These instructions detail completing a construction project and the process of getting the asset into service so it can begin depreciating.
Navigate to the Construction in Progress project by clicking Construction in Progress on the Fixed Assets menu and then click on the project's name.
Click the Complete Construction button.
Once you give the completion a date and click Yes, the entire accumulated cost of the project will be moved out of CIP and into the designated Fixed Asset Clearing Account (Debit Fixed Asset Clearing, Credit CIP).
The asset must now be placed into service following the normal place into service process (Place an Asset into Service).
NOTE: Once the asset is placed in service, you cannot revert it back to a CIP project. You must revalue the asset to add further costs. See the next section on recalling a CIP project if you have not yet placed it in service and wish to add more costs.
