Epicor Asset Management Module - 9.05

  • 30 October 2018
  • 4 replies
  • 635 views
G
Userlevel 3
I have been asked to investigate how the Epicor Asset management module works, compared to our in-house MS-Access system.
In our test environment, I have configured/set up the following:


  1. Asset Register

  2. Asset Class

  3. Asset Group

  4. Spread Codes

  5. Depreciation Method



Then I entered 5 assets.  When I entered the assets, they have a flag beside them which indicates 'new'.  When I perform the post and depreciation calculations, no costs or depreciation is updated on the asset or posted into the G/L.
I am wondering if I need the assets to move from a status of 'new' to a status of 'in-use' or whatever the Epicor identification is to allow the depreciation to begin calculating.
Any help is appreciated.
Thanks.

------------------------------
Glenn Owers
ERP Business Analyst
Safran Electronics Canada
Peterborough ON
705-743-6903 x231
------------------------------
Glenn Owers Sr. Business Analyst Safran Electronics & Defense Canada Peterborough, ON Canada Version: 2021.2..23

4 replies

S
Hi Glenn, Can you confirm if the transactions are set to use the GL Book?

In some cases, there is no need for the depreciation to affect a general ledger (GL) book; therefore no GL book
is assigned to the asset register. If an asset has a non-GL book related register, no depreciations will be posted
against it.
Example For example, in New Zealand, companies are required to calculate depreciation multiple ways
for tax purposes, but do not need to post all methods to the general ledger, therefore do not use multiple
books.
An asset depreciation transaction can be set to be manually reviewed before it is posted by selecting the Manually
Review All Transactions check box for the Fixed Asset transaction in GL Transaction Type Maintenance. If the
depreciation being posted is not tied to a GL book, it can be set to Manual review, but the depreciations for
non-GL book registers will not display in the Review Journal since they do not create GL entries. The only
depreciations that display are those with a GL book related register. These depreciations can be confirmed through
the Review Journal allowing the transaction to be posted to the GL book linked to the asset register. Upon
successful posting of asset depreciation, the depreciation activity selected for posting is automatically marked as
posted and the asset register's costs are updated.
For more information on how to manually review asset depreciation activities, refer to the Review Journal and
GL Transaction Type Maintenance topics in the Application Help.

Thanks
Shawn

------------------------------
Shawn Fitzpatrick
President
The Enterprise Consultants Consortium (TeccWeb)
Brantford ON
9053308922
------------------------------
Shawn Fitzpatrick President, Partner, Lead Consultant TeccWeb Waterloo, ON 905-637-9255 x 101
S
And, check this also please.

Asset Posting Process
Use Asset Posting Process to post asset activities. Posting occurs based on the fiscal period and year entered.
This program can be run as many times as required in a single period. This posts the calculated depreciation for
newly calculated depreciation records. The posting program also posts the net change (if any) between what
was previously posted and what will now be calculated.

To post an asset addition in particular, some conditions must be true:
• The asset must be active, and must be assigned to an asset group.
• The GL controls of the assigned asset group must be valid.
• If an asset class is used, then the Provision GL account, the Depreciation account, and the Cost account
inherit the division from the asset class. Therefore, those account combinations must be valid.
• The Ready to Post check box must be selected in Asset Addition Entry.
• The Addition Added date must be in an open fiscal period, or at least one fiscal period must be open after
the Added date.
• The addition will not be posted if the open fiscal period for the addition is after the Period on the posting
window.
• The addition will not be posted if the open fiscal period for the addition is in a year different from the
Year on the posting window.

------------------------------
Shawn Fitzpatrick
President
The Enterprise Consultants Consortium
Brantford ON
9053308922
------------------------------
Shawn Fitzpatrick President, Partner, Lead Consultant TeccWeb Waterloo, ON 905-637-9255 x 101
J
Userlevel 2

You also need to make sure you have run the calculate depreciation method.

 

Regards,

 

Josh Owings | JR Automation

ERP Applications Manager

O: +1 (864) 397-9193 | C: +1 (864) 884-6587

 



------
Josh Owings, Director of Enterprise Applications, JR Automation105 Financial Blvd. Liberty, SC 29657, 864-397-9193, www.jrautomation.com
G
Userlevel 3
Shawn / Josh,
Thanks for the information.  I have found that a Review Journal was created and indicates my assets are 'out of balance'.
As I created the assets as Miscellaneous, I did not create the Misc. Addition and check the Inter-Group checkbox.  Once I did this and added some data, the item's depreciation has been created and the information posted.

Thanks again for your insights, as it did get me to where I needed to go, at least for these first steps.

I may have more questions related to this topic as I get further into my testing.



------------------------------
Glenn Owers
ERP Business Analyst
Safran Electronics Canada
Peterborough ON
705-743-6903 x231
------------------------------
Glenn Owers Sr. Business Analyst Safran Electronics & Defense Canada Peterborough, ON Canada Version: 2021.2..23

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