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The latest version of the Fixed Asset System menu from Legler Systems identifies 20 separate fixed asset (FA) computer procedures that can be run by the user, provided the user has access to these online procedures. Access control is specified in the User Control Record (DB08). Each FA user procedure corresponds to a separate computer program.
A sample Fixed Asset System menu screen is shown below and followed by a definition of each user procedure. When only the System-ID (e.g. "FA") is entered on any financial menu, the Fixed Asset System menu is displayed.
---------------------------------------------------------------------------- | FIXED ASSET SYSTEM MENU (2011) 11-02-2011 11:25 | |----------------------------------------------------------------------------| | | | No Procedure Name No Procedure Name | | -- ------------------------------- -- ----------------------------- | | 01 - Enter Asset Master Records 10 - Inquire Repair History | | 02 - Print Asset Master List 11 - Inquire Depreciation Schedule | | 03 - Calculate Depreciation Expense 12 - Print IRS 4562 Worksheet | | 04 - Print Depreciation Expense Report 13 - Process FAS Batch Input | | 05 - Print Asset Disposal Report 14 - Purge Old FAS Records | | 06 - Print Asset Valuation Report 15 - Inquire Asset Expense By Month | | 07 - Enter Maintenance or Repair Data 16 - Print Scheduled Service Report | | 08 - Print Equipment Repair Report 92 - Redefine System Printer | | 09 - Post Depreciation To GL System 94 - Search FA System | | 96 - Inquire Latest FA Changes | | 99 - End FA Menu | | | | Enter FA Procedure Number......[ ] | | | |----------------------------------------------------------------------------| | F1=Help F2=Enter F9=Print F10=Exit | ----------------------------------------------------------------------------
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 can dynamically link to procedure DB17 when function key F7 is pressed.
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.
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. A Control Report (FA03) is printed for verification.
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.
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).
Report procedure FA06 prints the Asset Valuation Report identifying the estimated current value of assets for insurance purposes. The user can enter an average cpi rate for estimating the current replacement value, which is shown in the Asset Valuation Report (FA06).
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 can dynamically link to procedure FA01 when function key F7 is pressed.
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 Report Report (FA08).
Update procedure FA09 posts the FA depreciation expense information to the GL 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 control.
Inquiry procedure FA10 displays repair information from procedure FA07 for a specific asset. 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 upon any text entered by the user. The FA94 search procedure differs only in how the results are displayed. Computer procedure FA13 can be run at any time.
Update procedure FA14 purges old Asset Master Records (FA01) and old Repair Expense Records (FA07) from the online database and is infrequently run by supervisory personnel. A control report (FA14) is printed to document the number of records deleted from the FA System.
Inquiry procedure FA15 displays a window showing the depreciation expense by month for the last 5 years by Asset-Group code or asset number. Computer procedure FA15 can be run at any time.
Report procedure FA16 prints the Scheduled Service Report identifying the equipment or vehicles due for routine preventative maintenance. The Scheduled Service Report (FA16) helps 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 report is written to disk 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 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 window of the search results. The computer program 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 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 FA99 ends the Fixed Asset System menu and displays the main financial menu. To switch to another system procedure, just enter the System-ID and procedure number, such as GL01, rather than FA99.
These fixed asset accounting procedures can be started at any time from any financial menu by entering the System-ID of "FA" plus 2-digit procedure number.
For additional information on the FA software, please e-mail Bill Legler in the SF Bay Area, California or go to the Fixed Asset System main page.