Fixed Assets workpaper (FIA)

The Fixed Assets (FIA) workpaper reconciles the opening balance, additions, disposals, depreciation, and closing balance of fixed assets for the year. It also provides Net Asset Sales data used by Sales Reconciliation.

Data extraction

Automatically populated based on the Depreciation Schedule uploaded under Data Sources (Ledger).

Purchases

Under the Purchases column of the depreciation schedule, every row with a figure present (ignoring 0.00 and the Total row) is captured in full: amount, asset name, purchase date, and depreciation rate (shown with the % sign) are each copied into the corresponding row of the workpaper.

Disposals

Under the Disposed column of the depreciation schedule, every cell containing a date value is captured in full: amount, asset name, and disposal date are copied into the corresponding row of the workpaper. If a required column is missing from the depreciation schedule, that field is left blank for manual entry rather than guessed.

Updating after changes in Xero

●       Delete the existing Depreciation Schedule in Zato from Data Sources (Ledger).

●       Click Run Zato.

●       Re-upload the updated Depreciation Schedule from Xero under Data Sources (Ledger).

●       Click Run Zato again.

Note: Run Zato twice, once after deleting the old schedule and once after uploading the new one, and always upload the complete schedule rather than a partial update.

Supporting

Attach the Depreciation Schedule, and any invoices or documents mapped through this workpaper, as supplied.

Balance per GL

Sum of all account codes mapped to Fixed Assets in CoA Mapping.

Related workpapers

●       Sales Reconciliation (SRC): pulls total net proceeds from the disposal of fixed assets into its Net Asset Sales per Ledger line.

How to access

●       Go to Jobs and open the relevant job.

●       Click the Workpapers icon or navigate to Job Results then Workpapers.

●       Select FIA on the Workpapers Dashboard.