Frequently Asked Questions

These are some frequently asked questions.

• Q: Can I enable Fixed Assets for just one company in a multi-company setup?

  A: Yes. Company variable 81 is a per-company setting. Enable it only for the companies that need Fixed Assets.

• Q: Do I need to create all five GL accounts, or can I reuse existing ones?

  A: You can reuse existing accounts if they meet the type requirements, are automatic, and are not blocked. However, dedicated accounts can make fixed asset reporting clearer.

• Q: What is the suspense account used for?

  A: The suspense account is a temporary holding area. When you post a creditor invoice for an asset purchase, the cost is first recorded in the suspense account. When you later capitalize the asset, the amount is transferred from the suspense account to the asset cost account. This two-step process gives you control over when and how costs are recognized as fixed assets.

• Q: What happens if I forget to create the journal type?

  A: Fixed asset operations that create journal entries, including capitalization, depreciation, revaluation, and disposal, can fail. Validation of finance settings in Step 6 is designed to catch this issue.

• Q: Can I add more asset groups later?

  A: Yes. You can create asset groups at any time. Groups can also be created automatically during a Fixed Assets Import.