Two Ways to Enter Assets in ABRA Flexi
When recording assets in accounting software, there are two basic approaches available:
Entering assets from the beginning of their existence in the organization
This approach involves the complete recording of all assets from the moment they were acquired. The disadvantage is that it often requires entering a large amount of data for previous accounting periods. In addition to the initial entry, all related events must also be recorded — for example, capital improvements to assets — and the accuracy of records must be thoroughly verified. Excel imports can be used for this purpose.Entering assets as of the first accounting period in which the software is fully used
This method is simpler and less time-consuming. Assets are recorded only for the current accounting period, which significantly simplifies the work and minimizes the risk of errors.
The choice of the appropriate approach depends on the organization's needs and on whether a detailed asset history is required in the system, or whether the current state is sufficient.