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In-Year Capex ($) - Changes / Amendments

Up until version 1.6.12, if a user enters a value in the In Year Capex ($) field manually or via data import, then the Financial Reconciliation Report use to report the capex value in the 'Other' section of the FR report.

 

From version 1.6.12 on-wards, we have changed the reporting mechanism and the FR report will no longer report on the capex ($) if it has been entered manually and/or by data import.

History

If the value gets populated into the in year capex ($) field manually or automatically by doing an in year treatment on the asset or asset component, then the user can report these values in the FR report.

 

Suppose, if a user has performed an in year transaction on an asset in FY 2015 (which will add a value in the in year capex field) or have added the value manually into the in year capex field, then they have rolled over the system to the new FY (FY 2016).

 

While doing the financial year roll over, the value in the in year capex field gets wiped off.

 

This is to allow the user to do an another transaction (capex) in the new financial year.

 

If then, the user runs the FR report for the previous FY (FY 2015), the capital transactions performed in previous financial year are not reported in the FR report.

 

So the user has to manually do further excel reports if they want to check and reconcile on the capex $.

Issue

  • As mentioned, user does not get the correct values in the FR report if run for the previous financial year.

Rectification

To allow the user to get the correct reports for previous FY (with correct capex $$), we now use the archive rows (created as a part of in year treatment) to be reflected/reported in the FR report.

 

In doing this, the only value that gets reported form the in year capex ($) field are the ones done via in year treatment tool.

 

This is because, myData creates archive records with specific time-stamps on performing the in year transaction on an asset or asset component.

 

Therefore from version 1.6.12 on-wards, if a user populates the capex field manually and/or via data import, it will not be reported in the AFR.

Steps for reporting In Year Capital Works

To reconcile the capital works:

  • If Added via in year transaction and/or
  • If added via data import and/or
  • If added manually
  1. User needs to run the At Cost Transaction report. This report will show the Capital Addition and the same value will be reported in FR report in Capex section.
  2. User also needs to run Asset Addition report to report on those assets that have been added manually and/or via data import (but are capital additions) and need to populate the recognition type either as 'Purchased' or 'Constructed'
    1. Then the addition report can be grouped by 'Acquisition Type' to differentiate between capital addition, found assets, donated assets and existing assets.

 

For further explanation, please feel free to contact us at support@assetic.com

 

*FR - Financial Reconciliation Report