Asset Transaction Types

Once an asset record exists and has an acquisition transaction, you can select types such as depreciation, improvements, and disposal.

Tip: For details about adding asset transactions, see Add Asset Transaction.

Period depreciation — Records the depreciation of an asset for one period of a depreciation year. Financial Edge NXT calculates the depreciation or you can enter it manually. These transactions must be entered sequentially and without gaps. You can delete them if a recent transaction hasn't been recorded for the asset.

Annual depreciation — Manually enter the entire year of depreciation. You can create only one annual depreciation transaction per year for an asset and it must occur in the current year.

Asset improvement — Record changes made to an asset that increases its value.

Asset disposal — Record the disposal of an asset. This transaction enters a credit to the asset account and a debit to the accumulated depreciation account to zero out the book value of the asset. Any remaining portion of the transaction posts to the disposal loss account. If the disposal is a sale, you can record the proceeds from the sale. Once the asset has been disposed, you can't delete the disposal transaction.