A103 Deploy Fixed Assets

Presented by:Gary GodfreySolution Expert

November 9, 2015

Summary:Discuss the benefits of managing fixed assets in Orchestrated and steps to deploy.

Who Should Attend:

Accounting Personnel

Logistics:

Straight Line

SUMMARY

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1. Overview

2. Benefits

3. Orientation

4. User Perspective

5. Q&A

AGENDA

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Overview

Overview

• The Fixed Asset function provides control of the complete asset life cycle, from acquisition, depreciation, revaluation, and retirement.

• Manage fixed assets from an accounting and tax perspective in a more efficient manner.

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Benefits

Benefits• Eliminate External Fixed Assets Systems

Everything in one place

• Automate Data EntrySimple to execute runs

• Change logKnow what changed

• Multiple Depreciation AreasView additional depreciation calculationsIn parallel to the actual calculation

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Orientation

Depreciation Areas

• Create different depreciation areas to show the value of fixed assets for a specific purpose.GAAPTaxInternalEtc.

• Posting of DepreciationDirect: Post to asset balance sheet account Indirect: Post to accumulated depreciation account

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Orientation

Depreciation Methods• Straight Line

Acq. Value/Useful Life, % of Acq. Value, Net Book / Rem Life

• Straight Line Period ControlStraight Line with a factor you define for each period

• Declining BalanceCan auto switch to Straight Line toward end of life

• MultilevelSet multiple stages, period and rate

• Immediate Write-OffWritten off in same period as aquired

• Special DepreciationAdditional percentage in addition to normal depreciation

• Manual DepreciationOne off, enter depreciation manually

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Orientation

Process Flow• Enable

Activate Fixed Assets

• SetupG/L DeterminationsDepreciation TypesDepreciation AreasAsset Classes

• AcquireCreate Fixed Asset ItemCapitalize Item

• DepreciateExecute Depreciation Runs

• RetireRetire the Asset

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Orientation

Master Data

• Master Data for Fixed Assets

• View values for depreciation areas

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Orientation

Capitalization

• Capitalize with A/P Documents or Fixed Assets Capitalization Document.

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Orientation

Depreciation Run

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• Select the Period• Preview• Execute

Orientation

Retirement

• Retire with A/R Documents or Fixed Assets Retirement.

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User Perspective

Karla MontoyaFinance Manager

Golden Road BrewingLos Angeles, CA

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Next Steps

Next Steps

• List all active Fixed Assets in a Spreadsheet

• Refresh Test Database

• Activate Fixed Assets in Test Database

• Test Fixed Assets in Test Database

• Go-Live w/Orchestra’s help on Fixed Assets

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Q&A

Q&A

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http://

forums.orchestratedbeer.com

Thank You!