New Fixed Asset
Hi
I have found that I can enter new fixed assets through Lists>> Fixed Asset Item List>> then i add an item. I have never seen this option so i added a new fixed asset (being the new tablet for the office)- Do I still enter the purchase and create the asset? as we would be claiming the full depreciation this year i would usually enter it then journal it to instant write off.
Do i still follow this procedure or should i move all assets to this list as it seems i can get the accountant to use this option rather than journals each year?
Comments
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The Fixed Asset Items section works in the same way as the standard Items section, it just allows you to record more specific detail related to the purchase & to run a few list reports.
You still enter the purchase transaction, but you can choose to select this Fixed Asset Item on the Items tab now (in the same way you can create an "Item" v posting direct to its applicable expense/COGS on the Account tab)
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