Place an asset in service—Fixed Assets Management

After you add and review asset details, place the asset in service to begin the depreciation process. Sage Intacct automatically generates depreciation schedules for depreciable assets.

To place multiple assets in service at once, see Place assets in service in bulk.
Subscription Fixed Assets Management
Regional availability

All regions

User type Business
Permissions

Fixed Assets Management

  • Asset: List, View, Edit
  1. Go to Fixed Assets Management > All > Assets.

  2. Find the asset that you want to place in service.

    The asset must be active and in the Ready for review state.

  3. Select the asset's name to view it.

  4. Review all asset details, including the depreciation rules, for accuracy and completion.
    If any information is missing or incomplete, edit the asset now to fix it.

    The following fields were required to create the asset:

    • Asset name

    • Status

    • Depreciate

    • Quantity

    • Asset cost

    • Salvage value

    • Acquisition date

    • Location

    Additionally, the following fields are required to place the asset in service:

    • Asset classification

    • Asset GL account

    • Accumulated depreciation GL account (depreciable assets only)

    • Depreciation expense GL account (depreciable assets only)

    • Depreciation rules (minimum 1 rule for depreciable assets only)

    After you place the asset in service, only some fields remain editable. Learn more about which fields are editable by asset state.

  5. When you are done reviewing, select Place in service at the top right of the page.
  6. Select an In-service date.
    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.

  7. Select Save.

The state of the asset changes to In service. If the asset is depreciable, Sage Intacct automatically generates depreciation schedules for the asset. One depreciation schedule is created per depreciation rule on the asset. Visit the Depreciation Schedules tab on an asset to view the schedules. From there, you can drill down to explore the entries for each period of an asset’s useful life.

If you accidentally place an asset in service, you can place the asset back in review.