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Using a different Cost account for prior year additions

Received Response
edited Feb 15, 2021 5:36PM in Assets 1 comment


I am working with a Government Client. Fixed Assets has already been implemented and is being used currently and have asked for a few changes to cover the gaps in functionality. They use clearing accounts to bring the transactions from payables into assets. Any mass additions lines that are not capitalised in the year are shown as additions to assets as ‘Payments on account’ in the Annual Accounts. For the next year when the asset is capitalised the requirement is to show it as a reclassification/transfer from the ‘Payments on account’ to the capitalised category. The date will be used

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