[SL] GAAP and fixed asset

[Vincenzo P. <epu...@it...>]

Good morning,

My name is Enzo Puliatti. I am the Chairman of IT Synergy ( www.itsyn.com ). We have an ongoing project aimed to spread the usage of SQL-Ledger for SMEs in Egypt and we are working on many localization and customization issues. However, we have recently faced a bureaucratic
issue and we are trying to find out if there is any experience on GAAP certification for SQL-Ledger or at least a clear "how-to do". Have you done anything in this sense in your  country or are you aware of any successful or ongoing effort in this senses?

I do understand that this may be different from country to country but we would like to start from some established experience. If nobody has collected these procedure we are most willing to collect all information and share it with all you. 

For those of you that (like me) are not to familiar with accounting procedures and rules, the  idea is to be able to completely replace manual bookkeeping (or "hybrid") with a fully computerized one using SQL-Ledger. I personally don't like the idea of using SL in my company and then having the accountant manually copying the information in a different format to present it to the relevant authorities.

A second issue is related to management of fixed assets. I have seen several scattered posting about this issue without a clearly defined procedures. This topic is also not mentioned in the manual and other documentation that I have found online.

The basic question is: how to treat the purchasing, inventorying and depreciation of fixed assets and other consumable that are meant to be used for the company itself and not for resale?

Thanks and regards,
Enzo Puliatti

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Vincenzo Puliatti
Chairman,IT Synergy
Cairo Smart Village, Egypt
+20 2 5371020
www.itsyn.com