To set up asset transactionsTransactions are actions you can perform on an asset or asset book to record data about different stages in the asset's life. Transactions are a record of the processing an asset undergoes after you enter it into LN. The transactions you can perform on an asset are:
The transactions you can perform at the asset-book level are:
For Example, after you enter an asset, you capitalize it to record that it is in use and to make it eligible for depreciation. You then depreciate the asset on a regular basis until it is time to remove it from service. When you remove the asset from service, you dispose of it. There are several types of transactions you can record on the asset. They are as follows:
There are several types of transactions you can record on the asset book. They are as follows:
When you enter a transaction, LN records information about the transaction on the asset and/or asset book. It also saves a record of the original values. This allows you to track the changes that have been made throughout an asset's life. In addition to these transactions, there are other tasks you can perform on an asset. You may need to record the business mileage on an automobile asset or record the units used on an asset whose life is tracked in units instead of in months and years. You can also record mass transactions to make changes to a large number of assets at once. For more information, see the topic Using Mass Transactions. You can also perform certain transactions on a vintage or on a MACRS group account to make transactions on all the assets the account contains. For more information, see the Using Vintage/Group Account Transactions topic.
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