[AU] How to use fixed assets automation with Active Ledger & Reporting

Article Objective: To assist users in navigating the Active Platform to effectively use the fixed assets automation with Active Ledger & Reporting. 

Context: The fixed assets automation will pre-populate the 'G10 Fixed Assets Reconciliation' template with the data for each asset group from Active Ledger & Reporting, including:
  1. Total Cost
  2. Total Accumulated Depreciation
  3. Depreciation for the period
  4. Proceeds from any disposals during the period
  5. Balancing adjustments (if tax depreciation method is used)

Please refer to the Glossary for definitions of key terms used in this article. 

Before using the fixed asset automation feature

Before inserting the 'G10 Fixed Assets Reconciliation' template into your binder, ensure that you have done the following 3 steps:

1. From the clients Active Ledger & Reporting file, navigate to the 'Assets' tab on the left-hand side of the screenFrom here, click the cog to the right of the relevant asset group to nominate the appropriate general ledger accounts against all your asset groups   

2. Post the depreciation journals for the year to the general ledger by selecting Post Automated Journals 

3. Ensure the binder within Active Workpapers is linked to the relevant Active Ledger & Reporting file as a source. 

Using the fixed asset automation feature

In the trial balance section of the Active Workpapers binder, click on 'Accept' on the 'G10 Fixed Assets Reconciliation' recommendation on any of the fixed asset accounts. 

In the newly inserted 'G10 Fixed Assets Reconciliation' workpaper, you will then be able to see all the fixed assets data prepopulated from Active Ledger & Reporting.

You will also notice that where there are more than one fixed assets ledger account, the automation process will immediately link this worksheet to all of them, including the relevant profit & loss accounts.

In the 'Notes/Hyperlinks' sections towards the right of the worksheet, you will also notice the links which can help you navigate back to the relevant asset group in Active Ledger & Reporting if you need to review the details of each asset group.

If, after inserting the 'G10 Fixed Assets Reconciliation' into your binder, you've gone back to Active Ledger & Reporting to update any fixed asset data, you can simply refresh the data in the worksheet by clicking on the Refresh Data Feed button. 

Note: The 'G10 Fixed Assets Reconciliation' is not a fixed asset register.

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