# Fixed Asset GL Setup
# Fixed Asset Setup
General ledger Fixed asset setup
Setup the Fixed Asset Tab of the Fixed Asset cost account
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Create the fixed asset inventory item
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Check that the tick is on for Allow to TrackIT
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Check minimum balance for transactions is setup
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Check that Fixed Asset automatic schedule journal is active
This is to ensure that the Fixed Asset Journal is run each night
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Setup TrackIT group codes in order to group fixed assets together on one journal
Similar type fixed assets
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# Fixed Asset Incoming
In order to bring in a Fixed Asset, use the GRV document to do this
Create a GRV / Purchase Invoice to bring in the Fixed Asset.
If you are bringing in a fixed asset that is for an opening balance.
Suggestion is to make the VAT / GST as zero because the Tax has already been taken into account.
For take on, take the date back to the date that you want the fixed asset to run.
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Create the Serial number for the item
Enter the Brought into use date and residual value
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GRV ledger entries are updated with the fixed asset cost
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TrackIT item created
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TrackIT Fixed Asset information updated
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