Creating Asset Items and Equipment Items Directly in the Equipment Hub

You can add asset items and equipment items directly in the Equipment hub.

Normally, you generate asset items and equipment items from the line items that you enter for AP vouchers, purchase orders, change orders, and release orders for blanket purchase orders. The asset or equipment item is created and so is an entry for your general ledger to account for the asset item or equipment item. However, in some situations, you may need to enter asset items or equipment items directly in the Equipment hub. For example, you may have already accounted for an asset item or equipment item in your general ledger, but the asset item or equipment item is not yet entered in the Equipment hub. In this scenario, when you enter an asset or equipment item directly in the Equipment hub, your general ledger is not affected. This could be the situation if you started using the Equipment hub in DPS after you processed asset items and equipment items in DPS and the items are already accounted for in your general ledger.

An equipment item is created for a regular project from a purchasing item with a category type of Equipment. You cannot process depreciation for equipment items, as you can for asset items. For example, for regular projects, you can enter equipment items that were purchased by your clients directly in the Equipment hub. This allows you to track all equipment used on a project, including the equipment that your company did not purchase.

An asset item is an equipment item that is created from a purchasing item with a category type of Capital Items. You can process depreciation for asset items. For example, you can enter asset items directly in the Equipment hub if you purchased and processed the items in DPS before you set up and started using the Equipment hub. The costs that you enter for an asset item in the Equipment hub are not updated to the general ledger.