Assets and Asset Classes
Here you’ll find product guides to assist in using Assets
Last update: CCH Fixed Asset Register
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.
CCH Fixed Asset Register
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.
CCH Fixed Asset Register
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.
CCH Fixed Asset Register
CCH Fixed Asset Register: Asset Summary
The document provides an overview of the Fixed Asset Register (FAR) in CCH Accounts Production, detailing the Asset Summary screen that displays client Asset Classes and their yearly balances. It explains key columns, including Asset Class codes, Balance Sheet categories, and alignment with nominal accounts. Additionally, it outlines various ribbon options for functions such as exporting data to Excel, setting up Asset Classes, posting depreciation, generating FAR reports, and importing asset balances from Excel or legacy systems. The content serves as a guide for users to navigate and utilize the Fixed Asset Register effectively.
CCH Fixed Asset Register
Menus
This document outlines the menu options available in the CCH Fixed Asset Register, detailing functionalities such as Asset Class, Asset Management, Asset Movement tracking, and generating reports. It also highlights options for importing and exporting data, including from Excel and VAP, as well as settings for accounting periods. Each menu item is linked to further resources for user guidance on accessing and utilizing these features effectively.
CCH Fixed Asset Register
Asset Class
The document describes the Asset Class screen, which outlines assets in an Asset Class and provides a reconciliation with nominal ledger balances. It is divided into two sections: the FAR Balances section lists assets with relevant details and balances, while the Reconciliation section ensures agreement between nominal account balances and Fixed Asset Register balances. It discusses potential discrepancies and outlines how to manage asset classes, including options to export data, create new assets, and delete asset classes if empty. The reconciliation aims to align financial reporting with accurate asset tracking.
CCH Fixed Asset Register
Usage of Asset Class Nominals
This document elaborates on the setup and functions of Asset Class nominal accounts within the Fixed Asset Register. It details two main types of nominal accounts: Trigger Accounts, which activate the Fixed Asset Register during posting, and Posting Accounts, which manage automatic depreciation postings. The document provides a summary table categorizing various nominal accounts as either Trigger or Posting Accounts and their specific uses in relation to asset management, including entries for additions, disposals, and depreciation.
CCH Fixed Asset Register
Task Permissions: Reference
This document outlines how system administrators can manage Task Permissions for the Fixed Asset Register within the Accounts Production software. It details the process for accessing permissions, the role of Security Groups, and how multiple roles can be assigned to employees. Available permissions are categorized under Group Descriptions like Client and Maintenance, with specific permissions related to the Fixed Asset Register including creation, deletion, and importing features. It highlights that permissions control access to crucial functions and warns about data deletion when importing from VAP.
CCH Fixed Asset Register
Prior period entries
The document explains the functionality of the Fixed Asset Register in relation to asset movements and prior period adjustments. It outlines that movements can be made in prior periods unless finalized in CCH Accounts Production, and allows for adjustments affecting depreciation calculations without posting an asset movement. It highlights the implications of changing settings related to depreciation, noting that such changes will affect both prior and subsequent periods, leading to discrepancies between the Fixed Asset Register and nominal ledger, which may require additional entries to reconcile. If no prior period adjustment is necessary, changes should be made in the current period.
CCH Fixed Asset Register
Periods
The document outlines the settings and functionalities of the Periods screen in the Fixed Asset Register (FAR). It details how to add accounting periods, with options for linked and non-linked periods to CCH Accounts Production. Key features include settings for automatic generation of asset codes, full-period depreciation calculations in the acquisition period, and depreciation policies during asset sales. The document also informs on the handling of periods at year-end and the implications for depreciation when assets are bought or sold within the same period.
CCH Fixed Asset Register
Asset Details
The document outlines the functionalities of the Asset screen within a financial software application. Users can create or access asset details, view asset attributes like Asset Code, Asset Name, and Depreciation Start Date, and manage changes subject to finalization constraints. It is emphasized that depreciation methods and residual values are defaulted but may be overridden. The History section tracks asset movements, and users have options to export data to Excel or delete assets without movements. Important restrictions regarding changes affecting finalized periods and depreciation methods are also highlighted.