The Financial tab contains all of the financial information for the asset, including a summary of the financial adjustments for the selected book. This tab is available for Fixed, Equipment, Property and Software assets.
The tab is divided into two sections. The upper section displays general financial information for the asset, such as the purchase order details. The lower section displays all of the information specific to a selected depreciation book. You can choose a depreciation book from the list of depreciation books. When you select a different depreciation book, Pinnacle will display the details for asset in the selected book.
The fields on the Financial tab are:
Acquisition Type - This is the method by which the asset was acquired. You can select an acquisition type from the list of acquisition methods defined in the Acquisition Types table.
Purchase Order Number - This is the purchase order that the asset purchase is listed on.
Item Number - This is the item number from the purchase order that the asset purchase is listed against.
Invoice Number - This is the supplier's invoice number for the asset.
Claim Reference - This is the number of the claim that was used to pay for the asset.
Account Code Part 1 - This is the account code which the asset was expended against within the general ledger. If your account code has more than one part, you may wish to use the second and third account code fields. You must select the account code part 1 from the list of first level budget component codes defined in the Budget Module.
Account Code Part 2 - This is part two of the account code, if your budget structure uses more than one part. You can use the account code part 2 to track and group depreciation and other postings for a wide variety of reasons by using codes attached to this field for transaction analysis. You can select the account code part 2 from the list of second level budget component codes defined in the Budget Module.
Account Code Part 3 - This is part three of the account code, if your budget structure uses more than one part. You can use the account code part 3 to track and group depreciation and other postings for a wide variety of reasons by using codes attached to this field for transaction analysis. You can select the account code part 3 from the list of third level budget component codes defined in the Budget Module.
Replacement Cost - This is the amount that you anticipate that it would cost to replace the asset.
Depreciation Book - This is the currently selected depreciation book for display. You must select a book from the list of all active depreciation books defined in the Depreciation Book table.
Depreciable - This indicates whether the asset is to be depreciated in the selected depreciation book.
Depreciation Method - This is the depreciation method to use for the asset in the selected depreciation book. The depreciation methods used in Pinnacle are Prime Cost and Reducing Balance. You must select one or the other of the depreciation methods.
Depreciation Rate % - This is the depreciation rate currently applicable for the asset in the selected depreciation book. You cannot edit the depreciation rate.
Retirement Date - This is the date that the asset is expected to reach its residual value. Pinnacle calculates this date based on the depreciation rate of the asset in the selected depreciation book and the acquisition date of the asset in the selected depreciation book. You cannot edit the retirement date.
Remaining Life in Years - This is the number of years from the current date until the asset's retirement date is reached. You cannot edit the remaining life.
Residual Value - This is the residual value specified for the asset in the selected depreciation book. This is the final value of the asset when it reaches the end of its useful life. You cannot edit the residual value.
Acquisition Date - This is the date that the asset was acquired in the selected depreciation book. This date may vary from book to book.
Acquisition Value - This is the amount that the asset was acquired for in the selected depreciation book. This amount may vary from book to book, but defaults to the Total Price of the asset from the Details tab.
Last Revaluation - This is the amount of the latest revaluation for this asset in the selected depreciation book. You cannot edit the last revaluation amount.
Adjustments Since Acq/Last Reval - This is the total value of financial adjustments in the selected depreciation book made since the asset was last revalued in the selected book, or if there have been no revaluations, the total value of adjustments made since acquisition. You cannot edit the adjustments since acquisition/last revaluation.
Current Year Depreciation - This is the amount by which the asset's value has been reduced due to depreciation in the selected depreciation book during the current financial year. You cannot edit the current year depreciation.
Accumulated Depreciation - This is the total amount by which the asset's value has been reduced due to depreciation in the selected depreciation book over the entire life of the asset. You cannot edit the accumulated depreciation.
Written Down Value - This is the current value of the asset in the selected depreciation book. The written down value takes into account the value of the asset, any revaluations or adjustments, and the depreciation for the asset. You cannot edit the written down value.