QAD Enterprise Asset Management 2017.1
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Project Activities–Jobs for Capital Projects
Project Activities–Jobs for Capital Projects
You can perform the following activities for jobs associated with capital projects:
Capitalizing a Fixed Asset from a Job
You can create a fixed asset from a job. The total costs for the job are used when capitalizing a new fixed asset from EAM to QAD Enterprise Edition’s Fixed Assets module. If you capitalize an asset from a job, the job must have expenses associated with it and all other capitalizations of assets can only be done at this same job level. You cannot capitalize assets for children of the job or at the project level. The class and location are data-driven from QAD Enterprise Edition’s Fixed Assets module and are used to determine how the asset is depreciated.
Follow these steps to capitalize a fixed asset from a job:
1 Open the Projects browse and highlight the project record.
2 In the lower browse, highlight the job.
3 Select Capitalize New Job Asset from the lower browse Action menu. The Capitalize New Job Asset window opens.
Capitalize New Job Asset
4 Enter the information regarding the asset in the following fields.
Job No
The system-generated job number.
Service Date
Enter or select the date this asset was placed into service.
Fixed Asset ID
Enter the fixed asset identifier of this asset.
Total Spent
Displays the total spent on this job.
Description
Enter the text description of this asset.
Capitalized Amount
Because this is a new asset, initially this field displays a zero capitalized amount.
Class
Enter or select the asset class of this asset. Any books associated with that class display in the grid.
Uncapitalized Amount
Initially defaults and displays the uncapitalized amount on this job, which is equal to the total spent for a new asset.
Location
Enter or select the location of this asset.
New Capitalized Amount
Enter the capitalized amount of this asset. This value cannot be greater than the Total Spent amount of the job.
Book ID
A unique ID identifying the fixed-asset book. Defaults from QAD Enterprise Edition.
Description
A brief description describing this fixed-asset book. Defaults from QAD Enterprise Edition.
Post
If this check box is selected, this book posts to the GL. There can be more than one posting book but only one can be a primary book. Fixed Asset Transaction Post (32.13) creates unposted transactions for accumulated depreciation and depreciation expense accounts based on depreciation calculated for this book. Posting books always follow the GL calendar.
Primary
If this check box is selected, this book is referred to as the primary posting book. Only one primary posting book is allowed.
Method
The predefined depreciation method ID. Methods identify how depreciation is calculated for the asset service years. Defaults from QAD Enterprise Edition.
Life
The number of years for the book’s life. This number is used as a basis for depreciation calculations. Defaults from QAD Enterprise Edition.
Cost
The amount entered in New Capitalized Amount and defaults into all the books, regardless of the book’s currency. This cost can be manually updated.
Currency
The book’s currency.
5 Once you have entered all the information, click OK. The fixed asset has been capitalized for this job.
Capitalizing Additional Costs to an Existing Job Asset
Once a fixed asset is created and additional costs are incurred, the Modify Job Capital Asset action updates the capitalized amount in EAM Project|Job and sends it back to the asset in QAD Enterprise Edition’s Fixed Assets module.
Follow these steps to capitalize additional costs to an existing job asset:
1 Open the Projects browse and highlight the project record.
2 In the lower browse, highlight the associated job record.
3 Select Modify Job Capital Asset from the Job Action menu. The Update Job Asset window opens.
Update Job Asset
4 You can edit the information regarding the job asset in the following fields:
Description
Enter the text description of this asset.
Location
The location of this asset.
New Capitalized Amount
Enter the new capitalized amount of this asset. This value will overwrite the total cost of the asset. This value cannot be greater than the Total Spent amount of the project.
Cost
The amount entered in New Capitalized Amount does not update the book’s cost. This cost can be manually updated.
5 Click OK. The fixed asset updates.
Viewing Capitalized Asset Data for a Project
The Fixed Asset Details submenu, which is only available for jobs associated with capital projects, allows you to pre-enter fixed asset data to be capitalized or view current capitalized asset data and capitalization changes associated with this job.
The upper browse displays information about the fixed asset, and the lower browse displays the revision history for the fixed asset.
To view the capitalized asset data for a job, open the project and select the Fixed Asset Detail submenu.
Fixed Asset Details
The upper browse contains the following fields about the fixed asset.
Description
Enter a description of the fixed asset.
Job Number
Select a job from this project with which to associate this fixed asset by clicking the magnifying glass and selecting from the list that displays.
Service Date
Enter the date this fixed asset was put into service. Defaults to the current date, which can be edited by clicking the arrow and selecting a date from the calendar that displays or by entering a new date.
Location
Select the location of the asset by clicking the magnifying glass and selecting from the list.
Class
Select the asset class by clicking the magnifying glass and selecting from the list.
Current Capitalized Amount
Displays the amount currently capitalized for the asset.
Posted to ERP?
This check box is selected if this asset has been posted in the ERP.
Job Expensed Amount
Displays the amount expensed to the job for this asset. This value is the total spent.
Job Expense at Level
The amount expensed at this level for the job. This value is the total spent at this level.
Uncapitalized Amount
Displays the job expense associated with this asset that is not yet capitalized.
Original Capitalization Date
Displays the original date this asset was capitalized, if any.
Original Capitalization Amount
Displays the original amount at which this asset was capitalized, if any.
