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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / What is the role of th...
Microsoft Dynamics GP (Archived)

What is the role of the Fixed Asset clearing account? How does it tie into the creation of a Purchase Order when you specify the purchasing account?

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Posted on by Duncan Cumbie 110

Hello,

 

I am trying to find out what is the role of the Fixed Asset clearing account in the integration process between A/P (Purchase Order processing or Invoice entry) and the Fixed Asset module?  During testing, I have been able to code an A/P invoice to a fixed asset account an then go to the Fixed Asset module to continue the import process.

Any additional information on the role of the Fixed Asset clearing account would be greatly appreciated.

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    Community Member on at

    The clearing account is there for a couple of reasons:

    1) The AP person does not have to decide which Asset account something belongs to, just use the same one on all asset purchases.  

    2) It serves as a control to the question, "Have we setup all our fixed assets?".

    The clearing account gets credited with the acquistion cost when you setup an asset, the FA account gets debited.    

    Warren

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