Fixed Asset Summary Report

Purpose

The Fixed Asset Summary report presents account balance activity for Acquired Value and Depreciation as of the last time depreciation was calculated for each asset or, if elected, as of the end of the fiscal year. It shows the asset's cost and accumulated depreciation as of the beginning of the fiscal year; the cost for acquisitions and the cost and accumulated depreciation for transfers and disposals during that fiscal year; the current year depreciation and Section 179 expense; and the asset's cost and accumulated depreciation at the end of the fiscal year. The report is designed to help you tie into the asset and accumulated depreciation amounts on the balance sheet.

You have two options when you select the date for running the Fixed Asset Summary report:

Select a date that matches the last depreciation run date (the current through date) of the assets you want to see on the report. To do this, you must first make sure that you have calculated depreciation on the assets for which you want to run the report. When you run the report, you select the Include Only Assets Calculated Through the Run Date check box on the Report Definition window. (This is the default selection.)

Select a fiscal year-end date to show the asset activity as it appears at the end of the fiscal year. To do this, you clear the Include Only Assets Calculated Through the Run Date check box and enter the fiscal year-end date in the Report Definition window. If the date that you enter is not a fiscal year-end date, the system uses the fiscal year-end of the year that includes the date that you enter.