When a fixed asset is set up and a depreciation book assigned, you must acquire the fixed asset. To acquire a fixed asset, you record its acquisition cost in the relevant G/L account, bank account, or vendor by posting an acquisition transaction.
Items can also be bought using a purchase order.
In this video we will walkthrough the above mentioned.
Contents
0:00 (Introduction)
0:48 (Create a new supplier or vendor)
5:19 (Create a purchase order to acquire a Fixed asset & an Item)
11:10 (Confirm the postings)
15:27 (Pay the Vendor using a payment journal)
20:24 (Fixed Asset Depreciation)
25:44 (Fixed Asset Reports)
26:43 (Conclusion)
