Adjusting Fixed Assets

If for any reason you determine that you must adjust the accumulated depreciation, or the cost or basis for a fixed asset, you can use the adjustment transaction to complete the fixed asset adjustment. You use the adjustment window to adjust fixed asset values for specific periods of time. The adjustment window performs the general ledger entry for you.

When adjusting a fixed asset, you can adjust for the accumulated depreciation only, the cost or basis, or a combination of the two. The adjustment window requires that you identify an adjustment account. The adjustment account is used by e-automate to balance the general ledger entries for your defined adjustment, and does not allow unbalanced general ledger entries. Therefore, you must identify an account to balance the transaction before you perform an adjustment.

Adjusting a Fixed AssetAdjusting a Fixed Asset

From the Accounting menu, select Fixed Assets > Fixed assets to open the Fixed Assets list window.

In the Fixed Assets window, select the fixed asset to be adjusted.

Click [Adjust] to open the New Asset Cost Adjustment window.

In the Asset field, verify the fixed asset you selected, or change the asset as necessary.

In the Adjustment account field, use the lookup to select a general ledger account to ensure the transaction is balanced.

Note: If you enter amounts that cause an out of balance entry in the Base amount or the Accum. dep fields, e-automate uses the account identified in the Adjustment account field to balance the transaction.

Do one or more of the following:

In the Base amount field, enter your adjustment amount.

Note: Positive numbers add to the cost or basis of the fixed asset. Negative numbers subtract from the cost or basis of the fixed asset.

In the Accum. dep field, enter your adjustment amount.

Note: When you use a positive number in the Accum. dep field, e-automate increases the amount of accumulated depreciation. When you use a negative number in the Accum. dep field, e-automate reduces the amount of accumulated depreciation.

To identify a date range for the adjustment, identify the range in the From date and the To date fields.

Click [QuickAdd] to add your adjustment to the Assets list.

Repeat Steps 4 through 8 until you have added all the adjustments.

Click [OK] to post your adjustment to the general ledger.

Note: A transaction is added by e-automate to the fixed asset transaction list for your adjustment.