Fixed Assets Preferences

Before you can quickly convert purchased items into fixed assets, you should specify the FA Accrual Account and FA Accrual Subaccount on the Fixed Assets Preferences (FA101000) form. This account and subaccount will be updated by the purchasing transaction. We recommend that you specify the same account on the Bills and Adjustments (AP301000) form when you create the bill.

The account and subaccount that you specified on the Fixed Assets Preferences form will be the default account and subaccount for all the transactions associated with converting purchased items made by using the Convert Purchases to Assets (FA504500) form. Also, this account will be the default account for the transactions made on the Reconciliation tab of the Fixed Assets (FA303000) form.