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Entering fixed assets posting accounts

If you’re also using Payables Management or Purchase Order Processing—and have marked the by Account option in the Fixed Assets Company Setup window—you must set up accounts that will determine how and if fixed assets capital acquisition transactions will be posted to Fixed Asset Management when you enter vouchers in Payables Management or receipts in Purchase Order Processing.

Fixed Asset Management will be updated if the account you specify in a purchasing transaction also exists in the Fixed Assets Purchasing Posting Accounts Setup window.

Before you enter posting accounts, you must mark the following options in the Fixed Assets Company Setup window:

  • Post PM through to FA

  • Post POP through to FA

  • by Account

These accounts are not used by Purchase Order Processing if you mark the by Receipt Line option in the Fixed Assets Company Setup window.

Refer to Purchasing options for more information.

Use the Fixed Assets Purchasing Posting Accounts Setup window to enter account numbers that determine if a fixed asset recorded in Payables Management or Purchase Order Processing also will be posted to Fixed Asset Management.

To enter fixed assets posting accounts:

  1. Open the Fixed Assets Purchasing Posting Accounts Setup window. (Financial >> Setup >> Fixed Assets >> Purchasing Posting Accounts)

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  2. Choose Assigned to view only accounts already entered in this window. Choose All to view all the accounts in your chart of accounts.

  3. Enter or select an account number for a clearing account that will be used in Payables Management or Purchase Order Processing for a record you’re adding to the Fixed Assets purchasing transactions file. For more information about clearing accounts, refer to Account groups.

  4. You can enter or select a default class ID. If you’re using Payables Management or Purchase Order Processing and have marked the by Account option in the Fixed Assets Company Setup window and the account number for this posting account setup record is entered as the Purchase account, this will be the default class ID for this account in the Asset General Information window.

  5. Choose Save.

Keywords: fixed assets, posting, accounts