Fixed Assets - Enable account codes to be edited / updated
Currently, apart from rolling back depreciation prior to the first asset being allocated to an Asset Type, it isn't possible to update the accounts code without a lot of hassle.
For example, a general depreciation code may have been assigned to an Asset Type. If you would like to update this to a specific code, e.g. "Depreciation - Plant & Equipment", it is a difficult process with the potential for unintended changes to prior years.
As a result, a common workaround is having to do a journal to reallocate the depreciation amount for each period. However, if you could simply just edit the existing account code to apply for future depreciation postings, the issue would be fixed very simply resolved, and save any need for ongoing journals etc.
Phil Davis
shared this idea
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John Morgan
commented
I could do with this feature too. When adding to the chart of accounts to include fixed asset 'additions' and 'depreciation in the current year' I need to update the settings in fixed assets or else I have to manually update these new codes. The new codes makes it simpler to map for year end accounting software.
Will this be looked at?