In some pro packages there is a Fixed Assets and Depreciation Module available (at extra charges). For convenience sake it is easy to use a separate Ledger for say Inventory, another for Computer Equipment and yet another for cars and vehicles etcetera.
Most of the time the General Ledgers for Fixed Assets are printed or exported and a spreadsheet is maintained. It is not very hard to calculate monthly depreciation, and a printout from the sheet can be used as Journal Entry Material. Save a bundle on extra modules ;-) With SQL ledger that is no saving however. SOP (Standard Operating Procedures) is to copy any invoice re Fixed Assets and file that with the Depreciation Sheets, so that you remember to update the sheet as well for new items. Your external accountant will be thankfull, and it is good practice to document your balance sheet items. The more you do yourself, the less any external party can invoice you for, right? I did not see any fixed asset module in the what's ahead section yet, so I guess Dieter is working on other items first. Maybe when he is bored or has time to spare? For any sale: you calculate the net book value, reverse entries on the asset and depreciation account and post any plus or minus you get versus the sale price to 'profits/losses on sale of capital items'. Cheers, Paul -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]] On Behalf Of John Summerfield Sent: zaterdag 3 augustus 2002 9:15 To: [EMAIL PROTECTED] Subject: [SL] How do I record assets? I have on my desk an invoice with these line-items: Computer Laser printer Coffee tables & cupboard Office chairs Whiteboard For the sake of argument, we can assume I intend to sell the computer & printer, the tables and chairs are office furniture and the whiteboard is for private use. I can create items for inventory and record the computer and printer, no problems there. I'm happy to do the same for the whiteboard - I can process it as a sale at cost, and that's fine by me. Whether I call it a "whiteboard" or "item for personal use" I don't care. What I have not discovered is a way of adding assets so I can record the furniture and other items that are for office use. Once I do manage to enter assets, how do I depreciate them? Is that a manual process? ------------------------------------------------------- This sf.net email is sponsored by:ThinkGeek Welcome to geek heaven. http://thinkgeek.com/sf ------------------------------------------------------- (un)subscribe: http://lists.sourceforge.net/lists/listinfo/sql-ledger-users Archive: http://www.mail-archive.com/[email protected]/ ------------------------------------------------------- This sf.net email is sponsored by:ThinkGeek Welcome to geek heaven. http://thinkgeek.com/sf ------------------------------------------------------- (un)subscribe: http://lists.sourceforge.net/lists/listinfo/sql-ledger-users Archive: http://www.mail-archive.com/[email protected]/
