quinta-feira, 7 de novembro de 2019

Creating a Fixed Asset from multiple Supplier Invoices

One question that has been asked many times is how you can create a Fixed Asset from many supplier invoices. For Example you may buy the components of a laptop, and once assembled those components become one fixed asset.
Here is a simple step by step guide to help you. And some advice too!
First: make sure that if any of the invoices are below the fixed asset capitalisation threshold (as defined in fine tuning) are entered last. In effect you would enter the invoices in descending value, with the first ones above the capitalization threshold. If all the invoices are below the threshold then you would be advised to reduce your threshold limit for this exercise.
  1. In the Supplier Invoicing work center navigate to the Invoices and Credit Memos view.
  2. Either create a New Invoice Without Purchase Order from the Common Tasks view or create an invoice from a Purchase order in the Invoice Entries view.
  3. Press View All and maintain all mandatory data in the General tab, then navigate to the items tab
  4. Enter the first item, on the first invoice
  5. Ensure to maintain either Product Category or Product. Ensure that the Product Category is assigned a default account determination code (or the invoice will not post)
  6. Ensure to add the product type, if you are using product category.
  7. In the Account Assignment Type field select IMAT – Individual Material.
  8. Enter a new or existing individual material.
  9. If you have other line items on the same invoice you can add them now and assign to the same IMAT.
  10. Check the new fixed asset after the invoice is posted
  11. Now you can add further invoices from separate suppliers and post them to the new asset.
  12. Check the IMAT valuation data to ensure invoices are posted and the correct values are added to the asset value
I hope this proves a useful guide, Please let me know if you have any questions or need support.

Best Regards
John Meadows
Cloud ERP Specialist

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