Asset Financials

Asset Financials

Assets Financials   

In the Financials tab, you can monitor the asset expenses. The following subtabs are displayed here:
Costs: View expenses such as purchase cost and operational costs.
Depreciation Details: View/configure the asset-level depreciation for the asset.

Info
Product-level depreciation cost can only be configured under Admin > Customization > Asset Management > Product.  

Costs

The purchase cost added for the asset under Admin will be displayed here.
Click Add Cost to add expenses such as operational costs and disposal costs to the asset.
 
Based on the purchase cost and additional costs, the total cost of ownership is automatically calculated and displayed. The current book value is displayed based on depreciation.  

Info
After you configure depreciation, the updated Current Book Value may take some time to appear on the cost tab due to background processing.

Depreciation 

You cannot configure depreciation for software and consumables. Product-level depreciation can only be configured under Admin.
 
You can configure asset-level depreciation by clicking Configure Depreciation. You can also configure depreciation from the Actions drop-down on the toolbar.
 
In the Configure Depreciation pop-up, enter the following:
  1. The purchase cost and acquisition date added during asset creation will be populated here. If they were not added earlier, specify them now. These fields are mandatory.
  2. Choose a depreciation method:
    1. For Declining Balance and Straight Line, you can calculate depreciation based on the useful life of the asset or the decline percent per year.
    2. For Double Declining Balance and Sum of the Years Digit, you can calculate depreciation based on the useful life only.
  3. Fill out the following:
    1. Useful Life: Enter the life span of the asset in months. For the Sum of the Years Digit method, specify the useful life in years.
    2. Decline Percent: Enter the depreciation percentage.
    3. Salvage Value: Enter the total net worth of the asset after it has exhausted its useful life span.
  4. Click Save.
 

Generate Cost Details in Reports

The cost details can be generated in the reports. Include Purchase cost, Operational cost, Total cost, and Current Book Value columns in the report. For Summary reports, include Cost Details from the available subreports.

Cost Details in Assets List View

Cost Details of an asset can also be viewed in the assets list view. Add Operational Cost and Current Book Value columns to the assets list view using the icon. The Purchase Cost column is present by default.