8 Working With Fixed Assets for Peru
This chapter contains the following topics:
8.1 Revaluing Assets for Peru
This section provides an overview of the calculations for the Revaluation Journal and discusses how to run the Revaluation Journal (R12845) report.
8.1.1 Understanding the Calculations for the Revaluation Journal
When you run the Revaluation Journal program (R12845), the program uses the existing revaluation indexes to calculate a new rate that it uses to revaluate the assets. The system retrieves these indexes to calculate the new rate:
-
The index that corresponds to the last day of the month before the current revaluation date.
The system uses this index as the numerator factor.
-
The index that corresponds to the last day of the month previous to the last revaluation. For example, if the last revaluation was calculated in December 2005, the system uses the index that corresponds to November 30 of 2005. The system uses this index as the denominator factor.
Note:
If the acquisition asset date is later than the last revaluation date, the system uses the index that corresponds to the last day of the month that is previous to the acquisition date.
The system calculates a new rate using the formula: (Numerator Factor) / (Denominator Factor). The system rounds the result to one decimal.
To calculate the revaluation amount, the system multiples the new rate by the accumulated asset balance as of the last revaluation date ((revaluation amount) = (last revaluation balance) × (new rate)). After the system calculates the revaluation amount, it calculates the adjustment amount using the formula: (revaluation amount) – (current asset balance).
The system generates journal entries for the adjustment amount and assigns the transaction a document type of AR and a batch type of AR. The system debits the account in which the adjustment occurs and credits the offset account that it retrieves from the one of the AAI items: FR1, FR2, or FR3, depending on the account associated with the asset that was revalued.
8.1.2 Prerequisites
Complete these tasks before you run the Revaluation Journal:
-
Set up revaluation indexes.
-
Set up revaluation accounts.
-
Set up revaluation limits.
-
Set up UDCs.
8.1.3 Running the Revaluation Journal (R12845)
Select Fixed Asset (G76P12), Revaluation Journal.
8.2 Generating the Fixed Asset Ledger
This section provides an overview of the fixed asset journal, lists prerequisites, and discusses how to:
-
Generate the fixed asset ledger.
-
Set processing options for Fixed Asset Ledger (R76P5020).
8.2.1 Understanding the Fixed Asset Ledger
After you run the Revaluation Journal and post the adjustments to the general ledger, you can generate the Fixed Asset Ledger report to send to the government. The system uses the information that is set up for the legal company in the Fixed Asset Ledger Set up program (P76P502) to determine the amounts to retrieve for each column on the report. Because the amounts to retrieve are based on a specific document type, which is set up in the Fixed Asset Ledger Set up program, the person reviewing the report can see the movement of the asset from the initial setup, through the accumulated depreciation and the revaluation process.
You can generate the fixed asset ledger in either proof or final mode. The report is the same regardless of the mode that you select, however, in final mode, the system assigns a folio number to each page that it retrieves from the Next Numbers table (F0002). Because this folio number is a legal document number, you should validate that the information on the report is correct before you generate it in final mode.
When you run Fixed Asset Ledger, the system retrieves the information that prints on the report from these tables:
-
F1201
The system retrieves information about the asset, such as the asset number, description, and acquisition date.
-
F1202
The system retrieves the beginning balance and period net posting amounts for the asset.
-
F0911
The system retrieves the amounts for each column that you specify in the Fixed Asset Ledger Setup program based on the corresponding document type.
The system uses the asset setup code, which you enter in a processing option, to determine which setup records to retrieve. For example, if you set up document type DP for the Depreciation column, the system retrieves the amounts associated with document type DP for each asset for the period and year specified.
The system prints the information that it retrieves in these columns on the report:
-
Begin Balance
-
Revaluation
-
Exchange Rate Differences
-
Improvements
-
Deductions
-
Depreciation
-
Inflation Adjustment
The system also uses the AAI items FCxx and FDxx to retrieve the amounts associated with the cost and accumulated depreciation accounts which it prints on the report.
When you run the program in final mode, the system assigns the next number for each page based on the company and fiscal year.
|
Note: This report must be generated to print on legal paper. You must customize the program to accommodate this requirement; otherwise, the report does not display all of the columns or the required folio number. |
8.2.2 Prerequisites
Before you run the Fixed Asset Ledger, complete these tasks:
-
Verify that the legal company for which you want to generate the fixed asset ledger is set up in the Fixed Asset Ledger Setup program.
-
Verify that all transactions are posted to the general ledger and fixed assets ledger.
-
Verify that the next numbers are set up for the company and fiscal year for which you generate the report.
8.2.3 Printing the Fixed Asset Ledger (R76P5020) (Release 9.1 Update)
The Fixed Asset Ledger report layout is in the format prescribed by Peruvian legal reporting requirements. See an example of the report layout at the end of this section. The following table lists the column numbers and description of the reporting fields in the report layout examples.
| Column Name | Explanation |
|---|---|
| Asset Number | NUMB field, retrieved from the F1201 table. |
| Account | OBJ.SUB or category code description. |
| Description | DL01 field, retrieved from the F1201 table. |
| Brand Asset | Retrieved from the F1201 table by asset number depending on the category code you set up by processing option. |
| Model Asset | Retrieved from the F1201 table by asset number depending on the category code you set up by processing option. |
| Serial Number | Retrieved from the F1201 table. |
| Begin Balance | Retrieved from the F1202 table (APYC field) for the ledger type defined by processing option. |
| Adquisitions | You set up this value on the P76P502 program, in the column name CTO. |
| Improvements | You set up this value on the P76P502 program, in the column name MEJ. |
| Deductions | You set up this value on the P76P502 program, in the column name RET. |
| Other Adjustments | You set up this value on the P76P502 program, in the column name DBC. |
| History Amount | The report sums up the begin balance, acquisitions, improvements and other adjustments, minus the deductions. |
| Inflation Adjustment | You set up this value on the P76P502 program, in the column name AJI. |
| Fixed Asset Value | The report sums up the history amount and the inflation adjustment. |
| Date acquired | Retrieved from the F1202 table. |
| Begin Date | Retrieved from the F1202 table (DSD field). If this value is the same as the date acquired, the reports leaves a blank below this column. |
8.2.4 Running the Fixed Asset Ledger
Select Fixed Asset (G76P12), Fixed Asset Ledger.
8.2.5 Setting Processing Options for Fixed Assets Ledger (R76P5020)
Processing options enable you to specify default processing values.
8.2.5.1 General
- 1. Legal Company
-
Specify the legal company number to use to retrieve the fixed asset information for the transaction companies. If you leave this processing option blank, the system produces a blank report.
- 2. Century
-
Specify the first two digits of the four-digit fiscal year to use to retrieve information for the report. For example, if you run the program for fiscal year 2010, enter 20.
- 3. Fiscal Year
-
Specify the two-digit fiscal year to use to retrieve information for the report. For example, if you run the program for fiscal year 2010, enter 10.
- 4. Period Number - General Ledger
-
Specify the period number through which the system retrieves transactions for the report. For example, if you enter 6, the system retrieves information for the first six periods of the fiscal year and century that you specify.
- 5. Suppress Zero Amounts
-
Specify whether to print assets that do not have a balance. Values are:
Blank: Print all assets that regardless of the balance.
1:Do not print assets that have a zero balance.
- 6. Account Category Code
-
Specify whether to print the standard account number associated with the asset or the category code value. Values are:
Blank: Print the standard account number (business unit.object.subsidiary).
21: Print the value of category code 21.
22: Print the value of category code 22.
23: Print the value of category code 23.
- 7. User Defined Code Table
-
Specify the UDC table to use to retrieve the ledger types for which you want the system to retrieve corresponding transactions.
Product Code
Enter the product code of the UDC table that contains the ledger types for which you want to retrieve transactions for the report. If you leave this processing option blank, the system uses product code 76H.
User-Defined Codes
Enter the UDCs of the UDC table that contains the ledger types for which you want to retrieve transactions for the report. If you leave this processing option blank, the system uses LL.
- 8. Assets Ledger Setup Code
-
Specify the asset ledger setup code to use to retrieve the column and document type information to print on the report. The system includes only information that is set up for the asset ledger setup code specified.
- 9. Mode
-
Specify whether to run the report in proof or final mode. Values are:
Blank: Proof mode. The system prints the report and assigns 1 as the page number.
1: Final mode. The system prints the report and assigns each page a folio number that it retrieves from the Next Numbers table (F0002) based on the value that you enter in the Document Type processing option.
8.2.5.2 Print
- 1. Document Type
-
Specify the document type to use to retrieve the number from the Next Numbers table (F0002) that the system assigns to each page of the report. The system uses the number associated with the document type for the company specified, or for company 00000, if the document type is not set up for the specific company. If the system cannot locate a next number for the document type specified or if you leave this processing option blank, the system does not assign a folio number to each page of the report.
- 2. Report Title
-
Specify whether to print the title that is entered in the two Title fields on the report. Values are:
Blank: Print the title that is entered in the Title fields.
1: Do not print the title.
- 3. Legal Company
-
Specify whether to print the legal company information, such as the name and address, on the report. Values are:
Blank: Print the company information.
1: Do not print the company information.
8.2.5.3 Fix Asset Item (Release 9.1 Update)
- 1. Category Code for Asset Model
-
Specify the category code used to define the asset model. If you leave this processing option blank, the system assigns value 4. The system stores the category codes in table F1201.
- 2. Category Code for Asset Brand
-
Specify the category code used to define the asset brand. If you leave this processing option blank, the system assigns value 7.
- 3. Supplemental Data Type
-
Specify the supplemental data type used to recover the authorization document number. Enter AM in this processing option.