How to Generate Fixed Asset Listing

Overview:

The Fixed Assets Listing report provides a detailed overview of all fixed assets recorded in the system. It tracks asset purchases, depreciation, useful life, and residual values. This report is essential for financial reporting, compliance, and asset management.

Scenario:

Your finance team is preparing for the year-end audit and needs a consolidated report of all assets purchased in the last quarter. The report must show each asset’s cost, accumulated depreciation, and residual value to ensure accuracy and compliance.

Solution:

1. Navigate to Fixed Asset Listing. Go to Reporting > Report Center > General Ledger > Fixed Assets Accounts > Fixed Assets.

2. In the Report Criteria window, configure:

• Purchase Date – Select the period to include assets purchased within the date range.

• Code – Narrow results by specific asset code (optional).

• Asset Type – Choose categories (e.g., Office Equipment, Vehicles).

• Status – Filter by Active, Disposed, or All Assets.

• Project – Include All Projects, No Project, Main Project, or Sub Project.
  

3. Click Preview to generate the listing.
 

4. The report will display key columns:

• FA Code – Unique code assigned to the asset.

• FA Description – Description of the asset.

• Asset Type – Classification (e.g., Air-Conditioners, Computers).

• Purchase Date – Acquisition date of the asset.

• Purchase Price – Original acquisition cost.

• Depr Start Date – Date when depreciation starts.

• Accum. Depreciation (Total) – Total depreciation recorded to date.

• Useful Life – Expected lifespan in years.

• Residual Value – Remaining value after full depreciation.
   

Application:

• Capital Planning: Review acquisition costs and net book values to plan future investments in equipment and infrastructure.

• Depreciation Management: Track accumulated depreciation and useful life to ensure accurate expense recognition and timely adjustments.

• Disposal Monitoring: Identify disposed or fully depreciated assets to support derecognition and calculate gains or losses.

• Audit & Compliance: Provide auditors and finance teams with a transparent register of assets, including purchase dates, depreciation methods, and residual values.

• Asset Stewardship: Strengthen accountability by grouping assets by branch, category, or location to support maintenance planning and internal controls.