Hi.
I currently have an Asset Account "1710-0001 (Calgary) -Plant Equipment". We have now decided that we'd like to track the different pieces of equipment in Sage, rather than on a spreadsheet.
I just want to confirm, I should be able to make Sub Accounts under "1710-0001 (Calgary) -Plant Equipment" and give each piece of equipment its own sub account - correct? Then I would move the appropriate amounts out of my my current 1710-0001 Plant Equipment account into the appropriate sub accounts. Then I'd have to make a SubTotal Account called Plant Equipment to total up all the sub accounts.
Have I got this correct?
Any advice is appreciated. Thank you.
Jacqui