• From: Bangladesh, Dhaka
  • Registered: 03/02/2021
  • Posts: 2

Topic: How to Create an opening balance in Fixed Assets?

I have an existing company accounts in another accounting software. Now I want to transfer the accounts from that software to the FrontAccounting system. I have the fixed assets balance and the accumulated depreciation balance in that software. How shall I transfer these balances directly to FrontAccounting?

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,089

Re: How to Create an opening balance in Fixed Assets?

As opening balance or a set of Asset depreciation entries or as a single consolidated asset depreciation entry.

apmuthu's Website

  • From: Bangladesh, Dhaka
  • Registered: 03/02/2021
  • Posts: 2

Re: How to Create an opening balance in Fixed Assets?

As an opening balance

  • From: South Africa
  • Registered: 11/24/2009
  • Posts: 274

Re: How to Create an opening balance in Fixed Assets?

I have been watching this module developed over a number of years. I have not used it to date, since I do the records for these assets in a macro excel spreadsheet with all the individual assets, classes, venues etc. and just enter the accumulated depreciation and depreciation for a particular year.

Now that FA has developed this module, and I want to import 100's of assets from the previous excel spreadsheet, it seems that somehow it will be quite a complicated process to add these assist one by one, into FA. Some still have depreciable values whilst others are already at Zero.

This seems to be too much of an effort to add these hundreds of individual assets.

Thanks
Any alternative suggestions that we could add to the wiki for the take on of existing assets.

Wynand

seahawk's Website

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,089

Re: How to Create an opening balance in Fixed Assets?

Create an anatomy for the Fixed Assets Entry:
1. Take FA backup
2. Make single Fixed Asset Entry
3. Take second FA backup
4. Check the difference between the two backups
5. Create a set of INSERT and UPDATE statements to achieve the same.
6. Substitute the values for all other entries say from excel.
7. In one shot, load in all the sqls into the FA db.

apmuthu's Website