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5I am having an issue tracking items that go through the fixed asset clearing account and perhaps I don't have enough experience using GP to come up with a solution to this issue.
We have invoices that get coded to the FA clearing account (which uses our standard location code, 100). From the FA clearing account, we setup the assets and move the costs from the FA clearing to the specific asset. When crediting the FA clearing and debiting the Fixed Asset, the true location code of the asset is included in the Fixed Asset account string. One issue that I am having is trying to pull all of the FA GL detail relating to one of our locations but it appears that when things go into the FA Clearing, they sometimes come out with slightly different descriptions and/or amounts (along with other bits of information like vendor name and invoice numbers) that have been combined making it impossible to historically tie these assets to the invoices they are made up of.
Is there any unique identifying characteristic to the entry that can be used to trace a specific fixed asset back to the entries that it is made up of?
Also, from my very short time using GP, I find it hard to believe this is the only way to account for fixed assets. Is there a way to bypass the 'blackhole' of the fixed asset clearing and directly code these invoices to their respective fixed assets and FA GL?
Please feel free to offer any other suggestions or how your company handles these issues because I have to believe there is a more optimal way to go about this.
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