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CCH Software User Documentation

Buying and Selling Assets

 

During the year, assets are bought and sold and the Fixed Asset Register needs to be updated. 

Buying a new asset

When an entry in Accounts Production debits an Additions account for an asset class held in the Fixed Asset Register, an Analyse in Fixed Asset Register? message appears.

If you answer No, continue to the next data entry, leaving the nominal ledger out of sync with the additions in the Fixed Asset Register. You can go into the Fixed Asset Register later to reconcile them.

 If you answer Yes, then a new tab opens showing the

You are taken to the Asset screen in Fixed Asset Register to add the new asset. Add the Asset and, on clicking Save, you are taken to the Asset Movement screen to create the Addition entry.

The Movement defaults to Addition. The Date, Description and Value all default to the values in Accounts Production 

It could be that the entry does not represent a single new motor vehicle. It could represent multiple assets. In either case, you can use the Fixed Asset Register to make the necessary changes.

When work is complete, close the Fixed Asset Register tab to continue with data entry in CCH Accounts Production.
 

Selling an asset

When an entry in Accounts Production credits a Disposal account for an asset class held in the Fixed Asset Register, an Analyse in Fixed Asset Register? message appears.

 

If you answer No, continue to the next data entry, leaving the nominal ledger out of sync with the 
out of sync with the disposal proceeds in the Fixed Asset Register. You can go into the Fixed Asset Register later to reconcile them. In this case, the P/L on Disposal account in the nominal ledger may relate to more than one Asset Class, but the system can still detect that the balances disagree with the Fixed Asset Register.

 If you answer Yes, then a new tab opens showing the Fixed Asset Register.

If the P/L on Disposal account  relates to only a single Asset Class then you are taken into that Asset Class to select the asset that was sold. On selecting the asset, the system automatically takes you into the Asset Movement screen to complete the entry.

If the P/L on Disposal account  relates to multiple Asset Classes, you are taken into the Asset Summary screen to select the Asset Class before you can select the particular asset. But otherwise the process is the same.

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