Fixed assets - global – Uniconta

The Fixed assets module in Uniconta is designed to give Enterprises an Overview of their Fixed assets and makes it easy to follow and manage the assets throughout their Life cycle.

The Asset module is integrated with the financial journals so that the asset register is automatically refreshed with acquisition values, Write-ups and write-downs, Depreciation, Profit/Loss and Sales values when these amounts are posted on the financial journals.

Asset module video

Watch a VIDEO about the asset module.

Start-up of asset module

When starting up the Asset module, do the following:

Create the ledger accounts to be used for posting receipts, issues, 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 transactions for each fixed asset under the Opening transactions button if you already have balances in your fixed asset accounts in ledger. See description below under the heading 'Opening transactions'.

Post receipts etc. in a post journal so that you both post transactions to your fixed asset accounts in ledger and get updated values on the assets in the fixed asset table. See description below under the heading 'Posting fixed asset amounts in post journals'.

Opening transactions

If you have converted data to Uniconta from another system where you have had an asset module, you must manually create fixed asset groups, import the master information on your assets and import or enter opening transactions on your assets.

Opening transactions can be entered under the Opening transactions button from the Fixed asset overview. Alternatively, they can be imported via Tools/Data/Import data to the FAMTransClient table.
Note! Since no ledger transactions are posted in connection with the opening transactions on fixed assets, no check is performed as to whether opening transactions are entered with dates in open accounting years and/or existing accounting years. If an asset, for example, was acquired in 2001, but the oldest accounting year in the accounts is 2017, you can therefore enter or import an opening transaction where the date on the transaction is the actual purchase date.

Do not create lines with opening transactions without amounts. If there are lines without amounts, the line must be deleted and created again.

Create fixed asset groups

The fixed assets must be linked to 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, after which the asset card is displayed.
The fields are described below.

Description of fields

Field	Description	Required to be able to generate depreciation
Fixed asset
Fixed asset	Optional number/code	Yes
Name	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’s life cycle the asset is. Only when using the sales function is the field automatically set to 'Sold'; otherwise there is no automatic control of the field.
Employee	Here you can, for example, select the employee who uses the fixed asset. Read about creating employees here
Insurance vendor	Here you can select a vendor from the Vendor table.
Sold to	Here you can select a customer from the Customer table.
Main fixed asset	Select a main fixed asset here. The field helps group the fixed assets. Used, for example, to filter the screen.	No.
Description	A longer description of the fixed asset.
Serial number	Serial number of the fixed asset.
Make	Make of the fixed asset.
Model	Model of the fixed asset.
Insurance policy number	Insurance policy number.
Insurance amount	Insurance amount of the fixed asset.
Amount
Purchase amount	The field is automatically updated with the value from the transactions registered on the fixed asset with the asset post type Acquisition. This applies both to opening transactions entered under the Opening transactions button, and to transactions posted via the financial journals.
Expected scrap value	Enter the fixed asset’s expected scrap value here, i.e. the value the fixed asset is expected to be sold for. This amount is deducted before depreciation.
Non depreciable	Enter any non depreciable amount on an asset here. This amount is deducted before depreciation.
Depreciation	The field is automatically updated with the value from the transactions registered on the fixed asset with the asset post type Depreciation. This applies both to opening transactions entered under the Opening transactions button, and to transactions posted via the financial journals.
Reversed depreciation	The field is automatically updated with the value from the transactions registered on the fixed asset with the asset post type Reversed depreciation. This applies both to opening transactions entered under the Opening transactions button, and to transactions posted via the financial journals. Depreciation is reversed when a fixed asset is sold. Read more about this below.
Write up	The field is automatically updated with the value from the transactions registered on the fixed asset with the asset post type Write up. This applies both to opening transactions entered under the Opening transactions button, and to transactions posted via the financial journals.
Write-down	The field is automatically updated with the value from the transactions registered on the fixed asset with the asset post type Write down. This applies both to opening transactions entered under the Opening transactions button, and to transactions posted via the financial journals.
Profit/loss	The field is automatically updated with the value from the transactions registered on the fixed asset with the asset post type Profit/loss. This applies both to opening transactions entered under the Opening transactions button, and to transactions posted via the financial journals. If a sale of a fixed asset is posted in the financial journals and there is a difference between the posted value and the sales value, a transaction is automatically created on the fixed asset with the type Profit/Loss.
Posted value	The field is automatically updated with the posted value of the fixed asset, i.e. purchase amount - depreciation + write-ups - write-downs
Sales	The field is automatically updated with the value from the transactions registered on the fixed asset with the asset post type Sales. This applies both to opening transactions entered under the Opening transactions button, and to transactions posted via the financial journals.
Disposal cost	Here you can enter a disposal amount if you know it costs a specific amount to dispose of this fixed asset.
Date
Purchase date	The field is automatically updated with the posting date of the transaction registered on the fixed asset with the asset post type Acquisition. This can be either an opening transaction entered under the Opening transactions button or a transaction posted via the financial journals.	Yes
Depreciation run date	Here you can enter a desired start date for depreciation. If no date is entered here, the Purchase date is used as the start date for depreciation. Note! Depreciation is not calculated per day, but for the period selected in the Depreciation period field. If, for example, 10/3 21 is entered, depreciation will start in March and will be calculated as a full month’s depreciation. If depreciation is required calculated down to days, the first month’s depreciation must be posted manually.
Disposal date	The field is automatically stamped with the date from the sales transaction when an asset transaction is posted with the asset post type Sales.
Last depreciation	The field is automatically updated with the date of the last depreciation registered on the fixed asset.
Depreciation
Depreciation method	Select one of the depreciation methods below: Read more about the depreciation methods below.	Yes
Depreciation period	Select one of the depreciation periods below: Note that Quarter = calendar quarters and 3 Months = accounting year quarters. The latter is used for non-standard accounting years that do not follow calendar quarters.	Yes
Depreciation rate per year	Enter the desired depreciation percentage here if, for example, the depreciation method Reducing balance % is used
Life	Enter the fixed asset’s expected life in years here	Yes
Manual depreciation	Here you can manually enter a desired depreciation amount per month. This field is used together with the depreciation method Manual.
Dimension
X	If dimensions have been created, there will be one field per dimension created.

Description of buttons

Below, selected buttons on the ribbon on the fixed asset overview are described. You can find the fixed asset overview under General Ledger/Fixed assets/Fixed assets.

Transactions
Here the transactions registered on the selected fixed asset are shown. This applies both to the transactions registered under the Opening transactions button and the records posted on the fixed asset via a financial journal.

Generate depreciation
This button is used to generate depreciation transactions in a post journal.
Read more about this below in the 'Depreciation' section.

Opening transactions
Opening balances on the fixed assets can be entered here if you do not want ledger transactions posted in connection with this. I.e. this method is used for openings that have already been registered in ledger.

Balances on fixed assets can also be registered via postings in the financial journals. Read more about this below.

Select Add record and enter the desired opening balances per asset post type. For example, enter a line with the type Acquisition and a positive amount and a line with the type Depreciation and a negative amount to have both the purchase value and the total of previously posted depreciation registered on the fixed asset. Select Save when you are finished entering.

The opening transactions can subsequently be seen together with the posted records under the Transactions button.

Note! The opening transactions can also be imported via Tools/Data/Import data to the FAMTransClient table.

Note! Since no ledger transactions are posted in connection with entering opening transactions on fixed assets, no check is performed as to whether opening transactions are entered with dates in open accounting years and/or existing accounting years. If an asset, for example, was acquired in 2001, but the oldest accounting year in the accounts is 2017, you can enter an opening transaction with the acquisition on the actual purchase date.

Note! If you delete old accounting years in which you have posted asset transactions, these transactions are moved to the fixed asset opening transactions. I.e. these records can then only be seen under the Opening transactions button on the asset.
In this way, it is still possible to see when the asset was acquired, etc. Read more about deleting old accounting years here.

Posting on fixed assets via post journals

Select General Ledger / General journals and create a journal for Fixed assets if required.
Open the journal lines and add the fields Fixed asset and Asset post type. Read how to add fields here.
Select the asset and the asset transaction type to be registered. If the account and offset account fields are filled in under the fixed asset groups, these fields are filled in automatically in the journal, but you can also fill them in manually in the journal.
Post the journal in the usual way.

Depreciation

The system can automatically create depreciation transactions based on the selected depreciation method, posted values, etc.
This is done by selecting the Generate depreciation button on the ribbon under General Ledger/Fixed assets/Fixed assets.

When the Generate depreciation button is selected, you must choose which journal the depreciation is to be placed in. You can also select an enumerated text. In the Posting date field, select the date on which depreciation is to be calculated and also posted.

The depreciation is transferred to the financial journal, where it must be posted manually.

The text on the depreciation in the post journal is shown as <asset no.>,<asset name>

Depreciation is calculated per depreciation period specified on the fixed assets. If, for example, a fixed asset has quarter selected as the depreciation period, no depreciation is created on this asset in February, but instead first in March.

If the fixed asset is acquired in the middle of a quarter, this is also taken into account when depreciation for the 1st quarter is calculated.

Note! Depreciation is not calculated at day level. The smallest depreciation period is therefore 1 month. If an asset is acquired in the middle of a month and you only want to post depreciation for ½ month, this first depreciation must be posted manually.

Depreciation is calculated differently depending on the depreciation method:

Depreciation method	Description
Straight line base	((Cost amount - Expected scrap value - Non depreciable amount) * depreciation rate) If no depreciation rate is filled in on the asset, life years is used instead.
Straight line service life	((Cost amount - Expected scrap value - Non depreciable amount - Write-downs) / life) / depreciation period
Reducing balance %	((Posted value - Non depreciable amount) * depreciation rate) / depreciation period If no depreciation rate is filled in on the asset, life years is used instead.
Reducing balance life	Rate = 1 - (((Scrap value + Non depreciable amount)/Cost amount) ^ (1 / life)) Depreciation = (Posted value * Rate) / depreciation period
Reducing balance month %	Rate = ( 1 - (depreciation rate / 100) ^ (1 / periods per year)) * 100 Depreciation = (Posted value - Non depreciable amount) * Rate If no depreciation rate is filled in on the asset, life years is used instead.
Bonus depreciation	Cost amount - Scrap value - Non depreciable amount
Manual	Manually entered depreciation amount totalled per desired depreciation period
Fully depreciated	No depreciation is created. This depreciation method is selected on fixed assets that are to be created in the asset module but are already fully depreciated.

Sale/scrapping

It is possible to have transactions created for sale/scrapping of an asset in a post journal, so you do not have to manually enter the transactions.

In connection with the new sales function being added in version 89 of Uniconta, new asset post types have also been added, and the way in which the posted value on the projects is calculated has been changed. It is therefore necessary to manually update previously posted sales transactions on assets so that these are corrected to the new asset post types. Read more about this in this article under the heading 'Correct 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 asset that has been sold and select the Sell fixed asset button

Fill in the fields below and select OK

Field name	Description
Journal	Select the journal to which the sales records are to be transferred.
Date	Select the date the asset was sold
Text	Optionally enter a desired text. This text will be used on the lines in the post journal
Amount	Enter the sales amount excl. vat. If the asset has been scrapped, the amount can be specified as DKK 0 if you did not receive any scrap money when scrapping the asset.
Sales 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 at DKK 0, you must still specify an account. For example, select a "miscellaneous sales" account if you do not have an account you use for posting revenue in connection with the sale of fixed assets in the profit and loss statement.

Select OK to jump to the lines in the post journal
In the selected post journal, the following lines have now been created. Post the journal in the usual way.

On line 1, the previously posted depreciation is reversed. The account is automatically retrieved from the Depreciation (balance sheet) field on the fixed asset group. On line 2, the acquisition value is reversed. The account is automatically retrieved from the Sales field on the fixed asset group. On line 3, profit/loss is posted in connection with the sale. I.e. the difference between the posted value before the sale and the sales amount. The account is automatically retrieved from the Profit/loss (Profit and loss) field on the fixed asset group. On line 4, the sales amount entered in the prompt is posted to the sales account specified in the prompt. Note! The lines are created with no vat code, since vat on the sale has already been posted in connection with the invoice to the buyer of the asset.
On the asset card, the Life cycle field has now been changed to 'Sold', the Disposal date field is filled in with the sales date, the Blocked field is marked and the posted value is 0.

Partial sale of assets

If you only sell part of a combined asset, you need to split your asset before you register the sale. I.e. if, for example, you sell half of an asset, you must 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 post journal or by entering under the Opening transactions button on the fixed asset overview, so that you end up with two assets each with 50% of the value, 50% of the depreciation, etc.

After that, you can post a sale on one of the two assets and continue with depreciation, etc. on the other asset.

Correct sales records version 89

It is therefore necessary to manually update previously posted sales transactions on assets so that these are corrected to the new asset post types. This is done as described below.
It is recommended that you contact your Uniconta partner and have them help you with this.

Note! This procedure requires that any sales transactions on the assets have been posted as described in the section with the heading 'Sale of assets in version-88' above.

Correct a few sales records

Select General Ledger/Fixed assets/Fixed assets
Find the asset you have sold
Select the Transactions button and note the date and amount on your asset transaction with the asset post type 'Sales'
Go back to the fixed assets overview and select the Opening 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 profit/loss on the asset, it is only necessary to enter line 1+2.1st line is entered with the same date and amount as the current transaction with the asset post type 'Sales', but with the opposite sign, so that you get the posted sales value reversed.2nd line is entered with the same date + amount as the current transaction with the asset post type 'Sales', but on this line the asset post type must be set to 'Reversed acquisition'.3rd line is entered with the same date, but with the actual sales amount. I.e. the price excl. vat you received for your asset when you sold it. Remember to enter the amount with a negative sign and use asset post type = Sales4th line is entered with the same date, but with the amount you lost/won on the sale of the asset. This amount is most often calculated as (Acquisition value - posted depreciation - sales price excl. vat).
Select the Save button on the ribbon
Select the Refresh button on the ribbon on the fixed asset overview
Select the Edit button to check that the posted value of the asset is 0 and that the sales price and profit/loss appear on the asset card.
Repeat the above points for the fixed assets you have already posted as sold. If you have not yet posted the sale on the asset, it is recommended to use the method described in the section above with the heading 'Sale of assets in Version-89'.

Correct multiple sales records at once

Select Tools/Data/Data manipulation
Search for the table 'FAMTransClient (FAMTrans)'
Mark the table in the list and select the Fields button
Mark the Select all field to show all fields
Select the Continue button
Filter the list shown so that you only see the asset transactions that are posted with asset post type = Sales:
Right-click on the column header Asset post type and select New field value
Fill in the Value field with Reversed acquisition and select the OK:
button
Adjust the filter so that you see all records with the asset post type 'Reversed acquisition'
Select the Refresh

button If you want to be able to see the actual sales price and possibly profit/loss on your asset, you must also do the following:
Select General Ledger/Fixed assets/Fixed assets
Find the assets that have been sold
Select the Transactions button and note the date of the record with the asset post type 'Reversed acquisition'
Go back to the fixed assets overview and select the Opening transactions button
Enter line 3+4 in the image below so that you get the actual sales price excl. vat registered as well as any profit/loss that has been in connection with the sale:
Select the Save button on the ribbon
Select the Refresh button on the ribbon on the fixed asset overview
Select the Edit button to check that the posted value of the asset is 0 and that the sales price and profit/loss appear on the asset card.

Fixed asset declaration

Under General Ledger/Fixed assets/Account statement you can search for the movements that have been on your assets in a given period, for example in an accounting year. Enter from and to dates and select the Search button.

After that, you can select the Declaration button to display a fixed asset declaration with opening values, the year’s receipts and issues, etc.