Resource Information and Control Corporation


Fixed Assets

Getting There: Accessing this application is done by double clicking on the Fixed Assets icon in the Accounting main menu.



Purpose: Fixed Assets is used to track assets in the property, plant and equipment classifications. Typically this includes buildings owned, land, equipment, tools, furniture and fixtures used in operating the business. Fixed assets, with the exception of land, are depreciated over time as they are used, with their initial cost apportioned to expense over their estimated useful lives. The ConCentRICs Fixed Assets application currently supports the following four popular depreciation methods: Straight-line, Sum-of-the-digits, Declining Balance, and Units of Production. You can choose the most appropriate method for each particular asset. You can also set an asset to a No Depreciation setting for such items as land.

HINT: You can position your mouse pointer over any of the icons below to see a brief text-only description on that application.

Fix Asset Reports Equipment Purchases Fix Asset Inquiry Vendor Inquiry Report Wizard Process Equipment Depreciate Process Inventory Process Fix Asset Control Post Journal

Fixed Assets Modules Overview



Fix Asset Reports is used to generate a predefined report. All reports are defined using the Report Wizard option. You can change the title, selection and sort criteria for any currently defined reports. Once a report is produced, double clicking on any fixed asset item will allow you to see all of the fields for that item.
Security Level: To view - Read Only. To perform maintenance - Normal.

Double clicking on the Fix Asset Reports icon will bring up the Fix Asset Reports dialog box.



The following is a break down of the dialog box:

  • The list box will show each report defined for Fixed Assets.
  • The Change Title button is used to change the default title for the report.
  • The Item Selection button is used to review the default record selection for the report.
  • The Sort Selection button is used to review the default sort selection for the record.
  • The Rebuild the Report after Maintenance check box, if checked, will cause the report to be regenerated every time the maintenance activity is performed. If it is not checked, then the records will be updated in place.


  • If you click on the Report Description button, a description of the report selected will appear.















    • Back on the Fix Asset Reports dialog box, if you click on the button the requested report will be generated.

    [This scrollable report is shown in two parts because of size constraints.]

    You can see the detail for any fixed asset item by double clicking on it.




    Equipment Purchases is used to review upcoming purchases that will effect the Fixed Assets system. This option will look at information in the Accounts Payable application and will look at all outstanding purchase requisitions and purchase orders issued and not yet received. Any item assigned to one of the Fixed Asset account numbers will be reported.
    Security Level: To view - Read Only. No maintenance actions are associated with this option, so no other security is required.

    Double clicking on the Equipment Purchases icon will bring up the Equipment Purchases report.

    [This scrollable report is shown in two parts because of size constraints.]


















    The system will look at all purchase orders for the current and previous years.



    Double click on any report line and see the detail of any Purchase Order or Purchase Requisition.

    [This scrollable report is shown in two parts because of size constraints.]












































    Fix Asset Inquiry is used to directly access the details of a fixed asset item when you already know the specific item you want. This option allows you to enter a decal number or internal reference number.
    Security Level: To view - Read Only. To perform maintenance - Normal. To delete an asset - Manager.

    Double clicking on the Fix Asset Inquiry icon will bring up the Fix Asset Inquiry dialog box.



    You have to enter either a Decal Number or Internal Reference Number.



    Click on the button and the Fix Asset Item maintenance dialog box will appear.

    Here you can make any needed changes.

    Click on the button and the Fix Asset Inquiry message box will appear.

    If you click on the Yes button, you can make another Fixed Asset Inquiry without returning to the menu. Click on the No button if you are done.




    Vendor Inquiry is used to show all activity for any company in the current fund. The system will show you every outstanding Purchase Requisition and Payment Request for that vendor, as well as every Purchase Order and Bank Check issued to that vendor. It will span checking accounts and fiscal years. This will be a comprehensive list of activity.
    Security Level: To use - Read Only.

    Double clicking on the Vendor Inquiry icon will bring up the Name and Address Selection dialog box.

    Double click on the desired vendor's name and a report will appear listing all activity for that vendor.

    Double click on any line and the detail report for it will be generated.

    [This scrollable report is shown in two parts because of size constraints.]






























    Report Wizard is used to predefine reports that will be used in the Fixed Assets application.
    Security Level: To view & print lists - Read Only. To add or change a report - Normal. To delete a report - System.

    Double clicking on the Report Wizard icon will bring up the Report Wizard list.

    The list shows every predefined report created with Report Wizard.

    Double clicking on a report name will bring up the Report Wizard Maintenance dialog box.



    Everything required to maintain a report is contained in this dialog box.

    The following is a break down of the dialog box:

  • The Report Name field is the title description for the report.
  • The Control Number, is a number found between the Report Name field and the Report Description button), is the internal system control number for this report.
  • The Report Description button is used to enter a text description for the report columns.
  • The Sort Selection button is used to set the default sort selection for this report.
  • The Item Selection button is used to set the record selection to use for this report.
  • The Report Columns: list box will show all of the columns currently defined for the report.
  • The Add button is used to move the contents of the Column Detail over to the Report Columns: list box.
  • The Delete button is used to remove the current active column from the Report Columns list box.
  • The Move Up button is used to take the current active column and make it switch places with the line above it.
  • The Move Down button is used to take the current active column and make it switch places with the line below it.
  • The Column Name: combo box contains a list of all the possible work order fields.
  • The Column Label: field is the label that will appear on the column.
  • The Column Size: fields are in two parts. The first part controls all fields and is the total size of the column. The second field is the number of decimal places for amount fields or the output size for text fields.
  • The Column Alignment section contains options to indicate where a field will appear within it's column, either on the Left side, Centered, or on the Right side.
  • The Total this column check box will only be active for numeric and amount fields. If checked, then the total of all values in this field will be totaled and the total will appear at the bottom of the report under the column.
  • The Show as Money/Show with Commas check box will show Show as Money when an amount field is selected. It will show as Show with Commas if a number field is selected.
  • The Name Field: combo box will only be active for a Name and Address field and will list the possible name and address fields that can be used for the field.
  • The List Specs button is used to save the dialog box and will display a screen with all of the report specifications.
  • The Run Report button is used to save the dialog box and will generate a report based on this definition.
  • The Total Formula button (not shown), will only appear if you choose one of the nine Total Column selections in the Column Name combo box and is used to set the calculation to be used for that field.

    • If you wanted to add a report, click on the blue button and that will bring up the Report Wizard dialog box.


    Each option in this dialog box represents each of the different possible types of reports.

    The Copy Report option is used for creating a new report from an existing one.














    Process Equipment is used to help automate the entry of new equipment. This option is the link between ConCentRICs Accounts Payable and Fixed Assets. Accounts Payable will constantly monitor the receipt of new purchases. If any of the new items are charged to one of the Fixed Asset accounts, then an informational record is generated for the Fixed Assets system.
    Security Level: To view - Read Only. To turn these informational items into fixed asset items - Normal

    Double clicking on the Process Equipment icon will bring up the Process Equipment report.

    [This scrollable report is shown in two parts because of size constraints.]
















    You can see the detail for any fixed asset item by double clicking on it.

    Here you can make any needed changes.




    Depreciate Process is used to calculate the depreciation value for each appropriate asset for the current period. The costs of assets should be debited to the related expense accounts in a systematic manner during the expected useful life of the asset.
    Security Level: To view - Read Only. To perform maintenance - Normal. To delete - Manager. To process a depreciation activity and post it to the journal - Advanced.

    Double clicking on the Depreciate Process icon will bring up the Depreciate Process dialog box.



    The following is a break down of the dialog box:

  • The Depreciation Review option is used to verify the status of all fixed assets that have depreciation.
  • The Depreciation Period Units option will display a report of all assets with the Units-of-production depreciation method.
  • The Depreciation Preview Run option is used to verify that the correct amounts are being calculated before they are actually posted.
  • The Depreciation Process option is used to calculate and post the depreciation accumulated for the selected period.
  • The Last Depreciation Period combo boxes indicates the month and year that was used when depreciation was last calculated.
  • The Current Depreciation Period combo boxes indicate the period of time that depreciation will be calculated.

    • Select the option desired, click on the button and the selected report will appear.

    [This scrollable report is shown in two parts because of size constraints.]

    You can see the detail for any fixed asset item by double clicking on it.

    Here you can make any needed changes.




    Inventory Process is used to take a physical count of all fixed asset items. This is usually conducted once a year but the system will allow you to do this as often as desired.
    Security Level: To view - Read Only. To perform maintenance - Normal. To delete - Manager.

    Double clicking on the Inventory Process icon will bring up the Inventory Process dialog box.



    The following is a break down of the dialog box:

  • The three options, Missing Items Report, Manual Inventory Process and Process Inventory File, are used to indicate which inventory process will be performed.
  • The Inventory Date field indicates the date the last inventory took place.
  • The External File Definition button is used to define to ConCentRICs any data field in any position of an external file.
  • The Departments combo box will contain all Departments defined to the system. (This function is only used with either the Missing Items Report or Manual Inventory Process.)
  • The Additional Report Field combo box, contains all possibles fields that can be used for the last column on the report. (This function is only used with the Missing Items Report.)

    • Click on the button and the selected report will appear.

    You can double click on any line item to see more detail on it.




    Fix Asset Control is used to set the overall parameters of Fixed Assets. The overall parameters control how the Fixed Assets application will operate for the current Accounting Fund. This will control such things as to which account numbers will be used for posting and the default values for any fixed asset fields. This option also has a second purpose. It is used to determine the Table fields and Name and Address fields that will be included in the data entry of a fixed asset item.
    Security Level: To use - Manager.

    Double clicking on the Fix Asset Control icon will bring up the Fix Asset Control dialog box.



    The following is a break down of the dialog box:

  • The Accumulated Depreciation Account/Select Account Number - when depreciation is calculated the system will post the amount of the total depreciations for the period to the Fixed Asset Journal. This account will represent the credit account used for that transaction. The corresponding button is used to set or change the displayed account number.
  • The Depreciation Expense Account/Select Account Number - when depreciation is calculated the system will post the amount of the total depreciations for the period to the Fixed Asset Journal. This account will represent the debit account used for that transaction. The corresponding button is used to set or change the displayed account number.
  • The Gain on disposal account/Select Account Number - any extra money received from the disposal of an asset will be placed in the Gain account. The corresponding button is used to set or change the displayed account number.
  • The Loss on disposal account/Select Account Number - any extra money lost from the disposal of an asset will be placed in the Loss account. The corresponding button is used to set or change the displayed account number.
  • The Table Fields button is used to control which ConCentRICs tables may be used as data fields inthe Fixed Asset application.
  • The Name and Address Fields button is used to control which ConCentRICs Name and Address categories may be used as data fields inthe Fixed Asset application.
  • The Fixed Asset Default Values button is used to set any fixed asset field with a default value.
  • The Fixed Asset Account Numbers button is used to set which account numbers in the General Ledger refer to Fixed Asset items.




    • Post Journal is used to view and/or post fixed asset transactions before they are applied to the General Ledger. This option defaults to the Post Journal, but if your security is set high enough you can post any journal. The transactions on this journal are generated during the Depreciation Process.
    Security Level: To view - Read Only. To adjust a transaction on the draft - Privileged. To post the journal - Manager. To delete a journal without posting it - System.

    Double clicking on the Post Journal icon will bring up the Post Journal dialog box.



    The following is a break down of the dialog box:

    The current Accounting Fund and Accounting Year will be displayed at the top of the dialog box. If the right fund and year is not displayed, use the Change Fund and/or Change Year options to make changes. For more information on how to perform these procedures, see Common Functions in Product Demonstration Accounting. The Journal Status will show the current status of the Journal. You can click on the Draft button to get a draft report of the Journal. When you are ready to post the Journal, click on the Post button.

    NOTE: The Post button will not be active unless the Journal is ready to be posted and you are authorized to post it.

    When a Journal is posted, the transactions are posted to the General Ledger and are removed from the Journal.

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    Copyright 2012 Resource Information and Control Corporation. All rights reserved.

    Last Modified: Thursday, January 05, 2012 at 6:00 PM.