[Edie Bertoncini]

Hello Fellow Members,
I have a question regarding fixed assets.

The issue: in reviewing year-end financials, we discovered that there were two invoices entered in AP that should have gone to a fixed asset account…they did not of course.

1. The question, since our fixed assets usually get transferred by using the appropriate GL distribution when entering the invoice, how do we get those amounts added to fixed asset module? would it be similar to adding a capital asset ?
2. Since this should have been done a couple months back, would the depreciation for a single asset calculate in December for the entire number periods affected?

Any suggestions?

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Thank you,
Edie Bertoncini
Corporate Controller
Insurance Administrative Solutions
Clearwater FL
edie.bertoncini@iasadmin.com
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[Jan Varghese]

Hi!

You can manually add these into the FA module since they’re not available on the drop down.

As for depreciation, you’ll need to do a catchup depreciation. 

I hope this helps! I’ll check back later if you’re not clear.

jan

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Jan Varghese
The Simons Foundation
New York NY
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[Melissa Turngren]

Hi,
You can manually enter them into the FA module (card then FA and General). Then your acquisition date would be the date the asset should have been added.  Then of course once you’ve gone through and entered/updated the account and book info then you would do a GL posting.  If you’ve already done your depreciation for the month of December then you would do depreciate one asset, and enter in the asset id, and the depreciation date of 12/31/16.  If the acquisition date is lets say October 2016 it will catch up for October, November, and December’s depreciation. Then don’t forget to do another GL Posting after that for December.
Hope this helps
Melissa

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Melissa Turngren
Regional Enterprises, Inc.
Ashland WI
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