Fixed Asset Clearing Account

(0) Share

Report

Posted on by Duncan Cumbie

110

(1) So, am I correct in saying that the Fixed Asset Clearing Account would be the account to be entered in the Purchasing Item Detail Entry screen when creating a P.O. that contains an asset purchase?

(2) Also, would this mean that the decision on which fixed asset account the item is coded to is made when clearing the item in the Fixed Asset module (i.e. DR F/A account and CR clearing account?

(3) The reason for my questions is that I have tested coding an asset to an asset account in the Purchasing Item Detail Entry screen in Purchasing, and I thought this triggered a record to be sent to the Fixed Asset module for pick-up when creating the Asset record in the F/A module.

*This post is locked for comments

I have the same question (0)

All responses (1)

Answers (0)

Community Member on at

Like (0)

Report
Copy link

Link copied!

Using the clearing account will trigger a Fixed Asset to be setup. It will not trigger from the PO. It will only trigger from Payables, PO Receiving, or PO Invoicing. You will have to setup Fixed Assets for this to trigger the asset. Go to Tools - Setup - Fixed Assets - Company. In the Purchasing Interface Options, make sure the proper checkboxes are checked.

Thanks - Perry K

Was this reply helpful? Yes No