SECTIONSAsset Group Fields
An asset group is a logical group of assets. For instance, an asset group in an organization might be Computer Equipment, which is further classified into sub-groups of laptops, monitors, printers and servers. Here is a description of the fields on an asset group
Key: * – Mandatory field; A – Only available if Fixed Asset Management is integrated with Accounting in your organization.
| Field Name | Description | |
|---|---|---|
| Asset Group Name | * | Name of the Group |
| Accumulated Depreciation GLA | A | Lookup to the accumulated depreciation general ledger account that relates to the asset group. This general ledger account is used to reduce the value of the asset on the balance sheet and is credited throughout the depreciation schedule. When the asset is disposed of, the account is debited to write off the depreciation value. This field enables you to automatically populate the corresponding Accumulated Depreciation GLA field while creating a new asset in the asset group. |
| Accounting Company | A | Lookup to the Accounting company that relates to the asset group. This ensures that transactions are associated with the correct accounting company when your org has more than one accounting company. This field enables you to automatically populate the corresponding Accounting Company field while creating a new asset in the asset group. |
| Depreciation GLA | A | Lookup to the depreciation general ledger account that relates to the asset group. This is the general ledger account to which depreciation is charged for the profit and loss account and is debited during the depreciation schedule. This field enables you to automatically populate the corresponding Depreciation GLA field while creating a new asset in the asset group. |
| Fixed Asset GLA | A | Lookup to the fixed asset general ledger account that relates to the asset group. This general ledger account is debited when the asset is acquired and credited when the asset is disposed of. This is normally a balance sheet account. This field enables you to automatically populate the corresponding Fixed Asset GLA field while creating a new asset in the asset group. |
| Payment GLA | A | Lookup to the payment general ledger account that relates to the asset group. This general ledger account is credited when the asset is acquired. This is normally a balance sheet account. This field enables you to automatically populate the corresponding Payment GLA field while creating a new asset in the asset group. |
| Asset Disposal Profit and Loss GLA | A | Lookup to the profit and loss general ledger account that relates to the disposal of assets in the asset group. This general ledger account is debited when an asset is disposed of to write off its remaining value. This field enables you to automatically populate the corresponding Asset Disposal Profit and Loss GLA field while creating a new asset in the asset group. |
Related Lists
Depending on the page layout your administrator has chosen, the Asset Group Detail page contains related lists that show the Asset Sub Groups, Fixed Assets and Depreciation Books related to the asset group.