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Fixed Asset > Add Item
Fixed Asset > Add Item
- Priyasri Subramaniam (Unlicensed)
Owned by Priyasri Subramaniam (Unlicensed)
Menu Path: Accounting > Fixed Asset > Add Item
Fixed Asset is also known as Non-Current Assets and appears on the Debit side of the journal on the event of purchasing the asset and will appear on the Credit side of the journal on the event of disposal or sales. Fixed Asset will be valued at Historical Value in the Balance Sheet by deducting the depreciation value and will be sold or disposed at Market Value.
- Select the company and create Item Code as well as the Item Name.
- As for the Item Category, it functions similarly as Inventory > Add Item.
- The Item Category can be configured for each stages. The name can be changed.
- For example, Company XYZ purchases chairs for 100 employees, company's cafe and company's hangout area. The chairs are classified as fixed asset. Therefore, the item category can be changed as listed in the table below:
| Item Category | After Configuration; Change To | Sample |
|---|---|---|
| Level 0 | Type of chair | office chair, bench, stool, sofa |
| Level 1 | Brand | Author, Nightingale, Varier |
| Level 2 | Colour | Black, White, Gold |
Related Configuration
- The above sample displays the configuration that could be set for each levels.
- There are total of 10 levels to configure as preferred.
- To configure, go to Control Panel > System Admin > EMP Configurations > Inventory and configure at Item Category Level Naming Skim.
- This field shares the same configuration with Inventory > Add Item for Item Category field.
Related WIKI Pages
Found 5 search result(s) for Fixed asset.
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