Creating Assets from the Accounts Payable and Purchase Order Modules

                         

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Assets can be created in Sage Fixed Assets based on Accounts Payable or Purchase Order line items. During invoice entry, manual check entry, purchase order entry, or receipt entry with invoice, you can enter an asset account and select an asset template for the line items. When the asset items are invoiced and updated, the asset items are posted to the asset account and assets are created based on the asset template. When the applicable register is updated, the Fixed Assets Import Status Report is printed, which you can use to verify the assets created.

Note Sage Fixed Assets refers to the fixed assets product used with Sage 100.

You must verify the following to create assets from Accounts Payable or Purchase Order:

 

Expand/Collapse item  Notes for creating assets from the Accounts Payable module

  • In Invoice Data Entry and Manual Check and Payment Entry, assets can be created only for invoice line items with positive amounts. Assets are not created for invoice lines with negative amounts.

  • Assets are not created for non-invoice lines such as prepayments, adjustments, returns, and credit memos.

  • If an asset account is used for adjustment, you must manually adjust the asset value in Sage Fixed Assets.

  • If an asset is created for an invoice and the invoice is later adjusted, you must manually adjust the asset value in Sage Fixed Assets.

  • Assets are not created for transfers (such as credit card payments where invoices are transferred to different vendors).

  • Assets cannot be created on job number invoice lines.

  • Do not use the Inventory Management module to track asset items, because the asset items are not resold. Using Inventory Management to track asset items can result in incorrect asset and inventory values.

 

Expand/Collapse item  Notes for creating assets from the Purchase Order module

  • Assets cannot be created on job number or work order number lines.

  • The number of assets created reflects the quantity of the line items invoiced. For example, if the purchase order line reflects 5 chairs, then 5 assets are created; however, if the invoiced quantity is in a fraction, only 1 asset is created for the line. For example, if the line reflects 2.5 lbs of a material, 1 asset is created for the line.

To create multiple assets for a fractional quantity, you can enter the order or receipt across multiple lines. For example, instead of entering 1 line for 2.5 lbs, you can enter 2 lines for 1 lb each and a third line for 0.5 lb to create 3 assets.    

  • For fractional quantities, the asset can be created only if the quantity invoiced equals the quantity ordered. For example, if the line reflects 2.5 lbs of a material, the asset is created when 2.5 lbs are received and invoiced. If 2 lbs are received, the asset is not created. Likewise, if 3 lbs are ordered and 1.5 lb is received, the asset is not created.

 

For more information, see:

Enter an Accounts Payable Invoice

Write a Manual Check

Purchase Order Entry

Enter a Purchase Order

Receipt of Goods Entry

Enter a Receipt of Goods

Receipt of Invoice Entry

Enter a Receipt of Invoice


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