Default GL accounts for the fixed asset of any type are predefined; however, you can select another accounts for fixed assets of a particular entity, or particular group of fixed assets, or for particular fixed assets.

The following fields are required: Type, GL Account, Depreciation GL Account, and Expense GL Account fields.

The "Fixed assets (create)" form. GL accounts

The Entity field is not the required one. You can select an entity if you are creating a set of default account for the particular entity's fixed assets.

You can leave the Fixed Asset field empty if you are creating a set of default account for all the fixed assets of one of the type. Otherwise, you can select a group of fixed assets or a particular fixed asset.

In the Type field, you must select the type of fixed assets (Intangible Assets or Fixed Assets) to which the specified accounts will be applicable is the required one. If the fixed asset (or a group of assets) is selected in the Fixed Asset field, the value in the Type field cannot be changed.

The Chart of Accounts section

A blue link under the heading leads to the document that registered the fixed asset accepted for accounting.

In the GL Account field, select a GL account to be used to register the costs of assets.

The Depreciation GL Account field is intended for the account to be used to track depreciated cost.

In the Expense GL Account field, you can select the default account for recording the depreciation costs.

The toolbar buttons

Click Save and Close to save the set of default accounts or changes to such set. Click Close to close the form without saving.