Deltek Vantagepoint Help

Using the Help Search
Using the Help Search
  • Phrase:Returns all topics that contain the exact phrase in the search criteria. Use quotation marks around the phrase.
    Ex."system administration"
  • And:Returns all topics that contain all the words in the search criteria, in any combination. Insert a plus sign between all words in the search criteria.
    Ex.system + administration
  • Or:Returns all topics with any combination of words in the search criteria. This is the default.
    Ex.system administration
For more information:Searching Online Help

General Tab of the Asset Management Settings Form

Use the General tab to configure the capitalization minimum, asset period, asset item source, and fixed asset gains (losses) for Asset Management.

Contents

If you have multiple companies, Asset Management entries are only applied to the active company. You must configure Asset Management for each company.

If you use multiple currencies, the account's currency must match the functional currency assigned to the asset through the active company.

Field Description
Capitalization Minimum Enter the dollar value that represents the maximum amount of the asset that will not be capitalized.

If necessary, your firm can create a workflow that triggers an alert based on the amount entered for the capitalization minimum. For example, if the asset's amount is less than the minimum amount that you establish, the appropriate team members receive an alert.

Asset Periods Per Year Select the number of asset periods per year to synchronize the asset calendar with the fiscal calendar. This setting applies only if your instance of Vantagepoint is set up for 13 periods and allows you to select either 12 or 13 asset periods per year.
  • If you select 12, this assumes that the 13th period is for "End of Year Adjustments."
  • If you select 13, this assumes that you process 13, four-week periods and need to run depreciation in the 13th period.
Asset Item Source Asset Management works in conjunction with the Equipment hub. The Equipment hub stores the capital items that the Asset Management application tracks, depreciates, and reports on. Capital items are generated in the Equipment hub in one of the following ways:
  • Automatically, from a purchase order or AP voucher.
  • Manually, from an equipment record that you enter in the Equipment hub.
Use the Asset Item Source options to specify how capital items are entered:
  • Select Purchase Order to automatically create an asset item or equipment item in the Equipment hub from a change order, release order, or when you final print a purchase order. The line items that are entered for a purchase order must be created from purchasing items with Capital Items as the item category type and with a line item that has one project specified for distributing purchase order costs. This option displays only if you use the Purchasing application
  • Select AP Voucher to enable the Create Asset check box on the AP Voucher Entry form in the Transaction Center. This option is enabled when the Allow asset entries for AP Vouchers and Journal Entries option is selected for the security role on the Accounting tab in Settings > Security > Roles. When you select the Create Asset check box, Vantagepoint automatically generates an asset item in the Equipment hub for the AP voucher line item when you post the AP voucher in the Transaction Center. This allows you to process depreciation for asset items.
If you do not select one of these options, you must manually enter a new asset item as a capital equipment item in the Equipment hub.
Fixed Asset Disposal Gain/(Loss) Setup Section When you dispose of an asset that is not fully depreciated, it is removed from the asset register and then recognized as either a gain or a loss. If there is value remaining at the time of disposal, it may be offset by the gain that occurred by selling the asset. If the asset is fully depreciated and is disposed of, there is no gain or loss.

For example, if a printer's useful life ends after three years and the printer is fully depreciated, it could be sold for $150. This would result in a gain on the sale of the asset. Or, if the printer's useful life is defined as three years but the printer is thrown away after two years, the remaining depreciation value would be removed, resulting in a loss.

In this section, select the general ledger account, project, phase, and/or task used to record the gain or loss.

The Project field is required if you use Organization Reporting and maintain separate balance sheets by organization.

Default Overhead Project Section The Default Overhead Project field displays in either of these scenarios:
  • You do not use organizations in Vantagepoint.
  • You use organizations but you do not maintain separate balance sheets by organization.

Use these fields to define the overhead project, phase, and task to prefill for an asset item that is created automatically from an accounts payable voucher line item. The overhead project, phase, and task that you enter in these fields prefill in the Project, Phase, and Task fields in the line item grid on the AP Vouchers form in Transaction Entry when you have also entered the information on the AP Vouchers form that is required to automatically create an asset item from the AP voucher line item. You see the overhead project, phase, and task for the asset item on the General tab of the Equipment hub.