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Before you can start using the PPE System, you and your company must have secured from your system administrator the needed access rights. Click here for details. See also User Interface to familiarize yourself on how the system works.
Start configuring the PPE System based on your company requirements by setting up the following master files. If you have an Excel or csv file, you can use the copy/paste feature via grid's context menu in updating these master files:
MASTER FILES SETUP:
1. Asset Type. This is used to classify the assets accordingly. Assets are usually classified as: Land, Building, Transportation Equipment, Furniture and Fixture, Office Equipment, etc.
2. Asset Group. This is used to group similar assets. Ex: Computers, Aircon, Chairs, Tables, Cabinets, etc.
3. Chart of Accounts. This is used in creating proforma journal entries to record depreciation, impairment and derecognition of the assets.
4. Cost Centers. This refers to the cost centers of the company where depreciation expenses will be charged.
5. Disposal Method. This refers to the method of disposing the assets. Ex: Sale, Donation, Retired, etc.
6. Employees - refers to employee master files. It contains all the list of employees whic will be used to monitor accountability of the asset assigned to the employee.
7. Insurance Type - refers to Insurance Type master file. It contains all the list of insurance types: Ex: Comprehensive, Fire, etc.
8. Location - refers to the location master file and it is used to track-down the whereabouts of the asset.
9. Customers - refers to customer master file. It contains all the list of customers which will be used to monitor accountability of leased assets to customers.
After setting up the master files above, you are now ready to enter transations affecting the PPE.
DATA ENTRY:
1. PPE Portfolio - includes the initial recording of the asset, additional and repair costs incurred and location and accountability of the asset
2. Depreciation - refers to the generation of depreciation expenses. Depreciation is automatically computed on a monthly basis.
3. Impairment - refers to the recording of asset impairment, if any.
4. Derecognition - refers to the retirement of assets either through sale, donation, retirement, etc.
5. Insurance Policy - refers to insurance of each asset or group of assets.
REPORTS:
At any given time, you can generate the followingreports. Reports are updated in real time as they are processed based on the raw data.
1. Monthly Lapsing Schedules
2. Monthly Lapsing Schedules with Cost Centers
3. Journal Entries
4. Insurance Policies for Renewal
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