The Asset Manager Help files which can be launched from various windows within Asset Manager. The help files can allow you to open navigation to enable the search bar, as well as provide a left-hand menu section which can be expanded/collapsed. This article provides some additional information.
If further assistance or training is required for Asset Manager database setup, then you would need to refer to consultancy by liaising with your Account Manager.
Before starting, ensure to review the System Defaults confirming that this is configured correctly to your requirements.
Assets - Records - Categories
The first type of records that must set up are categories.
These category records are used to group assets by the type of asset.
Three Categories are set up by default when a new database is created – Equipment, Fixtures/Fittings and Motor Vehicles.
Note: It would be best practice to review the configuration of these, as well as inserting any new ones you will require. The nominal codes should refer to your Dimensions account codes to dictate how postings are sent across. Please refer to the Assets Tab section of the help files.
Once the categories are setup to your needs, you can then proceed in creating and setting up your Assets. Each section/field should be reviewed to ensure that this is correctly configured.
Assets – Records – Assets
The assets which you create would need to be assigned to categories, and the category defaults will pull through the configuration for the Assets, i.e. the nominal codes.
Note: These defaults can be changed on each asset.
Please refer to the Asset Manager Help Files as majority of the information for this section is covered.
Additional information for the Postings Tab of an Asset – Base value based on:
If set to Original postings then the depreciation will calculate from the original value.
If set to Remaining postings then it will calculate the charge based on the No. of postings remaining. There will only be a difference if the calculated charge is edited at the time of posting the depreciation.
It may be recommended that the option on remaining postings is selected, and if this is selected in system control then any new asset will default to this selection.
Data – Create Assets
Assets can also be capitalised from either 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.