Add Fixed Assets

This guidance is only for IRIS Financials Version 7.0.2223 or later. If using version 7.0.2103 or earlier, go to Adding a New Fixed Asset .

Organisations with more than one entity, must add fixed assets to the fixed asset ledger for the relevant entity.

1. To add a fixed asset, create an account on the fixed asset ledger for the relevant entity, with the following details: 

   • On Indices, select the Values for the relevant Indices. If you do not want to use indices for reporting, select XNODET from Values.

   • On Analysis Fields, complete the required options.

   • Set the required security for user groups with access.

2. After adding a fixed asset, you must enter an opening balance for the asset.