Set up Assets for Depreciation

Use the EM Asset Setup form to set up assets and generate depreciation schedules. Depreciation schedules identify the depreciation amounts to take each month for the life of the asset.

Click on the following links for information about setting up new or existing assets.

Setting up New Assets

Click on the links below for instructions on how to set up new assets when you acquire them.

US and Canada

  1. From the Vista main menu, select Equipment Management > Programs. Double-click the EM Asset Setup icon to open the EM Asset Setup form. In the Equipment field, enter the equipment for which to set up an asset or press F4 to select from a list of valid equipment. In the Asset field, enter a code (alpha or numeric) to represent the asset. On the Info tab, in the Description field, enter a description of the asset. In the Purchase Price field, enter the purchase price of the asset. In the Residual Value field, enter the expected value of the asset after it has been fully depreciated. The system calculates the total amount to depreciate based on the purchase price less the residual value. In the First Month to Depreciate field, enter or select the first date for which to calculate depreciation for the asset. In the # of Months to Depreciate field, enter the total number of months for which to calculate depreciation for the asset. The system will use this value in conjunction with the First Month to Depreciate to generate the depreciation schedule. In the Method field, select the Straight Line or Declining Balance radio option to identify the method of depreciation for the asset. If you selected Declining Balance in Step 10, use the Factor field to enter the acceleration factor for calculating depreciation (e.g. 1.00, 1.50, 2.00). If overriding the depreciation accounts for this asset, use the GL Accounts section to indicate the override accumulated depreciation and depreciation expense accounts.
  2. Click Calculate to generate the depreciation schedule for the asset.

Australia

  1. From the Vista main menu, select Equipment Management > Programs. Double-click the EM Asset Setup icon to open the EM Asset Setup form. In the Equipment field, enter the equipment for which to set up an asset or press F4 to select from a list of valid equipment. In the Asset field, enter a code (alpha or numeric) to represent the asset. On the Info tab, in the Description field, enter a description of the asset. In the Purchase Price field, enter the purchase price of the asset. In the Residual Value field, enter the expected value of the asset after it has been fully depreciated. The system calculates the total amount to depreciate based on the purchase price less the residual value. In the Depreciation Start Date field, enter or select the first date for which to calculate depreciation for the asset. In the # of Months Held field, enter the total number of months from the Depreciation Start Date that this asset will be held. The system will use this value in conjunction with the Depreciation Start Date to generate the depreciation schedule. In the Method field, select the Straight Line or Diminishing Value radio option to identify the method of depreciation for the asset. If you selected Diminishing Value in Step 10, use the Factor field to enter the acceleration factor for calculating depreciation (e.g. 1.00, 1.50, 2.00). If overriding the depreciation accounts for this asset, use the GL Accounts section to indicate the override accumulated depreciation and depreciation expense accounts.
  2. Click Calculate to generate the depreciation schedule for the asset.
    • If you set up an asset months after you acquire it, the next time you process depreciation, the program will bring it up to date. For example, if you set up an asset in June that you acquired in April, and then run EM Depreciation Processing, the system will post 3 months of depreciation to June. If you want the depreciated amounts to go to the correct months and those months are still open, process depreciation for each month. If the acquisition dates back to the prior fiscal year, process depreciation for the last month of that year; the depreciation process only looks at one year at a time.

Setting Up Existing Assets in for the First Time

Click on the links below for instructions on how to set up existing assets after you have already posted some depreciation (in other words, coming on-line with the software for the first time).

US and Canada

  1. From the Vista main menu, select Equipment Management > Programs. Double-click the EM Asset Setup icon to open the EM Asset Setup form. In the Equipment field, enter the equipment for which to set up an asset or press F4 to select from a list of valid equipment. In the Asset field, enter a code (alpha or numeric) to represent the asset. On the Info tab, in the Description field, enter a description of the asset. In the Purchase Price field, enter the purchase price of the asset. In the Residual Value field, enter the expected value of the asset after it has been fully depreciated. The system calculates the total amount to depreciate based on the purchase price less the residual value. In the First Month to Depreciate field, enter or select the first date for which to calculate depreciation for the asset. In the # of Months to Depreciate field, enter the total number of months for which to calculate depreciation for the asset. The system will use this value in conjunction with the First Month to Depreciate to generate the depreciation schedule. In the Method field, select the Straight Line or Declining Balance radio option to identify the method of depreciation for the asset. If you selected Declining Balance in Step 10, use the Factor field to enter the acceleration factor for calculating depreciation (e.g. 1.00, 1.50, 2.00). If overriding the depreciation accounts for this asset, use the GL Accounts section to indicate the override accumulated depreciation and depreciation expense accounts. Click Calculate to generate the depreciation schedule for the asset.
  2. Click on the Schedule tab:
    1. In the Amount Taken field, enter the amount taken for each previous month or enter a lump sum amount taken (to include all previous years) in the last month of the year prior to going live.
    2. Click Calculate to generate the depreciation schedule for the asset for the current year forward.

      If going live mid-year, you can use any of the following methods:

    • Enter the Amount Taken for each month.
    • Enter a lump sum Amount Taken (to include all previous years) in the last month of the year prior to going live.
    • Calculate each month of the current year using EM Depreciation Processing and then manually adjust the monthly amounts where necessary.

Australia

  1. From the Vista main menu, select Equipment Management > Programs. Double-click the EM Asset Setup icon to open the EM Asset Setup form. In the Equipment field, enter the equipment for which to set up an asset or press F4 to select from a list of valid equipment. In the Asset field, enter a code (alpha or numeric) to represent the asset. On the Info tab, in the Description field, enter a description of the asset. In the Purchase Price field, enter the purchase price of the asset. In the Residual Value field, enter the expected value of the asset after it has been fully depreciated. The system calculates the total amount to depreciate based on the purchase price less the residual value. In the Depreciation Start Date field, enter or select the first date for which to calculate depreciation for the asset. In the # of Months Held field, enter the total number of months from the Depreciation Start Date that this asset will be held. The system will use this value in conjunction with the Depreciation Start Date to generate the depreciation schedule. In the Method field, select the Straight Line or Diminishing Value radio option to identify the method of depreciation for the asset. If you selected Diminishing Value in Step 10, use the Factor field to enter the acceleration factor for calculating depreciation (e.g. 1.00, 1.50, 2.00). If overriding the depreciation accounts for this asset, use the GL Accounts section to indicate the override accumulated depreciation and depreciation expense accounts. Click Calculate to generate the depreciation schedule for the asset.
  2. Click on the Schedule tab:
    1. In the Amount Taken field, enter the amount taken for each previous month or enter a lump sum amount taken (to include all previous years) in the last month of the year prior to going live.
    2. Click Calculate to generate the depreciation schedule for the asset for the current year forward.

      If going live mid-year, you can use any of the following methods:

    • Enter the Amount Taken for each month.
    • Enter a lump sum Amount Taken (to include all previous years) in the last month of the year prior to going live.
    • Calculate each month of the current year using EM Depreciation Processing and then manually adjust the monthly amounts where necessary.