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To indicate that the fixed asset is again in use, you can create a Conservation of Fixed Assets document . with the Cancellation of Conservation transaction type. Posting of this document changes the status from In Conservation back to Active.
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Your organization must show both tangible and intangible assets on your balance sheet, with tangible assets listed first. For details, refer to Financial Statements.
For managing accounting of fixed assets, you can use the following reports in the Asset Management module:
- Inventory Card: Using this report, you can view the net book values of fixed assets with some Statement of Depreciation: The report lists the fixed assets grouped by department with the details of depreciation. You can filter the data by entity, status, department, and specific fixed assetsasset.
- Fixed Asset OutputBalances of Capital Improvements Costs: The report lists the fixed assets with the Units of Production depreciation method. For each such fixed asset, the output in the specified units of production during the selected period is shown.Statement of Depreciation: The report lists the fixed assets grouped by department with the details of depreciation. You shows the costs of capital improvements on the specified date listed by fixed asset and expense item. You can filter the data by entity, fixed asset, or expense item.
- Balances of Construction in Progress Costs: The report shows the costs of of fixed asset construction in progress on the specified date listed by fixed asset and expense item. You can filter the data by entity, fixed asset, or expense item.
- Costs of Capital Improvements to Fixed Assets: The report shows how the capital improvement costs changed during the specified period for the fixed assets. Expense items reflect the structure of costs. You can filter the data by entity, fixed asset, or expense item.
- Costs of Fixed Asset Construction in Progress: The report shows how these costs changed during the specified period for the fixed assets under construction. Expense items reflect the structure of costs. You can filter the data by entity, department, and specific fixed assetsfixed asset, or expense item.
For more information on details, refer to Asset Management: Reports.
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