Fixed Asset Acquistion

samblue600

Hi Friends

How do u post acquisition of Fixed Asset on Credit , through Journal. Is it possible to post Fixed asset through Fixed Asset Journal/FA Genral journal.

Thanks & Regards,
Sam

garak

Do you mean on Phurchase Credit Memo -> Line -> Type = Fixed Asset?

philippegirod

Accounting reminder:
- A fixed asset (like all the assets) are posted to debit !!
The acquisition typical entry is:
Debit = Fixed Asset, Credit = Bank or Vendor.

If you have purchased an asset, if you post a credit memo, it will decrease the Book Value of your asset. Could be necessary if you receive a credit memo from the vendor of the assets after the purchase invoice.
To post it, simply use Financial Management, Payables, Credit Memos and then, instead of an G/L account or an Item, choose Type = Fixed Assets.

I recomend you to read the Fixed Asset documentation, maybe very usefull..