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	<title type="html"><![CDATA[FrontAccounting forum — Fixed Asset Category Configuration and GL Accounts]]></title>
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	<updated>2018-07-02T14:31:42Z</updated>
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	<id>https://frontaccounting.com/punbb/viewtopic.php?id=7596</id>
		<entry>
			<title type="html"><![CDATA[Re: Fixed Asset Category Configuration and GL Accounts]]></title>
			<link rel="alternate" href="https://frontaccounting.com/punbb/viewtopic.php?pid=32049#p32049" />
			<content type="html"><![CDATA[<p>You can also change the field labels using a &#039;translation&#039; if you want?</p>]]></content>
			<author>
				<name><![CDATA[poncho1234]]></name>
				<uri>https://frontaccounting.com/punbb/profile.php?id=19944</uri>
			</author>
			<updated>2018-07-02T14:31:42Z</updated>
			<id>https://frontaccounting.com/punbb/viewtopic.php?pid=32049#p32049</id>
		</entry>
		<entry>
			<title type="html"><![CDATA[Re: Fixed Asset Category Configuration and GL Accounts]]></title>
			<link rel="alternate" href="https://frontaccounting.com/punbb/viewtopic.php?pid=32044#p32044" />
			<content type="html"><![CDATA[<p>@jkent3rd: Thanks for the info.<br />Stands <a href="https://frontaccounting.com/fawiki/index.php?n=Help.FixedAssetCategory">Wiki</a>-ed.</p>]]></content>
			<author>
				<name><![CDATA[apmuthu]]></name>
				<uri>https://frontaccounting.com/punbb/profile.php?id=364</uri>
			</author>
			<updated>2018-07-02T06:53:57Z</updated>
			<id>https://frontaccounting.com/punbb/viewtopic.php?pid=32044#p32044</id>
		</entry>
		<entry>
			<title type="html"><![CDATA[Re: Fixed Asset Category Configuration and GL Accounts]]></title>
			<link rel="alternate" href="https://frontaccounting.com/punbb/viewtopic.php?pid=32043#p32043" />
			<content type="html"><![CDATA[<p>So after I&#039;ve dug through everything this is what I have determined:</p><p>-The field labeled &quot;Asset Account&quot; is where you select the GL asset account that will hold the purchase value of the fixed asset.<br />-The field labeled &quot;Sale Account&quot; is where you select the GL income/revenue account you wish the revenue from the disposal of the asset to be recorded at the time of sale.<br />-The field labeled &quot;Depreciation Cost account&quot; is where you select the GL expense account for depreciation expense to be debited/recorded each time depreciation is run.<br />-The field labeled &quot;Depreciation/Disposal Account&quot; is where you select the GL contra-asset account for the accumulated depreciation to credited/recorded each time depreciation is run.</p>]]></content>
			<author>
				<name><![CDATA[jkent3rd]]></name>
				<uri>https://frontaccounting.com/punbb/profile.php?id=42663</uri>
			</author>
			<updated>2018-07-02T03:35:14Z</updated>
			<id>https://frontaccounting.com/punbb/viewtopic.php?pid=32043#p32043</id>
		</entry>
		<entry>
			<title type="html"><![CDATA[Re: Fixed Asset Category Configuration and GL Accounts]]></title>
			<link rel="alternate" href="https://frontaccounting.com/punbb/viewtopic.php?pid=32036#p32036" />
			<content type="html"><![CDATA[<p>Some of the accounts are determined in Setup -&gt; System and General GL Setup.</p><p>You can also add as many accounts as you like.</p><p>Suggest you set up a training company 1st, this will also help you understand the program.</p>]]></content>
			<author>
				<name><![CDATA[poncho1234]]></name>
				<uri>https://frontaccounting.com/punbb/profile.php?id=19944</uri>
			</author>
			<updated>2018-07-01T14:20:33Z</updated>
			<id>https://frontaccounting.com/punbb/viewtopic.php?pid=32036#p32036</id>
		</entry>
		<entry>
			<title type="html"><![CDATA[Fixed Asset Category Configuration and GL Accounts]]></title>
			<link rel="alternate" href="https://frontaccounting.com/punbb/viewtopic.php?pid=32033#p32033" />
			<content type="html"><![CDATA[<p>While setting up a fixed asset category, its unclear which specific GL accounts the names are referring.</p><br /><p>I expected to find:<br />The Asset Account<br />The Contra Accumulated Depreciation Account<br />The Expense Account<br />The Gain/Loss GL Account </p><p>What I find instead are:<br />A Sales Account<br />An Asset Account<br />A Depreciation Cost Account<br />A Depreciation/Disposal Account</p><p>I&#039;ve been trying to read the code, but not certain how these named accounts map to the accounts I would expect to see in a depreciation transaction or in an asset disposal transaction.</p><p>John</p>]]></content>
			<author>
				<name><![CDATA[jkent3rd]]></name>
				<uri>https://frontaccounting.com/punbb/profile.php?id=42663</uri>
			</author>
			<updated>2018-07-01T02:42:49Z</updated>
			<id>https://frontaccounting.com/punbb/viewtopic.php?pid=32033#p32033</id>
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