Set up the Purchasing integration for Fixed Assets Management

Turn on Create assets from purchasing transactions to allow users to generate assets automatically from Purchasing transactions such as PO purchase invoices. Each line in a transaction can generate up to 20 assets. This setting can be turned off at any time. To turn on this setting, turn on Create assets from AP supplier invoices first.

Set up Purchasing integration for Fixed Assets Management (10:11)

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

• Turn on the asset dimension for Purchasing

• Turn on the AP integration for Fixed Assets Management

Step 1. Turn on the Purchasing integration

First, turn on the integration in Fixed Assets Management Configuration.

1. Go to Fixed Assets Management > Setup > Configuration.
2. Select Edit.
3. In the Sage Intacct app integrations section, select Create assets from purchasing transactions.
   
4. Select Save.

Step 2. Edit transaction definitions

After turning on the Purchasing integration, verify that your transaction definitions are set up to create assets and map item GL groups to Asset or CIP GL accounts.

1. Go to Purchasing > Setup > More > Transaction definitions.

2. Next to a transaction definition template that you want to use for creating assets, select Edit.

   Use the last transaction in your workflow.

3. In the Accounting > Multi-currency section, verify that the Accounts Payable option is selected for Transaction posting.
   

   Only transactions that post to AP can be used for creating assets.

4. Select the Posting configuration tab.

5. In the Transaction posting AP account mapping section, for each Item GL group that you want to use for creating assets, verify that the GL account matches an Asset or CIP GL account in an asset classification.

   To view which GL accounts are used in asset classifications, go to Fixed Assets Management > All > Asset classifications and review the columns. Select Settings > Configure columns to add additional columns to the view.
   

6. Select Save.

Step 3. Edit items

After mapping GL groups to Asset GL accounts, verify that your items use the GL groups that you mapped.

1. Go to Purchasing > All > Items.

2. Select an item that you want to use for creating assets.

3. Verify that the GL group is one that you mapped to an Asset or CIP GL account.

Next step: Create assets from purchasing transactions