How do I record the purchase of an asset?

Click on the following Knowledge Base item link:  Adding an Asset account and Balance Sheet Linked accounts, to make sure you have the correct account codes necessary to record the purchase of an Asset.

Step 1.

• Click on the Cashbook toolbar option.
• Click on the Add button.
• Click Yes to the Confirm message: ' Do you want to enter transactions for "Bank Account", in the file "Company ABC"?

Step 2.

In the Add Transactions window:

• Type - Payment
• Date -
• Reference - EFT, BPAY etc
• Paid To - name of supplier e.g. John Deere Financial
• Gross Amount Including GST - amount paid
• Dissection Details
  • Code - account code of purchase account 
  • Enterprise - optional
  • Quantity - optional
  • Note - name of fixed asset purchase
  • Click on the tab key - this will take you to the Fixed Asset register.

Step 3.

Note: Adding an item to the Fixed Asset Register is only applicable to those on Level 4.

• Enter details.

Note: value of asset does not include GST (net).

For example:

• Click OK to save.

• Click OK to save transaction.

Click on the following Knowledge Base link for Setup loan accounts to finance an asset purchase.