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RE: Operation related to Asset Management

Re: Operation related to Asset Management

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Re: Operation related to Asset Management

by
WilldooIT, Jonathan Wilson
- 25/07/2020 06:56:15
@kitti We sometimes call "Directors" and tax depreciation. Here is not a bad description. Basically they are different deprecation methods/formulas for the same item - one for the company's GL and the other for the tax department. The directors may value the assets differently from what is reported in the company's tax returns. The "Book" depreciation is the one that is recorded in the GL. No problems if this is a separate module. Conceptually I think it would be fairly straight forward to extend the base Asset model (not being a programmer!).

The other features would certainly be welcome.

Like I said I may be able to get some funding if that makes things easier?

Kind regards

Jonathan Wilson

Chief Sales and Innovation Executive

WilldooIT Pty Ltd



Recent Linkedin articles: 


First Australian Odoo GOLD partner
2017, 2015 & 2013 Odoo Best Partner Asia/Pacific
Creators of  Odoo-Pentaho integration project

"Making growth through technology easy"


E: jonathan.wilson@willdooit.com

P: +61 3 9135 1900

M: +61  4 000 17 444

Linkedin

10/435 Williamstown Road

Port Melbourne VIC 3207

DISCLAIMER | This electronic message together with any attachments is confidential. If you are not the recipient, do not copy, disclose, or use the contents in any way. Please also advise us by e-mail that you have received this message in error and then please destroy this email and any of its attachments. WilldooIT Pty. Ltd. is not responsible for any changes made to this message and/or any attachments after sending by Willdoo IT Pty. Ltd. WilldooIT Pty. Ltd. use virus scanning software but exclude all liability for virus or anything similar in this email or attachment.




On Sat, 25 Jul 2020 at 14:17, Kitti Upariphutthiphong <kittiu@ecosoft.co.th> wrote:
Thank you all,

@Jonathan, I am not quite familiar with the Book and Tax. I have asked our functional consult, and we think it is also a case in our country, although it is not very common (still not sure it is the same thing as yours). Do you have more detail on what it is, somewhere I can read?

@Luc, from what I understand here, we need the same, but the naming may be a bit different (we also need the right business name). So, here is the refined list of TODO from me, please help redefine it, or suggest better terms if you are certain.

Should I call this set of feature, Asset Operations? Which I think it should be separated, WDYT?
  1. Asset Revaluation -- account_asset_management_oper_revalue
  • Not only impairment but value increment, so I think this name is ok?
  • Asset Merge - account_asset_management_oper_merge
  • At first I used transfer for both merge and split
  • Mainly used for case assets under construction that one or multiple assets will become a new asset.
  • Asset Split - account_asset_management_oper_split
  • When bought in a big asset, that can be decomposed it to several active asset and start depreciation.
Also notable feature mentioned by Kevin, I think should be the enhancement to the account_asset_management
  • Proper handling of gain/loss on disposal
  • Depreciation start date separate from asset date
@Kevin, your sharing would be great.

As for the Book and Tax, I also think it should be seperated feature. I also don't know much about it yet.

Thank you for feedback,
Kitti

On Thu, Jul 23, 2020 at 1:37 PM <luc.demeyer@noviat.com> wrote:

I think we should make two documents

  • Asset impairment (a feature to be added to the base module)

  • Tax depreciation (imho a separate add-on module)

  •  

The other two are small features already available in some form in the current module.

 

Luc

 

From: Jonathan Wilson <jonathan.wilson@willdooit.com>
Sent: Wednesday, 22 July 2020 23:02
To: Contributors <contributors@odoo-community.org>
Subject: Re: Operation related to Asset Management

 

 

If we could get a requirements & design document for the new features, including book & tax methods, I pretty sure I could get funding from a customer.


Kind regards

Jonathan Wilson

Chief Sales and Innovation Executive

WilldooIT Pty Ltd

 

 

Recent Linkedin articles: 

 

First Australian Odoo GOLD partner

2017, 2015 & 2013 Odoo Best Partner Asia/Pacific

Creators of  Odoo-Pentaho integration project

"Making growth through technology easy"

 

E: jonathan.wilson@willdooit.com

P: +61 3 9135 1900

M: +61  4 000 17 444

Linkedin

10/435 Williamstown Road

Port Melbourne VIC 3207

DISCLAIMER | This electronic message together with any attachments is confidential. If you are not the recipient, do not copy, disclose, or use the contents in any way. Please also advise us by e-mail that you have received this message in error and then please destroy this email and any of its attachments. WilldooIT Pty. Ltd. is not responsible for any changes made to this message and/or any attachments after sending by Willdoo IT Pty. Ltd. WilldooIT Pty. Ltd. use virus scanning software but exclude all liability for virus or anything similar in this email or attachment.

 

 

 

On Thu, 23 Jul 2020 at 05:32, Kevin McMenamin <Kevin.McMenamin@solnet.co.nz> wrote:

We have done quite a bit around assets and happy to share (currently still on V11)

 

  • Proper handling of gain/loss on disposal

  • Asset impairment

  • Depreciation start date separate from asset date

  • Accounting & Tax depreciation rates (we handle tax via reporting as typically done annually)

 

Plus have tidied up various accounting elements to ensure works correctly.

 

Happy to share.

 

 

Regards

 

 

Kevin McMenamin

ERP Capability Manager, Solnet

 +64 22 651 3753 | +64 9 977 5805 | Visit our blog | Connect on LinkedIn

 

 

 

 

From: luc.demeyer@noviat.com <luc.demeyer@noviat.com>
Sent: Wednesday, 22 July 2020 7:27 PM
To: Contributors <contributors@odoo-community.org>
Subject: RE: Operation related to Asset Management

 

I am not sure if we need to add the book & tax feature into the base module.

I think it’s more a feature for an add-on module.

 

Luc

 

From: Jonathan Wilson <jonathan.wilson@willdooit.com>
Sent: Wednesday, 22 July 2020 08:33
To: Contributors <contributors@odoo-community.org>
Subject: Re: Operation related to Asset Management

 

Hi Kitti

 

My experience with decent Asset apps is that they have that functionality. Additionally, they usually have 2 modes of depreciation - "Book" and "Tax" - if we could add those features (and the ones you mentioned) I would fee a lot more comfortable offering up Odoo as a decent asset register. 


Kind regards

Jonathan Wilson

Chief Sales and Innovation Executive

WilldooIT Pty Ltd

 

 

Recent Linkedin articles: 

 

First Australian Odoo GOLD partner

2017, 2015 & 2013 Odoo Best Partner Asia/Pacific

Creators of  Odoo-Pentaho integration project

"Making growth through technology easy"

 

E: jonathan.wilson@willdooit.com

P: +61 3 9135 1900

M: +61  4 000 17 444

Linkedin

10/435 Williamstown Road

Port Melbourne VIC 3207

DISCLAIMER | This electronic message together with any attachments is confidential. If you are not the recipient, do not copy, disclose, or use the contents in any way. Please also advise us by e-mail that you have received this message in error and then please destroy this email and any of its attachments. WilldooIT Pty. Ltd. is not responsible for any changes made to this message and/or any attachments after sending by Willdoo IT Pty. Ltd. WilldooIT Pty. Ltd. use virus scanning software but exclude all liability for virus or anything similar in this email or attachment.

 

 

 

On Wed, 22 Jul 2020 at 16:17, Kitti Upariphutthiphong <kittiu@ecosoft.co.th> wrote:

Dear community,

 

My I check whether the following feature is relevant to OCA or being useful.

 

We done Odoo and got to learn some practice from an organization that deal with a lot of asset. Both normal asset, low valued asset, asset in transit, asset under construction.

 

They have asset operation like,

  • Change Ownership,

    • i.e, change cost center (analytic)

  • Value Adjustment,

    • i.e., knowing sometime later that, there are additional expenditure into that assets and so the value should be increased

  • Transfer (merge or split),

    • i.e., 2 asset under construction, merged as new final working Asset.

    • An normal acquired asset that splits into smaller assets.

We would love to port these features into OCA. But I am not very sure it will be useful, nor is it generic enough.

 

Any comments?

Kitti

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