startBuying and Selling Assets
How To

Buying and Selling Assets

CCH Fixed Asset Register
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Fixed Assets

    Buying a new asset

    When an entry in CCH Accounts Production debits an Additions account for an asset class held in the Fixed Asset Register, an Analyse in Fixed Asset Register? message appears.

    Answer No to continue to the next data entry, leaving the nominal ledger out of sync with the additions in the Fixed Asset Register.  You can go into the Fixed Asset Register later to reconcile them.

    Answer Yes, then a new tab opens, being the Asset screen in Fixed Asset Register to add the new asset. Add the Asset and, upon clicking Save, you are taken to the Asset Movement screen to create the Addition entry.

    The Movement defaults to Addition. The Date, Description and Value all default to the values in Accounts Production.

    It could be that the entry does not represent a single new motor vehicle. It could represent multiple assets. In either case, you can use the Fixed Asset Register to make the necessary changes.

    When work is complete, close the Fixed Asset Register tab to continue with data entry in CCH Accounts Production.
     

    Selling an asset

    When an entry in Accounts Production credits a Disposal account for an asset class held in the Fixed Asset Register, an Analyse in Fixed Asset Register? message appears.

    Answer No to continue to the next data entry, leaving the nominal ledger out of sync with the disposal proceeds in the Fixed Asset Register. You can go into the Fixed Asset Register later to reconcile them. In this case, the P/L on Disposal account in the nominal ledger may relate to more than one Asset Class, but the system can still detect that the balances disagree with the Fixed Asset Register.

    If you answer Yes, then a new tab opens showing the Fixed Asset Register.

    If the P/L on Disposal account  relates to only a single Asset Class then you are taken into that Asset Class to select the asset that was sold. On selecting the asset, the system automatically takes you into the Asset Movement screen to complete the entry.

    If the P/L on Disposal account  relates to multiple Asset Classes, you are taken into the Asset Summary screen to select the Asset Class before you can select the particular asset. But otherwise the process is the same.

    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.