The fixed asset module in Uniconta is designed to give companies an overview of their fixed assets, making it easy to track and manage assets throughout their lifecycle.
The asset module is integrated with the general journals, so that the asset book is automatically updated with acquisition values, write-ups and write-downs, depreciation, loss/win and sales values when these amounts are posted in the general journals.
Video about the Plant module
Watch a
VIDEO about the plant module.
Start-up of plant module
When starting up the Plant Module, do the following:
- Create the ledger accounts you want to use for posting receipts, departures, depreciation, etc., if these have not already been created
- Create fixed asset groups under General ledger / Fixed assets / Fixed asset group. Read more here
- Create fixed assets under General ledger / Fixed assets / Fixed assets as described below.
- Enter opening entries on each fixed asset under the Primo entries button if you already have balances on your fixed accounts in general ledger. See description below under the heading 'Primo Transactions'.
or
- Post transactions etc. in a posting journal so that you both post transactions to your fixed income accounts in general ledger and get updated values on the installations in the fixed asset directory. See description below under the heading 'Posting fixed asset amounts in accounting journals'.
Primo transactions
If you have converted data to Uniconta from another system where you have had a plant module, you must manually create plant groups, import the master information on your plants and import or enter primaries on your plants.
Primo transactions can be entered under the
Primo transactions button from the Plant Overview. Alternatively, they can be imported via
Tools/Data/Load data to the FAMTransClient table.
Note! Since no ledger entries are posted in connection with the opening entries on installations, no checks are carried out on whether opening entries are entered with dates in open financial years and/or existing fiscal years. For example, if a plant was acquired in the year 2001, but the oldest fiscal year in the financial year is the year 2017, then you can enter or import an opening transaction where the date on the transaction is the actual acquisition date.
Do not create lines with prime items without amounts. If there are lines without amounts, delete the line and create a new one.
Create fixed asset groups
The fixed assets must be associated with a fixed asset group, so before you create fixed assets, you must create at least one fixed asset group under
General ledger/Fixed assets/Fixed asset group. Read more
here
Create fixed assets
Fixed assets are created under
General ledger/Fixed assets/Fixed assets by selecting the
Add button on the ribbon, and the fixed asset card appears.
The fields are described below.
Description of fields
| Field |
Field Description |
Required to create depreciation |
| Fixed asset |
|
|
| Fixed asset |
Optional number/code |
Yes, yes, yes |
| Name of the asset |
Name of the fixed asset |
|
| Fixed asset group |
Select a fixed asset group. Read about creating the groups here |
Yes |
| Life bike |
Select where in the fixed asset life cycle the plant is located. It is only when using the sales function that the field is automatically set to 'Sold' otherwise there is no automatic control of the field. |
|
| Employee |
Here, for example, the employee who uses the fixed asset can be selected. Read about creating employees here |
|
| Insurance supplier |
Here you can select a supplier from the Accounts Payable file. |
|
| Sold to |
Here you can select a customer from the Accounts receivable file. |
|
| Main asset |
Select a main fixed asset here. The field helps to group the fixed assets. Used to filter the screen, for example. |
No, you can't. |
| Description of the asset |
A longer description of the fixed asset. |
|
| Serial number |
Serial number of the fixed asset. |
|
| Make of the asset |
Brand of the fixed asset. |
|
| Model |
Model on the fixed asset. |
|
| Insurance policy number |
Insurance policy number. |
|
| Insurance value |
Insurance value of the fixed asset. |
|
| Amount of money |
|
|
| Purchase amount |
The field is automatically updated with the value from the transactions that are recorded on the fixed asset with the Acquisition transaction type. This applies to both opening entries entered under the Primo entries button, as well as transactions posted via the general journals. |
|
| Expected scrap value |
Enter the expected scrap value of the fixed asset. That is, the value at which the fixed asset is expected to be able to be sold. This amount is deducted before depreciation. |
|
| Not eligible for depreciation |
Enter an amount of an asset that is not depreciable. This amount is deducted before depreciation. |
|
| Depreciation |
The field is automatically updated with the value from the transactions that are recorded on the fixed asset with the Depreciation transaction type. This applies to both opening entries entered under the Primo entries button, as well as transactions posted via the general journals. |
|
| Reversal of depreciation |
The field is automatically updated with the value from the transactions that are recorded on the fixed asset with the transaction type of Depreciation. This applies to both opening entries entered under the Primo entries button, as well as transactions posted via the general journals.
Depreciation reverses when a fixed asset is sold. See more about this below. |
|
| Write up |
The field is automatically updated with the value from the transactions that are recorded on the fixed asset with the Record transaction type. This applies to both opening entries entered under the Primo entries button, as well as transactions posted via the general journals. |
|
| Write-down |
The field is automatically updated with the value from the transactions that are recorded on the fixed asset with the Depreciation charge type of transaction. This applies to both opening entries entered under the Primo entries button, as well as transactions posted via the general journals. |
|
| Lose/Win |
The field is automatically updated with the value from the transactions that are recorded on the fixed asset with a Loss/Wind transaction type. This applies to both opening entries entered under the Primo entries button, as well as transactions posted via the general journals.
If a sale of a fixed asset is posted in the general journals, and there is a difference between the posted value and the sales value, then a transaction is automatically formed on the fixed asset with a Loss/Wind type. |
|
| Book value |
The field is automatically updated with the posted value of the fixed asset. I.e. purchase price - depreciation + revaluations - write-downs |
|
| Sale of products |
The field is automatically updated with the value from the transactions that are recorded on the fixed asset with a sales transaction type. This applies to both opening entries entered under the Primo entries button, as well as transactions posted via the general journals. |
|
| Disposal cost |
Here you can enter a disposal cost if you know that it costs a certain amount to get rid of this fixed asset. |
|
| Date |
|
|
| Date of purchase |
The field is automatically updated with the posting date on the transaction that is recorded on the fixed asset with the acquisition transaction type. It can be both a primo entry entered under the Primo transactions button or a transaction posted via the general journals. |
Yes |
| Depreciation start date |
Here a desired start date for depreciation can be entered. If no date is entered here, the Purchase Date is used as the start date for the depreciation.
Note! Depreciation is not per day, but for the period selected in the Depreciation period field. For example, if 10/3 21 is entered, then the depreciation will start in March and be calculated as a full month's depreciation. If depreciation calculated down to days is desired, then the first month's depreciation must be booked manually. |
|
| Disposal date |
The field is automatically stamped with the date from the sales record when posting an asset record with the asset record type Sales. |
|
| Last depreciation |
The field is automatically updated with the date of the last depreciation recorded on the fixed asset. |
|
| Depreciation |
|
|
| Depreciation method |
Select one of the depreciation methods below:
Read more about the depreciation methods below. |
Yes or No |
| Depreciation period |
Here, choose one of the depreciation periods below:
Note that Quarterly = Calendar Quarters and 3 Months = Financial Year Quarters. The latter is used for skewed fiscal years that do not follow the calendar quarters. |
Yes |
| Depreciation % per year |
Enter the desired depreciation percentage here, e.g. if the depreciation method Balance value % is used |
|
| Lifetime |
Enter the expected lifetime of the asset in years here |
Yes or No |
| Manual depreciation |
Here you can manually enter a desired depreciation amount per month. This field is used in conjunction with the manual depreciation method. |
|
| Dimension |
|
|
| X |
If dimensions have been created, you will see one field per created dimension. |
|
Description of buttons
Below are selected buttons on the fixed asset overview ribbon. The fixed assets overview can be found under
General ledger/Fixed assets/Fixed assets.
Transactions
This shows the transactions that are registered on the selected fixed asset. This applies to both transactions that are registered under the
Primo transactions button and the entries that are posted to the fixed asset through a general journal.
Generate depreciation
This button is used to generate depreciation entries in an accounting journal.
Read more about this below in the section 'Depreciation'.
Primo transactions
Opening balances on fixed assets can be entered here if you do not wish to post ledger entries in connection with this. That is, this method is used for openings that are already registered in finance.
Fixed asset balances can also be recorded through posting in the general journals. Read more about this below.
Select
Add record and enter the opening balances that you want per facility transaction type. For example, enter a line with type Acquisition and a positive amount, as well as a line with type Depreciation and a negative amount, to get both the purchase value and the sum of previously posted depreciation recorded on the fixed asset. Select
Save when you're done typing.
The opening entries can then be viewed along with the posted entries under the
Transactions button.
Note! The primo transactions can also be imported via
Tools/Data/Load Data into the FAMTransClient table.
Note! Since no ledger transactions are posted in connection with entering opening entries on installations, no checks are carried out on whether opening transactions are entered with dates in open financial years and/or existing financial years. For example, if a plant was acquired in the year 2001, but the oldest fiscal year in the accounts is the year 2017, then you can enter an opening entry with the acquisition on the actual acquisition date.
Note! If you delete old fiscal years in which you posted fixed asset transactions, then those transactions are moved to the capital start transactions. This means that these records can now only be viewed under the
Primary records button on the asset.
This way, it is still possible to see when the asset was acquired etc. Read more about deleting old financial years
here.
Posting to fixed assets through posting journals
- Select General ledger / General journalsand create a journal for Plant.
- Open the journal lines and add the Fixed asset and Fixed record type fields. Read how to add fields here.
- Select the facility and the plant transaction type to register on. If the account and offset account fields are filled in under the Fixed asset groups, then these fields are automatically filled in the journal, but you can also fill them in manually in the journal.
- Post the journal normally.
Depreciation
The system can automatically generate depreciation transactions based on the choice of depreciation method, posted values, etc.
To do this, select the
Generate depreciation on tape button under
Economy/Fixed assets/Fixed assets.
When the
Generate Depreciation button is selected, you need to choose which journal to place the depreciation in. You can also select a fixed text. In the
Posting date field, select the date that the depreciation should be calculated per and also posted with.
The depreciation is transferred to the general journal, where they must be manually posted.
The text of the depreciation in the accounting journal is shown as <plant no.>,< plant name>
Depreciation is calculated per depreciation period shown on fixed assets. If, for example, a quarter has been chosen for a fixed asset as the depreciation period, then no depreciation is generated on this plant in February, but rather in early March.
If the fixed asset is acquired in the middle of a quarter, then this is also taken into account when calculating the depreciation for the 1st quarter.
Note! Depreciation is not calculated at the daily level. The minimum depreciation period is therefore 1 month. If an asset is acquired in the middle of a month and only a depreciation of 1/2 month is to be booked, then this first depreciation must be booked manually.
Depreciation is calculated differently depending on the method of depreciation:
| Depreciation method |
Description of depreciation |
| Linear depreciation |
((Cost amount - Expected scrap value - Non-depreciable amount) * depreciation % pa)
If no depreciation % pa is filled in for the asset, life years is used instead. |
| Straight-line depreciation over the useful life |
((Cost - Expected scrap value - Non-depreciable amount - Depreciation) / useful life) / depreciation period |
| Net book value % pa |
((Book value - Non-depreciable amount) * depreciation % pa) / depreciation period
If no depreciation % pa is filled in for the asset, then lifetime years is used instead. |
| Scrap value life |
Rate = 1 - (((Scrap value + Non-depreciable amount)/Cost amount) ^ (1 / lifetime))
Depreciation = (Book value * Rate) / depreciation period |
| Balance value Month % |
Rate = ( 1 - (depreciation % pa / 100) ^ (1 / periods per year)) * 100
Depreciation = (Book value - Non-depreciable amount) * Rate
If no depreciation % pa has been filled in for the asset, then lifetime years is used instead. |
| Immediate depreciation |
Cost amount - Scrap value - Non-depreciable amount |
| Manual |
Manually entered depreciation amount summed per month desired depreciation period; |
| Fully written off |
No depreciation is formed. This depreciation method is chosen on fixed assets that are intended to be created in the fixed module, but which have already been fully depreciated. |
Sale/scrapping
It is possible to create transactions when selling/scrapping a plant in a posting journal, so you do not have to manually enter the transactions.
In connection with the addition of the new sales function in version 89 of Uniconta, new asset record types have also been added, and changed in the way the book value of the projects is calculated. It is therefore necessary to manually update previously posted sales transactions on facilities so that these are corrected to the new plant record types. Read more about this in this article under the heading 'Fix sales records version-89'.
- Issue an invoice to the buyer of your fixed asset
- Select General ledger/Fixed assets/Fixed assets
- Place the cursor on the plant that has been sold and select the Sell Fixed Asset button
- Fill in the fields below and select OK
| Field name |
Field Description |
| Draft |
Select the draft where the sales records should be transferred to. |
| Date of sale |
Select the date the asset is sold |
| Text |
If necessary, enter a desired text. This text will be used on the lines of the posting journal |
| Amount |
Enter the sales amount excluding VAT.
If the equipment has been scrapped, the amount can be entered as 0 DKK if you have not received any scrap money when scrapping the equipment. |
| Seller account |
Enter the sales account to which you posted the sales amount when you issued the invoice to the buyer of the fixed asset
If the asset has been scrapped for $0, you still need to enter an account. For example, choose a "sales miscellaneous" account if you don't have an account that you use to post revenue from the sale of fixed assets in the income statement. |
- Select OK to jump to the lines in the posting journal
- In the selected posting journal, the following lines are now formed. Post the journal normally.
On the 1st line, the previously posted depreciation is reversed. The account is automatically retrieved from the Depreciation (status) field on the fixed asset group. On the 2nd line, the acquisition value is reversed. The account is automatically retrieved from the Sale field on the fixed asset group. On the 3rd line, the loss/profit related to the sale is posted. That is, the difference between the book value before the sale and the amount of the sale. The account is automatically retrieved from the Loss/Win (Operation) field on the fixed asset group. On the 4th line, the sales amount entered in the prompt is posted to the sales account specified in the prompt. Note! The lines are formed without VAT code, as VAT on sales has already been posted in the invoice to the buyer of the plant.
- On the plant map, the Life cycle field is now changed to 'Sold', the Disposal-date field is populated with the date of sale, the Blocked field is selected, and the posted value is 0.
Partial sale of plant
If you only sell part of a total plant, then you need to split up your plant before registering the sale. For example, if you sell half of an asset, you need to create a new asset, possibly as a copy of the existing asset, and then transfer half of the value to the new asset, either via a bookkeeping journal or by entering under the
Primary items button on the asset overview, so you end up with two assets, each with 50% of the value, 50% of the depreciation etc.
Then you can post a sale on one of the two plants, and continue with depreciation, etc. on the other plant.
Fix sales records version 89
In connection with the addition of the new sales function in version 89 of Uniconta, new asset item types have also been added, and changes have been made to the way in which the book value of the projects is calculated.
It is therefore necessary to manually update previously posted sales transactions on facilities so that these are corrected to the new plant record types. This is done as described below.
It is recommended that you contact your Uniconta reseller for assistance.
Note! This procedure requires that any sales transactions at the facilities be posted as described in the section titled 'Plant sales in version-88' above.
Very few sales records
- Select General ledger/Fixed assets/Fixed assets
- Find the plant you have sold
- Select the Transactions button and note the date and amount of your asset record with the 'Sales' asset record type
- Go back to the fixed asset overview and select the Primo transactions button
- Enter lines with the date you noted as shown below. If you do not want to be able to see your actual sales amount and loss/win on the plant, then it is only necessary to enter line 1+2.1. line is entered with the same date and amount as the current transaction with the fixed asset record type 'Sales', only with the opposite sign, so you get the posted sales value reversed.2. line is entered with the same date + amount as the current transaction with the plant record type 'Sales', but on this line, the plant record type must be set to 'Reversed acquisition'.3. Line is entered with the same date, but with the actual sale amount. That is, the price excl. VAT you received for your plant when you sold it. Remember to enter the amount with negative sign and use plant record type = Sales4. Line is entered with the same date, but with the amount you lost/won in the sale of the plant. This amount is usually calculated as follows (Acquisition value - book depreciation - selling price excluding VAT).
- Select the Save button on the ribbon
- Select the Update button on the ribbon in the plant overview
- Select the Edit button to check that the book value of the plant is 0 and that the sales price and loss/win appear on the plant map.
- Repeat the above items on the fixed assets that you have already posted as sold. If you have not yet posted sales on the plant, then it is recommended to use the method described in the section above with the heading 'Sales of plants in Version-89'.
Fix multiple sales records at once
- Select Tools/Data/Data Manipulation
- Search for the 'FAMTransClient (FAMTrans)' directory
- Select the directory in the list and select the Fields button
- Check the Select All box to display all fields
- Select the Continue button
- Filter the list that appears so that you see only the fixed transactions that have been posted with fixed asset record type = Sales:
- Right-click the Site Record Type column heading and select the Assign New Field Value item
- Fill in the Value field with Reversed Acquisition and select the OK button:
- Change the filter so that you see all records with a construction record type of 'Reversed acquisition'
- Select the Update
button If you want to be able to see the real sales price and any loss/win at your plant, you must also do the following:
- Select General ledger/Fixed assets/Fixed assets
- Find the plants that have been sold
- Select the Transactions button and note the date on the record with the construction record type 'Reversed acquisition'
- Go back to the fixed asset overview and select the Primo transactions button
- Enter lines 3+4 in the image below so that you register the actual sales price excl. VAT as well as any loss/gain that has been in connection with the sale:
- Select the Save button on the ribbon
- Select the Update button on the ribbon in the plant overview
- Select the Edit button to check that the book value of the plant is 0 and that the sales price and loss/win appear on the plant map.
Construction inventory
Under
General ledger/Fixed assets/Bank statements, you can search for the movements that have occurred on your installations in a given period, for example in a financial year. Enter from and to dates and select the Search button.
Subsequently, you can select the
Inventory button to view a construction statement, with opening values, entries and departures for the year, etc.
