Article Objective: To assist users in navigating Active Ledger & Reporting to pool assets. Context: Pooling in Active Ledger does not work like most other systems where calculations for the pool are performed separately to the regular calculations for depreciation. Instead, Active Ledger calculates the depreciation on each asset, so that we can measure each asset's contribution towards all the relevant pool balances and calculations. For this reason, Active Ledger allows you to continue working out asset group based totals even if some of those assets are in a pool. Please refer to the Glossary for definitions of key terms used in this article. |
Adding assets to a pool
The easiest way to add assets to a pool is to navigate to the Assets section and then select an Asset Group. Once a group has been selected, multi-select the assets to be disposed by selecting the tick boxes.
Once selected, click on Bulk Actions and then Allocate to a Pool. It is also possible to edit the depreciation method within the asset's edit screen.
From the dialogue screen you will then be able to choose the type of pool you want to add the assets to. There are three options: General Pool, Low Value Pool and Software Development Pool. By default, the asset will be added for taxation and accounting purposes. To override this, click on the link between the two and uncheck the accounting box. Then click on the Allocate Assets to Pool button.
Note: You can select a whole asset group to allocate to a pool even if some of those assets are already allocated, as Active Ledger will skip over those.
Note: To allocate assets to a pool, the 'Use Small Business Depreciation' checkbox must be selected within the deprecation year. This can be edited from the Manage Years button.
Select the relevant depreciation year and ensure the checkbox is selected.
For more information, see the knowledge article: Assets - overview.
From the main Assets screen, you are able to check which assets have not been allocated to a pool by clicking on the 'Show assets not allocated to a pool' checkbox.
Writing off the pool balance
In the Pooling tab of the Assets screen, you can review the pool balances for the selected year. To view a detailed report of the pool's assets, see the knowledge article: Assets - reports on how to run reports.
Here, for each pool balance, for both taxation and accounting purposes, you can write off the balance of the pool (whether positive or negative).
You are also able to restore the balance if needed.
Note: The 'balancing adjustment' caused by writing off the pool balance does not form part of the automatic depreciation journals and must be entered manually through the journals screen.