Enhanced interface

Create assets from purchasing transactions—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.

Here's how it works:

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

Before you begin

Create asset classifications.
Set up the Purchasing integration in Fixed Assets Management configuration.

Create assets from a purchasing transaction line

Subscription	Fixed Assets Management Purchasing Accounts Payable
Regional availability	All regions
User type	Business
Permissions	Purchasing Purchasing transactions: List, View, Add, Edit, Delete Fixed Assets Management Asset: List, View, Add, Edit, Delete

Go to Purchasing > All > Transactions and select Add (circle) next to your transaction type.
Enter the header fields.

For more information about the header fields, see the Field descriptions in Transactions.
Enter line items.
1. Select an Item ID.
  
  The item must be associated with an Asset or CIP GL account. To be associated with an Asset or CIP GL account, in the transaction definition's posting configuration, the item GL group's GL account must match an Asset or CIP GL account in an asset classification.
2. Enter a Quantity.
  
  This value is unrelated to the number of assets that you create and also does not carry over to the quantity field on the new asset. After the asset is created, you can update the quantity field on the asset itself.
3. Enter the Price.
  
  The amount must be positive.
4. Select Show details to reveal more fields for the line.
5. Find the Fixed Assets Management section.
6. For Asset action, choose from the following options:
  - Create fixed asset: Creates a single fixed asset. This option appears when you select an item associated with an Asset GL account.
  - Create multiple fixed assets: Create more than one fixed asset. This option appears when you select an item associated with an Asset GL account.
  - Create CIP asset: Creates a single Construction in Progress (CIP) asset. This option appears when you select an item associated with a CIP GL account.
7. If you selected Create multiple fixed assets, enter a number from 2 to 20 in the Number of assets field.
8. Select an Asset classification for the new asset or assets.
  
  Only asset classifications associated with the item's Asset GL account appear in this dropdown.
9. For Name of acquired asset, enter a name for the new asset or assets.
  
  You can change the names later.
10. Optionally, if you're subscribed to the Taxes application and have VAT enabled, you can Include tax in asset cost.
  When selected, the asset cost will be 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.
11. In the Dimensions section, select a Location.
12. Leave the Asset dimension field blank.
  
  If you're creating a single asset, it will populate automatically after the asset is created. For multiple assets, the asset dimension field on the transaction remains empty.
Select Post or Submit.

Assets are generated automatically in Fixed Assets Management. If you use approvals, the asset will be created after the transaction is approved.

Next steps: Edit the asset to add additional details.