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My company has a holding company setup only to hold the fixed assets of the company. In previous years, the fixed assets were tracked in excel, and a manual JE was performed at the end of each year to record depreciation/amortization on the holding company's GL. I am getting ready to switch the company over to using the Fixed Asset Management module so we no longer need to track the fixed assets via excel and manually record the depreciation/amortization. Please note that I have thoroughly read through the Microsoft GP Fixed Assets Management manual, read through multiple community discussions on this module, and have a TEST company within GP that I have successfully uploaded the fixed asset data into already.
Question 1:
I want to import all of the fixed asset data (including Cost Basis and LTD Depreciation Amount) into GP (in order to have a full list of the assets) but NOT into the GL (as the assets and related depreciation/amortization were already manually recorded for prior years). However, going forward (let's assume beginning on 7/1/17), I want to be able to depreciate those assets (as well as add any new assets entered through the Purchasing module beginning on 7/1/17) via the "Depreciate" and "GL Posting" Fixed Assets Routines. Is there an easy way to do this?
My initial thoughts were to import everything with the "Post to General Ledger" option UNCHECKED in the Book Setup option and then re-CHECK the "Post to General Ledger" option after everything imported, but that does not seem to work. I then thought about adding all the old assets to a different Book ID with the Post to General LEdger option UNCHECKED, while all the new assets get assigned to a different Book ID with the Post to General Ledger option CHECKED...but I still need the old assets to continue to depreciate.
Any help would be much appreciated! Thanks in advance,
Josh Ruf, CPA
Controller
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