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The 2018 version of the Fixed Asset Procedure menu by Legler Systems in CA identifies 16 separate fixed asset (FA) computer procedures plus three database procedures (92, 94 and 96) common to all accounting applications. The online accounting procedures the user can run is specified in the User Control Record (DB08). Each end-user procedure shown on the FA menu corresponds to a separate computer program.
Any online fixed asset procedure is started at any time from the Fixed Asset System Menu (screen image shown below) by entering a 2-digit procedure number or single-click on the procedure name with the mouse. For all FA inquiry and reporting procedures, a data selection screen is displayed so the user can enter various data selection parameters to retrieve specific data records from the online Master File and to format the output, including a report sort option. Reporting procedures print accounting information in hardcopy FA reports on letter-size paper, while inquiry procedures display information in a results screen. The FA reports can be viewed in a separate report window before being printed. Active keyboard function keys are shown at the bottom of all FA screens.
Data entry procedure FA01 is used to enter a master record for each fixed asset owned by company, such as vehicles, building and land. Procedure FA01 is also used to enter information on asset disposal or sale. Procedure FA01 supports dynamic linking to procedure DB17 to enter and view NOTES when function key F7 is pressed. To view a sample Asset Master screen, click FA01 screen image.
Report procedure FA02 prints the Asset Master List of active or inactive fixed assets in the FA System, as entered in online procedure FA01. The Asset Master List (FA02) documents basic information on each fixed asset owned by the company. To manually lookup a fixed asset number, the Asset Master List should be sorted by asset name (Alpha-Sort) or name initials. A separate Asset Master Summary report by year purchased, Asset-Group code, Location code and GL account code can be requested and printed when the Entry Correct prompt equals "S".
Update procedure FA03 determines the annual depreciation expense for a specific Book-Code (company, federal or state). Generally, procedure FA03 is run once for each new asset. The Asset Depreciation Report (FA03) is printed for operator verification and audit documentation. A separate Annual Depreciation Expense Summary report by fiscal year can be requested and printed when the Entry Correct prompt equals "S".
Report procedure FA04 prints the Depreciation Expense Report for a specific tax year and Book-Code (company, federal or state) showing the depreciation expense by asset. The remaining balance is shown in the Depreciation Expense Report (FA04). The Depreciation Expense Report (FA04) should be filed with the company's financial papers for audit control. A separate Depreciation Expense Summary report by year purchased, Asset-Group code, GL expense account code and Location code can be requested and printed when the Entry Correct prompt equals "S".
Report procedure FA05 prints the Asset Disposal Report showing obsolete assets that have been sold. Depreciation expense in the year sold, along with any net gain or loss is shown in the Asset Disposal Report (FA05). A separate Asset Disposal Summary report by year sold, Asset-Group code and Location code can be requested and printed when the Entry Correct prompt equals "S".
Report procedure FA06 prints the Asset Valuation Report identifying the estimated current value of assets for insurance purposes. The user can enter an average consumer price index (cpi) rate for estimating the current replacement value, which is shown in the Asset Valuation Report (FA06). A separate Asset Valuation Summary report by year purchased, Asset-Group code and Location code can be requested and printed when the Entry Correct prompt equals "S".
Data entry procedure FA07 is used to enter repair and maintenance expenditures associated with equipment and other assets for management analysis. Equipment schedules are also entered using online procedure FA07. Procedure FA07 supports dynamic linking to the FA01 screen when function key F7 is pressed. To view a sample Maintenance & Repair screen, click FA07 screen image.
Report procedure FA08 prints the Equipment Repair Report for scheduled maintenance service, as entered by online procedure FA07. Also, actual equipment repair expense (equipment failure) is shown in the Equipment Repair Report (FA08) for operator verification. A separate Equipment Repair Summary report by year purchased, year serviced, Service-Type code and maintenance code can be requested and printed when the Entry Correct prompt equals "S".
Update procedure FA09 posts the FA depreciation expense information to the General Ledger System by accounting period (YRMO) and prints the Fixed Asset Posting Report. General Journal Records (GL01) are created in the GL System summarizing total dollar amounts by GL account code when a final Fixed Asset Posting Report (FA09) is printed. The Fixed Asset Posting Report (FA09) should be filed with the company's financial papers for audit documentation.
Inquiry procedure FA10 displays repair information from procedure FA07 for a specific asset, service date range, location or Asset-Group code based on the data selection parameters entered by the user. Procedure FA10 supports dynamic linking to the FA07 screen when function key F7 is pressed. Procedure FA10 can be run at any time to display service and repair information.
Inquiry procedure FA11 displays depreciation expense by year for a specific asset or a group of assets. Computer procedure FA11 can be done at any time.
Report procedure FA12 prints the IRS 4562 Worksheet for a specific tax year to aid in preparing the IRS 4562 form. The IRS 4562 Worksheet (FA12) should be kept with the company's tax related documents for audit control. Computer procedure FA12 is run at the end of the year.
Inquiry procedure FA13 selects and displays Asset Master Records (FA01) based on any text entered by the user. The FA94 search procedure differs from FA13 only in how the results are displayed. Procedure FA13 supports dynamic linking to the FA01 screen when function key F7 is pressed. Computer procedure FA13 can be run at any time.
Update procedure FA14 deletes inactive Asset Master Records (FA01) and old Repair Expense Records (FA07) from the online database or prints just record counts by year. The Purge Control Report (FA14) is printed for audit documentation and includes record counts and the elapsed run time in seconds. Only supervisory personnel should perform this procedure.
Inquiry procedure FA15 displays a results screen showing monthly totals for the last five years of assets purchased, repair expense amount or number of assets. Computer procedure FA15 can be run at any time for management review. A separate Asset Expense Summary by Quarter (3 months) can be requested and displayed when the Entry Correct prompt equals "S".
Report procedure FA16 prints the Scheduled Service Report identifying the equipment or vehicles due for routine preventative maintenance. The Scheduled Service Report (FA16) assists management in controlling vehicle up-time.
Redefine system printer procedure FA92 allows the user to redefine where management reports are to be printed. If a disk file is specified, the FA report is written to a disk file from which it can be displayed in a pop-up report window (92V) and then printed on paper by pressing function key F9. The computer program DBS892 associated with procedure FA92 is the same for all accounting modules. Computer procedure FA92 can be done at any time.
Search procedure FA94 is used to search the FA System for any dollar amount, code value or text in the last x months and display a results screen of the search results along with the database record counts searched and found. Both lowercase letters and uppercase letters are tested to identify a match. The computer program DBS894 associated with procedure FA94 is the same for all accounting modules. This procedure can be started at any time to lookup fixed asset information.
Inquiry procedure FA96 displays a list of the latest Asset Master Record (FA01) or Equipment Repair Record (FA07) in descending chronological sequence by date and time. The computer program DBS896 associated with procedure FA96 is the same for all accounting modules. This online procedure can be started at any time to identify the most recent changes in the FA System.
Exit procedure 99 ends the Fixed Asset System Menu and displays the main Financial Menu. To switch directly to another accounting application, just enter the System-ID plus procedure number, such as GL01, rather than three entries: 99 (end FA menu), GL (start GL menu) and 01 (start Enter General Journal Records procedure).
The FAS Procedure Manual provides complete written user documentation of over 200 pages about all accounting procedures of the Fixed Asset System software by Legler Systems. In addition to the written documentation, the online Help File of all text and error messages (displayed in the Help Message Window when the F1 key is pressed) is included with the FAS executable programs.
For additional information on the FA software and a free demo on USB flash drive for any version of Microsoft Windows, e-mail Bill Legler in the SF Bay Area, California or go to the Fixed Asset System main page.