Adding Books to Assets

When you save a company's FAM parameters, LN prompts you to add the default books to the company's assets. You can assign an existing book as a template book when creating a new book. The template book is the source book from which values will be drawn when the books are added to the assets. The template book you select must always be a required book, and is already assigned to all assets for the company.

If the template book assigned to a default book is of the same book type as the default book, LN performs the following tasks when it adds the books to the assets:

  • Copies the status of the template book to the new book.
  • Copies cost and other dollar values from the template book to the new book.
  • Creates one transaction for each necessary transaction type. For example, if the template book has depreciated, the depreciation value is copied to the new book for all assets created for the company and one depreciation transaction is created in the current period for the new book.

If the template book assigned to a default book is of a different book type than the default book, LN performs the following tasks when it adds the books to the assets:

  • Copies default data from the asset's category to the new book.
  • Sets all dollar values in the new book to zero. For example, cost in the new book will be zero.
  • Copies the status of the asset to the new book. For example, if the status of the asset is Entered, the status of the new book will be Entered.

If the status of an asset is Disposed, or the asset has been removed, the book is not added to the asset.