• From: USA
  • Registered: 02/05/2018
  • Posts: 37

Topic: Can the Initial Value field for a fixed asset be edited?

I own injection moulds that I want to add as Fixed Asset but the tooling was purchased years ago and outside of FA.  It appears that the process of purchasing the asset is how the Initial Value is set.  There doesn't appear to be any way to edit the assets Initial Value field after the asset has been purchased.  I've checked the permissions associated with Administrator but don't see anything that allows editing Fixed Assets.

So, is my only option then to purchase the asset in FA and then do a JE to reverse the credit to Bank and the debit to Capital Assets account?

  • From: USA
  • Registered: 02/05/2018
  • Posts: 37

Re: Can the Initial Value field for a fixed asset be edited?

After reading what I had written I realized that I had misspoken.  Everything is accurate except for the tooling purchases being outside of FA.  The expenses for the tooling were captured in FA years ago but at the time fixed assets were not established.  Now I want to create those fixed assets.