How Do I Set Up the Fixed Assets Module?

The following is a checklist for setting up the Fixed Assets module:

With Administrative User Rights

1. Change the Activation Code, if necessary, to incorporate Fixed Assets (System>Activate License).
2. Add the Fixed Assets module, if necessary (Organization>Add a Module).
3. Set up organization preferences for the Fixed Assets items (Organization>Organization Preferences).
4. Set up proper security for the Fixed Assets items (Security>Set Up Organization Menus).
5. Set up module preferences for the Fixed Assets items (Organization>Set Up Modules>Fixed Assets).

For Accounting

1. Create appropriate General Ledger accounts for Fixed Assets, including the depreciation expense (Exp type), the asset and accumulated depreciation accounts (both FAO type), and a gain/loss account for disposals (Maintain>Chart of Accounts Codes).
2. Set up depreciation distribution codes (Maintain>Distribution Codes).
3. (Optional) Set up custom depreciation codes, if needed (Maintain>Fixed Assets>Custom Depreciation Codes).
4. Set up asset types (Maintain>Fixed Assets>Asset Types).
5. (Optional) Set up designation codes (Maintain>Fixed Assets>Designation Codes).
6. Set up assets (Maintain>Fixed Assets>Assets).