Defining Asset Accounts and Values for Multiple Books

General ledger accounts on the Accounts tab of the Asset Type record will store the primary book values. For more information about defining asset accounts, refer to Accounts Subtab.

The Accounts subtab in the FAM Default Alternate Depreciation tab will be used to store secondary book general ledger accounts. You can associate existing FAM default alternate depreciation to an accounting book by assigning a Book ID and populating other secondary book fields.

Changes to saved default alternate depreciation are prospective. Existing assets using the old default alternate depreciation will not be affected. You can override the alternate depreciation for default asset types in the Depreciation History subtab of the asset record. For more information, see Depreciation History Subtab.

The Other Methods subtab in the asset type will be displayed only after you save the Asset Type record

Note:

You can set different depreciation methods per accounting book. .

Related Topics

Fixed Assets Management Overview

Setting Up the Fixed Assets Management System

General Ledger Accounts for Fixed Assets Management

Asset Transfer Accounts

Depreciation Methods

Alternate Methods (Tax Depreciation Methods)

Managing Assets

General Notices