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NSC | Fixed Asset Management Processes > Accounts that must be set

edited Jan 10, 2024 8:04PM in Accounting / ERP

When creating Fixed Asset Management records, make sure that the accounts are all set to avoid future errors when running FAM processes.

These accounts include following:

Note: This can be found by navigating to: Fixed Assets > List > Assets > Edit the Asset Record > On the Accounts subtab

If these accounts are not set, the following errors may occur:

  1. When running an Asset Transfer: "JOURNALERROR: One or more posting accounts are missing"
  2. When generating a Depreciation Schedule: "Invalid_Precalc_Field_Value: Please enter value(s) for: Depreciation Account, Depreciation Charge Account"
  3. When running an Asset Revaluation: "Invalid_Precalc_Field_Value: Please enter value(s) for: Depreciation Account, Depreciation Charge Account"

Micah Patricia Timbol | Basic and Advanced Accounting, OTC Guru

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