Asset Manager includes built-in help files accessible from most windows in the application. The help files include a search bar and an expandable/collapsible left-hand menu. This article provides additional information to supplement the help files. For setup training or assistance, contact your Account Manager to arrange consultancy. Before starting, review and confirm the System Defaults are configured correctly for your requirements.
Assets – Records – Categories
Categories must be set up first. They are used to group assets by type. Three categories are created by default when a new database is created: Equipment, Fixtures/Fittings, and Motor Vehicles. 📌 Note: Review the configuration of the default categories and add any additional ones you need. The nominal codes should reference your Dimensions account codes to control how postings are sent across. Refer to the Assets Tab section of the help files for more detail. Once categories are set up, you can create and configure your assets. Review each section and field carefully.
Assets – Records – Assets
Assets must be assigned to a category. The category defaults pull through the configuration for each asset, including nominal codes. 📌 Note: These defaults can be changed on individual assets. Refer to the Asset Manager Help files for the majority of information on this section. Postings Tab – Base Value Based On This setting controls how depreciation is calculated:
Original postings: Depreciation calculates from the original value.
Remaining postings: Depreciation calculates based on the number of postings remaining. A difference only occurs if the calculated charge is edited when posting depreciation. Remaining postings is recommended — if selected in System Control, all new assets default to this setting.
Data – Create Assets
Assets can also be capitalised from Dimensions Costing Projects or Costing Transactions.
Create Assets from Projects
This can be used where the whole value of the project needs to be capitalised.
This is commonly used where an asset is slowly built up with various purchases, and then capitalised when it is complete.
Note: Purchases made for these ‘Project Assets’ are normally posted to a ‘Work In Progress’ nominal account in Dimensions.
When the Project is capitalised in Asset Manager, an addition has been made, which would result in a journal being posted back into Dimensions.
The Relevant Sort Keys/User Character Keys as specified in the System Settings must be set against the Project in Dimensions so that the Project can be recognised by Asset Manager as one to be capitalised.
To import the Project as an Asset in Asset Manager, you can then use the ‘Create Assets from Projects’ option from the Data tab Create Assets option. Note that Asset Manager will allocate the Project Code to the Asset Code, which allows a cross-reference between Asset Manager and Dimensions.
If, after a Project has been capitalised in Asset Manager, and an additional cost/credit is posted to the Project, Asset Manager will import the additional cost/credit as an addition to the original asset capitalised.
Asset Manager does this by comparing the total cost against the Project to the Cost Value of the Asset, and posting an addition transaction for the difference.
Create Assets from Costing Transactions
This allows you to create new assets from transactions that have gone through the costing module in Dimensions and to add costing transactions to existing asset records.
Separate transactions in on the project can also be combined to form a single asset.
Note: If a Project has been capitalised from ‘Create Assets from Projects’, then that Project is not available to capitalise from Costing Transactions.
When you enter a Project code and choose ‘Build’, the available transactions will be displayed. These displayed transactions are posted to the project which have not been capitalised.
By highlighting a transaction line, an Asset Code can be entered. Note that if the same asset code is entered against more than one line, then the transaction values are combined to for a single asset.
A line item can also be expanded to form several assets.
When proceeding to process through, you will be made to select the Category for each asset using the search icon, and the Location if needed.
Note that the Service Year and Period can be changed to a prior Year/Period if the Asset was purchased in that prior Year/Period.
You can then confirm and process to continue with creating the Assets with caution.
Note: Care must be taken to ensure that, if Assets are to be capitalised from Costing/Costing Transactions, they must not be posted to the Fixed Asset Nominal Codes in Dimensions.
Doing so will run the risk of capitalising the assets twice – once through the Access Link, and again from the Costing Projects/Transactions.