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Fixed assets used to produce goods or render services are defined on the Fixed assets form. As fixed assets, such as business premises, machines, office furniture and computers, have a long useful life, the costs are distributed over a number of years using a depreciation method.
The details of a fixed asset are defined in the Fixed assets master data section. The Display panel shows additional details. Use the Acquisition cost feature to journalize the purchase of a fixed asset. Use the Create depreciation entries option to generate depreciation entries.
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