Fixed assets - overview

In Visma.net ERP, if your company has acquired new assets, you can quickly convert these items into fixed assets.
The acquisitions can be converted as separate assets or as components of an existing asset.
Alternatively, you can add a fixed asset by entering the required information manually.
For more information, see: About fixed asset entry

You can configure fixed asset classes, which let you group similar fixed assets for processing and reporting.
Once you assign a new asset to a specific class, the default values from the class are automatically filled in, streamlining the creation of the fixed asset. Many essential settings, such as the asset's useful life, the depreciation method, and the depreciation books that can be used to depreciate the asset, must be defined for a fixed asset class.
For more information, see: Fixed asset classes (FA201000)

While creating a new fixed asset or fixed asset class in the system, you have to specify the type of the asset.
In Visma.net ERP, a list of predefined fixed asset types is available.
This list contains such items as Building, Computers, Copyrights, and Equipment.
If additional asset types are required, you can create new asset types that meet your business needs, and define each type as describing tangible or intangible assets.
For more information, see: About fixed asset types

You can create a fixed asset hierarchy by selecting parent classes for fixed asset classes and associating fixed assets with parent assets.
The hierarchy is implemented only for informational purposes.
For example, nothing happens with the asset component if its parent asset has been disposed of.
For more information, see: About fixed asset hierarchy

The depreciation method determines the way the cost of an asset is allocated over the asset's useful life or its lifetime production of units (generally used for machines or other assets for which time is not the best measure of depreciation).
In addition to the standard depreciation methods, you can configure your own ones.
For the same asset, different depreciation methods can be used for financial reporting and VAT reporting.
For more information, see: About depreciation configuration

Visma.net ERP provides a number of built-in averaging conventions to be used for calculating depreciation for the financial periods within which an asset was acquired or disposed.
You can select the averaging convention that suits the specific depreciation method.
For more information, see: About averaging conventions

You can automate depreciation calculations for all types of assets by creating schedules for depreciation.
You can run these schedules for a particular asset or for multiple assets.
If needed, you can suspend the depreciation of specific assets for an unspecified number of periods.
For more information, see: About depreciation of fixed assets

By using Visma.net ERP, you can transfer the assets between branches one by one or in bulk.
For more information, see: About managing transfers of fixed assets

By using the Fixed assets workspace, you can also do the following:

• Create custom depreciation methods
• Schedule depreciation
• Easily track fixed assets by branch, department, and custodian
• View the depreciation history of an asset in multiple ways and change the views at any time
• Use a wide variety of fixed-asset reports that provide accounting and management information
• Assign multiple depreciation books (for example, one for VAT reporting and one for financial management) to the fixed assets
• Split and transfer assets
• Delete empty transaction documents