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To link the inventory items listed on the Inventory tab with specific fixed asset, you must create a master record for this fixed asset first.
Note. If If you purchased or created multiple identical units of the item which will be used as fixed assets, you must create a unique name and assign a unique ID to each unit of this item, that is, you must create a separate fixed asset master record for each unit.
Once the document is posted, the fixed asset is considered accepted for accounting. By default, and by default its status changes to Active.
The "Fixed Asset Entry (create)" form. The Fixed Asset tab
Click Add on the toolbar to append a line to the document.
In the Fixed Asset field, select or create on the fly a fixed asset to be associated with the inventory items listed on the Inventory tab.
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The Depreciable Cost field is automatically populated with the amount that is equal to difference between the Initial Cost and Salvage Value.
In the Depreciation methodMethod field, you can select one of the following depreciation methods available:
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The UOM and Estimated Production Volume fields are used only for assets for which the Units of Production is selected as the depreciation method. You can enter the maximum usage in the specified UOMs required for full depreciation of the asset.In the Depreciation Method field, you can select one of the following depreciation methods available:
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asset
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Use the Useful Life (Months) field for entering the number of months the fixed asset is being planned to be used.
A check box selected in the Depreciate field indicates that for this asset the system will calculate depreciation in accordance with the selected method until the asset will be disposed of or fully depreciated. By default, the depreciation starts in the month next to the date of the document.
A check box selected in the Depreciate in Current Month field indicates that depreciation must be calculated in the month when the asset was accepted for accounting.The Expense GL Account field shows the default GL expense account selected for transactions with the fixed asset. If needed, you can assign another GL account from the Expenses section of COA.
In the Department field, you can specify a department or warehouse to be linked with the depreciation costs and usage of this fixed asset.
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