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The Property tab becomes available once the Fixed Assets option is selected on the Main tab.

The option Fixed Assets option is available if the Enable Fixed Asset Management option Accounting option is selected on the Administration > Settings > General Settings  Asset Management form.

Using this tab, you can enter the beginning balances of bank and cash accounts.Image Removedlist the available fixed assets with the accounting details on the date preceding the start of operations in the application.

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The Opening Balances Entering (create) document. The Property tab

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The Fixed Asset subcolumn is intended for listing of the fixed assets which have balances on the date of the start of operations in the application. You can select an asset from the Fixed Assets master data, or you can create a new record. For details, refer to Adding a Fixed Asset. In the Class subcolumn, specify the class of non-current assets to which the fixes asset is related.

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In the Depreciation method / UOM column, select the method of depreciation assigned to this asset. For the Units of Production method, select the UOM used for measurements.

In the Useful Life to Calculate Depreciation / Volume of Production (Months)/ Estimated Production Volume / Depreciation column you can enter the useful life of the fixed asset during which it will be depreciated, the limit of units of usage (production) if the depreciation method is method is Units of Production .

Use the Gross Cost /Salvage Value column to enter the current cost of the fixed asset and its salvage value at which depreciation must stop.

Use the Initial  Depreciable Cost/ Current Depreciation column to enter the initial cost under depreciation and accumulated the depreciation amount in the current month.

Select the Depreciate column to indicate that the fixed asset must be depreciated; clear the check box to indicate that depreciation for this asset will not be performed.

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The GL Accounts column contains the link to the GL Accounts: Fixed Asset dialog box using which you can view the GL accounts involved in the transaction.

The GL Accounts: Employee Name Fixed Asset dialog box

In the Transaction Content column, provide a description of this beginning balance.

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