Grouping Assets

You can use asset groups and sub-groups to organize your fixed assets into logical groups. For example, if you have acquired assets for a specific project you can group them together in a Project group. You can then record accumulated depreciation for the Project group in the general ledger.

You can create depreciation books at group or sub-group level. This allows you to easily apply the same depreciation rules to fixed assets that are added to the group or sub-group. When a fixed asset inherits a depreciation book from its group or sub-group, a copy of the book (prefixed with 'Copied_') is linked to the asset.

Note:

Your administrator must enable the Inherit Values from Parent field in the Fixed Asset Management Batch Settings custom setting if you want fixed assets to inherit depreciation books from their group or sub-group, and if you want to use the Push to Assets button described below.

Pushing to Assets

When you create a new depreciation book at group or sub-group level, you can automatically copy the book to related assets within that group or sub-group. To do this, click Push to Assets on the depreciation book detail page.

When you edit an existing depreciation book at group or sub-group level, you can automatically apply the changes to copies of the book linked to related assets within that group or sub-group. To do this, click Push to Assets on the depreciation book detail page. If the changes mean that an asset's depreciation schedules need to be regenerated, a message informs you that it is necessary to regenerate depreciation schedules for one or more asset level books. Changes to an accounting depreciation book are not pushed if the accounting depreciation book at asset level contains active depreciation schedules.

Upon completion, the Push Results page lists the assets that were successfully updated and any that could not be updated.

Tip:

You can quickly regenerate depreciation schedules for multiple asset level books within a group or sub-group by displaying the Fixed Asset Batch Jobs tab and clicking Generate Depreciation Schedules. For more information see Generating Depreciation Schedules for Multiple Assets.

Notes about Inheritance of Depreciation Books

  • A fixed asset inherits depreciation books from its sub-group unless there are no books at the sub-group level, then it inherits depreciation books from its group.
  • If a fixed asset has inherited a book from its group, and you then push a new book from its sub-group, the asset inherits both books.
  • A sub-group does not inherit books from its parent group.