Use this tab to view financial information and deprecation-related amounts from the GL book and additional books for an asset item.
The information on this tab is for the active (current) period that you have open on the screen.
When you use the Undo Posting utility to undo the postings for depreciation or disposal processing for an asset item, amounts from the postings are removed from this tab.
Contents
Summary Grid
The rows in the grid prefill with the following:
- Information that is used to calculate depreciation for the asset item from the GL Book and Additional Books tabs in the Equipment Info Center.
- Results of depreciation and disposal processing in the Asset Management application.
The columns in the grid contain the information for your GL (general ledger) book and any additional books that you set up for an asset item to calculate depreciation differently than your general ledger book.
Summary Grid Toolbar
| Field | Description |
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| Summary Drop-Down
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Click the drop-down arrow on a grid header to complete any of the following actions:
- To print grid data, click
Print. On the Print Preview form, click
to send the grid data to your default printer.
- To export grid data to an Excel spreadsheet, click
Export to Excel. When Microsoft Excel opens, use its features to modify, print, or email the grid data, or to save the spreadsheet file locally.
- To turn on grouping for a grid, click
Enable Grouping. When a field displays with the instruction: "Drag a column header here to group by that column," drag and drop column headers into the field, in the sequence that you want them to display.
Not all options are available on all grids.
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Summary Grid Fields
| Field | Description |
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| Book
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This column identifies the information that displays in each row in the grid for the remaining columns in the grid. Each row in the grid prefills with one of the following in this column:
- Acquisition Cost — This is the acquisition cost for the asset item from the GL Cost tab or the Additional Books tab in the Equipment Info Center.
- Business Use % — This is the business use percentage for the asset item from the GL Cost tab or the Additional Books tab in the Equipment Info Center. This is the percentage of the asset item's acquisition costs that is allocated for business use for depreciation purposes.
- Net Acquisition Cost — This amount is the Acquisition Cost multiplied by the Business Use %.
- Additional Cost — This is the additional cost entered for an asset item on the Additional Books tab in the Equipment Info Center. For example, additional costs could be for adjustments to the tax basis for future tax initiatives. This does not apply for your GL book.
- Salvage Value — This is the salvage value for the asset item from the GL Cost tab or the Additional Books tab in the Equipment Info Center. This is the estimated monetary amount that you expect to receive when you sell the asset item at the end of its useful life.
- Additional First Year Depreciation — This is the additional amount of depreciation that you plan to take during the first year of depreciation for an asset item. It is entered on the Additional Books tab in the Equipment Info Center. This does not apply for your GL book.
- Net Section 179/179A — This amount applies for additional books and not your GL book. For clients operating in the United States, this is the net section 179/179A amount applied. This amount is from the Additional Books tab in the Equipment Info Center.
- Depreciation Basis — This is the depreciation basis for the asset item from the GL Cost tab or the Additional Books tab in the Equipment Info Center. The depreciation basis determines how much of the asset item's cost you will write off each year.
- For the GL book, the calculation is: (Total Acquisition Cost x Business Use Percentage) – Salvage Value.
- For additional books, the calculation is: (Total Acquisition Cost x Business Use Percentage) + Additional Cost – Salvage Value – First Year Depreciation – Section 179 Deductions
- Period Depreciation — This is the depreciation that is calculated for the asset item for the active (current) accounting period that you have open in Vision.
- Fiscal Year Accumulated Depreciation — This is the accumulated depreciation that is calculated for the asset item for the fiscal year through the active (current) accounting period that you have open in Vision.
- Total Accumulated Depreciation — This is the total accumulated depreciation that is calculated for the asset item through the active (current) accounting period that you have open in Vision.
- Net Book Value — This is the net book value that is calculated for the asset item for the active (current) accounting period that you have open in Vision.
- Net book value for GL book = Acquisition Cost – Accumulated Depreciation.
- Net book value for any additional books = Acquisition Cost + Additional Cost – Accumulated Depreciation – Additional First Year Depreciation – Section 179 Deductions.
- Disposal — This is the amount of accumulated depreciation that is reversed during disposal processing. This amount is the inverse of the net book value for the asset item, so after disposal processing, the net book value is zero.
- Recognized Gain or (Loss) — This is the gain or loss that is calculated for an asset item when you run disposal processing, and the item was disposed of for more than or less than its book value. This is calculated for a disposed asset item in the accounting period after its disposal.
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| General Ledger
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This column displays the information that applies for your GL book (general ledger).
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| Additional Book Columns
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If you set up one or more additional books for an asset item on the Additional Books tab in the Equipment Info Center, a column for each additional book displays in the grid. These columns display the information that applies for each additional book.
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