Course Context The Equipment Register module has been enhanced to also provide Asset Management functionality. This course will ensure you are aware of what ledger codes, cost centres and parameters are required so that the correct accounting entries are recorded. These will be automated as you add assets and run the depreciation process. This will enable the recording of assets and depreciation to be applied against them.
Pre-requisites It is desirable but not essential that you have an understanding of FMS basics such as order processing. You also should ideally have knowledge of the accounting policies adopted by your school.
How will I benefit? You will be able to manage and maintain an Asset Register for your school to provide easier administration of accounting procedures.
What will I learn?
- Identify the processes required to ensure that the asset register reflects the current position of all assets in school, for example, assigning a financial value to an asset and the journal entries associated with Asset Management
- Defining asset types and depreciation modes
- Undertaking an annual depreciation
- Retiring an asset
- Access reports and reviewing facilities to allow full accountability for items at all times
Who should attend? Suitable for staff responsible for recording and maintaining the school fixed asset inventory.