1 Topic by jll (edited by jll 10/28/2008 09:10:38 pm)

  • jll
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  • Registered: 10/28/2008
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Topic: how to purchase an asset?

I don't buy to resell but I bought some office hardware as company asset and sell services (not including office hardware of course smile ).

I tried to make a supplier invoice for these payable and entered non-items amounts in "GL Items for this Invoice" but tax is not calculated (and side effect is I cannot void this supplier invoice too).

Can someone tell me how to purchase assets?
Oh, and how to assign it to a asset account?

  • joe
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  • Registered: 03/15/2007
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Re: how to purchase an asset?

Hello,
I guess you ran into a bug in FrontAccounting. Voiding a supplier invoice/credit note with GL Items creates a database error. This bug has been fixed in the CVS repository at Sourceforge.net.
Waiting for the next minor release, you can make a supplier credit note to revert the transactions.
The tax is done automatically when entering GRNs, but if you enter GL Items you have to enter the tax items yourself.
Thanks for finding this bug smile

/Joe

  • jll
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  • Registered: 10/28/2008
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Re: how to purchase an asset?

Good to see I was not so dumb smile
I don't see usual account for hardware assets

Please let me know how to buy and assign an asset (with or without inventory involved).

Thanks for your prompt reply.

  • joe
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Re: how to purchase an asset?

Some of the demo chart of accounts as well as new chart of accounts do not contain specific accounts for long term assets that are depreciateable. In case there are no such accounts you must create these accounts yourself.

Then it is quite easy to use the supplier invoice to enter it by using the GL Items for this account and don't forget the ingoing tax as well.

So as you see, you can use supplier invoices for both stock items (GRNs) as well as other costs/long term assets.

/Joe

  • Registered: 07/29/2009
  • Posts: 12

Re: how to purchase an asset?

And how would we sell a fixed asset. I would like to provide an invoice to someone who purchased a used fixed asset that we disposed of.

  • Registered: 12/25/2007
  • Posts: 2,448

Re: how to purchase an asset?

Just entry it on Items page as a Service if don't want to register it as regular inventory item. Then you can issue invoice as usally.