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In this video I'm going to show you how to upload right of use assets in bulk into Assets
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Accountant. These are where you are paying for the use of an asset such as office space
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and you need to reflect the corresponding asset as well as the lease liability in Assets
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Accountant. This video will show you how to upload those in bulk. Before you start that
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you can go into a spreadsheet. You will need to collect the data. So you'll need the standing
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data in here, the name, the asset code and so on, the asset group, the date you acquired
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it, right of use assets don't exist for tax, I just put doesn't exist in there and then
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your accounts method and life will be straight line over the course of the life of the lease.
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Then the lease information, you'll need the internal borrowing rate or the interest rate
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you want to use, any CPI adjustments that are made regularly, finally the lease end
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date and then you need the lease payment schedule. So generally for a right of use asset you'll
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have a first regular payment date, an amount, a frequency and then a number of payments.
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Then you have any optional fields if you're bringing in assets in pools or with components
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and so on which are outside the scope of this video and also classifications. So you can
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use classifications for tracking things like the landlord or the custom fields for tracking
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reference numbers for the property and so on. So once that spreadsheet is ready then
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you can navigate to Asset Accountant, do a new lease import, new right of use, upload
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the spreadsheet that you've created with the data in. The system will bring that in to
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Asset Accountant. If there are multiple tabs in the spreadsheet it will ask you to confirm
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which tab you'd like to use for the data, in this case there's only one, so it's asking
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to confirm the header row. If you have some titles above the data, so you're using a few
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rows of the spreadsheet, you can just ignore those so it'll just look down from the header
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row. In this case it's the first one. If you're bringing leases in part way through their
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life then you can just map these here if you have that data in the spreadsheet. For this
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demonstration I'll assume I'm bringing these leases in right at the start of their lives.
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Then I'll be asked to match the asset fields, so the asset name, the description group and
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so on. There are some of these optional fields which I'm not bringing in in this import so
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I can just remove those. It'll ask you if you want to create the group or if you want
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to use an existing group, so in this case I'm going to create the group Property Leases.
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The lease information here, so what's the end date of the lease, the borrowing rate,
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whether that's nominal or effective and then if you do have any CPI up left you can just
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map those first adjustment columns there. This next stage asks you to map the profile
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of the payments, so you can see here the payment date, payment amount and so on. For
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right of use assets generally it'll just be this section here with the regular payments
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and again you put in the frequency or the periodicity there. It'll just ask you to confirm
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that we've interpreted your periods correctly and then once you've done the date it will
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then just ask you for completeness to bring in the depreciation method, so for tax doesn't
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exist I'll get rid of those optional fields. Doesn't exist, doesn't exist, so that will
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not become an asset for tax purposes and then for accounts we've got the method life.
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Again I don't need the residual value or notes in there so I can remove those. SL, so straight
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line or prime cost as it's called in Australia and then this is where you would map your
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classifications so if you did want to manage your landlords or financiers, contract numbers
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and so on you can just do all of that from this final tab. Then if the system's a little
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unsure about dates it will just ask you to confirm the format of the dates in the spreadsheet.
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It'll bring it in and you can see here now it's imported those assets successfully so
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we can go and have a look at one of those in the system and you'll see that has now
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brought the asset in to the system and it is starting to manage the lease liability.
