Fixed Assets Items

Fixed assets items - introduction

You can define fixed assets items in the module Fixed Assets → FA Items in the online accounting program mKsiegowa.pl

You can register:

  • fixed asset (środek trwały)
  • intangible fixed assets (wartości niematerialne i prawne)
  • equipment (wyposażenie)

Operation

At the top of the form, you can search for an item in the file by entering the code in the field Select an item: (each fixed asset is marked with a unique identifier). The program tries to find a code that contains the entered string. You can also search for an item in the catalogue using the selection list.

When you find the desired fixed asset, you can move to the next field with the key Tab. Then all data of this item will appear on the screen. After modifying the data, click the Update Item at the bottom of the page.

Filter the Fixed Assets List

The item search works differently when in the Company Setup the option Search Item List is selected. In the field Select an item: enter a fragment of the name and press the key Enter. The program filters only those items whose names contain a given string of characters.

It should be noted that in the normal version (option Search Item List not selected), the program searches only codes of fixed assets, and if this option is selected, the program also searches the names of fixed assets.

Item fields

The program allows you to register, among others:

  • Category
  • Units of Measure
  • Editable description - if checked, you can change the item description on a fixed asset sales invoice
  • Fixed Asset Class
  • Depreciation method, depreciation rate and depreciation start date; see how to calculate the depreciation
  • accounts to which depreciation is posted:
    • Sales Account - (used to post the FA Inventory document); you will find the method of posting this document in the description of the fixed asset sales invoice
    • Asset Account - Fixed Asset Accounting Analytical Account
    • Depreciation Cost Account - fixed assets depreciation costs are posted to this account
    • Depreciation/Disposal Account - account used for the depreciation of fixed assets (credit party) and for the disposal/sale of the fixed asset (debit party)

View fixed asset transactions and depreciation

There are tabs in the file that allow you to view the transactions (purchase, sale) and depreciation of the fixed asset.

Add a new asset to the items

If you want to enter a new fixed asset, then in the top line of the selection list you should find the item (if it is not displayed yet) New item.

After entering the parameters of the fixed asset, click Insert New Item at the bottom of the screen.

Add an Asset in the Opening balance mode

After checking the field Opening balance mode, the program allows you to enter a fixed asset that was previously in the records and only now is entered into the mKsiegowa program.

After selecting this option, the program allows you to enter the value and purchase date as well as the current value of the fixed asset.

Note: The program doesn't create postings in the opening balance mode. It is necessary to enter postings of the opening balance at the same time to the appropriate accounts associated with this fixed asset.

The fields are entered as follows:

  • In the Depreciation Period field, enter the total depreciation period.

  • In the Depreciation Start field, enter the date when depreciation should begin in this program.

  • In the Purchase Value field, enter the total value of the fixed asset.

  • In the Current Value field, enter the current value as of Depreciation Start date.

View Depreciated (Inactive) Items

Depending on the method of use, fixed assets are divided into:

  • active - used by a business in its business operations,
  • inactive - fully depreciated, withdrawn from the use due to the loss of economic usefulness as a result of, for example, a business type change, damage, wear or sale.

Inactive fixed asset items are not visible on the selection list, because their status has been set by the program to Inactive.

To display all items (active and inactive), select the option Show inactive.

Delete items

A newly created item can be deleted only if no document has been entered for the item yet.

Even if the documents entered for that item have been deleted, it may not be possible to delete the item. In this case, you should change the item status to Inactive at the bottom of the screen.

The item will then not appear on lists or statements, but it will allow the database to function properly.

To reactivate an item, at the top of the form, select the option Show inactive.