Minimum Version Required: 22.01
Steps
How to Add a Fixed Asset Account Map
1. Navigate to the ‘Fixed Asset Account Maps’ table, using the universal search bar.
2. Click Add Fixed Asset Account Maps.
3. Enter values to all required and applicable optional fields displayed in the Add Fixed Asset Account Maps form.
Note: the "Fixed Asset Account" must be an account that uses the Fixed Asset account type code. The "Accumulated Depreciation Account" must have an account type code of Accumulated Depreciation (this can be updated on the Account record).
4. Click Add Record when completed
Fields And Definitions
*Company - The Company this map is associated with.
Location - The Location this map is associated with.
Asset Category - The category the asset belongs to that will define how assets are being depreciated over time.
Fixed Asset Account - The General Ledger account being used to track your fixed asset.
Accumulated Depreciation Account - The General Ledger account being used to track Accumulated Depreciation.
Expense Account - The depreciation expense account that you will use to track your fixed asset.
Best Practices
The Asset Category field is not required but can be used to track assets through different accounts.
a. If all assets will use the same account then leave this field null.
b. If multiple asset categories will be tracked with separate accounts, then create a record with each asset category defined with the appropriate accounts.