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    muyiwa coker's Avatar
    muyiwa coker Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 20, 2008, 03:55 AM
    Fixed Asset
    How do you record in the current year a fixed asset figure not posted in the previous year?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Dec 12, 2008, 08:07 PM

    The entry to record your asset is:

    Debit your Asset account
    Credit the appropreate payable account and or cash if cash was paid.
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