Intangible Assets
Starting Balances
Intangible Assets Starting Balances
When migrating to Manager from a prior accounting system, intangible assets must be carried forward at their book values from the previous system. This is accomplished in Manager in two steps:
- Create the intangible asset.
- Enter starting balance for cost
These steps can be accomplished separately, or they can be combined into a single operation as the asset is being created. There is no difference in the final results. I prefer entering starting balances for all accounts at one time. That's just my personal preference.
Before you can enter any transaction related to an intangible asset, the intangible asset itself must be created in Manager. If the Intangible Assets tab has not already been enabled, and the intangible asset(s) have not been entered follow the instructions for creating intangibleixed assets.
When migrating intangible assets:
Go to the Intangible Assets tab
- Click Edit for the asset you are migrating
- Enter Acquisition cost in the Starting balance field
Note: Starting Balance for Accumulated Amortization is entered using the Amortization Tab
These amounts should be the closing balances for equivalent figures from your old accounting system.
Note
When migrating many intangible assets, consider using batch operations to accomplish the steps described above.