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Background of business case:

- They have multiple funding sources for a fixed asset.

- Funding source is one of financial dimension.

- Multiple fixed asset books (Accrual & Tax) are required.

- Multiple accounting books (Accrual, Tax, Cash) are required.

 

e.g.

- The cost of fixed asset $1,000.

- Funding source “A” sponsors the customer $600 for the fixed asset.

- Another funding source “B” sponsors the customer $400 for the fixed asset.


Fixed asset master:

- There is a field for user to enter multiple funding source (e.g. A & B) and corresponding ratio / amount (e.g. $600 & $400) of a fixed asset during acquisition process.

- 2 fixed assets with 1 fixed asset number and different funding sources (e.g. A & B) in the fixed asset master

- Support the above in fixed asset import template 


Fixed asset journal – depreciation proposal:

- Select the fixed asset to proceed the depreciation

-The deprecated amount per funding source should be found in fixed asset master (e.g. $600 -> $$540, $400 -> $360)


Fixed asset disposal form:

- Select the fixed asset to proceed the disposal

-The net amount per funding source should be found in fixed asset master (e.g. $600 -> $0, $400 -> $0)


Split of fixed asset :

- Select the fixed asset (e.g. 10001) to proceed the depreciation

- A new fixed asset (e.g. 10002) with multiple funding source (e.g. A & B) is created

- Fixed asset amount per funding source is split.

(e.g.

10001 “A” $600 -> 10001 “A” $300, 10002 “A” $300,

10001 “B” $400 -> 10001 “B” $200, 10002 “B” $200)


Accounting impact:

Entry with funding source A in accrual book

Entry with funding source A in tax book

Entry with funding source B in accrual book

Entry with funding source B in tax book

No entries in cash book


Category: Fixed assets
STATUS DETAILS
Inactive