Fixed Asset generation in many quantities

Query

I have purchase transaction of fixed asset, let say procurement purchase 200 pcs of tables in single PO Line. requires to generate 200 Assets ID. How to do it ?

Answer

Hello there! The Asset Account set on the Inventory Items on the Purchase Order must be a Fixed Account so it can be proposed as a New Asset and then you can split it. Here’s how:

1. Create an inventory item by navigating to Lists > Accounting > Items > New > Inventory Item
   1. In the Accounting tab > Asset Account field > set this to the asset account to which assets will be posted to.
   2. Note:The asset account selected must be properly set to be shown in Fixed Asset Management (Lists > Accounting > Accounts > Show in Fixed Assets Management). This must also be the asset account selected in the Asset Type (Fixed Assets > Setup > Asset Types > Accounts tab > Asset Type Asset Account).
   3. Set other necessary fields
   4. Click on Save
2. Create a Purchase Order by navigating to Transactions > Purchases > Enter Purchase Orders
   1. Enter necessary fields
   2. Under the Items tab > choose the item created for the Fixed Asset
   3. Click on Save
3. Receive the items by going to Transactions > Purchases > Receive Orders
4. Note: Upon receiving the order, the GL impact will post a debit to the fixed asset account for the item record created from above.

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1. Navigate to Fixed Assets > Transactions > Asset Proposal > Populate the Date Range  > Select and Add the Asset Type > Click Propose New Assets button 

2. Navigate to Fixed Assets > Transactions > Manage Asset Proposal 

1. On Manage Proposals page, click the Edit hyperlink under the Edit Column of the Asset to be proposed

2. It will redirect you to FAM Asset Proposal page

3. Go to General Subtab

4. Edit the Quantity field = No of quantity stated on the invoice

5. Click Save

3. After saving you will redirected back to the Manage Proposal page and you will notice that there is an additional column appear = Split Column > Click the Split hyperlink > Proposal Split page 

4. On the Proposal Split page you may now add manually the Quantity and Cost. The more you add a quantity and cost in the line item in the Split Details Section, the Remaining Cost and Remaining Quantity field is decreasing till you exhaust the Quantity.

5. Once your done, Click Split button (Wait for the Asset Proposal Split Process be completed)

6 Once completed, navigate to Fixed Assets > Transactions > Manage Asset Proposal 

You will notice now that on the Manage Proposals page it will show the individual and separate FAM Asset record that you have created in the Proposal Split page to be generated.

7. Select all the assets that you wanted to Generate

8. After selecting, Click Generate Assets button.