Fixed asset transaction options

Note

Community interest groups have now moved from Yammer to Microsoft Viva Engage. To join a Viva Engage community and take part in the latest discussions, fill out the Request access to Finance and Operations Viva Engage Community form and choose the community you want to join.

This article describes the different methods available for creating fixed asset transactions.

Set up fixed assets for integration with Accounts payable, Accounts receivable, Procurement and sourcing, and General ledger. You can also transfer items in Inventory management to fixed assets if you want to use those items internally.

Accounts payable

Enter fixed asset transactions on the Journal voucher page. Open this page from the Invoice journal page. You can also open the Journal voucher page from the Invoice approval journal page. In the Offset account type field, select Fixed assets. Then, in the Offset account field, select a fixed asset number. On the Fixed assets tab, enter values in the Transaction type and Book fields.

Accounts receivable

Enter fixed asset transactions on the Free text invoice page. On the Free text invoice page, in the Invoice lines grid, select a line item. Select the Line details FastTab. Enter the fixed asset number and book for the disposal transaction. For free text invoices, the fixed asset transaction type is always Disposal - sale.

Procurement and sourcing

Enter fixed asset transactions on the Purchase order page. Enter the required information to create a purchase order, and then select OK. On the Purchase order page, select the Line details FastTab. Then, on the Fixed assets tab, enter information about the fixed asset.

To post an acquisition transaction for an existing fixed asset, specify the fixed asset number, book, and transaction type. The fixed asset can't be posted if any of this information is missing. To post an acquisition transaction for a new fixed asset, select the New fixed asset? option, and then select the fixed asset group to assign the new asset to. However, no fixed asset fields are available for a line if the item is in an inventory model group that uses a standard cost inventory model. Additionally, the options that are defined in the Fixed assets parameters page determine whether you can post acquisition transactions from the purchasing modules.

When a purchase order or the Inventory to fixed assets journal is used to acquire fixed assets, the inventory value is affected.

General ledger

Any fixed asset transaction type can be posted in the General journal page. You can also use journals in Fixed assets to post fixed asset transactions.

Options for entering fixed asset transaction types

Transaction type	Module	Options
Acquisition, Acquisition adjustment	Fixed assets	Fixed assets, Inventory to fixed assets
	General ledger	General journal
	Accounts payable	Invoice journal, Invoice approval journal
	Procurement and sourcing	Purchase order
Depreciation	Fixed assets	Fixed assets
	General ledger	General journal
Disposal	Fixed assets	Fixed assets
	General ledger	General journal
	Accounts receivable	Free text invoice

The remaining value isn't updated for the depreciation periods of a fixed asset when a depreciation transaction type journal line is created manually or imported through a data entity. The remaining value is updated when the depreciation proposal process is used to create the journal line.

For more information, see Fixed assets integration.

The system prevents posting depreciation to the same period twice. For example, if two users create depreciation proposals separately for January, the depreciation from the first user posts in the first journal. When the second user posts depreciation in the second journal, the system checks the date that depreciation was last run and doesn't post depreciation for the same period a second time.

Transactions that require a different voucher number

The following Fixed assets transactions will use different voucher numbers:

• You make an additional acquisition on an asset and calculate "catch-up" depreciation.
• You split an asset.
• You turn on a parameter to calculate depreciation on disposal, and then dispose of the asset.
• An asset's service date is before the acquisition date. Therefore, you post a depreciation adjustment.

Note

When you enter transactions, make sure that all the transactions apply to the same fixed asset. You can't post a voucher if it includes more than one fixed asset, even if you set the New voucher field to One voucher number only on the Journal names page in General ledger. If you include more than one fixed asset in the voucher, you receive the message, "There can only be one fixed asset transaction per voucher," and you can't post the voucher.