Recording a fixed asset purchase

You can record your asset purchase from the Non-Current Assets section of the Balance Sheet.

 

To record the asset addition

 

  1. Within the forecast, open the Balance Sheet tab.
  2. Open the Non-Current Assets section, then locate the account you want to use to record the asset.
  3. Click the Fixed Asset rule alongside your asset account.

    Note: If you prefer, you can use the Add Account option to create a new account. To ensure the Fixed Asset rule appears against your account, you can add the rule using the Add Rule button.

  4. Select the required payment option for the asset:

    • Asset(s) paid for with Accounts Payable - If you want to record payment for the asset through Accounts Payable, without a loan, select this option.  You can then enter the timing of the payments in the Payment Schedule area.
    • Asset(s) paid for with Loan or HP - If you want to record a loan for the asset, select this option. You can then select the loan liability account to use from the Payment Account drop-down list.
  5. Click Next, then enter the asset purchase amount into the Asset Movements column.
  6. Click Next again, then click Save Rule.

  

 

  

To record repayment of the asset loan

Note: You only need to complete this section if your asset was purchased using a loan.

 This article explains how Loan repayments can be entered into your forecast or scenario.

 

To record depreciation

  1. Within the forecast, open the Profit & Loss tab.
  2. Open the Expenses section, and locate the Depreciation account.
  3. Enter the budgeted depreciation amounts directly into the yellow cells of the data grid.
  4. Click the EXP.DEP Default rule.
  5. Click Next, then enter the percentage of the amount you want to assign to each accumulated depreciation balance sheet account.
  6. Click Next, then click Save Rule.

 

 

Back to top

Release Notes - Terms of Use - Privacy Policy - Launch Application - Copyright © Spotlight Reporting 2017