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How to: Set Up an Intangible Assets Account

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The intangible assets accounting feature allows you to post intangible assets to a special account called the Intangible Assets account. Intangible assets are non-monetary assets that cannot be physically measured. You can also include current expenses by using monthly depreciation.

The procedure for posting an intangible asset account is similar to the procedure used to post a fixed asset account.

To set up an intangible asset account

  1. In the Search box, enter Fixed Assets, and then choose the related link.

  2. Select a fixed asset. In the Fixed Asset Card window, select Intangible Asset in the FA Type field.

  3. Purchase and release the intangible asset. For more information, see How to: Purchase and Release Undepreciable Fixed Assets.

  4. Print the Receiving-Transmission Act report. In the Search box, enter Intq. FA Rec.-Tran. Act, to print the unposted version of the report. Or, in the Search box, enter Posted Intg. FA Rec.-Tran. Act to print the posted version of the report.

  5. Print a legal Intangible FA Card HMA-1 report. In the Search box, enter Intangible FA Card HMA-1, and then choose the related link.

  6. Choose the Print button to print the report or choose the Preview button to view it on the screen. Choose the Cancel button to save the information without printing the report.