You must set up ledger accounts in the form for the posting profiles of fixed assets. You can set up balance sheet accounts and profit and loss accounts.

  • Balance sheet accounts are where the value and value adjustments of fixed assets are posted.

  • Profit & loss accounts are where depreciation, value adjustments, and profits and losses on fixed asset disposal are posted.

Because countries and regions have different accounting standards and requirements, the specific setup of these accounts differs greatly. Even the fixed asset accounts of subsidiaries in the same country/region and within one company can differ because of internal accounting policies and various demands for detail in ledger information.

If ledger accounts for fixed assets are not set up already, refer to the posting profile structure for fixed assets to determine what kind of accounts might be needed.

  1. Click > > > .

  2. If no posting profiles are set up, Createa posting profile with a random name, which can be deleted later.

  3. Click the tab.

    You can now see the transaction types in the pane, the field, and the accounts ( and ) that are required for posting fixed asset transactions.

  4. Click > Common Forms> , to verify that the appropriate accounts have been set up for the level of fixed asset posting that your company requires.

    If you are not sure about the account structure, we recommend that you consult an accounting expert.

In addition to setting up the ledger accounts that are used in , you might need to set up an account for posting the provision types and .

  1. Click > > > tab.

  2. Verify in the selection list of the field that an appropriate account to record provisions has been set up, if you plan to use this functionality.

See Also