Create an asset class

1. Go to the Fixed asset classes (FA201000) window.
2. Click .
3. In the Asset class ID field, type the unique identifier for the asset class.
4. Optional: Select the parent class for the asset class you want to add.
5. In the Description field, briefly describe the class.
6. If you want to make the class available when users add assets, select the Active check box.
7. If you want to give the new assets of the class the On hold status, select the Hold on entry check box.
8. On the General settings tab, perform the following steps:
   1. In the Asset type field, select the asset type of the assets of the class.
   2. If the class is to be associated with tangible assets, the Tangible check box will be selected by the system automatically. Otherwise, it will be cleared.
   3. In the Useful life, years field, specify the useful life of assets of the class in years.
   4. To use accelerated depreciation for the assets of the class, select the Accelerated depreciation for Straight line deprec. method and Dutch method 2 check box.
      This setting will be applied to all the books of the class that use the straight line depreciation method.
9. On the Depreciation settings tab, define the list of books available for the assets and the depreciation settings for those books.
   Do one of the following:
   • For every book that may be associated with the assets of the class, perform these steps:
     1. In the Useful life, years column, specify the useful life of the assets of the class in years for the selected book.
     2. In the Class method column, select the depreciation method to be used to report asset depreciation in the selected book.
     3. In the Averaging conversion column, specify the averaging conversion for the selected depreciation method.
        
     4. If the assets of the class are to have a bonus, select the Bonus check box.
   • For every book that should not be available for the assets of the class, perform these steps:
     1. Select the book in the table.
     2. Click Delete row.
10. On the General ledger accounts tab, specify the default general ledger accounts and subaccounts to be used to record transactions of the assets of the class.
11. Click .