Setting up Fixed Asset codes

Fixed Assets

These will only be available if the Fixed Asset module has been purchased and it has been enabled.

Fixed Asset nominals

It will be easier if Depreciation nominals are set up before creating the Fixed Asset nominals.

Ledgers > Nominals to display the listing screen. 

Click on Add to create a new nominal.

Create the standard Depreciation nominal(s) in the Depreciation nominal group:

If using Accumulated Depreciation, this will be set up in the Fixed Asset nominal group. Note the blue slide button at the bottom of the screen to indicate this is an Accumulated Depreciation nominal and not a straightforward fixed asset.

Once these have been entered you can then set up all the Fixed Asset nominals as required. The Accumulated Depreciation Nominal field is not mandatory so it can be left empty if you are not using it. 

Once the nominals have been set up you can create the Fixed Asset codes.

Ledgers > Fixed Assets to display the listing screen. 

Click on Add to create a new Fixed Asset:

If Accumulated Depreciation is not being used the field will automatically be populated with the same fixed asset nominal. Purchase date, cost price and opening value will be populated from either Opening Balances or from the purchase transaction.