Hello, I wonder if anyone has set up Intangible assets amortisation in Aurena.
We have a client who is collecting projects costs against an intangible asset, which needs to be a ledger account to enable project capitalisation via posting control GP3.
We need to amortise this intangible asset over sales of the finished product so are considering setting up in Fixed Assets as an acquisition account.
Is there a better way to achieve this?
Kind regards
Glenda
Hello
GP3 capitalized expenses account is rather work in progress than fixed asset - by intention. It is cleared at project completion - and you can use project repost rule to reclassify these expenses to fixed assets.
I think this is ideal process as per design. I do not think you should set up GP3 rule to a fixed asset account directly.
If you want to continue project after asset creation - you can complete project and reopen it, but I am not sure how fixed assets would behave with additional acquisitions in newer IFS versions.
Thank you Adam. That is a very clear and helpful response.
Kind regards
Glenda
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