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Issue 1: I have a tangible fixed asset (Building), Its value is "X". I created an credit entry in Building's category; Where do I have to create a Debit entry for the same to post it into Balance Sheet. If I create Debit entry in any other accounts, it will not balance Profit Loss amount. Since I am very new to accounting, I am missing some key steps. Please guide me on this.
Issue 2: I have created fixed asset entry for Jan period (Fiscal yr Jan to Dec); When I see Balance sheet of March period, I am not able to see the fixed asset's amount I made for Jan period. I am expecting it to reflect in march month's balance sheet since it is a fixed asset and not depreciated 100%. I am not sure how to configure this. Help me on this too.
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|Asked: 1/2/15, 8:30 AM|
|Seen: 692 times|
|Last updated: 3/16/15, 8:10 AM|