Setting up the Fixed Asset Manager Control fields.
Overview
Here you can set up the month end date and General ledger accounts that transactions for your Fixed assets will be posted to.
To read an overview about the Fixed Assets module, click Fixed Assets: Overview.
Fixed Asset Manager
To set up the details for your Fixed Asset module:
- Start at Settings > Fixed Asset Manager.
Control settings:
- Month end date: Enter the month end date for the Fixed assets register. This will automatically update when you run the month end process.
- Backward Dating Permitted Days: Enter the number of days permitted to enter transactions in the past.
- Forward Dating Permitted Days: Enter the number of days permitted to enter transactions in the future.
- Last Asset Number: Enter the number to start assigning system numbers, e.g. if you wish to start at 1001, enter 1000 here.
General ledger control accounts:
- Select the General ledger accounts for the following fields:
- Balance Sheet Fixed Assets: This is the Balance Sheet account to record Fixed Assets.
- Depreciation provision: This is the Balance Sheet account to record Provision for depreciation.
- Contra GL account: This is the account to be used when you add or dispose of an asset, and will be matched by the corresponding entry from the Cashbook.
- Depreciation expense: This is the Profit and Loss account for Depreciation expense.
- Loss or Gain on Sale: This is the Profit and Loss account for and loss or gain on sale.
- Capital profit on sale: This is the Profit and Loss account for capital gain on sale.
- Click Save.
Adding Fixed Asset Types
Now you are ready to add Fixed Asset Types.
To read about this area, click Fixed Asset Types.
|