When migrating your accounting records to Manager, you may need to set up starting balances for your existing intangible assets. The Starting Balance - Intangible Asset - Edit form allows you to enter the acquisition costs and any accumulated amortization for each intangible asset.
To set up the starting balance for an intangible asset, navigate to the Starting Balance - Intangible Asset - Edit form within Manager.
The form includes the following fields:
Select the intangible asset you have previously created under Intangible Assets.
Enter the acquisition cost of the intangible asset.
Enter the accumulated amortization amount for the intangible asset.
By accurately entering this information, you ensure that your intangible assets are correctly reflected in your financial statements from the start of your accounting period.