Fixed Assets

The Fixed Assets module tracks business assets, calculates their monthly depreciation and posts the depreciation to the General Ledger. Fixed Assets supports straight-line depreciation as well as custom monthly depreciation schedules. Asset Categories make it easy to enter repetitive asset information .

Approach:

1. The bookeeper enters the companies assets and sets up the proper proper depreciation method for each.
2. Once a month the bookeeper runs the calculate depreciation routine.
3. Print the Depreciation Journal.
4. Finally, the bookeeper runs the Post Depreciation routine. This creates a General Ledger batch entry for the monthly depreciation (if the General Ledger module is present).
   

Interface to the General Ledger:
If the General Ledger is installed, it will send the batch of your monthly depreciation entries to the General Ledger. This batch must then be printed and posted in the G/L.

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Last updated: Tuesday, February 03, 2004 05:24:29 PM