Fixed Assets Action Plan

Use the Fixed Assets Action Plan in order to fully implement and use the features available within the Fixed Assets module.

Verify that all items in the WinTeam Master Action Plan are completed before continuing.

Some of these items may have been completed during the set up of another module.

1. Set Up AP: Defaults.
   
   Use AP: Defaults to enter default GL numbers for the system to use when posting invoices and payments and when applying discounts. You will also provide a clearing account number to use for drop shipments. Standard Terms are defined here for use when calculating the due date of an invoice. When you set up a new Accounts Payable Vendor, the Vendor’s Standard Terms will default to this value. At that time, you may to change the terms for the vendor, if necessary. As you enter Accounts Payable invoices for this vendor, WinTeam calculates the due date on each invoice based upon the standard terms of the vendor.
2. Set Up AP: Vendor Master File.
   
   Use the Vendor Master File to set up new vendors and maintain information for current vendors. The Vendor Master File displays a vendor's current status, as well as their outstanding balance and other Year To Date information. Vendor default information for Purchase Orders and Invoices are maintained here too.
   
3. Set Up FA: Defaults.
   
   Use Fixed Asset Defaults to specify the default settings to use throughout the Fixed Assets module.
   
4. Set Up FA: Asset Categories.
   
   Use the Asset Categories screen to enter new Asset Categories and change existing Asset Categories. An Asset Category contains the Category Description, the General Ledger Accounts, and the Lifetime Range (in fiscal periods, or months) that an entire group of Fixed Assets uses.
   
5. Set Up FA: Master File.
   
   Use the FA: Master File to enter data and information related to Fixed Assets (both new assets, and existing assets converted from a previously used fixed assets system). You can add both depreciable and non-depreciable assets.
   
6. Update to the General Ledger
   
   Use the FA: Update to General Ledger screen to update Fixed Asset records from the Depreciation Details screen to the General Ledger.
   
7. Run the Personal Property Tax Report
   
   Use the Personal Property Tax report to help prepare your company’s Personal Property Tax return (if filing is required). This report prints selected Fixed Assets by year acquired, by Jurisdiction, by Personal Property Type, and by Recovery Period. You may select from various report criteria options for this report.
   
8. Run the Asset Acquired and Disposed Report
   
   Use the Assets Acquired and Disposed report to print the Fixed Assets Acquired, or the Fixed Assets Disposed, within a selected date range. You may elect to print a summary or detail report, and select from various report criteria options.
   
9. Run the Schedule of Depreciation Report
   
   Use the Schedule of Depreciation report to print the details from the last fiscal period (or month) that Fixed Assets from the Asset Master File, were updated to the General Ledger. This report prints Fixed Assets by Job and Category. You may select from various Tier Parameters for this report.