Assets Tutorials Creating and Editing Assets

These tutorials explain how to create and edit assets.

Navigate to Assets (e.g. Main Menu > Setup > Assets).
Click New (button) > Equipment.
Start by completing the attributes:
1. Serial No. = Enter a serial or identification number for the machine.
2. Make = Enter the make of the machine or select one from the lookup list.
3. Model = Enter the model of the machine or select one from the lookup list.
4. Year of Manufacture = Enter the year of manufacture.
5. Colour = Enter the machine’s colour or select one from the lookup list.
Click Save (button).
The Description and Code are filled in. To edit them, check the Override checkbox and make any changes.
- Note: You can edit the description and code without checking override, but changes to the attributes might overwrite your edits.

Entity = (Optional) Select an entity from the dropdown list (e.g. a machine can be linked to a specific cost centre).
Contact = (Optional) Select a contact from the dropdown list (e.g. if a photocopier is leased to a customer, the machine can be linked to the specific customer).
Add any other attributes if required (see Attributes (tab)).
Status = Set the status to Active or similar.
Click Save (button) if is not greyed out.

Navigate to Assets (e.g. Main Menu > Setup > Assets).
Click New (button) > Vehicles.
Start by completing the attributes:
1. VIN (Vehicle Identification Number) = Enter a serial or identification number for the machine.
2. Engine No. = Enter the make of the machine or select one from the lookup list.
3. Registration No. (License Plate) = Enter the model of the machine or select one from the lookup list.
4. Make = Enter the make of the vehicle or select one from the lookup list.
5. Model = Enter the model of the vehicle or select one from the lookup list.
6. Year of Manufacture = Enter the year of manufacture.
7. Body Type = Enter the body type or select one from the lookup list (e.g. Sedan, SUV).
8. Colour = Enter the machine’s colour or select one from the lookup list.
Click Save (button).
The Description and Code are filled in. To edit them, check the Override checkbox and make any changes.
- Note: You can edit the description and code without checking override, but changes to the attributes might overwrite your edits.

Entity = (Optional) Select an entity from the dropdown list (e.g. if a vehicle is used in production, it can be linked to a cost centre).
Contact = (Optional) Select a contact from the dropdown list (e.g. if you service customer’s vehicles, the vehicle can be linked to the customer’s account).
Add any other attributes if required (see Attributes (tab)).
Status = Set the status to Active or similar.
Click Odometer (tab)
1. Type = Select Odometer from the dropdown list.
2. Date = Select the applicable date on the calendar.
3. Reading = Type the odometer reading.
Click Save (button) if is not greyed out.

Navigate to a list of Assets (e.g. Main Menu > Setup > Assets).
Select all the entries you want to update. (Use Ctrl + Left Click to multi-select).
Click Actions (button) > Batch Update and select one of these options from the dropdown list on the left:
1. Contact: Select a contact from the adjacent dropdown list. Click Update (button).
2. Entity: Select an entity from the adjacent dropdown list. Click Update (button).
3. Groups: Select a group from the adjacent dropdown list. Click Add (button) to add the group or click Remove (button) to remove the group.
4. Status: Select a status from the adjacent dropdown list. Click Update (button).
Confirm the action.

How to Add Fixed Attribute Sets

Edit an Asset.
Click Group (button) next to Add and select an available group from the dropdown list (currently only Financial).
Complete the details in the Value column on the right.
Click Save (button).

Custom Attributes can be created from the Menu (button).

Edit an Asset.
Click Attributes (button) next to Add and select one or more attributes from the dropdown list.
Click Select (button).
Complete the details in the Value column on the right.
Click Save (button).

Add the Financial Attributes set. (See How to Add Fixed Attribute Sets.)
Complete the details as follows:
1. Supplier = Select the supplier the asset was purchase from.
2. Purchase Price = Type the VAT exclusive purchase price of the asset if you claimed the VAT back. Else type the VAT inclusive purchase price.
3. Current Value = Type the asset’s current value which could be the current market value or the current value for accounting purposes.
4. Salvage Value = Type the value that the asset will be worth when it is no longer fit for purpose.
5. Depreciation Method = Select a depreciation method from the dropdown list:
  1. Reducing Balance: Depreciation is calculated on the accounting value of the asset. It takes longer to write off the asset. The value of the asset stays in your accounting records for longer.
  2. Straight Line: Depreciation is calculated on the cost of the asset. The accounting value of the asset becomes zero sooner.
6. Useful Life (Years) = Type how many years the asset is expected to last.
7. Monthly Cost = Type the value of the monthly cost. Initially this could be an estimate, or the finance costs. As transactions are captured, you can draw this data from your accounting records and update the value.

Navigate to Assets (e.g. Main Menu > Setup > Assets).
Right-click the asset you want to delete and select Delete from the context menu.
Confirm that you want to delete the asset. If the asset has been used, the confirmation popup displays information about that.
The asset will be deleted and placed in the Recycle Bin.