Attaching Fixed Assets to Multiple Insurance Policies

You can attach a fixed asset to different insurance policies. You attach the fixed asset to the first insurance policy when you post acquisition costs from a purchase invoice, FA G/L Journal or FA Journal by filling in the Insurance No. field, and then to other insurance policies by posting insurance journals.

To Attach Fixed Assets to Multiple Insurance Policies:

  1. Open the Purchase Invoice window.

  2. Press F3 to create a new invoice.

  3. Fill in the invoice with the relevant information.

    Note that the FA Posting Type and the Insurance No. fields are not included in the standard layout, but you can insert them with the Show Column function.

  4. Click Posting, Post, to post the invoice.

    If you have not inserted a check mark in the Automatic Insurance Posting field in the Fixed Asset Setup window, the program will have created a line in an insurance journal. To create an insurance coverage ledger entry, you must post this journal.

    To attach the fixed asset to a second, third and so on insurance policy, you must post the entry from the insurance journal.

  5. Open the Insurance Journal window.

  6. Fill in a line. For Help about a specific field, click the field and press F1.

  7. Click Posting, Post, to post the insurance journal line.

Related Topics

Setting Up Posting Types

Setting Up General Default Values for Fixed Assets

Insurance Information Setup

Linking Fixed Assets to Insurance Policies

Updating Insurance Information

Monitoring Insurance Coverage