My compony have many buildings, I have created a fixed asset as buildings. but I am un able to enter the total values of my buildings. ($ 50000) its the worth iterms of money for my buildings. where can I enter this value so that it reflects in fixed asset account??
Read the Guide: https://www.manager.io/guides/9106. Properly, you should create a fixed asset for every building, not group them together as a single fixed asset.
Are you trying to enter the purchase value/construction value of the building or are you talking about the starting values taken from another accounting system?
I have read the guide, but when a building is a fixed asset and want to convert it to money to be visible in fixed asset, there is an option to deduct money from cash account or bank account and post the money to fixed asset account. my account year earning is $25000, when I enter a building that worth $50000 there is a negative value within bank account while in reality I should have $25000 in bank and $50000 in fixed asset
Sorry, but is not all clear what you ae trying to do
When you say you have a building worth 50,000 where did that come from?
Are you starting a business from day 1? if so, where did they business get the building from? did you invest 50,000 in the business?
I have get you @Joe91 but the buildings were built by catholic donors. we just received the already made building that worth $50000. the source of money was not my accounts its just a buildings that we received
You still need to account for the income received in the form of a contribution in kind. You cannot have a fixed asset appear by magic in your accounts. The value of the building was the income. You should consult a qualified accountant in your country to learn how to properly account for this. Whatever is the correct procedure under local regulations, Manager can handle it.
thanks @Tut I have get you