SyteLine Fixed Assets Management Configuration Guide
Fixed assets management in SyteLine tracks the complete lifecycle of capital assets from acquisition through disposal. The module calculates depreciation across multiple books (financial reporting and tax), manages asset transfers between departments, and records disposals with gain/loss calculations. This guide covers the configuration of asset parameters, depreciation methods, and the key workflows for asset accounting.
Asset Configuration and Acquisition
Fixed assets are created on the Fixed Assets form (SLFixedAssets IDO) with details including asset description, acquisition date, original cost, and assigned depreciation method. The fixed_asset table stores asset master data while the fa_book table holds book-specific depreciation parameters. Assets can be created manually or generated automatically from AP vouchers when capitalization thresholds are met. Asset categories defined on the Asset Categories form group assets for reporting and default depreciation settings.
- Create asset categories on the Asset Categories form to define default useful life, depreciation method, and GL accounts
- Enter new assets on the Fixed Assets form with acquisition date, cost, salvage value, and useful life
- Configure automatic asset creation from AP vouchers when invoice amounts exceed the capitalization threshold
- Define multiple depreciation books per asset: Book (financial reporting) and Tax (income tax depreciation)
- Link each asset to a department and location for physical tracking and departmental cost allocation
Depreciation Methods and Processing
SyteLine supports multiple depreciation methods including straight-line, declining balance, sum-of-years-digits, and units-of-production. Each depreciation book on the fa_book record defines the method, useful life, and convention (half-year, mid-quarter, mid-month). The Run Depreciation utility calculates periodic depreciation for all active assets and generates GL journal entries debiting depreciation expense and crediting accumulated depreciation.
- Straight-line depreciation evenly allocates cost minus salvage value over the asset useful life
- Declining balance (200% or 150%) accelerates depreciation with automatic switch to straight-line when beneficial
- Configure half-year convention for tax book to apply IRS half-year first-year depreciation rules
- Run Depreciation monthly to calculate and post depreciation expense entries to the GL automatically
- The depreciation schedule report projects future depreciation by asset for budgeting and planning purposes
Asset Transfers and Disposal
Asset transfers between departments update the department assignment and reallocate future depreciation expense to the new cost center. The Transfer Asset utility records the transfer date and updates GL account assignments. Asset disposal processing on the Dispose Asset form records the disposal date, proceeds, and calculates gain or loss. Disposal posting removes the asset cost and accumulated depreciation from the balance sheet and records the gain or loss in the GL.
- Transfer assets between departments using the Transfer Asset form to reallocate depreciation expense
- Dispose of assets through sale, retirement, or write-off using the Dispose Asset form with proceeds entry
- Gain/loss calculation compares disposal proceeds against net book value (cost minus accumulated depreciation)
- Disposal posting removes both the asset cost and accumulated depreciation from their respective GL accounts
- Generate the Fixed Asset Register report for audit documentation showing all assets with book values and depreciation
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