Page Comparison - Configuring the asset register settings (v.4 vs v.5) - PS Help: Client Accounting Help

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You must configure the Financial year details for the first year of the asset register. The financial year is a 12-month period.

The financial year details for an asset register cannot be edited in successive years.

can specify Asset Register settings for financial year details and how to calculate taxation and accounting depreciation for each client separately. These settings are saved for subsequent years.

You can only edit the Asset Register's financial year details in the year it was created so make sure these details are correct before rolling forward to a new year.

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The examples in this help use an AU system. The same information applies for NZ, but you may see or use some different options or details.

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How to configure the asset register

To specify Asset Register settings

Open

Click the

client’s

Client Accounting

> Assets

> Asset tab.

See Accessing an asset register. The Asset Register is displayed.

Click Register settings on the Tasks bar. The Register settings window opens.

Select the

On the TASKS bar, click Register settings.
In the Register Settings window, from the Start month drop-down, select the appropriate start of the financial year.
The end month is automatically calculated 11 months from the

Start

start month

drop-down

.
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You can only change the financial year details if no asset year has been created

, i.e., when

(the asset register status is blank

. If the asset year has already been created then the Start month and End month fields are read only.

The End month is automatically calculated 11 months from the start month.

Select the type of depreciation calculation by ticking the relevant checkbox:

Taxation only

Accounting

).
Select the checkbox to indicate the depreciation calculation:
- Taxation only
- Accounting only
- Accounting and Taxation

.Select whether the asset register will Integrate

If you wish to integrate the Asset Register with the supported general ledger

by ticking the checkbox.
If you are in non-integrated mode, the

, tick the Integrate with the supported general ledger checkbox

will not be available

.
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You can also use the asset register in non-integrated mode, i.e., it does not have to be integrated with a general ledger

If you previously used the Asset Register in without general ledger integration, the Integrate with the supported general ledger checkbox is not available.
Select what entries will be generated from depreciation calculations. If the type of depreciation calculation selected is:

Taxation only, then depreciation

Depreciation calculation then...
Taxation only Depreciation calculations will generate taxation entries automatically
Accounting

only, then depreciation

only Depreciation calculations will generate accounting entries automatically
Accounting and Taxation

, then the default will be to calculate depreciation for taxation but you can change this to accounting.

Select from either Accounting or Taxation depreciation journals you want posted back into Trial balance view or Workpaper Period.
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Click OK. Changes are saved to the