Uploading initial asset balances

This page allows you to search and select a depreciation book, the financial year and period for which you want to upload the initial balances. You can also select the code identifying the finance book and the asset class for which the initial balances are to be uploaded. The initial balances can be uploaded after the asset entries have been created in the finance books. You can upload the initial balances from an external source, which could be an MS-Excel worksheet or a database. This page is used once during the installation time. The balances can be uploaded in small batches based on the business requirement of the organization.

Select the “Upload Initial Balances” link under the “Asset Migration” business component.

The “Upload Initial Balance” page appears.

Enter the following fields:

Depreciation Book Code	Use the drop-down list box to select the code identifying the depreciation book in which the initial balances are to be posted. All the depreciation books that have been deployed in the login organization unit will be available for selection in the ascending order.
Financial Year	Use the drop-down list box to select the financial year for which the initial balances are to be uploaded. All the “Open” financial years available for the depreciation book will be available for selection in the ascending order.
Financial Period	Use the drop-down list box to select the financial period for which the initial balances are to be uploaded. All the financial periods pertaining to the year will be available for selection in the ascending order.

Enter the following fields in the “Search Criteria” group box to retrieve the asset details:

Finance Book	Use the drop-down list box to select the code identifying the finance book in which the asset balances must be uploaded. All the finance books that are deployed in the login organization unit will be available for selection in the ascending order.
Asset Class Code	Use the drop-down list box to select the code identifying the class to which the asset belongs. All the asset classes defined in the “Asset Type” business component are available for selection in the ascending order.

Click the “Get Details” pushbutton to retrieve the asset details.

Note: The system retrieves the initial balance information that is already available in the form of an MS-Excel sheet or an external database.

The system displays the following in the “Initial Balance Information” multiline based on the search criteria entered:

Asset No.	A unique number identifying the asset.
Tag No.	A unique number identifying the tag.
Asset Cost	The cost of the asset.
Depreciation Charge	The charges incurred due to depreciation.
Cumulative Depreciation Amount	The cumulative depreciation amount.
Revaluation Type	The method in which the asset was revalued. It could be “Upward” or “Downward”.
	Upward – indicates that the appreciated value of the asset has been calculated.
	Downward – indicates that the depreciated value of the asset has been calculated.
Revaluation Date	The date on which the asset was revalued.
Revaluation Amount	The amount of the asset after revaluation.
Revalued Depreciation	The depreciation amount after revaluation.
Asset Book Value	The value of the asset as per the accounting books.

Click the “Create Initial Balance” pushbutton to create the initial balances of the asset

All the initial balances are saved in the system.

To proceed, carry out the following

Select the “Complete Initial Balance” link at the bottom of the page to complete the initial balance entries.
Select the “View Error Details” link at the bottom of the page to view the errors, which occurred while uploading the asset details.