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Associate an AP Voucher Line Item with an Existing Asset Item

In Transaction Entry, you can associate AP voucher line items with existing asset items in the Equipment hub.

In the Equipment hub, the AP voucher line item amount is added to the asset item's cost and increase the depreciation basis for the asset item.

Asset items are equipment items that are based on purchasing items whose category type is Capital Items. If you have the Asset Management application activated, you can assign employees to asset items and set up depreciation information for asset items in the Equipment hub. In the Asset Management application, you complete depreciation and disposal processing for asset items.

Prerequisites: Before you can associate AP voucher line items with asset items in the Equipment hub, you must:

  • Activate the Asset Management application in Settings > General > Modules.
  • Select the Allow Equipment Entries for AP Vouchers and Journal Entries check box for your security role on the Accounting tab in Settings > Security > Roles.
  • Select the AP Voucher check box for Asset Item Source on the General tab in Settings > Asset Management (in the desktop application).
  • Enter the default overhead project, phase, and task in the Fixed Asset Disposal Gain/(Loss) Setup section on the General tab in Settings > Asset Management (in the desktop application).

To associate an AP voucher line item with an existing asset item:

  1. In the Navigation pane, select Transaction Center > Transaction Entry > AP Vouchers.
  2. On the main form, select one of two approaches:
    OptionDescription
    + New AP Voucher File If you are using files to group transactions, click this option and then use the New File dialog box to specify a filename and other details for the transaction file.
    + New AP Vouchers If you are not grouping transactions in files, click this option.
  3. On the AP Vouchers details form, enter the information for the AP voucher, such as the vendor, invoice date, voucher date, bank, and so on.
  4. In the Project Information grid, click Allow Asset Entries to toggle the switch to ON.
    Fields related to asset entries display in the Project Information Grid.
  5. In the Project Information grid, enter a row for the voucher line item that you want to associate with an asset item in the Equipment hub.
    Include the following asset item information:
    1. Do not select the Create Asset check box.
    2. Select an equipment from the Associate to Existing Asset drop-down field to select an equipment item with which to associate the AP voucher line item.
      You can select only existing asset items that have not had depreciation processed for them yet. The asset item that you select must belong to an overhead project.
  6. Click Save.
  7. Select one of two actions:
    • If you are working on a transaction file, in the main form of AP Vouchers, select the transaction file and click Post on the Actions Bar.
    • If you are working on an individual transaction, click Post on the Actions Bar of the AP Vouchers details form.
    When you post, each AP voucher line item that you associated with an existing asset item is added as a row in the Acquisition Cost grid on the GL Cost tab of the Equipment hub, for that asset item. The Type field in the Acquisition Cost grid prefills with AP Voucher. The vendor name, amount, period, description, voucher PO number, and account from the AP voucher line item prefill in the Acquisition Cost grid.