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