Guide

Asset

Fixed Asset Module

This is an additional module.

Maintain Asset Group

Menu: Asset > Maintain Asset Group

Group asset items based on the following considerations:

1. Type of assets, e.g., Motor Vehicle, Furniture, etc.

2. GL Account mapping.

   

Asset Group

Field Name	Explanation & Properties
Code	Input the new Asset Group Code. Field type: Alphanumerical; Length: 20.
Description	Input the Asset Group description, e.g., Furniture, Motor Vehicle. Field type: Alphanumerical; Length: 200.
Depreciation Method	Select an appropriate Depreciation Method to generate the depreciation value.
Fixed Asset	Select the Balance Sheet GL Account code for Fixed Asset.
Accum Depreciation	Select the Balance Sheet GL Account code for Accumulated Depreciation.
Depreciation	Select the P&L GL Account for Depreciation of Asset.
Disposal Gain	Select the P&L GL Account for Gain from Disposal of Asset.
Disposal Loss	Select the P&L GL Account for Loss from Disposal of Asset.

Maintain Asset Item

Menu: Asset > Maintain Asset Item

Add new asset items:

Asset Item

Field Name	Field Type	Length	Explanation
Code	Alphanumerical	20	Input the new Asset Item Code.
Description	Alphanumerical	200	Input the Asset Item description, e.g., Meeting Table, Toyota Vios, Perodua MYVI.
Asset Group	Selection	–	Select an appropriate Asset Group for depreciation calculation and GL Account posting.
Agent	Selection	–	Select the Agent using this Asset Item.
Area	Selection	–	Select where the asset is located.
Acquire Date	Date	–	Set the acquire date for this asset.
Cost	Currency	–	Set the purchase cost for this asset.
Useful Life (Years)	Integer/Float	–	Set the useful life of this asset.
Residual Value	Currency/Float	–	Set the residual value for this asset.
Status	Selection	–	Default is Active. Can be set to Inactive with an inactive date.

Depreciation Schedule

1. Select the frequency to generate the depreciation schedule:

   1. Monthly
   2. Quarterly
   3. Half Yearly
   4. Yearly

2. Click the Generate button.

   

Project

Set the depreciation allocation by Project (for departmental/cost center purposes).

History

Add important remarks to the asset history. For example: 1. Who has borrowed/when has returned this asset? 2. Asset has been sent for repair or service... 3. Asset has been destroyed by flood.

Photo

Add an asset photo.

Asset Item Attachments

Add attachments for an asset.

Process Depreciation

Menu: Asset > Process Depreciation

Asset Depreciation

1. Select the process date range:

   Tips:

   1. The process date range allows you to select more than one month or one year to process the depreciation.
   2. Allows you to process BEFORE the system conversion date (No update to Maintain Opening Balance). :::

2. Select the Process Date.

   

   Tips:

   The Journal Voucher date will follow this Process Date.

3. The description will be captured in the Journal Voucher description.

4. Click Process.

5. Preview the asset's depreciation value and Net Book Value (NBV) before posting to the Journal Voucher. Click Save to post it.

   

Open Depreciation

Menu: Asset > Open Depreciation

Open to view the historical Depreciation Listing.

Asset Disposal

Menu: Asset > Asset Disposal

Asset Disposal Entry

1. Click New.

2. Enter Date.

3. Select the asset you wish to dispose.

4. Enter Description.

5. Enter Ref1 (e.g., invoice number).

6. Enter Ref2 (if any).

7. Select Project. Defaults to the Asset Item.

8. Select Agent. Defaults to the Asset Item.

9. Select Area. Defaults to the Asset Item.

   

General Tab

1. Cost, Accum Depreciation, and Net Book Value are automatically retrieved from Maintain Asset Item.

2. Enter the Disposal value.

3. Select the Payment Method to receive the disposal value.

4. The (Gain)/Loss is calculated automatically.

5. The Gain/Loss Account defaults to the one set in Maintain Asset. You may change the (Gain)/Loss Account if necessary.

   

More Tab

Enter a detailed Note.

Asset Disposal Attachments

Add more attachment files.

Print Yearly Depreciation

Menu: Asset > Print Yearly Depreciation

Print Yearly Analysis

Menu: Asset > Print Asset Analysis

Reports Selection

1. This will analyze the asset's Cost, Accumulated Depreciation, Net Book Value (NBV), and Disposal Value.

2. It allows you to choose and generate the following report formats:

   • Monthly (12 Months)
   • Quarterly (4 quarters)
   • Half Yearly (First Half and 2nd Half)
   • Yearly (5 Years)

   

Asset Analysis vs GL Balance Sheet Report

1. At GL > Print Balance Sheet Statement..., choose the Balance Sheet Format: This Year - 3 columns.

2. At Asset > Print Asset Analysis..., choose Report: Yearly (5 columns).

   

Print Asset Disposal Listing

Menu: Asset > Print Asset Disposal Listing

Importing Asset Master List

Preparation for Asset Master Import Excel Template

Download the Asset Master Template.

Asset Master Template (xlsx)

Sheet Name	Refer to
FA.GROUP.OPF	Maintain Asset Group
FA.ITEM.OPF	Maintain Asset Item
FA.ITEM.OPF.DeprSche	Maintain Asset Item – Depreciation Schedule tab
FA.ITEM.OPF.Project	Maintain Asset Item – Project tab

NOTE:

DO NOT rename the sheet name.

1. FA.GROUP.OPF (Maintain Asset Group)

   Column	Length	Note
   Code	20	Asset Group Code, e.g., Furniture.
   Description	160	Asset Group Description, e.g., Furniture & Fittings.
   DeprMethod	1 (Integer)	Depreciation Method, e.g., 1: Straight Line Method.
   AssetAcc	10	e.g., Furniture & Fittings under Non-Current Assets (B/S).
   AccumDeprAcc	10	e.g., Accumulated Depreciation – Furniture & Fittings under Non-Current Assets (B/S).
   DeprAcc	10	e.g., Depreciation account under Expenses (P&L).
   DisposalGainAcc	10	e.g., Disposal Gain account under Other Income / Expenses (P&L).
   DisposalLossAcc	10	e.g., Disposal Loss account under Expenses (P&L).

   • Example:

   Code	Description	DeprMethod	AssetAcc	AccumDeprAcc	DeprAcc	DisposalGainAcc	DisposalLossAcc
   Furniture	Furniture & Fittings	1	200-200	200-205	923-000	530-999	980-999
   MV	Motor Vehicle	1	200-400	200-405	923-000	530-999	980-999

2. FA.ITEM.OPF (Maintain Asset Item)

   | Column | Length | Note |

   |-------------------|-------------|--------------------------------------------------------------------------| | Code | 20 | Asset Code, e.g., FF-0001. | | Description | 160 | Asset Description, e.g., Chairs, Table. | | Asset Group | 20 | Asset Group, e.g., Furniture. | | Agent | 10 | Assigned an agent if any. | | Area | 10 | Assigned an area if any. | | AcquireDate | Date | Purchase date. | | Cost | Currency | Purchase cost. | | UsefulLife | Float | Useful life in years, e.g., 5 years, 3.3 years. | | DeprFrequency | 1 (Integer) | Depreciation frequency options: 1 = Monthly, 2 = Quarterly, 3 = Half Yearly, 4 = Yearly. | | Residual | Float | Re-sellable value. |

   • Example:

   Code	Description	Asset Group	Agent	Area	AcquireDate	Cost	UsefulLife	DeprFrequency	Residual
   FF-001	Chairs	Furniture	----	KL	13/10/2022	12,000.00	10	1 (Monthly)	100.00
   FF-002	Meeting Table	Furniture	----	KL	23/01/2021	15,000.00	10	2 (Quarterly)	0.01
   MV-001	TOYOTA VIOS 1.5 / RED	MV	YUKI	SEL	17/03/2020	88,000.00	5	4 (Yearly)	30,000.00

3. FA.ITEM.OPF.DeprSche (Maintain Asset item-Depreciation Schedule)

   Column	Length	Note
   Code	20	Asset Code, e.g., FF-0001.
   ScheDate	Date	Scheduled depreciation posting date.
   Description	160	Depreciation description.
   Amount	Currency	Depreciation amount based on the depreciation frequency.

   • Depreciation Frequency

   • Monthly

   Calculation	Formula	Result
   No. of Rows	Useful life × 12 months	5 × 12 = 60
   Amount per Row (RM)	(Cost – Residual) ÷ No. of Rows	(88,000 – 30,000) ÷ 60 = 966.67

   • Quarterly

   Calculation	Formula	Result
   No. of Rows	Useful life × 4 quarters	5 × 4 = 20
   Amount per Row (RM)	(Cost – Residual) ÷ No. of Rows	(88,000 – 30,000) ÷ 20 = 2,900

   • Half-Yearly

   Calculation	Formula	Result
   No. of Rows	Useful life × 2 half-years	5 × 2 = 10
   Amount per Row (RM)	(Cost – Residual) ÷ No. of Rows	(88,000 – 30,000) ÷ 10 = 5,800

   • Yearly

   Calculation	Formula	Result
   No. of Rows	Useful life (years)	5
   Amount per Row (RM)	(Cost – Residual) ÷ No. of Rows	(88,000 – 30,000) ÷ 5 = 11,600

   • Example:

   

   • 4. FA.ITEM.OPF.Project (Maintain Asset Item-Project)

   Column	Length	Note
   Code	20	Asset Code, e.g., FF-0001.
   Project	20	Project Code.
   Rate	Float	Allocation percentage (%).

   • Example:

   Code	Project	Rate
   FF-001	Project-A	30
   FF-001	Project-B	70
   MV-001	Project-A	100

Quick Import Asset List

Menu: File > Import > Excel Files

1. Click the Open folder button.

   

2. Select the Asset Template excel file...

3. Click Execute (Direct Import). Click Verify if you wish to verify the excel data before import.

   

   NOTE:

   Asset import function available in SQL Account version 5.2022.948.826 and above.

Generate Asset Opening vs GL Maintain Opening Balance Report

Menu: Asset > Maintain Asset Item

1. At Maintain Asset Item, click the Preview button.

   

2. For instance, the Out of Balance result is obtained by comparing the Asset Opening Balance and the GL Maintain Opening Balance.

   

3. The Asset Opening Breakdown in the report helps you ensure that asset data inputs are correctly recorded in Maintain Asset Item.