Create an asset manually—Fixed Assets Management

You can create assets one at a time from the Assets page.

Before you begin

• Create an asset classification

Create an asset manually

1. Go to Fixed Assets Management > All and select Add (circle) next to Assets.

2. Fill out the Overview section.

   Learn more about the fields in this section
   

   1. Enter an Asset name.
      
      Sage Intacct generates the Asset ID automatically after you create the asset. You can set up the naming and sequencing of Asset IDs in Fixed Assets Management configuration.
   2. Set the Status to Active.
      When an asset is Inactive, you cannot change its State or depreciate it.
   3. Optionally, enter a Serial number.
   4. If the asset is a Construction in Progress asset, select CIP asset.
   5. Select an Acquisition date.
      The Acquisition date is the date that your organization purchased or obtained the asset.

   6. Select or deselect Depreciate.
      

      Deselect Depreciate if you are tracking a non-depreciable asset such as land, art, coins, or collectibles.

   7. Adjust the Quantity of assets to include in this record.
   8. Enter the Asset cost.
      The Asset cost is the amount that the asset was purchased for.
   9. Enter the Salvage value.
      The Salvage value is the estimated value of the asset at the end of its useful life. It must be less than the Asset cost.

   10. Specify whether the Asset type is Tangible or Intangible.

   11. Optionally, select a Parent asset to create a hierarchy of assets.
       An asset can only have one parent.

   12. Optionally, enter a Description and Notes about the asset.

   13. Optionally, select an attachment.

       You can select Create from the dropdown and fill out the form to add a new one. For example, you might want to attach warranty manuals, insurance documents, or photos of your fixed assets.
       

   14. Optionally, enter an Asset tag.

3. Fill out the Asset classification section.
   1. Select an active Asset classification.
      The asset classification prefills the GL accounts and depreciation rules for assets of that category. However, you do not need to use the defaults provided. If the asset is non-depreciable, the depreciation rules are not applicable so they are not copied over to the asset.

   2. Optionally, customize the General Ledger accounts for this asset.

      You can use the default GL account provided by the asset classification or select a different account. Selecting a different account does not affect the original classification or other assets in that classification.

4. Optionally, customize the depreciation rules.

   Add a depreciation rule

   1. In the Depreciation rules section, select Add row or Add (circle).

   2. Select a Depreciation method.
      

      Supported depreciation methods
      

      Supported depreciation methods and conventions

      Depreciation method	Full month convention	Half year convention	Full year convention
      Straight line (SL)
      Daily (DR)
      150% declining balance (150DB)
      200% declining balance (200DB)
      Custom declining balance with true-up (CDBT)
      Custom declining balance without true-up (CDB)
      Derogatory (DER)

   3. If you selected a custom declining balance method, enter a Depreciation rate (%) from 1.00 to 100.00.
   4. Select a Journal posting rule.

      The Journal posting rule populates the Useful life units, Convention, Journal ID, and Book ID fields from Fixed Assets Management setup. You can only use each journal posting rule once per classification or asset.

   5. Enter a number for Useful life.

      Review the Useful life units field to determine whether the Useful life is entered in months or years. A useful life of up to 1500 months or 125 years is supported.

   6. If the asset is historical and your company is configured for entering historical accumulated depreciation manually, provide an amount for Historical accumulated depreciation.

      Historical accumulated depreciation is the total depreciation a historical asset accrued before the go-live date. Learn more about historical assets.

   Repeat these steps to add additional rules as needed.

   Edit a depreciation rule

   1. In the Depreciation rules section, find the rule that you want to edit.

   2. Select any field in the row to begin editing.

      • The Depreciation rule ID is not editable.

      • The Journal posting rule populates the Useful life units, Convention, Journal ID, and Book ID fields.

   Delete a depreciation rule

   1. In the Depreciation rules section, find the rule that you want to delete.
   2. Select Remove at the end of the row.
   3. Select Save.
5. Fill out the Dimensions section.
   1. Optionally, select an Allocation to distribute asset-related transactions across multiple dimensions.

   2. Select a Location dimension.

      If the asset has an allocation defined, you can leave the location field blank. It will be automatically copied from the allocation.

   3. Optionally, select other dimensions as required.
      GL accounts can require certain dimensions. Check the configuration of your GL accounts to determine which dimensions are required. If the asset has an allocation defined, only select dimensions that are not already included in the allocation.
6. Optionally, fill out any custom fields in the Custom fields section.
7. Select Save.