Add Asset Transactions

From Fixed assets, after you add a new asset record, the acquisition transaction should be the first transaction recorded. It captures the asset's initial acquisition and posts a debit to the asset account and a credit to the default fixed asset credit account.

After the acquisition transaction is recorded, you can add other asset transactions, such as depreciation, improvements, and disposals.

Tip: Select a transaction number to view its details, or view all transactions associated with the asset.

Add Asset Acquisition Transactions

After you add a new asset record, the acquisition transaction should be the first transaction recorded. It captures the asset's initial acquisition and posts a debit to the asset account and a credit to the default fixed asset credit account.

1. You add an acquisition transaction in several ways. Available options vary based on where you add the transaction.

   • From Fixed assets, Transactions, select Add.

   • From the action bar of an asset record, select Add acquisition.

   • From an asset record, under Transactions, select Add acquisition.

2. Enter or search for the asset you want to associate with the new acquisition transaction, either by asset ID or acquisition date.

3. Specify the asset acquisition type.

4. Enter or confirm the acquisition transaction date and amount.

5. Specify the post status.

   If the acquisition expense has been recorded in Payables, select Do not post to avoid double posting the acquisition expense.

6. Under Distributions, enter the debit and credit accounts for the acquisition distribution.

   Tip: To apply an account distribution set, select Apply account distribution set.

7. Select the projects, classes, grants, and transaction codes for the distribution, and enter custom fields to further define the distribution.

8. If the debit and credit accounts aren’t in the same fund, select an interfund set to balance the accounts.

9. Work with attachments as necessary.

   Upload or link to files you want attached to the asset, such as images, PDFs, Word documents, Excel spreadsheets, and other files.

10. Select Save.

    To add another transaction, select Save and add another.

Add Other Types of Asset Transactions

After the acquisition transaction is recorded, you can add other asset transactions, such as accumulated, year-to-date, annual, and period depreciation, improvements, and disposals.

Note: If the asset has any period depreciation transactions, you can't add accumulated or year-to-date.

Note: Available asset transaction types depend on the asset you select when adding the asset transaction.

1. You add an asset transaction in multiple ways:

   • From Fixed assets, Transactions, select Add.

   • From the action bar of an asset record, select More, then select the type.

   • From an asset record, under Transactions, select Add, then select the type.

2. Specify the date, amount, and post status and date.

3. Under Distributions, enter the debit and credit accounts for the distribution.

   Tip: To apply an account distribution set, select Apply account distribution set.

4. Select the projects, classes, grants, and transaction codes for the distribution, and enter custom fields to further define the distribution.

5. If the debit and credit accounts aren’t in the same fund, select an interfund set to balance the accounts.

6. Work with attachments as necessary.

   Upload or link to files you want attached to the asset, such as images, PDFs, Word documents, Excel spreadsheets, and other files.

7. Select Save.

   To add another transaction, select Save and add another.