How To
Assets with components with different useful lives
CCH Fixed Asset Register
Assets with components with different useful lives
The Fixed Asset Register does not support sub-assets.
If an asset is made up of component assets then each needs to be set up as a separate asset.
The components could be differentiated by asset code eg. PM00002/01, PM00002/02 etc..
A change in the useful life of an asset can be recorded using a Change of Method Movement in Asset Movements
Related documents
Part Disposals
Part Disposals
Changing Entity Type
Changing Entity Type
Asset Movement
The document outlines the functionality of the Asset Movement screen, detailing how asset transactions are recorded in the Fixed Asset Register, independent of CCH Accounts Production. It describes five types of movements: Cost B/Fwd, Addition, Adjustment, Revaluation, and Disposal, each with specific criteria and purposes. The document also covers the protocol for asset movement dates, especially concerning finalized periods, and discusses the Change of Method movement for altering depreciation methods. Additionally, it includes guidelines on how movements affect nominal accounts and the conditions under which movement deletion is permissible.
Asset Classes
The Asset class section is used to define the ledger accounts which must be used for the posting of the asset transactions and the method of depreciation.
Master Asset Classes: Fixed Asset Register
The document outlines the functionality of Master Asset Classes within the Fixed Asset Register's Set Up screen in CCH Accounts Production. These classes provide default settings for client-level Asset Classes and are integral to the CCH chart of accounts versioning system. While Master Asset Classes cannot typically be edited, users can modify them when creating a new Practice Master Pack. Access to Master Asset Classes is through the Set Up screen or the menu path: File > Maintenance > Accounts > Master Asset Classes.