Creating a Fixed Asset or Prepaid Expense Item

Screen ID: 

Screen Title: 

 

Panel Number:

images\kb_closed_shg.gif

PFAITM-02

Fixed Asset Item Creation
or
Prepaid Expense Item Creation

1125

images\1125g_shg.gif
Click here to magnify

This screen will appear when you choose one of the following Subsidiary Types on the initial subsidiary creation screen: FA, BA, LA, LI or PE.

This the first of several screens used to create a Fixed Asset or Prepaid Expense item. Notice that the fields and field names are slightly different between the two subsidiary types:

This first screen is used to enter all of the basic information about the subsidiary item, including a description and cost. When done entering all data, use Enter to proceed to the subsidiary item detail screen (or the pre-existing item screen, if the Pre-Existing flag is checked).

Field Descriptions

Field Name

Description

Corporate ID

Enter the corporation number for this item (usually 01).

Description

Enter a description of the item.

NOTE FOR FIXED ASSETS: If this record is being created to represent multiple items, enter a generic description. Separate descriptions can be recorded for each individual item, if desired, using the Fixed Asset Serial Number/ID Tags screens.

  • For example, this description could read “Office Chairs” and the individual descriptions could later be changed to “Office Chair - Receptionist,” “Office Chair - Accounting Dept.” etc.

Invoice/Total Cost

(For Fixed Asset types only.) Enter the total cost for all of the items included in this record. The system will divide this amount by the Quantity to obtain a Unit Cost on the next screen.

  • For example, if this item represents five identical chairs, enter the total cost of all five chairs, including tax or shipping or any other charges as desired.

Quantity

(For Fixed Asset types only.) Enter the total quantity of items included in this record, up to a maximum of 210. 

  • For example, if this record is for five identical office chairs, enter “5” in this field.

Tag #s

(For Fixed Asset types only.) Check this box if you wish to require a tag number to be assigned to this fixed asset item. (A corresponding tag number would then be affixed to the physical item.) Choose No if a tag number is not required.

Assigned Category

This optional field lets you enter a configured category code number to classify this item for reporting purposes. Click the lookup button 3 to see a list of your credit union's configured codes.

SEE ALSO: Configuring Category Codes

Assigned to Branch #

Enter the branch (location) number to which this item is associated.

Assigned to Department

This optional field lets you enter a configured department code number to associate a credit union department with this item. Click the lookup button 3 to see a list of your credit union's configured codes.

SEE ALSO: Configuring Department Codes

Vendor Code

If a vendor code has been configured for the vendor of this item, enter it here. Click the lookup button to see a list of your credit union's configured codes.

If no vendor code has been configured, use the Vendor Description field instead. An entry in one of these fields is required.

Vendor Description

This field can be used for the vendor name, even if a vendor code has been entered. However, if the Vendor Code field is empty, this field is required.

Pre-Existing

Place a checkmark in this field if setting up a fixed asset item which has already been depreciated or a prepaid expense record that has already been expensed on your credit union records. When Enter is used, you will proceed to the pre-existing setup screen to record expense amounts already booked for this item.

Leave the box blank if setting up a new record. When Enter is used you will proceed directly to the subsidiary item detail screen.

 

Link to ID: https://help.cubase.org/cubase/cubase.htm#PFAITM-02.htm