How To
Creating a Fixed Asset Register
CCH Fixed Asset Register
The Fixed Asset Register is generated from within CCH Accounts Production. Open an Accounting Period in CCH Accounts Production. This is usually the first period for which you wish to record assets, although the Fixed Asset Register does permit prior period entries in some cases.
Accessing the Fixed Asset Register
From the Accounts Production Home screen, click the Fixed Asset Register FAR icon on the Ribbon.
Select if you require the following;
- Generate Asset Codes Automatically?
- Calculate a Full Period's Depreciation in the Period of Acquisition?
- Calculate Depreciation in the Period of Sale
These defaults can be changed later on the Periods screen and are described in more detail here.
Click OK
Click OK and you are taken to the Set Up screen where Asset Classes can be set up for each type of asset that is required on the client, e.g. for Fixtures and Fittings etc. The Asset Classes hold:
- The nominal accounts that act as control accounts for the Fixed Asset Register. When postings are made to these accounts in CCH Accounts Production, a Analyse in Fixed Asset Register? message appears so that the posting can be broken down into its effects on individual assets.
- The nominal accounts that are used for depreciation postings.
- Defaults that are used when a new asset is set up, e.g. the Depreciation Method.
The Asset Classes can be quickly set up using defaults from the Master Asset Classes.
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.