Asset statement and opening balance sheet

Disclaimer

All screenshots in the article were taken in the Dutch version of Yuki.

Entering the details of your assets on the opening balance sheet requires some extra attention. After all, on the balance sheet, all information is often entered as one item on the investment account and as one item on the depreciation account. To work properly with the asset statement, the detailed asset statement needs to be entered into Yuki.

Enter opening balance

If you wish to disaggregate the balance on the opening balance sheet, it is best to post the investment amount first to the '02999 Suspense account opening balance assets' and then, in a separate entry, disaggregate the amount to individual assets or to one-year investments, for example.

Example

31-12-2016 '02999 Suspense account opening balance assets', Debit 35.000 (instead of on the vehicles asset account)

31-12-2016 '02999 Suspense account opening balance assets', Credit 9000  (instead of on depreciation of vehicles)

31-12-2016 ...

After entering the opening balance, you then enter the specification in a separate general journal entry of type 'Opening balance':

31-12-2016 '02600 Vehicles',  car A  Debit 18.000 

31-12-2016 '02600 Vehicles',  car B  Debit 17.000

31-12-2016 '02999 Suspense account opening balance assets', Credit 35.000

Thus, each asset or asset group gets a line in the asset statement.

TIP!

It is also possible in Yuki to import depreciation entries (general journal entries) into your administration.

For a detailed description, see article Import general journal / financial transactions.

Enter already depreciated per asset

To ensure that the asset statement is based on the depreciation recognised in the opening balance sheet, you can proceed as follows:

• Record the cumulative depreciation from the opening balance sheet also on '02999 Suspense account opening balance assets' (i.e. not directly on the depreciation account)
• You then enter the cumulative depreciation (on the opening balance sheet) for each asset via the asset statement. You do this as follows (for cars, for example): 
  • Open the asset account '02600 Vehicles'
    
    
    
  • Click in the now-opened screen on the Asset group settings button.
    The following screen is opened:
    
    
    
  • Enter the usual depreciation period in the now-opened screen
  • Choose whether depreciation is generally pro rata (from purchase date) or from the beginning of the financial year
  • Click on the Save button
  • In the now-opened screen, hover over the line of the asset in question, click on the button with the three dots and then select Change asset settings from the dropdown menu.
    
    
    
  • The following screen is opened:
    
    
    
  • Enter here:
    • Description
    • Aanschafdatum (purely informative)
    • Depreciation start date (if different from that of the asset group)
    • Depreciation method: linear or degressive
    • Depreciation type (change if depreciation is different from that of the asset group):
      • number of depreciation years
      • depreciation %.
    • Residual value method (change if residual value is to be calculated differently from that of the asset group):
      • residual value %
      • residual value € 
• Tick the Depreciation value on opening balance check box
• Description, e.g. 'Cumulative depreciated as of 31-12-2016'
• Depreciation amount: the amount of accumulated depreciation in the opening balance sheet.

GOOD TO KNOW!

If you save this data, Yuki will automatically create an entry to post the amount of cumulative depreciation to general ledger account '02650 Depreciation of vehicles' with '02999 Suspense account opening balance assets' as the contra account.

The entry then looks like this, for example:

31-12-2016 02650 Depreciation of vehicles  Credit 5.000 

31-12-2016 02999 Suspense account opening balance assets  Debit 5.000

If all goes well, the balance of all cumulative depreciation will then be equal to the amount that was on the opening balance and the suspense account opening balance assets will then equal 0.00.