Asset classes

Create an asset class

1. In the Navigation pane, highlight the Fixed Assets > Setup > Classes folder.
2. Click . The New Class window opens.

   

3. Enter a unique Code for the asset class.
4. Enter a Description of the asset class.
5. In the Asset Account field, select the account to load as the default asset account for assets in this asset class. The asset account is used to post acquisition, added value, and disposal transactions.
6. In the Accum Depr Account field, enter the account mask or the specific account number for the accumulated depreciation account to use for assets in this class.
7. In the Depr Expense Account field, enter the account mask or the specific account number for the depreciation expense account to use for assets in this class.
8. In the Gain/Loss Account field, enter the account mask or the specific account number for the gain/loss account to use for assets in this class.
9. In the Ledger Defaults table, define the ledger defaults you want ActivityHD to apply when you create a new asset with this asset class. For each set of defaults you need to define, perform the following steps:
   1. In the Ledger column, select the ledger the default settings apply to. (If only one non-obsolete ledger exists, that ledger is loaded for you.)
   2. In the Calculation Control column, select the default calculation control to use to calculate depreciation for the ledger.
   3. In the Life (Years) and Life (Months) columns, enter the default number of years and months of life to assign to assets in this class for the indicated ledger.
10. When you finish, save the new asset class.

Create an asset class for non-depreciable assets

Fixed Assets can track non-depreciable assets as well as depreciable ones. For example, you can track the acquisition, improvement, and disposal of non-depreciable assets such as land and even appreciating assets such as structures. To track such assets, at least one asset class must be set up for non-depreciable assets. Before you set up an asset class for non-depreciable assets, you should create a calculation control with a depreciation method of "No Depreciation".

To create an asset class for non-depreciable assets:

1. In the Navigation pane, highlight the Fixed Assets > Setup > Classes folder.
2. Click . The New Class window opens.

   

3. Enter a unique Code for the asset class.
4. Enter a Description of the asset class.
5. In the Asset Account field, enter the account mask for the asset account for assets in this asset class. The asset account is used to post acquisition, added value, and disposal transactions.
6. Leave the Accum Depr Account field blank.
7. Leave the Depr Expense Account field blank.
8. In the Gain/Loss Account field, enter the account mask for the gain/loss account to use for assets in this class.
9. In the Ledger Defaults table, define the ledger defaults you want ActivityHD to apply when you create a new asset with this asset class. For each set of defaults you need to define, perform the following steps:
   1. In the Ledger column, select the book ledger.
   2. In the Calculation Control column, select a "no depreciation" calculation control.
10. When you finish, save the new asset class for non-depreciating assets.

Combine asset classes

1. In the Navigation pane, highlight the Fixed Assets > Setup > Classes folder.
2. Start the Combine wizard using one of the following methods:
• To use filters to select the source asset class(es) to combine:
1. Right-click the Classes folder and select Select and Combine from the shortcut menu.
2. On the Selection tab, define any filters to apply to the data.

   

• To hand-select the source asset class(es) to combine:
1. In the HD view, select the source asset class(es) to combine. You can use Ctrl and/or Shift to select multiple asset classes.
2. Click .
3. On the Combine tab in the Combine Into field, select the target asset class.

   

4. Click Next >>. ActivityHD prompts you to confirm that you want to combine the selected classes.

   

5. Click Yes.

   

6. When the process is complete, click Finish.