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We purchased a cultivator. Then we purchased a Anhydrous kit that will be mounted to the cultivator. Is it possible to add the Anhydrous kit to an existing capital asset (cultivator) or should it be listed on it's own? If so, where do I find this information?
Hi Rita,
If they have separate purchase dates then it would be best to have them added separately as capital assets so that the purchase dates line up correctly. If they were purchased on the same day then you can combine them by doing the following.
Enter two transactions:
1. Withdrawal for the first amount, offset by an A+ line to Prepaid items (which one is entered this way doesn't matter, either the cultivator or the kit works - we'll pull this amount into the Capital Asset in our 2nd transaction)
2. Withdrawal for the second amount offset by an A- line to Prepaid items for the amount recorded in transaction #1 and then a 2nd line as C+ to add the new Cultivator with mounted anhydrous kit. Essentiallly the withdrawal amount, plus the amount on the A- line should be equal to the amount on your C+ line.