A pending asset can be generated when explaining a transaction from a bank statement/Money Out transaction.
1a. If you import statements, head to the Money > Bank Accounts menu and select the Explain beside the appropriate bank statement under the imported statements that need explaining.
1b. If you do not import statements, head to the Money > Bank Accounts menu and click on the Money out link, under the Manage money column beside the appropriate bank account.
Fill in the details of the Money out form and once complete select the Explain money out button.
Ensure that the transaction details i.e. Supplier, Description, VAT rat etc, has been set correctly ensuring that a fixed asset account has been selected (listed under the non current assets heading). You can create your own custom fixed asset accounts as long as the fixed assets account type is used.
Hit the Add new transaction button when complete.
Now the transaction has been explained you will now have the ability to view that corresponding bill that has been created to match the payment information. Click the magnifying glass alongside the explained transation.
Select the Generate Pending assets button will create a pending fixed asset.
The pending assets will be listed on both the Fixed assets link and Pending link with (Pending) after their name. Click on the edit icon under the Options column for the appropriate asset.
Fill out the details of the form appropriately.
For the Reducing balance method of depreciation enter both the Depreciation rate and Economic Life.
For the Straight line method of depreciation enter the Depreciation rate and the system will automatically populate the Economic Life.
You can select from the default accounts for both the Depreciation account and Accumulated depreciation account. You can create custom accounts for these on the Settings > Accounting > Account codes menu.
Click on the Approve button to complete.
For additional help, click here to view all our training options.
Technical support is available on Monday to Friday from 9 - 5. You can call us on 0203 475 4744 or email us at firstname.lastname@example.org.
Alternatively, visit our Community to view our latest news & updates, raise new ideas, find answers to common problems, ask new queries and speak to other Clear Books users and employees.