The latest release of Aqilla introduces a range of extended Fixed Assets functionality to complement the existing Fixed Asset Reference which automatically calculates asset depreciation and dedicated IBAN/BIC fields for bank and creditor account details.
Fixed AssetsMay 2024 sees the introduction of a range of extended Fixed Assets functionality to complement the existing Fixed Asset Reference and accounting capabilities on the Aqilla platform. This powerful addition brings a host of benefits, and if adopted replaces existing the Fixed Assets schedule, whilst leaving your existing data unaffected.
The Fixed Assets Register in Aqilla displays detailed asset information including depreciation methods, cost accounts, and lifecycle dates
Key Benefits
You can easily record fixed assets in one central location as it captures important information about each asset, including its purchase date, cost (based on GL posts), useful life, and depreciation method.
Depreciation methods may differ for each individual asset and across ledgers providing the ultimate flexibility to assess the impact of your options. You can create a depreciation run to automatically calculate the depreciation of each asset which can be posted directly to the Ledger or rough posted for accurate reporting and analysis.
The depreciation methods available include:
Straight Line – Life in Years, Percentage, or Start & End Dates
Reducing Balance – Life in Years or Start & End Dates plus Accelerator
Sum of Year Digits – Life in Years
Purchase Invoices may be linked to a fixed asset so depreciation is based on the asset’s cost value or cost – residual value as per GL postings, improving accuracy and traceability.
Getting Started
To get started:
Navigate to the Configuration menu
Go to Instance Settings
Find the setting Depreciable Assets Enabled
Switch this to Yes
Apply the change
The Fixed Assets Register in Aqilla displays detailed asset information including depreciation methods, cost accounts, and lifecycle dates
If you have any questions on how to get started, please do not hesitate to seek guidance from your nominated consultant. If you’re unsure who to contact, please reach out to your dedicated Account Manager at callin.viner@aqilla.com or our support team at support@aqilla.com.
IBAN / BIC Fields
Historically, customers have been unable to export both domestic and international payments from the same bank account as this required both domestic and international bank details stored in the same set of fields.
The Bank Account Details, Creditor and Debtor Bank Account Edit pages now have additional fields to capture BIC and IBAN details, for them to be used with the relevant Payment Export formats, such as Generic SEPA.
EXCEL Add-in
An optional upgrade, with a new option for Documents to “Upload and Release”.