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Explain the Fixed Asset Acquisition Offset Account

Need to pay for a new asset, what account do I use for the AP Invoice?

Applies To

• Fixed Assets > Asset Information > Pop up after Asset has been set up

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This process facilitates the creation of the Asset in PENTA for use much more quickly than waiting for the invoice to be received to create the asset.

Asset Information window is closed after the asset is created:

Debit:   Asset Account in the Asset Class window

Credit:       Fixed Asset Acquisition Offset Account

AP Invoice window is closed after the invoice is entered:

Debit:   Fixed Asset Acquisition Offset Account  (Account Distribution Tab)

Credit:       Accounts Payable