How to store a financial asset on ADDA?
Step 1: Login to ADDA >> Admin >> Asset & Inventory >> Asset >> Create an asset category as 'Financial' under the Setup tab>> Save Changes.
Step 2: Click on 'Add Asset' under the Assets tab.
Step 3: Enter asset details. For Example,
Asset name: ex- SBI FD corpus fund
Tag no.: actual certificate no.
Cost: Principal asset amount.
Step 4: Click 'Create asset'.
Step 5: Once the asset is created, click on 'More details' shown corresponding to it.
Here you can store more information like,
Note: Interest rate given by the bank, and what will be the maturity amount.
Scanned doc: Store actual FD certificate
Set Reminder : Maturity date
Note: This entry is only for assets upkeep. No impact on accounting.
Separate Financial entry for this FD and accrued interest is to be made in consultation with your auditor or accountant.
Related Articles
Financial data migration on ADDA
The System allows bringing in ACTIVE Financial transactions of the Current Financial Year. This is possible if the Subscription has started before 1-January of the current Financial Year. If Subscription has Started on 1-January and later, ...How to upload the Last Year's Financial Statement?
When you start updating the accounting entries on ADDA, you can update the Last Year Financial Statement by creating journal entries: For example, if you have a Balance Sheet for the Year 2019-20, you can enter the details as opening balance as of ...Updating of Vehicle, Staff and Asset data
Vehicle, Staff and Asset data can be updated one by one OR can be updated through bulk upload. In case you want the bulk upload, Please login to ADDA and go to, Admin >> Admin Files >> ADDA Agreements >> Here find all three templates. Please fill in ...What is the Journal Entry for Asset Depreciation?
Reduction in value of tangible fixed assets due to normal usage, wear and tear, new technology or unfavorable market conditions is called Depreciation. Journal entry for depreciation depends on whether the provision for depreciation/accumulated ...What is financial statement?
A financial statement is a formal record of the financial activities of a business, person, or other entity reflecting true and fair financial information. Relevant financial information is presented in a structured manner and in a form easy to ...