Changing Fixed Account Dollar Amounts

[first134]

We have had our building and land reassessed and the dollar amount has changed. The value of the building and the land show on our Balance Sheet report under Assets-Fixed Assets. I am having trouble finding how to update those dollar amounts. I have tried following the normal protocol to Maintain List of Account Funds to make changes but I am not finding anywhere that lists the current dollar amount that shows on the Balance Sheet report nor how to add/adjust anything on this line item. Help!

[NeilZ]

We have had our building and land reassessed and the dollar amount has changed. The value of the building and the land show on our Balance Sheet report under Assets-Fixed Assets. I am having trouble finding how to update those dollar amounts. I have tried following the normal protocol to Maintain List of Account Funds to make changes but I am not finding anywhere that lists the current dollar amount that shows on the Balance Sheet report nor how to add/adjust anything on this line item. Help!

You should be able to update this using a standard debit & credit transaction.

[first134]

We have had our building and land reassessed and the dollar amount has changed. The value of the building and the land show on our Balance Sheet report under Assets-Fixed Assets. I am having trouble finding how to update those dollar amounts. I have tried following the normal protocol to Maintain List of Account Funds to make changes but I am not finding anywhere that lists the current dollar amount that shows on the Balance Sheet report nor how to add/adjust anything on this line item. Help!

You should be able to update this using a standard debit & credit transaction.

I'm still not sure how to proceed with this. What would a standard debit & credit transaction look like when you are trying to change a fixed asset dollar amount from $7,500 to $168,000? Sorry!!

[NeilZ]

We have had our building and land reassessed and the dollar amount has changed. The value of the building and the land show on our Balance Sheet report under Assets-Fixed Assets. I am having trouble finding how to update those dollar amounts. I have tried following the normal protocol to Maintain List of Account Funds to make changes but I am not finding anywhere that lists the current dollar amount that shows on the Balance Sheet report nor how to add/adjust anything on this line item. Help!

You should be able to update this using a standard debit & credit transaction.

I'm still not sure how to proceed with this. What would a standard debit & credit transaction look like when you are trying to change a fixed asset dollar amount from $7,500 to $168,000? Sorry!!

Land Fixed Asset account : 01-1501-000 DEBIT 160500
Fund Balance Account: 01-3301-000 CREDIT 160500

The account numbers are examples, use the ones in your system. As far as what fund balance account to use, you need to verify that using the CLOSE TO account report.

[first134]

Thank you!! This definitely worked. I appreciate your help and patience.