Good morning,
I have a client who has been using BC for a few years and now wants to set up fixed asset tracking and depreciation in BC. They are currently doing this manually in Excel. Since these fixed assets are already on the balance sheet can I just create the fixed assets, skip the acquisition phase and set up depreciation? Is it even possible to skip the acquisition step for existing FA's? If so, I'd still like to note somewhere on the fixed asset card what date the purchase was made but then start calculating depreciation this month since all the previous depreciation GL entries have already made. For example, is it possible to have a purchase date of Mar 7, 2017 and a depreciation start date of Feb 28, 2021? If so, where would I log that original purchase date? Just in the notes section?
I realize this is a very basic task but we haven't had any clients using the fixed asset module so I want to be sure that we are setting this up correctly, with no initial GL impact (until we start calculating depreciation going forward)
Thanks!
