The End of Year Process form is displayed when the End of year process is selected from the System Maintenance menu.
On entering the form, perform the following:
Click on the Print report button to print a preview report showing those assets for deletion - either because they were transferred to other Asset Classes or were disposed of in the past financial year. You may print out this report as often as you wish.
Once you are satisfied with the position of the Register, click on the Update asset register button The Register is now updated in preparation for the new financial year, a daybook is produced showing the amendments and deletions that have been made and you are returned to the AR System Maintenance Menu.
Note: Once you select the Print-disposed or transferred-assets option, the program cannot be halted; any Asset Records that are deleted from the Register are deleted irrecoverably.
The End of year process option generates a daybook listing two categories of information:
Details of those assets that were sold during the financial year, through usage of the Disposals option.
Details of those assets that were amended during the year, through usage of the Add or modify assets option.
EOY Deletions: For assets that were sold using the Disposals option in the year, the Daybook lists information according to Asset Class, with a financial sub-total given each Class. Finally, a financial grand total is calculated and shown for all deleted assets.
Information is listed under some or all of the following headings. If the asset was transferred during the year prior to its sale, the printout shows the new Asset Class Item Number and the date on which the transfer took place.
Item: The identifying four-digit Item Number of the asset within its Asset Class.
Description: The full, descriptive title of the asset, which may be up to thirty alphanumeric characters in length.
Model: The Model Number, if any, of the asset.
Serial No: The Serial Number, if any, of the asset.
Bought: The date on which the asset was purchased.
Sold: The date on which the asset was disposed.
Total Cost: The Initial Cost of the asset, plus any Additional Costs that may have arisen in the current financial year.
Net Book Vale: The Net Book Value of the asset. (its worth to the company.)
Proceeds: The selling of the disposed of asset.
Profit: The profit on the sale of the asset; that is, the Proceeds less the Net Book Value.
EOY Amendments: The End of Year Daybook also shows details of those assets that had additional costs during the financial year that is now ending. On the printout, the amended assets are grouped by Asset Class, with a financial sub-total shown for the assets within each Class.
For each amended asset, information is printed under the following headings:
Item: This is the identifying four-digit Item Number of the asset within its Class.
Description: The full, descriptive title of the asset, which may be up to thirty alphanumeric characters in length.
Model: The Model Number, if any, of the asset.
Serial No: The Serial Number, if any, of the asset.
Initial cost: The Initial Cost of the asset, excluding any Additional Costs that may have arisen in the financial year that is now ending. Any Additional Costs incurred in past years are included in this figure, as a result of previous runnings of the End of year process option.
Additional cost: Any Additional Costs that may have arisen for the asset in the year that is now ending. Those which may have arisen in previous years are included in the Initial Cost figure.
Net book val: The Net Book Value of the asset. (its worth to the company.)
YTD depreciation: The Year to Date Depreciation of the asset, as calculated by the usage of the Depreciation option within the financial year that is now ending.
You may halt the printing of the End of Year Daybook at any stage by depressing the Cancel button.
Use the End of year process option at the conclusion of each financial year to update the Register. The option is located on the AR System Maintenance Menu.
The End of year process option clears from the Register, those Asset Records that, in the financial year, were transferred to another Asset Class or were sold. The options used for these tasks would have been the Asset movement and the Disposals options respectively.
The program zeros the YTD Depreciation and the Additional Costs data fields on page two of the Record, the Asset Valuation page. Any figure in the Additional Costs field is added to the Initial Cost, yielding an updated Initial Cost amount for the new financial year.
In addition, the program clears from the Register details of any asset splits which may have been performed during the year with the Asset movement option.
The command gives you the option of printing a preview report that shows any disposed of and transferred assets; when you proceed to run the program, these Records will be deleted from the Register. On running the program, the Register is updated and a daybook is printed listing the amendments and deletions that have been made.
BUTTONS
Exit: Returns you to the SYSTEM MAINTENANCE menu.
Help: Displays help on the current application using the default browser.
