Problem: How
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Solution:
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to entry Construction Work in Progress of Fixed Assets without charging Depreciation?
Solution: Use one of two entries for costs of Construction-in-Progress
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as shown.
1
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. For
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In Invoice Received Inventory Tab you can purchase of inventory, allocate its costs with Invoice Received document.
At Inventory tab, change Item's GL Account to GL Construction in Progress Progress:
Posted Post Invoice Received will with DR Construction in Progress and CR Current Trade Payable GL accounts:
2
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. For already accrued expenses
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, create Other Expense (Reversal) document to allocated costs to Construction-in-Progress
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At Expenses tab, put DR Construction-in-Progress GL Account.
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In Accounts Dr Dimension you need to , define Fixed Asset you Asset to allocate the expense to:
Posted Post Other Expense document will with DR Construction in Progress and CR selected Expense account:
3. As a result of such entries, you'll have the balance on the Construction in Progress GL Account under the Non-current assets group , and appears:
NOTE In case, if Automatic Depreciation needs to be created monthly for this Fixed asset, you'll have to accept this Fixed asset of these Fixed Assets is needed on monthly basis, accept Fixed Asset for accounting by Fixed Asset Entry Document document.
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