Asset Name

Character limit: 128

 

This is the primary reference for the asset in AA. This is the name displayed in the first column of the AA assets grid. You are still able to search by any field imported regardless of the data you enter in this cell.

 

Purchase Date

Format dd/mm/yyyy

 

Cost

No negative values can be in this column.

 

You may see a negative value when an asset has been returned for a refund. In this case no further depreciation should occur. The previous journals will (should) have been reversed (write back adjustments) by your accountant previously.

 

Therefore, these assets can be removed from the FAR.

 

However, if you want to keep these assets as a placeholder, change the negative cost back to the actual cost (positive value). Then set the depreciation method for both Tax and Accounts as 'Doesn't exist'. When this is applied, the asset will not be depreciated and the cost of the asset will be excluded in register calculations.

 

Asset Group

If you are trying to import to an existing asset group in AA:

 

Matching the name of the asset group in the import file to the to the asset group in AA will allow the system to auto map. This is useful but not mandatory as you will have to the opportunity align the groups during the import process.

 

If you are creating a new group from the import (Create this group) ensure that you name the asset group exactly how you want it to display in AA. e.g. "Computer Equipment - 107001"

 

Tax Method & Accounts Method

Specify here the depreciation method used for the asset for both Tax and Accounts books.

 

Tax Life or Accounts Life

Must have a value above 0 unless you are importing assets under method 'None' or 'Doesn't exist'. In which case no life is required because the asset will not depreciate.

 

NZ registers do not require data in this column.

 

Tax Rate or Accounts Rate

Must have a value between either 1 - 100 or, 0 - 1.

 

• 50 will be interpreted as 50%

• 0.50 will be interpreted as 50%

 

Unless you are importing assets under method 'None' or 'Doesn't exist'. In which case no rate is required as the asset will not depreciate.

 

Tax Written Down Values (WDV) or Accounts WDV

Can't be negative.

 

Can only be blank or zero if:

 

• Using depreciation methods 'None' & 'Doesn't exist', or

• If you are importing new assets and the 'opening balance date' in the import modal is set to "no opening balance".




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Related documents

Implementation Guide