Purchasing Items Used to Create Asset Items and Equipment Items

Asset items and equipment items that are stored in the Equipment hub are created from purchasing items whose category type is either Capital Items or Equipment.

Create asset items from purchasing items with a category type of Capital Items. Depreciate asset items in the Asset Management application.

Create equipment items from purchasing items with a category type of Equipment. You cannot depreciate equipment items in the Asset Management application. You cannot create Equipment hub items from purchasing items with a category type of Materials & Supplies or Services, or from inventory items.

Set up a master list of system-wide purchasing items for your company (or all of your companies, if you have multiple companies) in Settings > Purchasing & Inventory > Items Master.

If you do not use the Vantagepoint Purchasing application, but you do use the Asset Management application, you still set up a master list of purchasing items in Items Master Settings.

Before you set up purchasing items in Items Master Settings, you must set up categories for the items and a type for each category, and then specify the item categories that apply for your company or multiple companies:

• On the Item Categories tab in Settings > Purchasing & Inventory > System, set up system-wide item categories for purchase items, and specify a type for each item category.

  The possible types for categories are Capital Items, Equipment, Materials & Supplies, and Services. Only purchasing items with a category type of Capital Items or Equipment can be tracked through the Equipment hub.

• On the Item Categories tab in Settings > Purchasing & Inventory > Company, specify the item categories to use for your company (or for each company, if you have multiple companies). Specify general ledger accounts and other information, such as whether an item category is taxable. These settings help automate data entry and processing.