Fixed Assets Accounting Setup

Before you can use the Fixed Assets application area, you must set up default G/L accounts, and journal templates and batches that are used for posting.

Posting Groups

You use posting groups to define groups of fixed assets (for example, cars, machinery and telephones). Entries for these posting groups are posted to the same G/L accounts.

Allocation Keys

Transactions can be allocated to various departments and/or projects, according to user-defined allocation keys.

Journal Templates

A template is a pre-defined layout for a journal. The template contains information about trace codes, reports and number series.

Journal Batches

You can set up multiple journal batches, that is, individual journals for each journal template. For example, employees can have their own journal batch that uses the employee’s initials as the journal batch name.

The data you enter in a journal batch for posting is placed on the journal lines. You can create as many journal lines as you need under a journal batch. After you post the lines, they are deleted.

Related Topics

Fixed Assets Setup

Setting Up FA Posting Groups

Setting Up Allocation Keys

Setting Up FA Journal Templates

Setting Up FA Journal Batches

Setting Up FA Reclassification Journal Templates

Setting Up FA Reclassification Journal Batches