Equipment Info Center Overview
Use the Equipment Info Center to track asset items (capital items) for overhead projects and equipment items for regular projects.
The Equipment Info Center is available only if you have the Purchasing application or the Asset Management application activated in Vision.
Asset Items
Equipment items for overhead projects are referred to as asset items. Asset items are capitalized and depreciated over time. In the Equipment Info Center, you maintain the information for calculating depreciation and assign employees to asset items. You use the Asset Management application to process depreciation, transfer or split asset items, dispose of the asset items, and review asset item history and summary information. You can also have prepaid items in the Equipment Info Center, such as general liability insurance, for which you can amortize the cost over time using the Asset Management application.
Equipment Items
Equipment items for regular projects are referred to as equipment items. These cannot be depreciated in the Asset Management application. Equipment items can be items that are billable to a client, which you do not depreciate.
Creating Asset Items and Equipment Items
Vision can automatically create asset items and equipment items from the line items that you enter for:
- AP vouchers (only asset items, not equipment items)
- Purchase orders
- Change orders
- Release orders for blanket purchase orders
You can also create asset items and equipment items directly in the Equipment Info Center.
Purchasing Items Used to Create Asset Items and Equipment Items
- Equipment items that you create from a purchasing item with a category type of Capital Items are "asset items" that can be depreciated in the Asset Management application.
- Equipment items that you create from a purchasing item with a category type of Equipment are "equipment items" that cannot be depreciated.
Viewing Asset Items and Equipment Items
On the Equipment tab in Accounting > Project Review, you can view all the asset items and equipment items that are assigned to a project.
You can view summary and history information about a given asset in Asset Management > Asset Review.
Asset Item and Equipment Item Reporting
You can access the following asset item and equipment item reports in Reporting > Equipment and in Info Center > Equipment:
- Asset Detail
- Asset Summary
- Equipment List
You can also produce reports or a Microsoft Excel spreadsheets that contain asset item and equipment item data from the List View in the Equipment Info Center. When you click List View on the toolbar of the Equipment Info Center form and change the view to a list (grid), you can click the Equipment down-arrow in the grid toolbar to access the options to print or export the grid contents to Excel.
Multicurrency
If you use multiple currencies in Vision, all the currency values that are displayed in the Equipment Info Center and the Asset Management application are in the functional currency of the active (current) company that you have open on the screen.
Related Topics
- Equipment Info Center and Asset Management and/or Purchasing
The Equipment Info Center comes with either the Asset Management module or the Purchasing module. - Entering and Depreciating Asset Items in Vision
You can enter and depreciate or amortize asset items in Vision. - Asset Management Terminology
Certain terminology is important to know in regard to asset items in Vision. - Purchasing Items Used to Create Asset Items and Equipment Items
Asset items and equipment items that are stored in the Equipment Info Center are created from purchasing items whose category type is either Capital Items or Equipment. - Creating Asset and Equipment Items from Purchase, Change, and Release Orders
Vision can automatically generate asset items and equipment items in the Equipment Info Center from the line items that you enter in the Purchase Orders application. - Creating Asset Items from AP Vouchers
You can have Vision automatically generate asset items in the Equipment Info Center from the AP voucher line items that you enter in AP Voucher Transaction Entry. - Associating an AP Voucher Line Item with an Existing Asset Item
In Transaction Entry for AP vouchers, you can associate AP voucher line items with existing asset items in the Equipment Info Center. - Creating Asset Items and Equipment Items Directly in the Equipment Info Center
You can add asset items and equipment items directly in the Equipment Info Center. - GL Book and Additional Books for Asset Depreciation
In addition to processing depreciation or amortization for your general ledger for your financial statements ("GL book" depreciation), you can have Vision calculate depreciation or amortization differently by using "additional books." - Identifying Asset Items with an Active or Inactive Status
You can produce a list of only active or inactive asset items. - Associating Units with Asset Items
In the Equipment Info Center, you can associate a unit with an asset item, which allows you to track the unit-generated billing value for the asset item. - Assigning Employees to an Asset Item
You can assign employees to asset items on the Assignments tab in the Equipment Info Center. - Recovering an Asset Item from an Employee
When employees return asset items that they no longer use, you can unassign the employee and enter a recovery date to track the return of the asset item. - Section 179 Deductions for Asset Items
The United States government allows US companies to use a section 179 deduction to accelerate the depreciation for assets. - Asset Impairments
A fixed asset becomes impaired when its fair market value suddenly drops below the value of its carrying value (acquisition cost less accumulated depreciation), and the loss is not recoverable. - Asset Management and Multicompany
When you use Vision Multicompany with the Asset Management application, there are specific settings that apply to Asset Management set up and processing. - Asset Management and Multicurrency
If you use multiple currencies in Vision, all the currency values that are displayed in the Asset Management and Equipment Info Center are in the functional currency of the active (current) company that you selected when you logged into Vision. - Entering Purchasing Items on the Fly in the Equipment Info Center
When you enter a new asset or equipment item directly in the Equipment Info Center, if needed, you can enter a new purchasing item upon which to base the asset or equipment item. - Procedures
While the details for working with records vary across Info Centers, the basic procedures are similar. - Screens
Use Info Center screens and dialog boxes to create and work with records.