ASSET TAKE ON VIA ‘.CSV’ IMPORT XPA - … · When you have selected both the XPA ledger and asset data ‘.csv’ file, click the ‘ Import Asset Register’ button to start

ASSET TAKE ON VIA ‘.CSV’ IMPORT VERSION 1

Asset Take On via ‘.csv’ Import |

Reckon Limited | PAGE 2 OF 13

Disclaimer

Every effort has been made to ensure the accuracy and completeness of this manual. However, neither Reckon Limited, its subsidiaries, employees and agents, cannot be held liable for any errors or omissions. This document should not be relied on as a detailed specification of the system. In addition, Reckon Limited reserves the right to issue revisions, enhancements and improvements to Reckon APS software at any time without notice. Every effort will be made to ensure that the manual is updated concurrently and that the user is not inconvenienced as a result of any change.

Author

Created and Published by Reckon Limited Level 12, 65 Berry Street North Sydney NSW 2060 ACN 003 348 730 All Rights Reserved Copyright © 2014 Reckon Limited

Copyright

No part of these materials may be reproduced or transmitted in any form or by any means, including photocopying, without written permission of Reckon Limited.



Contents

Disclaimer ............................................................................................................................... 2

Author ...................................................................................................................................... 2

Copyright ................................................................................................................................ 2

Contents .................................................................................................................................. 3

Important ................................................................................................................................. 4

Overview ................................................................................................................................. 4

What files are required........................................................................................................... 5

What asset data is imported? ............................................................................................... 5

Before you Start! .................................................................................................................... 5

The ‘.csv’ File Format (Layout) ............................................................................................. 6

Importing Assets from the ‘.csv’ File ................................................................................... 7

Selecting the XPA Ledger ..................................................................................................... 7

Selecting the Asset ‘.csv’ File ............................................................................................... 8

Importing the Asset Data ...................................................................................................... 9

Integration of the Assets in XPA ........................................................................................ 11

Current Year Asset Transactions ....................................................................................... 13

Reconcile the Assets ........................................................................................................... 13



Important

Please take the time to read this document before commencing with the Asset Take-On Process. This document assumes that you have a working knowledge of Xcede Professional Accounting.

Overview

The Asset Take-On query is useful when setting up new ledgers and to import assets into the new ledgers.

The Asset Take-On query can only be used if:

1. there are no existing assets in the XPA ledger 2. The asset data can be extracted from the current client file. 3. Microsoft Access runtime 2007 or above is installed on your workstation.

A .csv file containing the Asset Data must be setup prior to commencing with The Asset Take-On query. The .csv file is set up by extracting the Asset Data into Excel, manipulating the format and then saving the document as a .csv file.

The Asset Data will be imported from the .CSV file into the XPA ledger using the Asset Take-On query.

The assets are set up as comparative assets only – no current year assets can be imported. Only 1 year of comparative Asset Balances can be imported.



What files are required?

The Asset Take-On package includes the following:

• Assets_TakeOn_ExampleExcelSheet.xls – This spreadsheet is an example of the starting point for your .csv file format. Asset Data can be imported into Excel, the data structure then manipulated to the correct format and saved to a .csv file.

• Example .csv files: Asset TakeOn_Examplecsvfile.csv. This file is viewed using MS Notepad.

• AssetTakeOn.mde – This database contains the Import Data table and the queries that will be imported into the Xcede Professional Accounting File.

• AssetTakeOn_DemoFile.XPA – This is a file which can be used to work through the example. Profit/Loss and Balance Sheet balances as the end of the Comparative Year have been entered and all Asset Account balances have been coded to 998. This includes Cost Accounts and Accumulated Depreciation accounts. The asset groups have been set up.

What asset data is imported?

The asset take on query will import the asset data for the comparative assets only and will set them up as Opening Balances in the current year in XPA. XPA will then calculate depreciation for the current reporting period.

Any current year asset transactions will not be imported and these transactions need to be entered into the XPA Asset ledger once the take on has been completed.

These transactions include:

• Assets purchased in the current year.

• Additions made to assets in the current year.

• Part Sales and Full Sales made in the current year.

Before you Start!

Prior to starting the Asset Take-On Tool you must ensure that you have completed the Trial Balance Take-On up to the point of adding the Assets.

Prior to running the queries ensure that:

• You have created the new file in Xcede Professional Accounting.

• You have completed the Trial Balance Take-On*, i.e. ALL Profit/Loss and Balance Sheet Balances must have been entered. Entering all asset account balances to 998 (Asset Suspense). This includes Cost Accounts and Accumulated Depreciation Accounts.

• The Asset Groups have been set up with the correct accounts

• The .csv file that will be used to import the data from is in the format set out below.

• Microsoft Access runtime 2007 or above is installed on your workstation.

*For more details on the Trial Balance Take-On refer the “Trial Balance Take-On Tutorial”.



The ‘.csv’ File Format (Layout)

• The Asset Group Code and Asset Code should be in text format so that the code will display as “001”.

• The Asset Group Code must match the XPA Asset Group Code. Open the client ledger and confirm the Asset Group codes that have been used (i.e. do not assume that Reckon APS standard codes were used)

• The description column must not contain any commas. You may want to use the Find feature in Excel to locate any records with commas and remove it.

• All date formats must be in the format: dd/mm/yyyy.

• All monetary values for the assets should be in General format so as not to have comma separators in the values e.g. 1,000.00

• The depreciation rate (DepRate) and private use rate (PURate) must be in the format as shown above i.e. 40 and not 0.4. If the asset is not depreciated the value must be 0 and not left blank.

• DepMethod: D = Diminishing Value Method, P = Prime Cost Method

• DepCalc: D = Daily Basis, P = Periodic Basis

• If the asset does not have private use depreciation then the value must be 0 and not left blank.

• As advised previously, current year asset purchases will not be processed during the take on. However, setting these new assets up in the csv file with a description, acquisition date, but a NIL COST will ensure that the assets are created in the Asset Ledger. Then after the take on is completed the initial cost can be entered into the asset ledger for these assets. This is faster than having to set up the new assets from scratch.



Importing Assets from the ‘.csv’ File

Selecting the XPA Ledger

In Step 1, click on the ‘Select XPA Ledger’ button. This will launch a Windows file screen. Navigate to where the XPA ledger is located and either, double click the file name or click the ‘Open’ button to select the XPA ledger.

If you are not sure where the XPA ledgers are located, please refer to your XPA Champion.

Once the XPA ledger has been selected, the name will appear below the ‘Select XPA Ledger’ button in grey text.



Selecting the Asset ‘.csv’ File

In Step 2, click on the ‘Select Asset Register File’ button to select the ‘.csv’ file created with the asset data. This will launch a Windows file screen. Navigate to where the ‘.csv’ file was saved and either, double click on the file name or click on the ‘Select’ button to select the ‘.csv’ file.

Once the ‘.csv’ file has been selected, the name of the file will appear in grey text underneath the ‘Select Asset Register File’ button.



Importing the Asset Data

When you have selected both the XPA ledger and asset data ‘.csv’ file, click the ‘Import Asset Register’ button to start the import process.

Once the button has been clicked, you will receive a confirmation message asking you to confirm that you want to start the process.

To proceed with the import, click ‘Yes’ and to cancel the process click ‘No’. When ‘No’ has been selected the process is cancelled, no data is imported into the XPA ledger.



If you click ‘Yes’, the process will start and will continue until it has completed. Once the process is finished, the following message will appear.

Click ‘OK’ to complete the process.



Integration of the Assets in XPA

Open the ledger in Xcede Professional Accounting.

The integration process needs to be completed to synchronise the Asset Ledger and General Ledger.

Go to Assets | Asset Suspense.

Enter the Asset Suspense account code if it is not set up on the ledger and click the ‘OK’ button to continue.

Go to Assets | Asset Groups.



Single click on the Asset Group so that it is highlighted. Click on the ‘Integrate’ button to integrate the Asset Ledger with the General Ledger.

A message box will pop up asking you to confirm the integration.

Select ‘Yes’ to continue. The next message box is asking you to confirm which values you wish to integrate with the general ledger.

Select ‘Yes’ to integrate the Asset Tax Values OR select ‘No’ to integrate the Asset Book Values. Select the appropriate answer to continue.

Check that the Contra Account is correct i.e. = Asset Suspense account and select ‘OK’ to integrate the Asset Group. This process must be repeated for each Asset Group.



Current Year Asset Transactions

If the ledger contained any current year asset transactions, the total value of these items will still be in the Asset Suspense account.

These transactions must now be entered into the Asset Ledger in XPA, which will then contra and clear the Asset Suspense account balance.

Reconcile the Assets

Once all Asset Groups have been integrated and all current year transactions have been processed the Assets should all form part of the Asset and General Ledger correctly. To verify this we recommend that you immediately generate a Trial Balance and a Depreciation Schedule and reconcile these values against the original data contained in the spreadsheet.

Documents

ASSET TAKE ON VIA ‘.CSV’ IMPORT XPA - … · When you have selected both the XPA ledger and asset data ‘.csv’ file, click the ‘ Import Asset Register’ button to start