Beginning Balances - Fixed Assets

Prepare the list of open fixed asset balances to transfer to e-automate from your prior software system.

Open the Data Import/Export spreadsheet (DataImportExport.xls).

Click the Settings tab to bring it forward, and enter the appropriate data if it is not already present (see the "Populating the Settings Tab" section of the Using the Data Import/Export Spreadsheet (Overview) topic).

Click the GlAssets tab to bring it forward.

Using the list of open fixed asset balances from your prior software system, populate the AssetNumber, Description, AssetCode, AssetDeprCode, Item, SerialNumber, EquipmentNumber, AcquiredDate, ActivatedDate, DisposalDate, DeprCycle, NextDeprDate, CostOrBasis, PriorYearAccumDeprBook, CurrentYearAccumDeprBook, AccumDeprTax, SalvageValue, MarketValue, RecoveryPeriodBook, RecoveryPeriodTax, Location, Active, Quantity, Warehouse, and Bin columns on the GlAssets tab using this table and the guidelines that follow:

Column Name	Required	Validated	E-automate Use	Acceptable Values
AssetNumber	ü	ü	A unique number to identify this asset.	Alphanumeric text with a maximum length of 32. The import validation prevents duplicate AssetNumber values; e-automate requires each fixed asset to have a unique number. You can enter ‘(Next)’ to have e-automate assign the next available asset number.
Description	ü		Any fixed asset description.	Alphanumeric text with a maximum length of 128.
AssetCode	ü	ü	The asset code associated with this fixed asset. This code identifies the method for depreciating this asset.	Log in to e-automate, and go to Tools > Lists and Codes. E-automate displays the Lists and Codes window. In the Select a list or code type field, use the drop-down menu to select Fixed asset codes. The Asset code column displays the acceptable values.
AssetDeprCode		ü	The depreciation code associated with this fixed asset.	Log in to e-automate, and go to Tools > Lists and Codes. E-automate displays the Lists and Codes window. In the Select a list or code type field, use the drop-down menu to select Fixed asset depreciation codes. The Asset depreciation code column displays the acceptable values.
Item		ü	The item number associated with this fixed asset.	Log in to e-automate. On the e-automate main toolbar, click [Items] to open the Items window. Where the Active column displays Yes, the Item column displays the acceptable values.
SerialNumber	ü Required for serialized assets only.	ü .Validated for serialized e-automate items only.	The serial number associated with this item. If the item is on the equipment list, e-automate identifies the serial number when the equipment record is identified. For non-equipment or non-e-automate items, enter your serial number for the fixed asset.	Alphanumeric text with a maximum length of 30.
EquipmentNumber		ü	The equipment number from the e-automate equipment list. Enter this number only if the equipment is in stock and has a current inventory value.	.Log in to e-automate. On the e-automate main toolbar, click [Equipment] to open the Equipment window. The Equipment number column displays the acceptable values.
AcquiredDate	ü		The date you acquired this fixed asset.	.Any date.
ActivatedDate	ü		The date this fixed asset began depreciation.	Any date.
DisposalDate			The date you disposed of this fixed asset. While you can import fully depreciated assets, this field is typically blank because you usually bring in active current fixed assets to be depreciated.	Any date.
DeprCycle	ü	ü	The frequency with which you depreciate this fixed asset. Typically, depreciation is cycled monthly.	Log in to e-automate, and go to Tools > Lists and Codes. E-automate displays the Lists and Codes window. In the Select a list or code type field, use the drop-down menu to select Billing cycles. The Billing cycle column displays the acceptable values.
NextDeprDate			The start date of the next depreciation period for this fixed asset.	Any date.
CostOrBasis			The original full value associated with this fixed asset.	Any dollar amount. Note: For in-stock equipment, leave this field blank. When you transfer the equipment to a fixed asset warehouse, the value associated with the inventory moves to the fixed asset.
PriorYearAccumDeprBook			When using an accelerated depreciation method, 200% declining balance method or 150% declining balance method, the monetary amount by which this fixed asset has already been depreciated in the fiscal years prior to the DeprCycle date.  Not populated if you are using the straight-line depreciation method.	Any positive dollar amount. Note: You should only enter this value if your AcquiredDate column value is in a prior fiscal year in relation to your DeprCycle column value. Note: The sum of PriorYearAccumDeprBook and CurrentYearAccumDeprBook should be the total accumulated depreciation.
CurrentYearAccumDeprBook			When using an accelerated depreciation method, 200% declining balance method or 150% declining balance method, the monetary amount by which this fixed asset has been depreciated this year. Not populated if you are using the straight-line depreciation method.	Any positive dollar amount. Note: The sum of PriorYearAccumDeprBook and CurrentYearAccumDeprBook should be the total accumulated depreciation.
AccumDeprTax			The amount of accumulated depreciation you have recorded for tax purposes. You can use e-automate to track book and tax separately. E-automate uses this data for informational purposes only.	Any positive dollar amount.
SalvageValue			The amount of value remaining in the asset once you have fully depreciated the asset.	Any positive dollar amount.
MarketValue			The market value of this fixed asset.	Any positive dollar amount.
RecoveryPeriodBook	ü	ü	The number of periods over which you depreciate this fixed asset.	Any integer representing the number of periods.
RecoveryPeriodTax	ü	ü	The number of periods over which you depreciate this fixed asset for tax purposes.	Any integer representing the number of periods.
Location			The location of the fixed asset. Leave this field blank if you enter an equipment number in the EquipmentNumber field for this row.	Alphanumeric text with a maximum length of 128.
Active	ü	ü	An indicator to designate the equipment as active (TRUE) or not active (FALSE).	TRUE or FALSE
Quantity	ü		The quantity of the item you have on hand.	For non-serialized items: any integer. For serialized items: 1. To add multiple serialized items, add multiple rows with a quantity of one, one row per serial number.
Warehouse		ü	The warehouse where the item is currently stored.	Log in to e-automate, and go to Inventory > Warehouses. On the Inventory Warehouses window, the Warehouse column lists the acceptable values.
Bin		ü	The bin where the item is currently stored.	Log in to e-automate, and go to Inventory > Bins. On the Inventory Bin window, sort the bins by Warehouse by clicking the Warehouse column. Scroll through the list of bins to locate the warehouse you identified in the Warehouse cell. Where the Warehouse column matches the warehouse you identified in the Warehouse cell and the Stock type column lists Standard, the Bin column displays the acceptable values.

 

For non-serialized items, enter one item per warehouse per row. You can list multiple rows with the same item and warehouse combination; e-automate adds the quantities to the same item and warehouse. To import quantities of the same item into multiple warehouses, enter multiple rows, one row per warehouse.

For serialized items, enter only one serialized item per row; each row allows entry of only one serial number. To import multiple serialized items for the same item number, enter multiple rows, one row per serial number.

If your other software did not require a bin, assign a bin to each row; e-automate requires each item be stored in a specific bin within a specific warehouse.

If you are using multiple branches, enter fixed assets for one branch only; process a separate import for each branch, entering the appropriate settings on the Settings tab for each import.

Use any available Excel feature (for example, copy, paste, paste special, auto-fill) to transfer this data from your other software to these columns on the GlAssets tab.

Verify the data transferred to the GlAssets tab as expected. If you import dates with two-digit years, Excel converts the dates to four-digit years using your system’s regional date settings.

If you re-arrange, insert, remove, and/or hide any columns when entering the data for import, be sure to restore the original column sequence as listed in Step 5 and unhide the columns before processing the import.

Do not enter any data in—or delete any data from—the Status, Error Message, and Post Action columns; e-automate uses these columns during processing.

Click the [Import to e-automate] button, and follow the steps listed in the "Processing the Import," "Interpreting the Results," and "Reprocessing an Import" sections of the Using the Data Import/Export Spreadsheet (Overview) topic.

To verify the data imported as expected, do the following.

Log in to e-automate.

From the e-automate menu, select Accounting > Fixed Assets > Fixed Assets to open the Fixed Assets window. E-automate displays the imported data.

Prepare the list of fixed assets to transfer to e-automate from your prior software system.

Log in to e-automate.

From the e-automate menu, select Accounting > Fixed Assets > Fixed Assets to open the Fixed Assets window.

Click [New] to open the New Asset window.

In the Number field, enter a unique number (for example, the number assigned to this fixed asset in your prior software system) or let e-automate assign the next available number.

In the Description field, enter a brief description of this fixed asset.

In the Asset code field, use the lookup to select an asset code to associate with this fixed asset. e-automate populates the Depreciation code field with the asset depreciation code associated with the fixed asset code.

In the Depreciation code field, make no change to use the default code displayed or use the Lookup icon to select an asset depreciation code to associate with this fixed asset.

Do ONE of the following:

If this fixed asset is associated with a non-equipment inventory item, do the following:

Use the lookup for the Item field to select the appropriate inventory item.

In the Quantity field, enter the appropriate quantity of this item.

If this fixed asset is associated with an equipment inventory item, do the following:

Use the lookup for the Item field to select the appropriate inventory item.

Use the lookup for the Equipment field to select the equipment record associated with this fixed asset’s serial number if any. If there is not an equipment record with which you want to associate this fixed asset, leave the equipment field blank.

Skip the Quantity field; e-automate sets the quantity to 1 for serialized items.

In the Serial number field, enter this fixed asset’s serial number.
Note: If the serial number for this fixed asset has ever been in stock in e-automate, check the Use system serial number checkbox and use the lookup for the Serial number field to select the serial number.

If this fixed asset is not on your inventory item list, do the following:

Skip the Item field.

Skip the Equipment field.

If this fixed asset does not have a serial number, enter the appropriate quantity in the Quantity field. If the quantity does have a serial number, enter 1 in the Quantity field.

If this fixed asset has a serial number, enter the serial number in the Serial number field.

If your company uses branches, use the lookup for the Branch field to select the appropriate branch.

In the Acquired date field, enter the date you acquired this fixed asset or use the drop-down calendar to identify the date.

In the Activated date field, enter the date you began depreciating this fixed asset or use the drop-down calendar to identify the date.

In the Disposal date field, enter the date you disposed of this fixed asset, use the drop-down calendar to identify the date, or leave this field blank.
Note: While you can import fully depreciated assets, this field is typically blank because you usually bring in active current fixed assets to be depreciated.

In the Depreciation cycle field, use the lookup to select the appropriate depreciation cycle code. Typically, depreciation is cycled monthly.

In the Depreciation period field, e-automate identifies the starting date of the current depreciation period. Make no change to use the date displayed, or override this date by entering a date or using the drop-down calendar to identify the date.

If you want e-automate to track this fixed asset in inventory:

Check the Track asset in inventory checkbox.

In the Warehouse field, use the Lookup icon to select a fixed asset warehouse.

In the Bin field, use the Lookup icon to select a bin within the fixed asset warehouse.
Note: If this item is in inventory but is not in a fixed asset warehouse, you must transfer the item to a fixed asset warehouse and bin using a fixed asset transfer. When you complete the transfer, e-automate checks the Track asset in inventory checkbox and populates the Warehouse and Bin fields.

In the Tax column’s Accumulated depreciation field, enter the amount you have depreciated for tax purposes.

In the Book column’s Recovery period (months) field, verify the recovery period assigned by the fixed asset code. Change the period if necessary.

In the Tax column’s Recovery period (months) field, enter the period you are using for tax depreciation.

In the Salvage value field, enter the expected value of this fixed asset upon complete depreciation.

In the Market value field, enter the estimated market value of this fixed asset upon depreciation.

In the Location field, enter location information.
Note: You can only enter location information for fixed assets not associated with equipment records.

Click [Beginning balances] to open the Asset Beginning Balances window.

Check the Enter beginning balance information for this asset checkbox.

Do one of the following:

If you are entering prior year and current year balances, do the following:

In the Prior balances region, do the following:

In the Cost basis field, enter the original cost or basis value for this fixed asset.

In the Accumulated depreciation field, enter how much depreciation accumulated for this asset in the prior accounting year.

In the Account field, use the Lookup icon to select the appropriate account.

In the Current year balances region, do the following:

In the Accumulated depreciation field, enter the accumulated depreciation for the asset for this year.

In the Account field verify e-automate entered the correct account. You can change this account as necessary.

If you are entering current year balances only, do the following in the Current year balances region:

In the Cost basis field, enter the original cost or basis value for this fixed asset.

In the Accumulated depreciation field, enter the accumulated depreciation for the asset for this year.

In the Account field, use the Lookup icon to select the appropriate account.

Click [OK] to save your beginning balance information.

Click [OK] to save the new fixed asset.