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Fixed Asset ProgramManual
Entering / copying data from another
spreadsheet
Fixed Asset Program Manual
Copyright 2013 Rupert Parsons
This document is licensed under the Creative Commons Attribution Share Alike License version 3.
You may copy, distribute and/or modify it under the conditions stipulated in the copyright licence.
Click the link below to view the details of the copyright licence which applies to this publication:
http://creativecommons.org/licenses/by-sa/3.0/deed.en
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Introduction
This chapter contains the following sections (each section starts on a new page):
Step 1: Set up the program
Step 2: Insert rows
Step 3: Enter / copy data into yellow cells
Step 4: Enter / copy depreciation bought forward
Step 5: Check data
Copying dates from Excel for Mac version 2008 or earlier
Assumed Knowledge
This chapter assumes you are already familiar with the following:
How to copy & paste in your version of Excel.*
How to protect & unprotect worksheets in your version of Excel.
*You need to use 'Paste Special' which is explained in the manual.
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Step 1: Set up the program
You must set up the fixed asset program before entering data from your current fixed asset
spreadsheet.
To set up the fixed asset program:
Click the button 'Setup' on the home page.
In the 'Setup' menu click each button in turn and enter the required data.
Note that if the currency of your country requires 2 decimal places, you only need select
'Amounts: 2 decimal places' if you have previously selected 'Amounts: no decimal places' in
the 'Setup' menu. The is because by default the program shows amounts to 2 decimal places.
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Step 2: Insert rows
Click the button 'Fixed Assets' on the home page.
For each fixed asset category:
Click the button which corresponds to the fixed asset category where you want to insert rows:
Click the button 'New Row' to insert the number of rows which corresponds to the number of
rows in your current fixed asset spreadsheet for the asset category:
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Step 3: Enter / copy data into yellow cells
Introduction
Read the first 3 sub sections:
What data to enter from your current fixed asset spreadsheet
How to enter data from your current fixed asset spreadsheet
Copy & Paste instructions
You only need to consult the other sub sections listed below for clarification or to deal with
specific issues / problems:
Copy & Paste issues & problems
Fixed Asset Revaluations
Fixed Asset Impairments
Year 1 Depreciation Charge
Note that the depreciation charge may not be calculated correctly for all assets until steps 3 &
4 are completed.
What data to enter from your current fixed asset spreadsheet
From your current fixed asset spreadsheet, only enter data that corresponds to the yellow cells
in the fixed asset program. For example do not copy the the depreciation charge from your
current fixed asset spreadsheet as there are no yellow cells for this (the fixed asset program
automatically calculates the depreciation charge).
Note that data does not have to be entered in all the yellow cells. However, the following
yellow cells must have an entry for the fixed asset to be registered:
Date
Description
Cost / Value
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If depreciation is to be calculated, the following cells must also be completed:
Year 1 Depreciation Months
Year 1 Depreciation Month of Purchase Included (Yes / No)?
Depreciation Method
Useful LifeDepreciation Rate % (only if declining balance method is selected)
The following yellow cells have a default entry and you will only need to change these if
necessary:
Year 1 Depreciation Months
Year 1 Depreciation Month of Purchase Included (Yes / No)?
Depreciation Method
Useful Life
Depreciation Rate % (only if declining balance method is selected)
The default entries in the yellow cells will only need to be changed in the following situations:
If you charge partial depreciation in year 1 or your accounting period does not equal 12
months, then you will need to change the number of months registered in the 'Year 1
Depreciation Months' column.
If you charge partial depreciation in year 1 and you do not count the month of purchase
then you will need to select No in the column 'Year 1 Depreciation Month of Purchase
Included (Yes / No)?'.
Go to section 'Year 1 Depreciation' at the end of this section for further details.
If you need to apply a depreciation policy to a fixed asset that is different from the
depreciation policy applied to the category:
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How to enter data from your current fixed asset spreadsheet
Where possible the quickest & most reliable method is to use copy and paste (special). This is
explained in the next sub section 'Copy & Paste Instructions'. However, it is not recommended
that you copy & paste into the yellow cells listed below as they have drop down lists and you
must only enter content that corresponds exactly to a selection in the the drop down list:
Year 1 Depreciation Months
Year 1 Depreciation Month of Purchase Included (Yes / No)?
Cost Centre / Department
Depreciation Method
Of course you can opt to manually enter all of the fixed asset data into the program. If you do
this with the fixed asset purchase dates, a warning message will appear when entering assets
prior to the current accounting period. When the warning message appears, click 'Yes' to
confirm the date*:
*the warning message appears to prevent incorrect dates being entered in the case of new
fixed assets.
Copy & Paste instructions
Open your current fixed asset spreadsheet.
Open the fixed asset program using the same instance of Excel that was used for your currentfixed asset spreadsheet i.e. do not click the Excel icon again to open the fixed asset program.
For each column in your current fixed asset spreadsheet that is to be copied & pasted:
Copy the data in the column (e.g. dates):
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Select the fixed asset program.
Select the first yellow cell of the corresponding column in the fixed asset program (e.g. the
date cell):
Select the Excel function Paste Special...
(In Excel 2003 or earlier, 'Paste Special' appears in the Edit Menu. In Excel 2007 or later, 'Paste
Special' appears by clicking in the drop down arrow below the 'Paste'icon).
A dialogue box will appear (see image below).
Select Values.
Click OK.
If you experience any problems with copy & paste, consult the sub section below:
Copy & Paste issues & problems
If the following paste special dialogue box appears instead of the dialogue box depicted
above:
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This is because you have opened the fixed asset program & your current fixed asset
spreadsheet using separate instances of Excel. Close both spreadsheets and open the fixed
asset program & your current spreadsheet with the same instance of Excel.
If the purchase dates pasted into the fixed asset program are different from the dates in your
current fixed asset spreadsheet:
This is is because your current fixed asset spreadsheet was developed in Excel for Mac version
2008 or earlier which uses a date system that is different from the date system used in your
current version of Excel. To correct this issue go to the final section of this chapter 'Copying
dates from Excel for Mac version 2008 or earlier'.
If you are using Excel for Mac and a warning message appears The workbook you are
pasting to uses a different date system:
This is is because your current fixed asset spreadsheet was developed in Excel for Mac version2008 or earlier which uses a date system that is different from the date system used in your
current version of Excel. You should click 'Convert'. This is explained in more detail in the final
section of this chapter 'Copying dates from Excel for Mac version 2008 or earlier'.
Fixed Asset Revaluations
If an asset has been revalued & no historic depreciation is being charged:
In the cost / value column (column F), enter the revalued amount.
If an asset has been revalued & historic depreciation is being charged:
In the cost / value cell (column F), enter the purchase price.
Go to the cost brought forward cell (column AL).
Unprotect the worksheet (there is no password).
Overwrite the purchase price with the revalued amount.
Protect the worksheet (without a password).
For further details about fixed asset revaluations go to the chapter 'Revaluation of Fixed
Assets'.
Fixed Asset Impairments
If an asset has incurred an impairment loss & no historic depreciation is being charged:
You can reflect the impairment loss either in the cost / value cell (column F) or in the
accumulated depreciation brought forward cell (see step 4).
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If an asset has incurred an impairment loss & historic depreciation is being charged:
You must reflect the impairment loss in the cost / value cell (column F) in order that the
depreciation charge is calculated correctly.
If the impairment loss was originally charged to accumulated depreciation, then you will alsoneed to enter the original purchase price of the asset in the cost brought forward cell (column
AL):
Go to the cost brought forward cell (column AL).
Unprotect the worksheet (there is no password).
Overwrite the amount (after impairment) with the purchase price.
Protect the worksheet (without a password).
For further details about fixed asset impairments go to the chapter 'Impairment of Fixed
Assets'.
Year 1 Depreciation Charge
If you charge full depreciation in the year of purchase:
You should not normally have to do anything! The default entries in the yellow cells 'Year 1
Depreciation Months' & 'Year 1 Depreciation Month of Purchase Included (Yes / No)' are the
correct entries to register full depreciation in the year of purchase for a 12 month accounting
period. You will only need to change the entry in the yellow cell 'Year 1 Depreciation Months'
in the unlikely event that your accounting period is greater or less than 12 months.
Full Year Depreciation Convention:
If you charge full depreciation in the year of purchase, the fixed asset program assumes no
depreciation charge in the year of disposal.
If you charge partial depreciation in the year of purchase:
Go to the cell 'Year 1 Depreciation Months'.
Enter / select the number of months of depreciation you want to charge.Go to the cell 'Year 1 Depreciation Month of Purchase Included (Yes / No)'.
Select 'Yes' if you included the month of purchase in the 'Year 1 Depreciation Months'.
Select 'No' if you excluded the month of purchase in the 'Year 1 Depreciation Months'.
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Partial Depreciation Convention:
If you charge partial depreciation in the year of purchase and the month of purchase is
included ('Yes' is selected), no depreciation is charged in the month of disposal.
If you charge partial depreciation in the year of purchase and the month of purchase isexcluded ('No' is selected), depreciation is charged in the month of disposal.
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Step 4: Enter depreciation brought forward
Open the fixed asset program.
Click the 'Fixed Assets' button on the home page.
For each fixed asset category:
Click the button that corresponds to the asset category.
Go to the first cell of the accumulated depreciation brought forward column (column AU10).
Unprotect the worksheet (there is no password).
If possible copy and paste special the depreciation brought forward amounts (see instructions
below) or enter the data.
Protect the worksheet (without a password).
Important:
Do not copy and paste accumulated depreciation carried forward as this is automaticallycalculated by the program.
Copy & Paste Instructions
Open your current fixed asset spreadsheet using the same instance of Excel that was used to
open the fixed asset program i.e. do not click the Excel icon again to open your existing
spreadsheet.
In your current fixed asset spreadsheet Copy the accumulated depreciation brought forward.
Go to the fixed asset program and select Paste Special...
(Step 3 explains how to access 'Paste Special' in your version of Excel)In the 'Paste Special' dialogue box select Values.
Click OK.
Protect the worksheet (without a password).
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Step 5: Check for errors
There are two checks you should perform to confirm that you have entered the fixed asset data
correctly into the fixed asset Program. Check 1 should be carried out before check 2.
Check 1: Error Messages
Open the fixed asset Program.
Click 'Fixed Assets' on the home page.
For each fixed asset category:
Click the button that corresponds to the asset category you want to check.
Go the column Input Error Messages (column AE).
Check that there are no error messages.
If an error message appears for any asset, correct the error identified by the message:
Note that assets which have input error messages are not registered in the program.
Check 2: Net Book Values
Open the fixed asset program.
Click 'Fixed Assets' on the home page.
Click 'Summary of fixed asset movements'.
Print the report 'Summary of fixed asset movements'.
Confirm that the total net book value(s) at the year end corresponds with the total net book
value(s) according to your current fixed asset spreadsheet:
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If the total carried forward net book value(s) registered in the fixed asset program and your
current fixed asset spreadsheet do not agree, not all the data has been entered correctly. In the
report look at the cost and accumulated depreciation carried forward for each asset category
and compare this with the corresponding amounts in your current fixed asset spreadsheet.
This will help identify where the data has not been entered correctly:
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Copying dates from Excel for Mac version 2008 or earlier
An issue arises when copying and pasting dates if your current fixed asset spreadsheet was
created in Excel for Mac version 2008 or earlier but you are now currently using:
Excel for Windows
or
Excel for Mac for version 2011 or later
The following sub sections deal in turn with Excel for Windows & Excel for Mac version 2011 or
later:
If you are now using Excel for Windows
What happens when you copy and paste the dates
The dates that are pasted into the fixed asset program are shifted by four years and one day.
Why the problem occurs
This is due to the different date systems used by Excel for Windows and Excel for Mac version
2008 & earlier. Excel for Windows calculates dates by counting the days from January 1, 1900.
Excel for Mac version 2008 & earlier calculates dates by counting the days from January 1,
1904.
To correct the dates:
Open a blank worksheet.
In an empty cell type 1462
Open the fixed asset program.
(using the same instance of Excel used to open the blank worksheet)
Then for each fixed asset category:
Copy the cell containing 1462.
Select the dates in the fixed asset program:
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Select Paste Special...
(Step 3 explains how to access 'Paste Special' in your version of Excel)
In the 'Paste Special' dialogue box select Values.
In the 'Paste Special' dialogue box also select Add.
Click OK.
The dates in the fixed asset program should now appear correctly.
If you are now using Excel for Mac version 2011 or later
What happens when you copy and paste the dates
A dialogue box appears which says:
The workbook you are pasting to uses a different date system.
Why this dialogue box appears
This is due to a new date system introduced in Excel for Mac version 2011. Excel for Mac
version 2011 or later calculates dates by counting the days from January 1, 1900. Excel for Mac
version 2008 & earlier calculates dates by counting the days from January 1, 1904. This will
result in the copied and pasted dates to differ by 4 years and 1 day.
What you should do
When the dialogue box appears you should click 'Convert'.
This will ensure that the dates pasted in the fixed asset program correspond with the dates in
your current fixed asset spreadsheet.
For more information
Click in the link below:
http://www.officeformachelp.com/2010/10/excel-2011-defaults-to-1900-date-system/
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