¶ Purpose
The Asset Master screen is used to add and manage details of subcategories under their asset types, ensuring accurate tracking, depreciation, and reporting of assets.
¶ Prerequisites
The following transactions must be completed.
- The user must have access to the Asset Master transaction.
- The Asset Type transaction must be completed.
- The Expense Ledger (account) is required.
¶ Asset Master
The Asset Master screen allows the user to add details for asset subcategories, including Asset Code, Asset Name, Description, Asset Type, Straight Line, Expense A/C, and Liability A/C.
Navigation: Main – Menu ⇢ Transactions ⇢ Finance ⇢ Finance Entries ⇢ Finance ⇢ Select Financial Year ⇢ Show List ⇢ Assets ⇢ Asset Master
- The user must select the appropriate Asset Type from the left panel of the screen.
- The user must enter the Asset Code and the Asset Name.
- The user can enter details of the Description.
- The user can enter details of the WDV in percentage.
- The user must enter details of the Straight Line in percentage.
- The user must select the appropriate Expense A/C (Depreciation Ledger) and Liability A/C from the dropdown list.
- Click Save, the asset code and name will appear on the left panel of the screen.
¶ Preview Details
The Preview option allows the user to view and print the created or existing category details.
- The user must select the appropriate Asset Type from the left panel of the screen.
- Click Preview, the following screen will appear.
- Click Print, to print documents.
- The user can view details in Excel, HTML, Open Office, PDF and Notepad format.
- Click Email, the following screen will appear.
- The user must enter the Subject.
- The user can upload multiple attachments if required.
- The user can delete the uploaded attachments if required.
- The user must select one of the options from Employees, Customers, Sales Rep, Suppliers, Subcontractors or Others.
- Once the user selects the appropriate option, the corresponding Email IDs will appear in the Email Address section.
- The Add Your Message Here section allows the user to add messages.
- Click Send, to send emails.
- Click Add, to add the new email address.
- Click Delete, to remove the selected mail ids.
- Click Settings, the following screen will appear.
- The user must enter details of the Your Existing Mail Server Name, Port (Existing), Change the above Mail Server Name To and Port (New).
- Click Change.
¶ Expand All
The Expand All link allows the user to view the category hierarchy at once. It shows all categories, sub-categories, and their details, making it easier to navigate and get a complete overview.
- Once the user selects the Expand All link, the following screen will appear.
¶ Collapse All
The Collapse All link allows the user to simplify the view by hiding all categories and sub-categories.
- Once the user selects the Collapse All link, the following screen will appear.
¶ Delete Added Sub-Category Details
The Delete option allows the user to delete the added or existing sub-category details if further or subsequent transactions are not executed.
- The user must select the appropriate asset type details from the left panel of the screen.
- Click Delete, the following message will appear.
- Click Yes.
¶ Functional Use Cases
| Sl. No. | Use Case | Business Scenario | Functional Outcome in ERP |
|---|---|---|---|
| 1 | Add Asset Details | The user needs to create new asset records or subcategories under the corresponding asset types. | The system records the asset details including Asset Code, Name, Description, Depreciation Method, Expense Account, and Liability Account, ensuring accurate asset registration and tracking. |
| 2 | Preview Asset Details | The user wants to review or print asset details for verification, audit, or reporting purposes. | The system displays the selected asset details and allows the user to view, print, or export them in multiple formats such as Excel, PDF, HTML, Open Office, or Notepad. |
| 3 | Email Asset Details | The user needs to share asset details with employees, auditors, or other stakeholders directly from the ERP system. | The system enables the user to send asset details via email with attachments and customised messages, ensuring efficient communication and record sharing. |
| 4 | Expand All / Collapse All | The user wants to view all asset categories and subcategories at once or collapse them for a simplified display. | The system expands or collapses the asset hierarchy, improving navigation and visibility of asset structures. |
| 5 | Delete Asset Details | The user needs to delete an existing or incorrect asset record, provided no subsequent transactions are linked. | The system deletes the selected asset record and updates the asset master list, maintaining accurate and current asset data. |
¶ Use Case Scenario
- Click here for a detailed use case scenario for the transaction.
¶ Transaction Checklist
| Steps | Checklist Item | Details / Purpose |
|---|---|---|
| 1 | Verify User Access Rights | Ensure the user has the required access permissions to create, edit, or delete asset details in the Asset Master screen. |
| 2 | Confirm Asset Type Setup | Verify that the required Asset Types have been created in the system before adding subcategories or individual asset records. |
| 3 | Check Expense Ledger Availability | Make sure the Expense (Depreciation) Ledger and Liability Account are already defined in the Chart of Accounts. |
| 4 | Select the Correct Financial Year | Confirm that the correct financial year is selected under Finance → Finance Entries → Finance → Select Financial Year → Show List. |
| 5 | Collect Asset Details | Gather the necessary information, such as Asset Code, Asset Name, Description, Depreciation Method (WDV or Straight Line), Expense Account, and Liability Account. |
| 6 | Verify Accounting Dependencies | Ensure there are no pending transactions or conflicting entries related to the same asset code. |
| 7 | Review Email Configuration (if applicable) | Check that the email server settings are properly configured if the asset details need to be shared via email from the system. |
| 8 | Confirm Reporting Access | Make sure the user has permission to preview, print, or export asset details for verification and audit purposes after saving the transaction. |