# Asset groups

Asset groups allow you to group assets by an arbitrary classification. When the asset group is chosen on the Fixed Asset form, all fields from the Asset Group will be added to the Fixed Asset form and you have the ability to change the pre-filled fields if required. Every asset belongs to exactly one asset group which is used to classify the asset according to what type of item it is.

Features

- No practical limit on the number of Asset groups that can be created
- An unlimited number of assets can belong to a single Asset group
- Asset group names are FlexiCode, allowing the name to be changed while still retaining all internal links to that Asset group

Asset Groups form

Module: Fixed assets

Category: Asset groups

Activation: Main > Fixed assets > Setup > Asset groups

Form style: Single instance, SODA

Special actions available for users with Administrator permissions:

- Change the User ID of the Entered by field of memos.
- Edit memos entered by other users.

Database rules:

- An asset group cannot be deleted if any Assets are assigned to the asset group

Field definitions

Asset groups

Reference: list, read-only

This is the complete list of all Asset groups currently defined in Accentis Enterprise.

As you click on each item in the list, the details for the selected Asset group appear on the right.

When you want to edit or delete an Asset group, highlight the group in the list and click on the Edit or Delete button.

Name

Reference: text(30), mandatory, FlexiCode

This is the name used to identify the Asset group. This is a FlexiCode field which means that it can be modified at any time without affecting any of the internal links to the actual Asset group.

Description

Reference: memo, expandable

This is a general description of the Asset group and can contain any necessary information relating to the asset group.

Default depreciation type (Book &Tax)

Reference: Select from list, mandatory

This is the default rate initially set for new assets created with this group, but once created, the type and rate can be change within the asset itself. It must be one of the following:

- Prime Cost: Each time an asset is depreciated, it is depreciated by a percentage (the Depreciation rate) of the Depreciation prime cost value
- Diminishing Value: Each time the asset is depreciated, it is depreciated by a percentage (the Depreciation rate) of the current written down value of the Asset
- Full: The first time the asset is depreciated, it is depreciated for the full amount of its Depreciation prime cost leaving it with a written down value of zero

Default depreciation rate (Book &Tax)

Reference: quantity

For assets assigned to this asset group, this is the default rate of depreciation for a full year for a depreciation type of Prime cost or Diminishing value expressed as a percentage. If a depreciation transaction is being performed for only a portion of a year, only the proportionate amount of the depreciation rate is used to calculate the depreciation value.

Asset account

Reference: account, QuickList

For assets assigned to this asset group, this is the default General ledger account used to store the book prime cost of the Asset. The prime cost of the Asset is the original cost that was used as the starting point for the value of the Asset before any depreciation has occurred.

Accumulated depreciation account

Reference: account, QuickList

For assets assigned to this asset group, this is the default General ledger account used to tally up the reduction in value of the Asset due to accumulated depreciation. The amount of any depreciation transaction for the Asset is credited to this account.

Depreciation expense account

Reference: account, QuickList

For assets assigned to this asset group, this is the default General ledger account that is updated every time the Asset is depreciated. The amount of any depreciation transaction for the Asset is debited to this account.

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