Adding an Asset

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Here is the new version of this article in the Veracross Community.

Add an Asset

To add an asset, navigate to the Property Control homepage and click Add an Asset.

On the Asset detail screen, enter all loadlevant information. Note the following about particular fields:

  • Asset Number: Automatically assigned by VCA
  • Asset Description (required): A short description of the Asset
  • Asset Category: A grouping of assets with similar characteristics
  • Asset Type: To process specific assets, select the desired type.
  • Expected Life: How long will the asset be in service (in years).

Click  Add PC Master – Depreciable when all information has been added.

Asset Deprec. Tab

Once the asset is added, click the Asset Deprec. tab to fill out the necessary information for the depreciation schedule.

  • When all the necessary information for the asset is entered into the detail, the Ready to Depreciate field will be flagged by the system.
  • The Asset GL Account is for reference only, no journal entries will be created for this account when the depreciation is posted.
  • The Accumulated Depreciation and Depreciation Expense accounts are used when recording the depreciation of an asset. When the depreciation is posted there will be a debit to the Depreciation Expense account and a credit to the Accumulated Depreciation account.

To create the depreciation schedule, click the Create Book Depreciation flag and then Update. The depreciation items will appear at the bottom of the detail screen and the flag will reset, then the screen will reload.

Post Asset Depreciation

Navigate to the Property Control homepage and click Post Asset Depreciation. On the following screen, enter all relevant information. Posting Date and Depreciation Type are required. Click  Add Post PC Depreciationwhen done.

To view the posted asset, navigate to the Property Control homepage and click Depreciable Asset Listing.