How to Create GL Accounts for Fixed Asset
1. General Ledger > Set up > Segments Account "Should open Segment Account screen" screen
2. Select Segment Name
Primary Account
3. Click Insert button
Add the following:
Code | Description | Chart Desc | Account Group | Account Category | Type |
16001 | Asset Account | Asset Account | Asset | Fixed Assets | Asset |
16002 | Accumulated Account | Accumulated Account | Asset | Accumulated Depreciation | Asset |
20002 | Offset Account | Offset Account | Liability | General | Liability |
40001 | G/L Account | G/L Account | Revenue | Fixed Asset Gain or Loss | Revenue |
50004 | FA Gain/Loss | FA Gain/Loss | Expense | Depreciation Expense | Expense |
4. Click Save button
5. Click Build button "Should open Build Account" screen
Filter the Primary Codes
6. Select Segment Codes
LOB = 000
Location = 0000
7. Click Build button "Should open Commit Chart of Accounts" screen
8. Click Commit button
9. Should show this message:
10. Click OK
11. Close all active screens