How to record an asset that has not been previously tracked in your accounting system.
To record an asset which has not been previously tracked, there are two steps:
- Add the asset to your Chart of Accounts.
- Use a Journal Entry to debit the asset and to credit another account. This may be an income account or a net asset account. You will need to *consult with an accountant or your diocese to determine the correct account(s) to use.
*Support provides training and assistance on how to get optimal use of your ParishSOFT product. Software Support representatives are not authorized to give accounting advice such as which accounts to use.