Fixed asset value model and depreciation book merge

This article describes the current book functionality in Fixed assets. This functionality is based on the value model functionality that was available in earlier versions, but it also includes all the functionality that was previously provided only in depreciation books.

Book functionality lets you use a single set of pages, inquiries, and reports for all your organization's fixed asset processes. The tables in this article describe earlier functionality for depreciation books and value models, together with current functionality for books.

Setup

By default, books post to both the general ledger (GL) and the fixed asset subledger. Books have a new Post to general ledger option that lets you disable posting to the General ledger and post only to the Fixed asset subledger. This functionality resembles the earlier posting behavior for depreciation books. The journal names setup has a new posting layer that is named None. This posting layer was added specifically for fixed asset transactions. To post transactions for books that don't post to the General ledger, you must use a journal name that has the posting layer set to None.

	Depreciation book	Value model	Book (New)
Post to the General ledger	Never	Always	Option to post to the General ledger
Posting layers	Not applicable	3: Current, Operations, and Tax	11: Current, Operations, Tax, 7 custom layers, and None
Journal names	Depreciation book journal names	General ledger - Journal names	General ledger - Journal names
Derived books	Not allowed	Allowed	Allowed
Depreciation profile override at the asset level	Allowed	Not allowed	Allowed

Processes

Processes now use a common page. Some processes are allowed only if the Post to general ledger option is set to No in the book setup.

	Depreciation book	Value model	Book (New)
Transaction entry	Depreciation book journal	Fixed asset journal	Fixed asset journal
Bonus depreciation	Allowed	Not Allowed	Allowed
Delete historical transactions	Allowed	Not Allowed	Allowed, unless you're posting to the GL
Mass update	Allowed	Not Allowed	Allowed, unless you're posting to the GL

Inquiries and reports

Inquiries and reports support all books. Reports that aren't included in the following table previously supported both depreciation books and value models, and will now continue to support all book types. The Posting layer field has also been added to reports, so that you can more easily identify the transaction postings.

	Depreciation book	Value model	Book (New)
Inquiries	Depreciation book transactions	Fixed asset transactions	Fixed asset transactions
Fixed asset statement	Not allowed	Allowed	Allowed
Fixed asset basis	Allowed	Not allowed	Allowed
Fixed asset mid-quarter applicability	Allowed	Not allowed	Allowed

Upgrade

The upgrade process will move your existing setup and all your existing transactions to the new book structure. Value models will remain as they currently are, as a book that posts to General ledger. However, depreciation books will be moved to a book that has the Post to General ledger option set to No. Depreciation book journal names will be moved to a General ledger journal name that has the posting layer set to None.