Create supporting accounts for fixed assets

Create supporting accounts for fixed assets

Part 1: Create three new accounts (fixed asset, accumulated depreciation, and depreciation 
expense) in the Chart of Accounts
1. Click the Open icon on the toolbar. The Select Form dialog box opens.
2. Type chart of accounts in the Filter field.
3. Click the Chart of Accounts list item.
4. Click the OK button. The Chart of Accounts (Filter in Place) form opens.
5. Click the Filter in Place icon.
6. Click the New icon.
7. Type 15500 in Account field.
8. Type Avionic Equipment in the description field to the right of the Account field. 
Note: It is not labeled.
9. Click the Account Type drop-down arrow.
10. Click the Asset list item. 
11. Click the Account Class drop-down arrow.
12. Click the Current Assets list item. 
13. Verify Accessible is selected in the Unit Code 1 field.
14. Click the Unit Code 2 drop-down arrow.
15. Click the No Access list item. 
16. Click the Unit Code 3 drop-down arrow.
17. Click the No Access list item. 
18. Click the Unit Code 4 drop-down arrow.
19. Click the No Access list item. 
20. Click the Save icon.
21. Repeat steps 6 – 20 to create two additional accounts using the field values in the table below for 
each item.
Account
Description
Account type
Account class
16500
Accum. Depr - Avionic Equipment
Asset
Current Assets
52510
Depreciation Expense- Avionic Equipment
Expense
Depreciation and Amortization Expense

22. Click the Close (X) button on the Chart of Accounts form.
23. Click the Form drop-down arrow.
24. Click the Sign Out list item. The Sign In window displays.
25. Click the Configuration drop-down arrow.
26. Click the [your configuration]_DEMO_DALS list item.
27. Click the OK button.
Part 2: Set up a new Unit Code 1
1. Click the Open icon. The Select Form dialog box opens.
2. Type unit codes in the Filter field.
3. Click the Unit Codes (1) list item.
4. Click the OK button. The Unit Codes (1) form opens.
5. Click the New icon.
6. Type 800 in Unit Code field.
7. Type Dept. 800 Avionics in the Description field.
8. Click the Save icon.
9. Click the Close (X) button on the Unit Codes (1) form.
Part 3: Copy Unit Codes to Accounts
1. Click the Open icon. The Select Form dialog box opens.
2. Type copy unit in the Filter field.
3. Click the Copy Unit Codes to Accounts list item.
4. Click the OK button. The Copy Unit Codes to Accounts form opens.
5. Click to select the Copy Unit Code1 check box.
6. Click the Starting Copy Unit Code 1 drop-down arrow.
7. Click the 800 list item. The Ending Copy Unit 1 field populates. This will copy the new unit code to 
all accounts.
8. Click the Process button. A dialog box opens with the message: “[Copy Unit Codes To Accounts] 
will be performed.”
9. Click the OK button. A dialog box opens with the message: “XXX Chart Unit Code 1(s) were 
created.”
10. Click the OK button.
11. Click the Close (X) button on the Copy Unit Codes To Accounts form.
Part 4: Set up a new department
1. Click the Open icon. The Select Form dialog box opens.
2. Type departments in the Filter field.
3. Click the Departments list item.
4. Click the OK button. The Departments form opens.
5. Click the New icon.
6. Type 800 in Department field.
7. Type Avionics in the Description field to the right of the Department field. 
Note: It is not labeled.
8. Click the Unit Code 1 drop-down arrow.
9. Click the 800 list item.
10. Type 15 in the Fixed Ovhd Rate field.
11. Press Tab.
12. Type 15 in the Var Ovhd Rate field.
13. Press Tab.
14. Type 53100 in the Direct Labor Applied Acct field.
15. Press Tab.
16. Type 58000 in the Fixed Ovhd Applied Acct field.
17. Press Tab.
18. Type 58100 in the Var Ovhd Applied Acct field.
19. Press Tab.
23 Lesson 1: Introduction to fixed assets
20. Click the Unit Code 1 drop-down list to the right of the Direct Labor Applied Acct field.
21. Click the 800 list item. 
22. Click the Unit Code 1 drop-down list to the right of the Fixed Ovhd Applied Acct field.
23. Click the 800 list item. 
24. Click the Unit Code 1 drop-down list to the right of the Var Ovhd Applied Acct field.
25. Click the 800 list item. 
26. Click the Save icon.
27. Click the Close (X) button on the Departments form

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