Asset Reconciliation Setup

Note: see previous section on Account Group setup. Asset Reconciliation accounts use the account type of Assets. Select Assets Reconciliation in the Account Type field. Creating a reconciliation account

Both the asset account and the accumulated depreciation account use this account type. Account Groups are defined with Account Group and Sub Account Groups. This allows the grouping of assets and accumulated depreciation on the View Account For Group button. Clicking the View Account For Group button opens the Account Group By Period form. The Account Group By Period form shows the balances, additions, adjustments, transfers, disposals, calculated ending balances, ledger amounts, and out of balance amounts. Each Account Group and Sub Account Group are displayed together with subtotaling on each sub account group. There is a total for all sub account groups at the bottom of the form. There are also tabs for Year To Date and Period Year To Date.