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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Fixed Assets - Propert...
Microsoft Dynamics GP (Archived)

Fixed Assets - Property Type

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Posted on by Rosemary 10

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Good day,

I am trying to understand the field 'Property Type' in Fixed Assets. I say trying to understand because of the options given. Why ' Personal', what is 'Personal, Listed', the assets being entered relate to business.

Regards,

Rosemary

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  • Suggested answer
    HeatherD Profile Picture
    HeatherD 425 on at

    Rosemary,

    Personal versus Real deals with the mobility.  Think of real like real estate - buildings and such are not easily moved.  The distinction between Personal and Personal Listed is that listed property is that personal property that may appreciate rather than depreciate in value (jewelry, art, etc.).  

  • Verified answer
    HeatherD Profile Picture
    HeatherD 425 on at

    Adding a quick reference:  www.nysscpa.org/.../accounting-terminology-guide

  • Rosemary Profile Picture
    Rosemary 10 on at

    Thanks Heather for your response and the link, the information was helpful.

    Rosemary

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