apmuthu wrote:
Transfer all costs of the building to a suspense account by journal entry from the expense account and then journal a consolidated entry as building asset entry.
Hello, I stumbled on the same question of starting to deal with fixed assets and not understanding how to "journal a consolidated entry as fixed asset entry". When I look at GL entries for fixed asset purchase I cannot find any difference with a normal item purchase... I don't understand how to "transfer" items to fixed asset entries, apart from cancelling the purchases and redoing them...