The following General Ledger entries result when a new Object is added.  NOTE, the A/P invoice entry and C/D Check Run happen earlier in the process.   The Fixed Asset add process starts at the Object Add below. All of the accounting for the cost basis to move it out of the clearing account to the final asset account and resulting depreciation entries are automatically created in the background.

If there is a gain or loss on the disposal of an asset. The one place in the asset system in which you need to manually create a journal entry is related to a disposal. The first part of the entry is automatic.  The manual entry is needed only for a gain or loss.

When moving an Asset to a new department or branch, all of the accounting for the cost basis and depreciation is automatically created in the background.

When splitting an Asset, all of the accounting for the cost basis and depreciation is automatically created in the background.