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ReportWe are in the process of setting up Fixed Assets module, question for the company setup what are the best practice options?
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We are in the process of setting up Fixed Assets module, question for the company setup what are the best practice options?
Thanks
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Hi
Post in Detail - based on what I have seen, this looks pretty good. It is a huge improvement in the summary posting because you can see all relevant information in the GL. However, you may want to use with caution - I have some clients with thousands of assets in the system - we thought together that detail might be a little too much detail. If you anticipate a smaller number of assets, say in the hundreds, then detail may well be very useful.
I haven't worked with the POP options in reality, but I think that it is like this - and feel free someone to correct me if I am wrong:
PO for 10 chairs
- Account - would bring in the total value of the line with a quantity of 1
- Line - would bring in a quantity of 10.
Account may also summarise multiple lines if they are coded to the same account.
I think in both cases, the line needs to be receipted (shipment/invoice would be fine).
Cheers
Heather
Preferred is up to you and your company's preferences. I've had companies using both, the main ones are now on detail because that was required for Analytical Accounting.
You should be able to change any time. The activity will still always be in detail behind the scenes, all this does is change the way the FA module posts the data to the GL.
Post in detail means every single asset activity would be a separate line in the GL journal entries, without that checked means that GP would post only the totals hitting each GL account code.
Thanks Heather for your response, I am glad you indicated you can turn things 'on and off as needed'.
The Purchasing option is something that is done manually currently, but is something we would like to automate.
There is an option to 'post' in detail, what detail is it referring to.
Thanks
That is a big question and does depend on how you want to use the module. And you can turn things on and off as needed. Some things are good to have on but not necessarily when you are first loading assets.
I would always have on Require Asset Account.
Auto Add Book Info I think is optional.
Purchasing options - it depends if you want them adding to the list in Fixed Assets or if you are manually adding everything - I have clients that do both.
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