on 01-30-2014 3:59 PM
How do we post a fixed asset that is purchased but not in use until a later date?
Ideally, we would like to create the fixed asset master and purchase with an AP invoice but not have the system automatically update the Capitalization Date in the FA master.
Thank you
Lori
Hi Lori,
If you have posted a fixed asset that is purchased, but you do not want to update the Capitalization Date because it may not be in use until a later date. That sounds like a loop-hole to me.
No matter you are using it or not, it is part of your asset because you have paid for it!
Thanks,
Gordon
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es, I agree with Deepak. For example, we may purchase a machine that will need some adjustments to work in our business. Sometimes it may need additional parts added onto to it. Once it is ready for use is when it is capitalized. This is very common in the U.S.
We would book it on the balance sheet as an asset but do not want to have it create a capitalization date until it is in use. We depreciation once in use.
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