Enhancements of Asset Capitalization Process

[nabinhait]

Asset:

• [x] Separate checkbox for Composite Asset and Composite Component
• [x] For composite components, make "Available for Use Date" non-mandatory.
• [x] Remove GL Entry creation on submission of a composite component.
• [x] Rename purchase_receipt_amount to purchase_amount
• [ ] Remove the status "Capitalized" and "Decapitalized"
• [x] Remove the field "capitalized_in"

Asset Capitalization:

• [ ] Allow multiple capitalization against a composite asset
• [ ] Post the GL Entries for consumed assets on submission of the Asset Capitalization form on the capitalization date.
  • Fixed Asset Account (Dr)
  • CWIP Account (Cr)
• [ ] Add a field to track Purchase Invoice against the service expenses.
• [x] Allow capitalization only to add service expense (without consumed asset/stock item) to a WIP asset

Depreciation:

• [ ] After final capitalization, set "Available for Use Date" in Composite Asset
• [ ] Create a depreciation schedule for the final composite asset on submission.
• [ ] If capitalization is done on an already submitted asset, the depreciation schedule can be changed based on new components or additional services.

[yatishdarji]

Asset Scrapping

• Asset scrap feature to ask the scrapping date instead of taking current date automatically.
• Another option is to make new doctype all together for scrap

Asset Value Adjustment

• Make both possibility available i.e. value has gone up and other is value has gone down (Impairment)
• In case of value gone up accounting entry should be - Asset account debit and Revaluation account credit (being nature of this account as reserves and surplus). Also Depreciation should be charged on new value from there onwards.
• In case of value gone down accounting entry should be - Impairment Loss account debit (being nature of the account as expense) and Asset account credit. Also Depreciation should be charged on new value from there onwards.

Option to increase the life of asset and decrease the life of asset should also be available

[nakul80]

For Asset Capitalization, if I consume either a stock item or asset and choose a WIP composite asset, the Accounting entry posts Debit to Fixed Assets Accounts as defined in the Asset Category Master. This master has CWIP Accounting enabled. In such a case the Debit should goto CWIP defined in the Asset Category Master.