Set Options

NL Company ID

The company code for Nominal Ledger linked to Fixed Assets. It is only enabled if you have chosen to link Fixed Assets to the Nominal Ledger by ticking the Fixed Assets to Nominal box on the Company Profiles form. You can link Fixed Asset to the same company's Nominal Ledger or to a different company's Nominal Ledger.

Note: To link to a different company's Nominal Ledger, the Cost Centres in Nominal option in both the Fixed Asset company and the Nominal Ledger company must both be either ticked or not ticked.

Number of Periods

The number of financial periods in the year. If Fixed Assets is not linked to the Nominal Ledger, you can enter the number of periods here. If Fixed Assets is linked to the Nominal Ledger you can change the number of periods on the Set Options form in the Nominal Ledger.

Current Period

This is the current Fixed Assets period number. Enter '1' to use Fixed Assets at the start of the year, otherwise enter the relevant period number. If Fixed Assets is linked to the Nominal Ledger, you can change the current period on the Set Options form in the Nominal Ledger. This is automatically incremented each time the Period End in Fixed Assets is run.

Current Year

This is the current year in Fixed Assets. This is automatically incremented when the Period End command is run in the last period in Fixed Assets. If Fixed Assets is linked to the Nominal Ledger, you can change the current year on the Set Options form in the Nominal Ledger.

In N/L

If Fixed Assets is linked to a Nominal Ledger, the In N/L box displays the current period and year in the Nominal Ledger.

Disposed Asset Keep

The number of years you want to keep disposed asset records. At the end of the specified number of years, disposed asset records are removed when you run the last Period End of the year.

Depreciation Weighting

Equal Per Period: Depreciation calculated per period will be the same regardless of how many days there are in each period. For example, an asset will depreciate by the same value in a 30 day period as it does for a 50 day period.

Days In Period: Depreciation calculated for a period depends on the number of days in it. For example, an asset will depreciate twice as much in a 60 day period as it does in a 30 day period.

Note: Depreciation weighting applies to Straight Line Amount and Straight Line Percent depreciation methods.

Nominal Ledger Accounts

If Fixed Assets is linked to the Nominal Ledger, the Balance Sheet Suspense, Profit and Loss Suspense, Revaluation Reserve, and Revaluation Expense accounts must already be set up in the Nominal Ledger Accounts command. Some accounts must be set up as Balance Sheet accounts, others as Profit and Loss accounts. See the Nominal Ledger Types Help topic for details. If Fixed Assets is not linked to the Nominal module, these account boxes can be used for analysis and reporting purposes in Fixed Assets.

Balance Sheet Suspense

This account must be a Balance Sheet account. It is used only if an invalid Balance Sheet account is found when the Nominal Ledger is updated.

Profit and Loss Suspense

This account must be a Profit and Loss account. It is used only if an invalid Profit and Loss

account is found when the Nominal Ledger is updated.

Revaluation Reserve

This account must be a Balance Sheet account. If Fixed Assets is linked to the Nominal Ledger you must enter a Revaluation Reserve account to do asset revaluations.

Revaluation Expense

This account must be a Profit and Loss account. If Fixed Assets is linked to the Nominal Ledger you must enter a Revaluation Expense account to do asset revaluations.

Use Cost Centres

If you do not use the Nominal Ledger, or Fixed Assets is not linked to the Nominal Ledger, you can select this option if you want to use cost centre analysis in Fixed Assets. The cost centre maintenance form is then enabled on this form's Action menu.

Using Cost Centres allows an asset to belong to different departments and have its depreciation apportioned accordingly. If Fixed Assets is linked to the Nominal Ledger, the use of cost centres is controlled by the Cost Centres in Nominal option on the Company Profiles form in the System module.

Use Locations

This option allows assets to be 'allocated' to different locations. This means you can keep track of asset records at particular locations (for example, buildings, factories, or offices) using the reports in Fixed Assets. If selected, you can create locations in the Locations command.

Post Disposal Journal to N/L

This option is only enabled if Fixed Assets is linked to the Nominal Ledger. If the option is ticked the Nominal Ledger is updated when assets are disposed or part-disposed in Fixed Assets.

Next Asset Number

New asset records can be automatically numbered starting from the number you enter in this field. You can include letters in the field but the last four characters must be numeric in order for the system to be able to assign a new number. If you leave this field blank you can specify your own numbers when you create assets.