Learn the foundations of fixed asset accounting, including definitions, formulas, and applications. I've only allocated GST to purchase price and deposit.It is a turnover tax levied on the supply of goods and services when performed in a business environment, as well as on the importation of goods and services. Learn about purchases of fixed assets, including stepbystep processes for validating tax detials and financial entries. Our firm's experienced business lawyers in San Jose, CA, can provide the guidance and support necessary to facilitate a successful asset sale. The way to handle a fixed asset purchase is to first create the asset as per the Guide at Manager Cloud. This has no effect on financials. Search and apply to our open Grant Accountant jobs. Our full-time, freelance and temporary Grant Accountant roles are updated daily.