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Page 1 of 2 Asset acquisitions, revaluations and any other asset related transactions are all entered using SunSystems Ledger Entry ( LE) or Ledger Import ( LI). The fixed asset transaction you enter posts a value to both the General Ledger account and Fixed Assets record simultaneously. Asset related transactions must be entered using journal types set up specifically for fixed assets. Before you enter a ledger transaction to record an asset acquisition, you may need to: 1. Set up the new asset using Fixed Asset Setup (FAS) 2. Set up a new balance sheet account using Chart of Accounts Setup (CA) At the end of this session you will be able to:
1. Identify Journal Definitions specific for Asset Details Entry.
2. Identify the different asset markers used by the system.
3. Record Asset Values
Asset acquisitions, revaluations and any other asset related transactions are all entered using SunSystems Ledger Entry (LE) or Ledger Import (LI). The fixed asset transaction you enter posts a value to both the General Ledger account and Fixed Assets record simultaneously. Asset related transactions must be entered using journal types set up specifically for fixed assets. Before you enter a ledger transaction to record an asset acquisition, you may need to: 1. Set up the new asset using Fixed Asset Setup (FAS) 2. Set up a new balance sheet account using Chart of Accounts Setup (CA) At the end of this session you will be able to: 1. Identify Journal Definitions specific for Asset Details Entry. 2. Identify the different asset markers used by the system. 3. Record Asset Values As stated, Journal Entries are used to record all changes in an assets value e.g. Initial Value, Cost Adjustments, Depreciation, Disposals It will be necessary to ensure that relevant Journal types are defined to cater for all types of asset entry you wish to enter.
Journal Types Setup (JT) is used to define each required type of asset journals. You must set the Enter Asset Details option on the journal type to enable the following asset details to be entered on a ledger transaction: 1. Asset code 2. Asset subcode 3. Asset indicator Navigation Drop Down Menu – you can either use the Short Cut Keys, JT or you can scroll down. Using Navigation Manager - you can navigate through the navigation pane. Select Setting up Sun Systems / Setting up Ledger Accounting / Journal Types / Journal Types Setup, then select Journal Types Setup for FAAV
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Fixed Assets 
