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Issue/Symptom/Question

Explain the Fixed Asset Acquisition Offset Account

Applies To

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

Resolution/Fix/Answer

The Acquisition Offset Account is the clearing account PENTA credits for the original value of the Asset. When the AP Invoice comes in (is entered) the same offset account needs to be Debited.  The Account Distribution tab is used to Debit the offset account and the Credit is to the Accounts Payable liability account.  

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.

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