Create Depreciation Method
1. Fixed Assets > Maintenance > Depreciation Methods
2. Click New button
3. Enter these information
Header:
- Depreciation Name: SL-T45-<unique no.>
- Depreciation Type: Straight Line
- Service Years: 1
- Months: blank
- Convention: Actual Days
*Take note of Depreciation Name
4. In the grid, enter these % Percentage
- % Percentage: 100
5. Click Save button
6. Click Close button
7. Click Close button
Create Fixed Asset
1. Fixed Assets > Activities > Fixed Assets
2. Click New button
3. Enter these information
Details tab:
- Asset Description: FA Test-T45-<unique no.>
- Location: ADMIN LOCATION
- Serial No: T45-<unique no.>
- Notes: Test Notes-T45
- Date Acquired: Yesterday
- Default placed in service: Today
- Depreciation Method: <Depreciation Name noted in Step 3>
- Default Cost: 1,000.00
- Default Salvage Value: 100.00
*Take note of Asset No
*Take note of Asset Description
*Take note of Serial No.
4. Go to GL Accounts tab and set GL Accounts <How to Create GL Accounts for Fixed Asset>
5. Click Save button
6. Go to Depreciation Methods tab and verify information
7. In Depreciation Methods tab, add a record for booking of Tax
8. In a new row, add this record
- Book: Tax
9. Click Save button
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