melissanicho
09/19/2024, 7:35 PMCeligo AI
09/19/2024, 7:35 PMAI generated answer (using internal Slack threads):Based on the conversations, if you receive an invoice late after a fixed asset was placed in service, you can create a journal in the current period reversing the transactions from the expense account to the fixed asset account. This journal can then be used as a source transaction to create an asset. At the proposal stage, you can change the start date of the depreciation to the date when the asset was placed in service. When you depreciate, it will record all depreciation up to date in the current period. If you want to reduce the lifetime of a new asset type that you create so it automatically reduces per month, you can manipulate the depreciation start date. However, be aware that audit may not look favorably at a mismatch between the purchase date and the depreciation date. The assumption is that you purchase an asset to place in service immediately. If you want to have an item cost that will become a fixed asset sit in a Work in Progress (WIP) account until the asset goes into service, you can transfer the inventory cost to the WIP account. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******
Celigo AI
09/19/2024, 7:35 PMSlack thread 1: here (available only if the original thread was posted in the last 90 days)
Similarity score: 0.805231452
Slack thread 2: here (available only if the original thread was posted in the last 90 days)
Similarity score: 0.801105201
Slack thread 3: here (available only if the original thread was posted in the last 90 days)
Similarity score: 0.80041033
Celigo AI
09/19/2024, 7:35 PM