Video: How To Make Adjusting Journals in AssetAccountant™ – No Rollbacks Required

October 5, 2020
Posted by: admin

How To Make Adjusting Journals in AssetAccountant™ – No Rollbacks Required!

The video above briefly demonstrates a powerful feature of AssetAccountant™ – its automatic calculation of adjusting journals.  Make as many changes to an already posted journal period as you like, and AssetAccountant™ will keep up with you.

Depreciation calculations and journals for both tax and accounting methods is made easy

  • AssetAccountant™ is a comprehensive cloud-based fixed asset register for managing depreciation developed by Accountants for Accountants.
  • AssetAccountant™ combines sophisticated interpretation of Tax and Accounting rules with a modern user interface design, to simplify the process of creating and maintaining fixed asset registers.

  • AssetAccountant™ is priced to suit accounting firms and businesses of all sizes.
  • AssetAccountant™ is currently available in Australia and New Zealand.

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Video: AssetAccountant™ Overview

AssetAccountant Explainer Video
October 5, 2020
Posted by: admin

70 seconds explains AssetAccountant™ – “We’ve mastered Depreciation So You Don’t Have To”

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Video: A Fixed Assets Register for Depreciation setup in < 1 minute ⌚

October 5, 2020
Posted by: admin

How To Setup a Fixed Asset Register in AssetAccountant™ in Under 1 Minute

The video above will give you a fast introduction to the powerful AssetAccountant™ fixed asset register software.

You’re an accountant who LOVES managing Fixed Asset Registers…

Probably not.

Setting up and managing fixed assets registers is a chore not many accountants confess they enjoy.

Typically, Excel spreadsheets are used.

Which is fine if the asset register is quite simple with clearly defined asset groups and relatively simple tax depreciation methods being used with not a lot of acquisitions and/or disposals.

But add a few other complexities like:

  • Multiple users in multiple locations,
  • Maintaining tax AND accounts Written Down Values for each asset.
  • Components / splits,
  • Use of Low Value or Small Business Pools,
  • Updated tax rules,
  • Complex formulas and macros,
  • Staff churn,
  • Updates and rollbacks to completed journals.

Just to name a few.

It can make an already arduous job more painful.

There are also a few antiquated Windows only desktop software pieces still in use to manage a business’s depreciation calculations.

Opening these up is like entering a time warp – as far back to when Sydney hosted the Olympic games…

Alternatively:

AssetAccountant™ is the Southern Hemisphere’s first fully featured, truly cloud-based depreciation engine made for accountants that manages even the most complex FARs.

Shareable, scalable and always updated.

A register can be uploaded to the platform in under 1 minute.

Depreciation calculations and journals for both tax and accounting methods is made easy

  • AssetAccountant™ is a comprehensive cloud-based fixed asset register for managing depreciation developed by Accountants for Accountants.
  • AssetAccountant™ combines sophisticated interpretation of Tax and Accounting rules with a modern user interface design, to simplify the process of creating and maintaining fixed asset registers.
  • AssetAccountant™ is priced to suit accounting firms and businesses of all sizes.
  • AssetAccountant™ is currently available in Australia and New Zealand.

Request a Demo, register for a Webinar, secure a Free Trial

Or just call our friendly team
on 1300 984 378

How can we help you?


Video: How To Add Asset Groups To AssetAccountant™

October 5, 2020
Posted by: admin

How To Add Asset Groups To AssetAccountant™ – Transcript

We’re going to show you how to add one or more asset groups into the AssetAccountant™ software.

Now you may want to add just a single asset group with your own particular depreciation details to it, or I’m going to show you also, we have seven or eight pretty standard templates that you can use, and very simply copy across to your asset register.

When using, or setting up AssetAccountant™ for the first time, or even if you’re partway through using AssetAccountant™ and for whatever reason, you decide that you need to add one or more asset groups, the process is quite simple and I’ll show you now.

How to Add Asset Groups To Your Asset Register

This is the home screen, the dashboard, and on the tab menu up here, you can see asset groups. If I click there, you’ll see, I currently have three asset groups set up. I’ve got motor vehicles, office equipment at cost and gym equipment at cost. You might notice gym equipment is not a standard asset group. AssetAccountant™ allows you to create or import as many different asset groups as you want to.

I’m going to set up a new asset group. It is as simple as visiting the top tab, asset groups and add. Now you’ve got two options here. I’ll show you the first one, which is new asset group. I’ll come to this one later – adding asset groups from a template. If I add a new asset group here, you can call your new asset group whatever you like and give it a description.

Now you can choose a reporting category. You can choose whether there’s capital gains tax to be applied with the checkbox. The capital allowance – we’ll select “other tangible assets”. You’ve got the three options here and motor vehicles, other tangible assets, or other intangible assets. And here you get to choose.

Group Asset Depreciation Settings

You can set group depreciation settings for both tax and accounts. Some accountants prefer to leave this blank, which forces anyone setting this up to think about it each time.  Assets entered at a later date need to have manually entered the effective life for that particular asset in this group. Or you may choose to enter a standard group setting of diminishing value – five years in this example using Diminishing Value 200% method.

Whenever a new asset is added to this group, these are the standard depreciation settings that are applied to it. Again, you have full control over that. Now just save this and exit. In my asset groups, you will now see it is created with no assets in it. We’ve got my new asset group.

Adding Asset Groups From Templates

This is how to add asset groups from a template. You can see we have 8 templates that you can choose from.

In this example, we want to add 3 new asset groups quickly and easily. Computer equipment, Furniture and fittings and Machinery. You can see we’ve got some standard tax and accounts depreciation figures for you. For example, computer equipment, diminishing value is 4 years at 25%.  Furniture and fittings is 10 years at 10% using Diminishing Value method. You can change these default numbers if you want/need to. You’ve got full control over how this is done. Now simply click save and exit.

Now you will see that we’ve got the three new asset groups. If you don’t like our default naming, simply click in each field and change whatever you like. You have full control over this.

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Video: How to Automate Depreciation Journal Entries Quickly and Easily

October 4, 2020
Posted by: admin

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Video: How To Invite Users to an Asset Register

October 4, 2020
Posted by: admin

How To Invite Users and Administrators to an AssetAccountant™ Asset Register – Transcript

Today we’re going to run through the quite simple process of adding users to an AssetAccountant™ register that you might have.

We start with our very simple login screen. And here’s the email address – it’s a testing one that I’ll use. And we just use it to log in after entering the password.

Upon entry after login, you will see for my demo company, there’s a little tab up at the top here: Registers and Users.

At this point in time, I’ve only got the one asset register.

If you’re an advisor, you may have many more client asset registers.

If you’re a company, you may only have the one, or you may have multiple asset registers.

But for this particular example, we just have the one register.

So what I’m going to do is click on users and you’ll see here is my email address as the logged in user.

All we need to do is just go up to the right hand side and select Invite Users.

Enter whatever the email address is of who you want to invite, and here you get the choice to select either a User or an Administrator.

Now, a User will only have access to the registers that you allow them to have access to.

An Administrator will be able to set up new registers, new users and allow other users access to these registers.

Be a bit mindful about what level of access you provide your new user.

Then all you need to do is click on which register you’d like them to have access to and then click Invite.

It is as simple as that.

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Video: How to setup a new AssetAccountant™ asset register and link it to your QuickBooks Online account

October 4, 2020
Posted by: admin

Today I’ll demonstrate how to connect a new AssetAccountant™ register with a QuickBooks company

I’m assuming that for the purpose of this video, you have an existing Intuit account and that email has been verified.

I’m also going to assume that this account is already logged in.

Simply click the button labelled sign in with Intuit.

At this point, you may get prompted to add your credentials if you’re not already logged in.

However, if you are, all you’ll need to do is click authorise to AssetAccountant™ and to create a new register.

So what we’re going to do now is create some data in AssetAccountant™ that is needed to generate the journals we’re going to post into QuickBooks Online.

So we’ll now give this register a name “Anything” for the entity, and just save that.

From here we want to click on this integrations tab and click the connect button, which connects this register to a single company in QuickBooks Online.

You may be presented with a screen to select the correct company here if you have more than one registered with QuickBooks Online.

But I only have one company in this example, so I just need to click connect.

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on 1300 984 378

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