Fixed Assets Management

Create assets from purchasing transactions

Streamline your data entry process by creating assets directly from purchasing transactions such as PO purchase invoices.

Assets are automatically created at the time of their acquisition. Each line in a transaction can generate 1 asset. Only transactions that post to Accounts Payable can create assets.

Details

• Sage Intacct checks if the items in a transaction are associated with an asset classification. This association is defined in the transaction definition's posting configuration.

• If a match is found, you provide a name for the new asset on that line item.

• When the transaction posts, it creates an AP AP purchase invoice, which then generates an asset. You can review the asset to add additional details.

• The new asset is automatically tagged as a dimension on the transaction, AP purchase invoice, and posted journal entries.

How it works

Turn on the integration

1. Go to Fixed Assets Management > Setup > Configuration.
2. Select Edit.

3. In the Sage Intacct app integrations section, select Create assets from AP purchase invoices.

   The Purchasing integration requires the AP integration to be enabled first.
   

4. Select Create assets from purchasing transactions.

5. Select Save.

6. In your transaction definition, for each Item GL group that you want to use for creating assets, verify that the GL account selected is assigned as an Asset GL account in an asset classification.

Create an asset from a purchasing transaction

1. Go to Purchasing > All > Transactions and select Add (circle) next to your transaction type.

2. Select an item that's associated with an asset classification.

3. In the Name of acquired asset field, provide a name for the new asset on the line item.

4. Optional: Select Include tax in asset cost.

   This field appears if you are subscribed to the Taxes application.

5. Post the transaction.

Requirements

Subscription	Fixed Assets Management Purchasing
Regional availability	All regions
User type	Business user with admin privileges
Permissions	Administration Application subscriptions: Configure Purchasing Purchasing transactions: List, View, Add, Edit, Delete Fixed Assets Management Asset: List, View, Add, Edit, Delete
Configuration	Requires the AP integration to be enabled in Fixed Assets Management configuration.
Restrictions	Assets cannot have required custom fields. Transactions must post to AP to create assets. Reversals, conversions, and recurring transactions are not supported with this integration. Transaction line items for assets cannot be negative or associated with an allocation. After the transaction is created, you cannot edit it. If you need to make a change, delete the transaction and create a new one.