Community Forum Portal/Portail du forum communautaire
Capital Asset Question: We bought a sprayer and added it in April as a Capital Asset. We then purchased crop dividers to install on the sprayer. Our accoutant requires anything over $500 to be listed as a Capital Asset. However, I want to add the $6 K crop dividers to the sprayer not have them as a separate asset. Is there any way to do this?
Good afternoon Sharlette!
Unfortunately, since the dividers are a separate purchase, they will be listed as their own capital asset.
There is a work around if the items were all purchased in the same fiscal year, though you may need to go back and edit your original capital asset purchase from back in April. We lay out the process in the following Knowledge Base article:
http://community.fccsoftwar...
The summary is that you list both purchases as Asset purchases, rather than Capital Asset purchases. You can then take the number in the Asset account and roll it into a single capital asset item.
Feel free to give us a call if you need a more detailed explanation of this process. Thank you very much!