About the Purchasing integration for Fixed Assets Management

Create assets directly from purchasing transactions such as PO purchase invoices to save time and reduce errors. Each transaction line can generate up to 20 assets.

How it works

  • Sage Intacct checks each transaction line to see if the item is associated with an asset classification. To be associated with an asset classification, in the transaction definition's posting configuration, the item GL group's GL account must match an Asset GL account in an asset classification.

  • If there's a match, you specify the number of assets to create and provide a name for them on that line.

  • When the transaction posts, it creates an AP supplier invoice, which generates the assets in the Ready for review state. You can then review the assets and add details.

  • Each asset includes a link back to the originating AP supplier invoice in the Source field.

  • If you create a single asset, it's automatically tagged as a dimension on the transaction line, AP supplier invoice line, and posted journal entry.

Restrictions

  • Only transactions that post to Accounts Payable can create assets.

  • Reversals, conversions, and recurring transactions are not supported.

  • Transaction line items cannot be negative or associated with a custom allocation.

  • After the asset is created, only certain fields can be edited. Learn more about editing purchasing transactions that created assets.

What information is included in the generated asset?

Some fields on the new assets are populated from the source transaction and AP supplier invoice, while others use default values. You can edit the default values and add additional details to the asset in the Fixed Assets Management application.

Field values for assets created from purchasing transactions
Asset field Source of value Notes
Asset name

Purchasing transaction line: Name of acquired asset field.

Changing the asset's name after the asset is created does not update the name on the purchasing transaction line.
Status Default value: Active.  
State Default value: Ready for review.  
Acquisition date Purchasing transaction: Date field.  
Depreciate Default value: True.  
Quantity Default value: 1.  
Asset cost

Purchasing transaction line: Extended price field.

  • When you create multiple assets, the total line amount is divided evenly across the assets. Rounding might occur to ensure the combined asset values match the line amount. For example, if the line is $1000.00 and you create 3 assets, 2 assets will be $333.33 and 1 asset will be $333.34.

  • When you select Include tax in asset cost on the transaction line, the asset cost is the sum of the Extended price and Tax fields.

  • Canadian entities only: If both ITC and Include tax in asset cost are selected on the line, the asset cost includes only the non-recoverable portion of tax. For example, say that the base amount is $50,000, the base tax amount is $6,000, and the base tax recoverable amount is $3,245. The non-recoverable portion of tax ($2,755) is added to the base amount ($50,000), resulting in an asset cost of $52,755. If ITC is selected but Include tax in asset cost is not, the asset cost is equal to the base amount ($50,000) and tax is excluded.
Salvage value Default value: 0.  
Asset type Default value: Tangible.  
Description Purchasing transaction line: Memo field.  
Allocation Purchasing transaction line: Allocation field.  
Source

AP supplier invoice: AP supplier invoice number, if any.

  • On the purchasing transaction, this is the Supplier document number.

  • If there's no AP supplier invoice number, this field only shows "AP supplier invoice".

  • Changing the AP supplier invoice number after the asset is created automatically updates the asset's source number.
Source line no.

AP supplier invoice: Entry line number.

Changing the AP supplier invoice line number after the asset is created automatically updates the asset's source line number.
Asset classification The asset classification that's associated with the Asset GL account.  
Asset GL account Purchasing transaction: The item's GL group GL account, as defined in the transaction definition's posting configuration. It’s also the Account field on the AP supplier invoice.  
Other GL accounts From the asset classification.  
Depreciation rules From the asset classification.  
Dimensions

Purchasing transaction line: Dimension fields.

  
Custom fields

If the ID and data type of a custom field on the Asset, Purchase order transaction detail, and AP AP supplier invoice detail match, then the value of that custom field is copied over to the asset.

Changing a custom field on the purchasing transaction or AP supplier invoice after the asset is created does not update the asset's value.