12 Altering Accounts
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Altering Accounts
Can you alter the individual accounts per fixed asset?
When creating a new Fixed Asset, when you come to the Depreciation #1 tab (or Depreciation #2 tab if you have selected this one under Depreciation For Transactions in Preferences<LinkId=1063> ), there are four accounts that can be changed. One of these, The Fixed Assets Bank Account is the Clearing Account for fixed asset purchases. This should stay as the default selected in Preferences<LinkId=1063>.
The other three can be changed depending on how you want your Fixed Assets grouped
How to change accounts for a Fixed Asset
Select the Fixed Assets tab Select Fixed Assets button Select Depreciation #1 tab
Fixed Cost Asset Account The default for this account is the Fixed Assets Account default in Preferences Change to another Asset account as desired (eg. Motor Vehicles, Furniture etc)
Fixed Assets Depreciation Assets Account The default for this account is the Fixed Assets Depreciation Assets Account in Preferences Change to another Asset account as desired (eg. Motor Vehicles Depreciation, Furniture Depreciation etc)
Fixed Assets Depreciation Expense Account The default for this account is the Fixed Assets Depreciation Expense Account default in Preferences If you want multiple Depreciation Expense accounts you should set them ALL up as subsidiary accounts under the header account Fixed Asset Expenses and only post to the subsidiary accounts. Discuss this with your accountant and ERP first
