FC Asset Holding Accounts

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    Explains what the feature is or what its benefits are to the user or customer.

    FC Asset Holding Accounts

    Each asset has a general ledger holding account.  The holding account is used to record entries for capturing the value of asset, processing adjustments and realising assets.  Any entry that affects the asset value will be coded against the asset holding account and have an allocation to the asset.

    The asset holding account determines the asset’s currency.  You may specify a currency for any general ledger account which belongs to an asset class (Debtors, Plant and Equipment, Land, Other Assets, Bank etc.).

    To add a FC Asset holding account, in the Add New Account form (Financials > Accounts > Add Account) select an Account type which relates to an asset class and select the currency.  You may also add an account “on-the-fly” when adding an asset.