If I had purchased an asset before 01-04-2013 then how can I account for it?
If the Assets are purchased in the Last year, you can consider them as a Opening Balance. To record it, please pass a journal entries by following the below steps:
Step 1: Go to General Ledger --->> Journal Entries -->> Create Journal Entry -->> Enter Journal Note -->> Journal Date -01-04-2013
Step 2: Enter Amount -->> Debit Account Fixed Assets(Asset Name)(Can be created under General Ledger >> Chart Of Accounts >> Assets >> Asset Accounts) -->> Credit Account Opening Balance.
How to record a Capital Expenditure or Capitalized Fixed Assets?
Recording a Capital Expenditure or Capitalizing Fixed Asset have 5 major steps. Step 1: Creating Asset Account A. Go to Admin -->> General Ledger -->> Chart of Accounts B. Click on Assets Tab C. Create assets accounts as mentioned at this link Note: ...
How to create ledger account?
Step 1: Go to Admin -->> General Ledger -->> Chart of Accounts Step 2: Select the respective option from Asset/Liabilities/Income/Expense for type of ledger account you want to create. Step 3: Select the Group from "Group" list box. Step 4: Enter ...
I need to capitalise a Fixed Asset?
Answer-->> a) Go to General Ledger -->> Chart of Accounts -->> Assets --->> Assets Accounts -->> create new account. (For example - Fixed Asset - Computer). b) Go to General Ledger -->> Chart of Accounts -->> Expenses --> create a new account - Fixed ...
How to add assets?
ADDA provides you the facility to add assets which belong to your apartment complex (eg: Gym equipment , Office electrical , etc). This will help you with the details of the assets like the last AMC done,cost of the assets,etc. Step 1 : Login to ADDA ...
How to store a financial asset on ADDA?
Follow the steps below 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. ...