Wiki Detay | wiki workcube

Valuations are made for fixed assets on Workcube with different depreciation methods. At the same time, the current value of the fixed asset can be determined based on the value increases and decreases for the fixed assets that have been subject to valuation.

Fixed Asset

In Workcube, fixed assets can be valued with normal depreciation and decreasing balance depreciation methods. Repair and maintenance operations can be applied to a fixed asset. Expenses for repair and maintenance of fixed assets may contribute positively to the value of the relevant fixed asset. At the same time, repair and maintenance expenses for a machine can also extend the useful life of the relevant fixed asset.

Process Flow

Stage	Module / Document	Description
1. Expenditure Entry	SCM / Purchase Invoice & Service Receipt	After maintenance and repair service or spare parts supply, expenses are recorded in the system.
2. Expenditure and Asset Matching	Fixed Asset / Maintenance Expenses List	Maintenance expenses entered are associated with the relevant physical asset and fixed assets on a line basis.
3. Filtering and Analysis	maintenance_valuation.cfm	Target records are listed by filtering according to the Branch, Project and Valuation Status (Value Increased / Not Increased) criteria.
4. Valuation Event Trigger	invent.valuation (Popup/Event)	By clicking on the cube icon in the relevant asset row, the add process is started.
5. Financial Update	Accounting / Depreciation Calculation	When the value increase is approved, the asset card is updated and the depreciation table is reshaped based on the new cost.

Before you start First

In order to carry out the increase and decrease in value of fixed assets, a maintenance voucher for the relevant physical asset must first be created. For this reason, the process category definitions regarding the maintenance ticket must be completed.

Path: BPM > Transaction Categories

Value Increasing Transaction checkbox is selected. Then, maintenance tickets are created with this transaction category. In this way, the relevant physical asset is listed on the Maintenance and Repair Expenses that Cause Increase-Decrease in Value listing page.

Attention

When creating Maintenance Receipts, an association with the physical asset must be made. Association can be made from the "Physical Asset" field in the Maintenance Receipt basket.

First, create a fixed asset purchase invoice. Determine the useful life and depreciation rates of the fixed asset you created. After completing this process, you must convert the relevant fixed asset into a physical asset.

Let's examine the fixed asset record on an example below.

In the example above, our fixed asset value can be seen as 10,000 TL. Its useful life is 5 years and the depreciation rate is 20%. A depreciation of 2,000 TL must be allocated for this fixed asset every year. Since the calculation period is selected as 1, it will be evaluated once every year. After the first valuation period, the value of the relevant physical asset will change to 8,000 TL.

Let's complete the valuation process of the relevant fixed asset for 2022.

When the fixed asset was valued in 2022, its new value was updated to 8,000 TL. Let's assume that a maintenance has been done to this Physical asset after the valuation process. Let's assume that the electronics of this embroidery machine have been replaced. Accordingly, let's create a Repair and Maintenance Voucher for the relevant physical asset.

Path: PAM > Assets > Repair - Maintenance Voucher

A repair and maintenance voucher for the relevant physical asset. was created. As a result of this maintenance, there was an increase in the value of the relevant physical asset. For this reason, there has been a change in the value of the relevant physical asset. Let's continue the process on the maintenance and repair expenses page that causes increase - decrease in value.

Attention

You must create a maintenance voucher in order to list the relevant physical asset on the maintenance and repair expenses page that cause increase - decrease in value.

Since we have created a maintenance voucher for our physical assets, maintenance and repair expenses that increase or decrease in value can now be listed on the listing page. You can create a new record by clicking on the cube icon in the last column of the line. The new registration page consists of two parts. In the first section, there is information about the relevant physical asset and the Value increase - decrease account field.

The last value of the fixed asset and other information about valuation methods can be seen in the Value Increase - Decrease account field. There are two options in the Calculation Method field.

Create a new fixed asset related to the fixed asset: A new fixed asset is created from scratch by taking the repair & maintenance expenses of the physical assets related to the fixed asset. Just like in the fixed asset purchase invoice.
Reset the fixed asset and create a new fixed asset: Repair & maintenance expenses of the physical assets related to the fixed asset are collected. A new fixed asset is created by adding the total expenditure + the last value of the fixed asset spent . Depreciation is made up to the last value of the relevant physical asset and the value of the old fixed asset is reset to zero.

Values of the fixed asset can now be defined according to the determined calculation method.

1.Create a new fixed asset related to the fixed asset According to the method, information about the new fixed asset to be created is defined. In this example, there is no increase in the depreciation period and useful life, only an increase in the value of the relevant fixed asset. After clicking the record button, the newly created fixed asset can be examined by going to the fixed assets list.

Since the value increase is achieved with the new asset creation method, the first created asset will continue to be listed. The final value of this fixture can be seen as 8,000 TL. Because this asset is a registered asset that has not been maintained.
Similarly, since a new asset has been created for the asset, the newly created asset number 2 can be displayed in the fixed assets list. If you pay attention, this is now a completely new fixed asset and the final value of the newly created fixed asset is 8,500 TL, which is the increased value with the maintenance voucher. In this method, a new fixed asset is created by adding the expense amount to the last value of the fixed asset that has been maintained, and the values of the existing fixed asset used in this process are reset.
The last value of our relevant fixed asset was 8,000 TL before it was reset. After the new value was determined as 9,500 TL, the old fixed asset was reset to zero. A new fixture worth 17,500 TL was created by adding the final value of the old fixture + the expense amount. The new fixed asset, which you can see in the image below, was actually created by adding the value of the old fixed asset to which we increased the value

Feedback

Did you find this content helpful?

Please Write Your Feedback!

Name*

Last Name*

Email *

About Workcube Objects

Maintenance and Repair Expenditures that Provide Value Increase-Decrease

It is used to record maintenance and repair expenses that affect the value and life of a business's assets. These expenses extend the useful life of the fixed asset, increase its capacity or significantly improve its efficiency. These expenses are added to the original cost of the asset and are depr...

Type: WBO Version: Holistic vteta Licence: Standard Author: Workcube Core