If you have the optional module Purchase orders, and Fixed Assets, you can open the Asset Wizard directly from a purchase order receipt to create asset records and acquisition transactions.



Creating a purchase order for the purchase of a fixed asset consists of two steps:

 

To create a receipt for the line item and use the Asset Wizard to create an asset record for the line item:
 

  1. Open the purchase order from which to create the line item receipt
  2. Select the Receipts tab and click New Receipt
  3. Enter the receipt information
  4. At the bottom of the receipt, click Create Assets
  5. The Asset Wizard screen appears on the General tab. Vendor and acquisition information default from the purchase order.
  6. Enter asset and depreciation information on the General tab.
  7. The number in the Create [ ] Asset(s) with this detailed information defaults from the Quantity field on the line item receipt screen.
  8. To create an acquisition transaction on the Historical Transactions tab, mark Create asset acquisition transaction.
  9. Select the Historical Transactions tab. The transaction date and amount default from the General tab. The Post date field is disabled. You cannot post the acquisition transaction. The asset cost is posted when the invoice created from the receipt is posted.
     
  10. Select the Acquisition Distribution tab. Designate the accounts to debit and credit for the value of the asset.


    Note: To avoid problems with reconciliation, make sure you enter the same distribution accounts as those used on the line item distribution tab.
     
  11. Select the Depreciation Distribution tab to designate the amounts distributed to depreciation expense accounts and depreciation accumulation accounts.
  12. Select the Attributes tab to enter attributes for the asset.
  13. Click Create Assets Now. The program processes the transactions and then a screen appears notifying you if transactions generated successfully. The Historical Transactions control report appears displaying information about the generated transactions. Click X to exit the report.
  14. Click Close to the line item receipt screen
  15. Click OK to save the line item receipt and return to the receipt record.
 

Also review: