Default Accounts in Fixed Assets

Use default accounts to control where fixed asset transactions post and how their distributions balance. Configure a single account to balance automatically by fund and segment, or set a primary default with secondary accounts for specific circumstances. In Fixed Assets, you can set defaults for accumulated depreciation, disposal gains and losses, disposal proceeds, fixed asset credits, and reclassification. For an overview of related setup options, see fixed asset settings.

Accumulated Depreciation

Select the default account for accumulated depreciation. Select Single account to have the account balance automatically by fund and segment. Select Multiple accounts to create a default account using the selected fund segments. If you leave segments blank, they default from the accumulated depreciation account.

Disposal Gain

Select the default account for fixed asset disposal gains. Select Single account to use one account for every asset, or select Multiple accounts to create a default account using the selected fund segments. If you leave segments blank, they default from the disposal gain account.

Disposal Loss

Select the default account for fixed asset disposal losses. Select Single account to use one account for every asset, or select Multiple accounts to create a default account using the selected fund segments. If you leave segments blank, they default from the disposal loss account.

Disposal Proceeds

Select the default account for fixed asset disposal proceeds. Select Single account to use one account for every asset, or select Multiple accounts to create a default account using the selected fund segments. If you leave segments blank, they default from the disposal proceeds account.

Fixed Asset Credit

Select the default account for fixed asset credits. Select Single account to use one account for every asset, or select Multiple accounts to create a default account using the selected fund segments. If you leave segments blank, they default from the fixed asset credit account.

Reclassification

Select the default account to use in distributions. The default account uses the fund segments you select. If you leave segments blank, they default from the reclassification account.