field rather than change the default for this checkbox. If, however, you want to post an amortization entry to the General Ledger as a recurring override to system calculations, you should uncheck this checkbox and enter the override amount in the Current Pd Amortization field.
You may find that this field is already populated with default data from a template. The source of this data is determined by the template/revision number that displays in the Template No/Rev No fields in the main screen. Data may have been copied from a default template designated in the Default Template for Asset Master group box in the Fixed Assets Settings screen.
For an existing asset record, this field may display the latest selection you made when you originally added or edited the asset record or the selection from the latest Asset Template specified in the Template No/Rev No fields, if a template is used. It may not always be easy to identify the source of the Asset Master data because template functionality in this screen and in the Edit Autocreation Transactions screen allows you to overwrite ALL existing data with template data or to populate only BLANK fields with template data.
Because Asset Master data may have originated from Costpoint Purchasing, Receiving, and/or Accounts Payable using the autocreation function, it is very important to use the template functionality knowledgeably and with caution. Although you should take care to preserve the integrity of the data with respect to its source, you can always edit data in the Asset Master record fields, as needed, regardless of the mode of data entry (manually, using autocreation, and/or via the template mechanism).
For a new asset record, enter the lease start date for this record in date format in this optional field.
The value in this field is for data purposes only and is not used in system calculations. (When the system calculates amortization, the system checks only the date from the Amortization Start Date field.) The date in this field can be an historical, current, or future date.
You may find that this field is already populated with default data from a template. The source of this data is determined by the template/revision number that displays in the Template No/Rev No fields in the main screen. Data may have been copied from a default template designated in the Default Template for Asset Master group box in the Fixed Assets Settings screen.
For an existing asset record, this field may display the latest selection you made when you originally added or edited the asset record or the selection from the latest Asset Template specified in the Template No/Rev No fields, if a template is used. It may not always be easy to identify the source of the Asset Master data because template functionality in this screen and in the Edit Autocreation Transactions screen allows you to overwrite ALL existing data with template data or to populate only BLANK fields with template data.
Because Asset Master data may have originated from Costpoint Purchasing, Receiving, and/or Accounts Payable using the autocreation function, it is very important to use the template functionality knowledgeably and with caution. Although you should take care to preserve the integrity of the data with respect to its source, you can always edit data in the Asset Master record fields, as needed, regardless of the mode of data entry (manually, using autocreation, and/or via the template mechanism).
For a new asset record, enter the lease end date for this record in date format in this optional field.
The value in this field is for data purposes only and is not used in system calculations. (When the system calculates amortization, the system checks only the date from the Amortization Start Date field.) The date in this field can be an historical, current, or future date.
You may find that this field is already populated with default data from a template. The source of this data is determined by the template/revision number that displays in the Template No/Rev No fields in the main screen. Data may have been copied from a default template designated in the Default Template for Asset Master group box in the Fixed Assets Settings screen.
For an existing asset record, this field may display the latest selection you made when you originally added or edited the asset record or the selection from the latest Asset Template specified in the Template No/Rev No fields, if a template is used. It may not always be easy to identify the source of the Asset Master data because template functionality in this screen and in the Edit Autocreation Transactions screen allows you to overwrite ALL existing data with template data or to populate only BLANK fields with template data.
Because Asset Master data may have originated from Costpoint Purchasing, Receiving, and/or Accounts Payable using the autocreation function, it is very important to use the template functionality knowledgeably and with caution. Although you should take care to preserve the integrity of the data with respect to its source, you can always edit data in the Asset Master record fields, as needed, regardless of the mode of data entry (manually, using autocreation, and/or via the template mechanism).
For a new asset record, this field is blank. There is no corresponding Asset Template field. Enter the total value of the lease in this optional field.
The value in this field is for data purposes only and is not used in system calculations. (The system uses the value from the Amount to Amortize field for amortization calculations, which automatically displays from Total Cost field in the Cost Info subtask.)
For an existing asset record, you can edit the value that displays in this field, as desired.
For a new asset record, this field is blank. There is no corresponding Asset Template field. Enter the total number of lease payments in this optional field.
The value in this field is for data purposes only and is not used in system calculations. (The system uses the value from the Lease Payments Remaining field to determine how many more accounting periods for which this property should be amortized.)
For an existing asset record, you can edit the value that displays in this field, as desired.
For a new asset record, this field is blank. There is no corresponding Asset Template field. Enter the amount of the monthly lease payment in this optional field. If you have selected the Auto Calculate checkbox and the asset's book value in this screen does not equal zero, you must enter data in both the Monthly Payment and Lease Payments Remaining fields, or you will not be able to save the record. Although this field is not system-required (except in the instance above), note that amortization calculations will not take place for this record if this field is blank.
For an existing asset record, you can edit the value that displays in this field, as desired. Because the system copies the data from this field to the Current Pd Amortization field value after amortization is computed, however, you should use caution if you change the monthly payment for a record once it has begun amortizing in the system.
There will, of course, be instances in which the lease payment changes. When this happens, you should record the revised lease payment in this field for the first month in which it is effective, before amortization calculations take place.
In this group box, you can indicate the number of future lease periods remaining at the time this record is initiated.
The system uses the value from this field to determine how many more accounting periods for this property should be amortized. Although this field is not system-required, note that amortization calculations will not take place if this field is blank. (If you selected the Auto Calculate checkbox, this field is required.)
For a new asset record, this field is blank. There is no corresponding Asset Template field. Enter the total number of lease payments remaining in this optional field.
Once this field is initialized, the system automatically decreases the value in this field by one during each Fixed Assets accounting period close process. If you have selected the Auto Calculate checkbox, you must enter data in both the Monthly Payment and Lease Payments Remaining fields, or you will not be able to save the record.
For an existing asset record, you can edit data that displays in this field, if needed. Because the system uses this data to determine whether depreciation calculations should take place and the manner in which they should take place for each record, however, use caution if you change this field for a record once it has begun amortizing in the system.
In this group box, enter an amortization start date for this record.
For a new asset record, this field is blank. There is no corresponding Asset Template field. Enter the amortization start date for this record in date format in this field. Although this field is not system-required, note that amortization calculations will not take place if this field is blank, or if this date is later than the end of the current Fixed Assets accounting period (indicated in the Posting Settings screen).
If you anticipate an amortization start date delay, you can enter a future date in this field, if desired. In this circumstance, amortization calculations will not begin until the future date coincides with your current Fixed Assets accounting period. The date in this field must be on or before the end of the current accounting period for amortization calculations to take place. (The "current" period is specified in the Posting Settings screen.)
When entering historical data during initialization, you should enter the date at which amortization originally began for this record. There are no system restrictions on entering a historical date in this field. During initialization, you may want to develop some internal rules on the use of this field to ensure consistency of data.
For an existing asset record, you can edit data that displays in this field, as desired. Because system calculations use this date to determine if amortization computations should take place for each record, use caution if you change the amortization start date for property records once they have begun amortizing in the system.
In this group box, you can enter, edit, and view the results of amortization calculations and G/L postings.
This non-editable field displays the amount from the Total Cost field of the Cost Info subtask.
If you selected the Auto Calculate checkbox, the system will not automatically amortize an amount that is greater than the amount that displays in this field.
For a new asset record, this field is blank. There is no corresponding Asset Template field. You should leave this field blank for a new record, because the system will automatically increment (or possibly decrement) the value in this field by the amount of amortization posted when the current Fixed Assets accounting period is closed. The value in this field will be increased (or decreased) by the amount posted from the Current Pd Amortization field. The value in this field is equal to the amortization expense for the current fiscal year, exclusive of the value in the Current Pd Amortization field.
For both new and historical records, the system will automatically change the value in this field by the amount of amortization posted when the current Fixed Assets accounting period is closed. Data from this field is added to the data from the Prior FY Amortization and Current Pd Amortization fields to derive the Accum Amortization calculated total.
This field will be updated automatically when you perform the Fixed Assets close process on the last period in your fiscal year. The value in the FYTD Amortization field will be added to the value in the Prior FY Amortization field, and the FYTD Amortization field will be set back to zero.
For an existing master record, you can edit data that displays in this field, if needed. Because system calculations use this data to determine whether amortization computations should take place (and how they take place) for each record, use caution if you change this field for a record once it has begun amortizing in the system.
For a new asset record, this field is blank. There is no corresponding Asset Template field. You should leave this field blank for a new record. This field will be updated when you perform the Costpoint Fixed Assets period close process on the last period in your fiscal year, during which the value in the FYTD Amortization field will be added to the value in the Prior FY Amortization field, and the FYTD Amortization field will be set back to zero.
For both new and historical records, data from this field is added by the system to the data from the FYTD Amortization and Current Pd Amortization fields to derive the Accum Amortization field calculated total.
For an existing asset record, you can edit data that displays in this field, if needed. Because system calculations use this data to determine whether amortization computations should take place (and how they take place) for each record, use caution if you change this field for a record once it has begun amortizing in the system.
For a new asset record, this field is blank. There is no corresponding Asset Template field. You should leave this field blank for a new record, unless you want to overwrite the system calculation of amortization for the period.
For an existing asset record, you can edit the value that displays in this field after the amortization calculation has been run, as desired. Use caution if you change the amount displayed in this field.
There will, of course, be instances in which the lease payment changes. When this happens, the revised lease payment should be recorded in the Monthly Payment field for the first month in which it is effective, before amortization calculations take place.
For both new and historical records, data from this field is added by the system to the data from the FYTD Amortization and Prior FY Amortization fields to derive the Accum Amortization field calculated total. When you close the current accounting period, the value in this field will automatically be set back to zero, if you have selected the Auto Calculate checkbox.
You can perform amortization calculations multiple times within the same accounting period. If you have made no manual corrections to critical fields (such as total cost, monthly payment, lease periods remaining, and so on), there is no danger that the system will post the same amortization expense for the same asset in the same accounting period after amortization is re-calculated.
The system tracks monthly postings for each record and compares the value in the Current Pd Amortization field with the value in the Amount Posted Curr Pd field. If the values in these fields are equal, there can be no additional postings to the G/L for the period. Only changes to the Current Pd Amortization field can generate additional positive or negative amortization expense entries.
As long as the value in the Current Pd Amortization field is different from the value in the Amount Posted Curr Pd field, the system will, within the same accounting period, always post the value needed to bring the Amount Posted Curr Pd field up to or down to the value in the Current Pd Amortization field. For example, if you have calculated depreciation and the Current Pd Amortization field displays $50.00, the amount in the Amount Posted Curr Pd will also display $50.00 after posting to the General Ledger. If you now change the amount in the Current Pd Amortization field to $75.00 and post again within the same accounting period, the system will recognize that an additional $25.00 is needed to bring these fields to an equal condition, and will post $25.00 more. After this second posting, the amounts in the Current Pd Amortization field and the Amount Posted Curr Pd will be equal. When the accounting period is closed, the amount displayed in the Amount Posted Curr Pd field will be added to the amount in the FYTD Amortization field and the Amount Posted Curr Pd field will be set back to zero.
The value in this field will be posted to the amortization expense account(s) that you designated for this record in the Depr Exp Acct Alloc Code field in the Maintain Asset Account Info screen (or in the Code field in the Depreciation Expense Account group box of the Account Info for G/L Book subtask).
The system automatically totals the values from the FYTD Amortization, Prior FY Amortization, and Current Pd Amortization fields and displays the results in this non-editable field.
The system automatically subtracts the value in the Accum Amortization field from the value in the Amount to Amortize field and displays the result in this non-editable field.
In this group box, you can view the cumulative total of all postings to the General Ledger for the current Fixed Assets accounting period.
This field is not available for user entry. For all records, both new and historical, this field is blank at the beginning of each Fixed Assets accounting period. This field will automatically be populated by the system when you post amortization for the first time in the accounting period. Subsequent postings of amortization expense for this record will automatically increase or decrease the value in this field because it displays the cumulative results of all postings for the accounting period. When you close the current accounting period, the value in this field will automatically be set back to zero. This field is not available for user entry.
You can perform amortization calculations multiple times within the same accounting period. If you have made no manual corrections to critical fields (such as total cost, monthly payment, lease periods remaining, and so on), there is no danger that the system will post the same amortization expense for the same asset in the same accounting period after amortization is re-calculated.
The system tracks monthly postings for each record and compares the value in the Current Pd Amortization field with the value in the Amount Posted Curr Pd field. If the values in these fields are equal, there can be no additional postings to the G/L for the period. Only changes to the Current Pd Amortization field can generate additional positive or negative amortization expense entries.
As long as the value in the Current Pd Amortization field is different from the value in the Amount Posted Curr Pd field, the system will, within the same accounting period, always post the value needed to bring the Amount Posted Curr Pd field up to or down to the value in the Current Pd Amortization field. For example, if you have calculated depreciation and the Current Pd Amortization field displays $50.00, the amount in the Amount Posted Curr Pd will also displays $50.00 after posting to the General Ledger.
If you now change the amount in the Current Pd Amortization field to $75.00 and post again within the same accounting period, the system will recognize that an additional $25.00 is needed to bring these fields to an equal condition, and will post $25.00 more. After this second posting, the amounts in the Current Pd Amortization field and the Amount Posted Curr Pd will be equal. When the accounting period is closed, the amount displayed in the Amount Posted Curr Pd field will be added to the amount in the FYTD Amortization field and the Amount Posted Curr Pd field will be set back to zero.
The system stores the Asset Master data displayed in the G/L Book Info (Leases) subtask of the Maintain Asset Master Info screen (and in the Maintain Asset G/L Book Info screen) in the ASSET (Asset) table.