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Fixed Assets
01-24-2013, 02:03 AM
Post: #1
Fixed Assets
I am testing the software for use in our Company. I made an entry for purchase of Fixed Assets by cash (like small printer etc.) from GL Payment entriy. The system accepted the entry in the GL Asset Class but I did not find same in the Asset Register. In this Case the Fixed Assets Total will not tally with my GL Assets total and also there will be no Depreciation charge for this particular Asset. How do I take Assets purchased by Cash ??

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01-24-2013, 06:10 AM
Post: #2
RE: Fixed Assets
You must enter fixed assets from supplier invoice entry. The asset needs to be created first, then you can enter charges against it.

You cannot post directly to the general ledger account and get assets into the fixed asset register, in the same way as posting customer receipts directly to the GL will not go into the customer's account. Hope this makes more sense.

Phil Daintree
webERP Admin
Logic Works Ltd
http://www.logicworks.co.nz
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