Creating and Managing Asset Records

Overview

The Asset Record stores all physical and financial details for a building, including serial numbers, dimensions, colors, pre-tax value, and depreciation schedules.

Navigation & Step-by-Step Instructions

  1. Accessing Asset Entry
  • Asset records can be created during Contract Entry or directly through the Assets menu.
  1. Entering Asset Identifiers
  • Primary ID: Enter the building's Serial Number.
  • Secondary ID: Enter an optional Stock Number.
  • Invoice / Order Number: Enter an optional invoice or order number for tracking purposes.
  1. Configuring Asset Specifications
  • Dimensions: Enter Width first and Length second (e.g., 10x16).
  • Style & Colors: Select the roof style, trim style, and color preferences. Typing a new color or style into the field automatically saves it to the dropdown list for future selection.
  1. Purchase Date & Asset Value
  • Purchase Date: Enter the date the building is brought onto the books.
  • Shortcut: Type T in the date field to automatically populate today's date.
  • Asset Value: Enter the pre-tax cost or value of the building.
  1. Configuring Asset Depreciation
  • Depreciation Method: Straight-Line Depreciation is assigned automatically by default based on the contract length.
  • Depreciation Start Date: Leave this field blank to automatically reference the contract start date once the asset is assigned to a contract.
  • To manually adjust or recalculate depreciation, check the Override box, update the schedule, and refresh cash book depreciation.
  1. Tracking Stock Assets
  • Buildings entered into the system without an active contract are categorized as Stock Assets.
  • Stock Assets appear in stock building reports and dropdown lists, ready to be linked when a new contract is created.