Slide 1

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This is an introduction to the IES Fixed Asset Register.

A Fixed Asset Register is essentially a list of Assets

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A Fixed Asset Register is most easily understood as a list of Asset Items.

A list of Assets?

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There are many examples of Items that can be Fixed Assets.

Slide 4

Slide notes: It is important to be able to manage the Assets in an orderly manner, for example by organizing them into Groups.

Slide 5

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Therefore, all Trucks may belong to a Group called Trucks.

Slide 6

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And there can be any number of Groups, all determined by the local Asset list.

Slide 7

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There may also be some affinity between certain Groups of Assets, and therefore we have the concept of Master Groups, which can each include a number of Groups.

Slide 8

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For example, various Groups for different kinds of Vehicles may all belong to the same Master Group called Vehicles.

Slide 9

Slide notes: And there can also be sub-groups within Groups.

Slide 10

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So every Asset has a good home.

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In some cases, an Asset can expand during it's lifetime in the Asset Register.

For example, that BOILER in the Factory …

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And that Harvesting Machine …

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Therefore, an Asset Master has a ‘multiple Item’ capability

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Therefore, there is provision for an Asset Master Item to include more than 1 Asset Item, i.e. a number of children Asset Items may belong to a single Asset Master Item.

Each Asset is an intelligent Account

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Each Asset is managed in the system as a unique Financial Account, and with it's own Depreciation Cycle.

Sometimes, the reality is that: -

Slide notes: Also, in reality an Asset sometimes needs multiple views, because the Primary View may not necessarily be correct for Tax Purposes nor for Shareholder Purposes.

Therefore, the IES Fixed Asset Register includes multi-dimensional Financial Management

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Therefore, the Asset Register can be managed multi-dimensionally, with Primary, Tax and Forex values and views.

An example of that Car -

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Here we have an example of a Car that is depreciating differently in the Accounts than it is for Tax classification, and it also has a different Linked Currency view.

The Fixed Asset Register has Asset Management objects -

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For easy management of the Asset Register, all Assets use Asset and Depreciation Codes, which makes it easy to make changes with regards to Depreciation and Disposal policies, since a quick change on an Asset Code can have a sweeping effect for hundreds of different Assets.

The Fixed Asset Register is managed as a Sub Ledger

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The Asset Sub Ledger is fully integrated to the General Ledger in real-time, and in perfect harmony and balance with the GL.

The Asset Register is fully and automatically integrated and is always in Balance with the GL

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The Asset Control Accounts in the GL reflect the totals and the detail for the Asset Transactions in the various Asset Groups.

Slide 22

Slide notes: So everything is arranged for easy and flexible management of Fixed Assets in IES.