Deltek Vantagepoint Help

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Asset Management

Asset Management is an optional application that you use in conjunction with the Equipment hub to track and process depreciation or amortization for asset items that you capitalize.

Equipment Hub

The Equipment hub stores asset item records and the information used to calculate depreciation or amortization for each asset item. You can also assign an employee to an asset item and track an asset's assigned employee and location. You can associate units with an asset item to track the unit-generated billing values for the asset item.

The Equipment hub stores two types of items:

  • Asset items: These are items that you purchased for overhead projects that are capitalized and depreciated over time. You can also enter an asset item for capital leases and prepaid items, such as general liability insurance, that are amortized over time.
  • Equipment items: These are items that you purchased for regular projects that you do not depreciate. You must use the Purchasing application to track equipment items.

Transaction Center and Purchasing Applications

You can create asset items:

  • Automatically from accounts payable vouchers that you enter in Transaction Entry in the Transaction Center.
  • Automatically from purchase orders, change orders, or release orders that you enter in the Purchasing application.
  • Directly in the Equipment hub.

Asset Management Application

In the Asset Management application, you:

  • Process depreciation and amortization for asset items.
  • Transfer and split asset items.
  • Dispose of asset items.
  • Review history, summary, and section 179 information for asset items.

Multiple Companies

If you use multiple companies, you configure Asset Management for each individual company. When you process depreciation, transfers, splits, and disposals, you process asset items for only the active company that you selected when you logged in. However, in the Search field in the Equipment hub, you can choose to view or enter information for asset items from any company.

Multiple Currencies

If you use multiple currencies, all of the currency values that are displayed in the Equipment hub and Asset Management are in the functional currency of the active company.

Reports for Asset Management

You can print or view an Asset Detail or Asset Summary report from the following locations:
  • Hubs > Equipment in the desktop application
  • Reporting > Equipment in the desktop application

Settings for Asset Management

Purchasing Items

Before you can create asset items in the Equipment hub, you must set up the purchasing items upon which asset items are based in Purchasing & Inventory Settings. Asset items are created from purchasing items whose category type is Capital Items.

  • Before you set up purchasing items, you must set up system-wide item categories and specify a type for them on the Item Categories tab in Settings > Purchasing & Inventory > System.
  • Specify item categories for a company on the Item Categories tab in Settings > Purchasing & Inventory > Company.
  • Set up purchasing items in Settings > Purchasing & Inventory > Items Master.

If you do not have the Purchasing application, but you have the Asset Management application, you still set up a master list of purchasing items in Items Master Settings.

Asset Management

Before you can process depreciation or amortization in the Asset Management application, you must enter settings for Asset Management in Settings > Asset Management. This includes setting up depreciation methods, asset types, property types, improvement codes, Section 179 information, and additional books if you want to process depreciation or amortization using a calculation other than the calculation that you use for your general ledger book. Also specify whether you want to be able to have asset items created automatically from accounts payable vouchers and purchase orders.

General Ledger Accounts

General ledger accounts that you set up for depreciation processing in Settings > General Ledger > Chart of Accounts are asset accounts that are unique for an asset type, accumulated depreciation, and depreciation expense.

History Loading

Use Asset Management History Loading in Utilities > History Loading to enter accumulated depreciation that was posted for an asset item before you started processing depreciation for the asset item in Vantagepoint.

Asset Item Export

Use the Asset Item Export report in Reporting to download asset item data from Vantagepoint to a Microsoft Excel spreadsheet file or other file format.

Advanced Data Import for Asset Items

You can import asset items (and equipment items) into the Equipment hub using the Advanced Data Import utility. Contact Deltek Customer Care for more information.