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Recording Purchase of Asset
Recording Purchase of Asset
Emma avatar
Written by Emma
Updated over a week ago

Hello everyone. Welcome to today's session. Today, we'll be looking at recording assets in Built from the dashboard or the Built menu and locate expenses.

Click on "paid expense." Click on “+expense”, and indicate the amount of the particular asset you're purchasing. Let's say GHS 2000. E.g if you purchased a computer,

You would have to select the expense account, computer, and accessories. If it was office equipment, you would've selected office equipment.

If it was furniture, you would've selected furniture, fittings, and fixtures.

Indicate the payments account and then you describe it as “maybe an HP laptop”

When you are done, you save and then close.

You can also use the bills feature to record this purchase by clicking on “+ bill” and selecting a particular supplier.

From here, I'm just going to assume Abass is my supplier.

Add the item. You can type HP or, let's say, a Dell laptop, and then select the computer and accessories account here; the amounts e.g GHS 5,000.00

Save the bill.

Here, you have to add payments if you made a payment. Click on "add payment" and then "record payment."

If you were withholding, you would've just clicked on add withholding tax to withhold on it. Let's say you are withholding GHS 200 from this.

Then you would add payments of the remaining GHS 4,800 and indicate the payment account.

Give a description, and you are good to go.

So these are the ways you can record assets in Built. Thank you very much. Have a nice day.

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