Field descriptions: Assets—Fixed Assets Management

The unique identifier of the asset.

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.

Enter a name for the asset.

The Asset name appears alongside the Asset ID in lists across your company.

The default status is Active. If you’re no longer using an asset and want to remove it from lists, set it to Inactive. When an asset is Inactive, you cannot change its State or depreciate it. Learn more about deactivating an asset.

Optionally enter the product serial number of the asset. This field allows up to 100 characters.

Select to identify the asset as a Construction in Progress asset. The asset’s state changes to Construction in Progress, and the CIP GL account field becomes available.

The field remains selected after the asset leaves the Construction in Progress state so you can report on assets that were CIP assets.

This field is available only when CIP is enabled in Fixed Assets Management Configuration.

Indicates the current state of the asset within its lifecycle:

• Construction in progress: The asset is under construction and not yet ready to be placed in service. Costs can be added to the asset, but it does not depreciate.

• Ready for review: The asset exists in Sage Intacct, but it is not yet depreciating. Review all the asset details before placing the asset in service.

• In service: The asset is in use and depreciates according to its depreciation schedules.
• Disposed: The asset was removed from service, typically due to a sale.

You can change the state of an asset on the asset details page.

The following state transitions are not allowed:

• Ready for review to Disposed

• Disposed to Ready for review

The Acquisition date is the date that your organization purchased or obtained the asset.

After the asset is created and in the Ready for review state, you can change the day or month of the Acquisition date, but not the year.

The in-service date is the date when the asset is available for use by your business. This date, along with the Convention, determines when the asset starts to depreciate. The In-service date must be on or after the acquisition date and the most recent transfer date, if any.

Select Depreciate if the asset's cost will be allocated over time. Depreciation schedules are generated when the asset is placed in service.

Deselect Depreciate if you are tracking a non-depreciable asset such as land, art, coins, or collectibles. The Depreciation Rules section is hidden and no depreciation schedules will be generated.

Enter the number of assets to include in this record.

The Asset cost is the amount that the asset was purchased for. It must be a positive number.

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.

The type of asset, which can be tangible or intangible.

Tangible assets have physical substance, such as equipment or land. Intangible assets do not have physical substance, such as patents or copyrights.

Select the Asset ID of another active asset to link it as the parent.

By linking parent assets, you can create a hierarchy of assets. An asset can only have one parent. Also, an asset cannot reference itself as the parent.

Optionally enter a description of the asset such as brand, size, or other characteristics. This field allows up to 2,000 characters.

If you use the AP or Purchasing integrations to create the asset, this field automatically populates with the memo from the source transaction line.

Select an attachment. Or, select Create from the dropdown and fill out the form to add a new one.

An attachment is a group of one or more supporting documents. You can attach any type of file, including scanned images, spreadsheets, or word-processor documents. For example, you might want to attach warranty manuals, insurance documents, or photos of your fixed assets.

Requires the List and View permissions for Attachments in the Company subscription.

You can also add attachments from the Attachments list in Company. Learn more about who can add attachments.

If you use physical asset tag labels to track the inventory of your assets, enter the ID of the asset tag here. This field allows up to 100 characters.

The transaction that created the asset and the ID of that transaction, if any.

For example, if the asset was created from an AP supplier invoice, then this field shows "AP supplier invoice: B-1002", where B-1002 is the AP supplier invoice number. If there's no AP supplier invoice number, then it only shows the source type, "AP supplier invoice".

Selecting the value opens the associated transaction in a popup. If the transaction ID changes, the new value propagates to this field.

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.

You do not have to use the values provided by the classification. You can customize the GL accounts and depreciation rules per asset after saving the asset.

This field is required for assets that are In service.

The CIP GL account must meet the following requirements:

• Not a statistical account

• Not linked to a bank account or credit card

• Has an active status

This field is available only when CIP is enabled in Fixed Assets Management Configuration.

The General Ledger account where transactions involving asset cost and disposal are recorded as debits and credits. For example, Buildings, Computer Equipment, or Vehicles accounts.

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.

The Asset GL account must meet the following requirements:

• Not the same as the Accumulated depreciation or Depreciation expense GL accounts

• Not a statistical account

• Not linked to a bank account or credit card

• Has an active status

This field is required for assets that are In service.

The General Ledger account where depreciation transactions are recorded as credits. It offsets the Depreciation expense GL account.

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.

The Accumulated depreciation GL account must meet the following requirements:

• Not the same as the Asset or Depreciation expense GL accounts

• Not a statistical account

• Not linked to a bank account or credit card

• Has an active status

This field is required for assets that are In service. If the asset is not depreciable, this field must be left blank.

The General Ledger account where depreciation transactions are recorded as debits.

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.

The Depreciation expense GL account must meet the following requirements:

• Not the same as the Asset or Depreciation expense GL accounts

• Not a statistical account

• Not linked to a bank account or credit card

• Has an active status

This field is required for assets that are In service. If the asset is not depreciable, this field must be left blank.

The General Ledger account where the Sales price is recorded as a debit during asset disposal. Typically, it is a depreciation expense account, a gain and loss account, or some other special disposal account.

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.

The General Ledger account used to record derogatory depreciation provisions. This account is credited for the positive difference between declining (fiscal) depreciation and daily (accounting) depreciation. It represents the temporary fiscal advantage recognized for tax purposes while maintaining accounting consistency.

The General Ledger account used to track the cumulative balance of derogatory depreciation provisions. This account represents a regulated provision that is progressively reversed as the difference between fiscal and accounting depreciation decreases over time.

The General Ledger account used to record reversals of derogatory depreciation provisions. Reversals occur when daily (accounting) depreciation exceeds declining (fiscal) depreciation, typically toward the end of the asset’s useful life. These entries progressively reduce the accumulated derogatory provision.

The unique identifier of the depreciation rule. Sage Intacct generates the ID automatically after you save the rule. It is not editable.

The calculation for how an asset's depreciation expense is computed into periods over its useful life.

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)

Learn more about depreciation methods.

This field is only applicable to the following depreciation methods:

• Custom declining balance with true-up (CDBT)

• Custom declining balance without true-up (CDB)

It defines the percentage used to calculate how quickly assets depreciate. Valid values are from 1.00 to 100.00.

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.

Journal posting rules determine which journals the Fixed Assets Management application can post to and how. Each rule contains details about the journal, convention, useful life units, and more. Journal posting rules are used to automatically populate valid information for depreciation rules, saving you time.

The Useful life is an estimate of the expected service life of an asset.

Enter a number for Useful life in months or years. 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.

For the Derogatory depreciation method (France), the useful life cannot be less than 36 months.

The units of useful life of the asset. Sage Intacct supports months or years.

This field is read-only. The Journal posting rule that you select populates this field.

A multiplier applied to the daily rate to determine the accelerated declining (fiscal) depreciation allowed under French tax rules. The value is set by law based on the asset’s useful life:

• 1.25 for assets with a useful life of 3 to 4 years

• 1.75 for assets with a useful life of 5 to 6 years

• 2.25 for assets with a useful life of more than 6 years

The convention determines how depreciation is calculated in the first and last periods of an asset's life.

This field is read-only. The Journal posting rule that you select populates this field.

Supported conventions:

• Full month: Assets start to depreciate on the first day of the month that they are placed in service, regardless of the exact in-service date. This does not affect assets that are under the Daily depreciation method, which start to depreciate on the exact in-service date.

• Half year: Assets depreciate for half a period in the first year they are placed in service, regardless of the exact in-service date. The remaining depreciation is applied in an extra period at the end of the asset's life.

• Full year: Assets start to depreciate on the first day of the year that they are placed in service, regardless of the exact in-service date.

The journal where fixed asset transactions are recorded.

This field is read-only. The Journal posting rule that you select populates this field.

The book associated with the journal.

This field is read-only. The Journal posting rule that you select populates this field.

Historical accumulated depreciation is the total depreciation a historical asset accrued before the go-live date. Enter the amount recorded in your previous accounting system. It must be less than or equal to the asset's depreciable cost and greater than or equal to zero.

Historical assets are assets that were already in use and started to depreciate before your company started using Fixed Assets Management.

Learn more about historical assets.

The date the asset, or a portion of it, is removed from business operations. This date is also used as the General Ledger posting date for the disposal journal entry.

The amount of the asset that's being disposed of. The amount must be greater than zero and less than the remaining depreciation. If the asset has multiple depreciation schedules, it must be less than the minimum remaining depreciation.

The reason for disposal of the asset. The options are:

• Sale: You receive a payment in exchange for the asset or portion of the asset.

• Casualty loss: The asset or a portion of the asset is destroyed or damaged due to an unforeseen event or accident. No payment is received.

• Theft: The asset or portion of the asset is stolen. No payment is received.

• Other: The asset is disposed of for any other reason. For example, it might still be in your possession, but it has reached the end of its useful life or has no resale value. No payment is received.

The amount the asset or portion of the asset was sold for. If the Disposal type is Casualty loss, Theft, or Other, then the Sales price is considered zero.

The difference between the asset's book value and the sales price. For a partial disposal, the difference between the disposed portion's book value and the sales price.

Notes about the disposal of the asset. For example, you can note who you sold the asset to, provide context, or include reference numbers.

Optionally select an allocation to assign to the asset.

Allocations allow you to distribute asset-related transactions across multiple dimensions. For example, you can automatically allocate 50% of a depreciation expense to the Marketing department and the remaining 50% to the Human Resources department.

The allocation field appears on all assets, but it is not supported for companies subscribed to Taxes. To use allocations, first enable and define them in your company.

You can assign additional dimensions on the asset as long as they are not already defined in the allocation. If you edit an allocation, only transactions moving forward will use the updated values.

If you select an allocation, you can leave the Location field blank. It will be automatically copied from the allocation after you save. You can still add other dimensions to the asset that are not already defined in the allocation.

Learn how to set up allocations for assets.

Learn more about applying an allocation to an asset.

• Affiliate entity

• Class

• Contract

• Cost type

• Customer

• Department

• Employee

• Item

• Location

• Project

• Task

• Supplier

• Warehouse

To associate this asset with a project, department, or any other dimension, select the respective dimension value.

The location dimension is required, unless you specified an allocation. Other dimensions might be required depending on the configuration of your GL accounts.

If your company created any custom fields using Platform Services or Customization Services, they appear in this section.

The asset’s cost before the AP adjustment was posted.

The amount by which the asset’s cost increased or decreased.

This is the Amount field on the adjustment line, or the Base amount for multi-currency companies.

The line number in the adjustment that adjusted the asset.

The supplier associated with the AP adjustment.

The journal entry created when the asset is capitalized. This entry transfers the total asset cost from the CIP GL account to the Asset GL account. Select the journal entry number to view its details.

The unique identifier of the schedule. Sage Intacct generates the ID automatically.

Select the ID to view the schedule.

The Asset cost is the amount that the asset was purchased for.

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.

The total amount of depreciation that the asset accrued in a different accounting system, outside of Sage Intacct. It is calculated by summing the depreciation amounts for entries in the Historically posted state.

This field only applies to historical assets, meaning the asset started depreciating before the Go-live date. The Go-live date is defined in Fixed Assets Management configuration.

The total amount of depreciation that the asset has accrued up to the present period. It is calculated by summing the depreciation amounts for entries in the Posted and Historically posted states.

The depreciation expense amount yet to be recognized in the accounting records for an asset from the current period until the end of its useful life. It is the sum of the depreciation schedule entries that have not been posted yet. This concept is also known as the net book value.

This field is only applicable to the following depreciation methods:

• Custom declining balance with true-up (CDBT)

• Custom declining balance without true-up (CDB)

It defines the percentage used to calculate how quickly assets depreciate. Valid values are from 1.00 to 100.00.

The difference between the asset's book value and the sales price.

This field only displays when the asset is fully disposed of.

The unique identifier of the associated depreciation rule.

This field only displays when the asset is fully disposed of.

The ID of the journal entry that is automatically generated in the General Ledger when the asset is disposed of. Selecting the link opens more information about the journal entry.

This field only displays when the asset is fully disposed of.

The date the asset was transferred. This is also the posting date of transfer journal entries.