Fixed Asset Program Manual

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 Life Depreciation 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 current fixed 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 version 2008 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 also need 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 is excluded ('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 automatically calculated 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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