Hello @lubos The current fixed Asset summary report is great but I feel more could be done to improve fixed Asset reporting.
Most users create various control accounts to handle fixed asset reporting. For example, Control accounts for Furniture and Fittings, for Motor Vehicles, for Computer and Accessories and for equipment.
It would be nice if there was a report that could display Asset Summary according to their control account as shown below;
This report could be called the Fixed Asset Summary and the current one renamed to Fixed Asset Items summary.
Reasons this report will help
There wouldn’t be the need to split the Fixed Asset Accumulated Depreciation Account on the balance sheet or summary page to show accumulated depreciation for every control account (Furniture, computers, or whatever groupings based on control accounts) as some of us have requested, the breakdown will be here in the report.
A quicker way to know balances for control accounts under fixed assets.
Saves time, accountants don’t have to extract the Items list and try to create a report like in the above picture.
Easily do fixed asset tax accounting
This report would be an addition to the current report and not a replacement as the current report also displays very important report fixed asset itemwise.
When control accounts are used, could the control account please be shown in the “Fixed Asset” tab to enable search and sort by the “Fixed asset” “Control account - at cost”.
@Abeiku, with all the changes in asset accounting over the past few months:
Custom control accounts for assets
Custom control accounts for accumulated depreciation/amortization
User-selectable expense accounts for depreciation/amortization
isn’t everything you wanted already available? These accounts are going to show up in the standard financial statements, general ledger summary, etc. In fact, won’t more information than you have asked for be available?
@Patch, while not directly providing what you are requesting, don’t the available reports eliminate the need to search and sort the Fixed Assets tab? In other words, why would you want to do that when you can turn to a standard report?
It just seems to me that the “liberalization” of setup possibilities for assets gives so much flexibility, that some of the old hunger for special features surrounding assets should now go away. Am I missing something? Or can this be taken out of the ideas category as having been superseded by other developments?
Neither the standard fixed asset reports nor the fixed asset tab allows display by fixed asset control group.
For those user who divide their fixes assets in to control groups this subdivision is significant to them.
Recreating the fixed asset report or fixed asset tab functionality is beyond the capabilities the new custom report writer.
In my opinion, when fixed asset control accounts are used, showing the fixed asset control account in the fixed asset tab to enable grouping by it would be valuable. Others may have a different opinion.
I understand what you say, @Patch. My point was not whether the Fixed Asset Summary displays by control group; it doesn’t. Nor was it whether you could create a custom report. But the main balance sheet now gives you complete flexibility on control account assignments for both cost and accumulation accounts. So is this extra summary report even necessary? The division is already there. What I was really getting at was whether we just need to get used to looking at the information a different way.
I could always see why users did not like having all assets lumped into a single control account. And once control account flexibility was provided a couple years ago, it really bothered me that the accumulated depreciation/amortization accounts could not be similarly split. But none of those restrictions exist any more. I can’t help but wonder, if the current flexibility had been available from the start, would anyone even be thinking along the lines of this topic? Regular visibility into the control accounts and an asset register would have seemed completely adequate to me.
Please take a good look at the report. Is the financial statement (current reports and displays) enough to show disposed fixed assets per control accounts ? Does it show the figure for additions for control accounts ? And does it show adjustments per control accounts? (Revaluations).
I said in my first post in point 3 that it will save time. You can get all the data you need for this report in Manager, but I’m only asking if Manager could be made to put the report together for you to save time.
Note
Defining Where…
(isControlAccountForFixedAssets is checked) or (isControlAccountForFixedAssetsAccumulatedDepreciation is checked)
is a little long winded as the following is not currently supported
Also to work out Book value and put the “at cost” and “accumulated depreciation” together for each asset, greater output flexibility would be required.
I assume Drill down on displayed totals is beyond any user defined reports I can imagine, so likely to requiring native program support.
At the summary screen, when drilling down into a “Fixed Asset”
“- At cost” account or
“- Accumulated depreciation” account
it would be ideal if Manager used the same screen layout as the “Fixed Asset” tab. Not sure if this would be hard to do or not.
I suspect having a Report “Fixed Asset Summary” sorted then grouped by the Fixed asset “Control account — At cost” will have to wait for further development in the output options for custom reports
