Asset Management Overview

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

Equipment Info Center

The Equipment Info Center 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 Info Center 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 own the Purchasing application and have it activated to be able to enter 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 Info Center.

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.

Multicompany

If you have multiple companies in Vision, you set up Asset Management configuration for each individual company. When you process depreciation, transfers, splits, and disposals, you process asset items for only the active (current) company that you selected when you logged into Vision. However, in the Search field in the Equipment Info Center, you can select to view or enter information for asset items from any company.

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.

Asset Management Reports

You can print or view an Asset Detail or Asset Summary report from the following locations:
  • Info Center > Equipment
  • Reporting > Equipment

Configuration for Asset Management

Purchasing Items

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

You set up purchasing items in Item Master Configuration in Configuration > Purchasing & Inventory > Item Master. 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 Configuration > Purchasing & Inventory > System Settings. You specify item categories for a company on the Item Categories tab in Configuration > Purchasing & Inventory > Company.

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

Asset Management Configuration

Before you can process depreciation or amortization in the Asset Management application, you must enter configuration settings for Asset Management in Configuration > 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 you use for your general ledger book. You also specify whether you want the ability 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 the Accounts Info Center are asset accounts that are unique for an asset type, accumulated depreciation, and depreciation expense.

For a more complete list of Asset Management configuration, see the topic titled "Checklist: Configuring Asset Management."

Asset Management 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 Vision.

Asset Item Export

Use the Asset Item Export report in Reporting > Data Export to download asset item data from Vision 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 Info Center using the Advanced Data Import utility. Contact Deltek Customer Care for more information.

Related Topics:

  • Basics
    If you are new to the Asset Management application, review how it relates to other applications and an overview of how you enter and depreciate asset items.
  • Depreciation Processing Overview
    Use Depreciation Processing in the Asset Management application to process depreciation and amortization for asset items in the Equipment Info Center.
  • Transfer/Split Processing Overview
    Use Transfer/Split Processing in the Asset Management application to transfer an existing asset item from one project to another or split an asset item and distribute its amounts to other existing asset items.
  • Disposal Processing Overview
    Use Disposal Processing in the Asset Management application to remove an asset item from your general ledger books when you sell or scrap it.
  • Asset Review Overview
    Use Asset Review to view summary information for an asset item.
  • Section 179 Review Overview
    In Section 179 Review, you can view all of the asset items that have had a section 179 deduction applied to them for a specific tax year and additional book.
Parent Topic: Welcome to the Deltek Vision Help System