Create an Asset Item from an AP Voucher Line Item

In Transaction Entry, you can generate asset items automatically from line items that you enter for AP vouchers.

Prerequisites: Before you can automatically generate asset items in the Equipment hub from AP voucher line items, 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 automatically generate a new equipment item from an AP voucher:

1. In the Navigation pane, select Transaction Center > Transaction Entry > AP Vouchers.
2. On the main form, select one of two approaches:

   Option	Description
   + 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. In the Project Information Grid on the AP Vouchers details form, click Allow Asset Entries to toggle the switch to ON.
   Fields related to asset entries appear in the Project Information grid.
4. Click + Add Detail to add more rows for each voucher line item for which you want to automatically generate an asset item.
   For each of the line items, complete the information in the row, including the specific information for the asset item to be generated:
   1. Select the Create Asset check box.
   2. Use the Asset Type field to select the asset type for the asset item.
      The asset type determines the property type, depreciation method, asset account, accumulated depreciation account, and depreciation expense account that will be used for the monthly depreciation journal entry for the asset item. This information prefills on the GL Book tab in the Equipment hub (on the desktop client) when the asset item is generated.

      Asset types are set up on the Asset Type tab in Settings > Asset Management (in the desktop application). When you select an asset type in the Asset Type field, the asset account that is set up for the asset type in Asset Management Settings prefills in the Account field in the voucher line item grid.

   3. In the Item Number field, select a purchasing item from the drop-down list.
      This is the purchasing item upon which the asset item will be based when it is automatically generated in the Equipment hub. The drop-down list includes only purchasing items entered in Settings > Purchasing & Inventory > Items Master (in the desktop application) whose category type is Capital Items. These are the only items that can have depreciation processed for them.
   4. In the Project Name field, select an overhead project.
      If you do not use organizations, or if you use organizations, but you do not maintain separate balance sheets, the Project Name, Phase Name, and Task Name fields prefill with the default project, phase, and task entered in the Fixed Asset Disposal Gain/(Loss) Setup section on the General tab in Settings > Asset Management, which you cannot change.
5. Click Save.
6. Select one of two actions:
   • If you are working on a transaction file, on 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 line item from the voucher that has asset item information entered for it is added automatically as an equipment item in the Equipment hub. Information from the AP voucher line items prefills on the General tab, GL Cost tab, GL Book tab, and Additional Books tab if you have additional books.

Postrequisite: You must enter depreciation information for an asset item in the Equipment hub. See Enter Depreciation Information for Asset Items Generated Automatically from Other Applications.

You must do this before you can process depreciation for an asset item in Asset Management > Depreciation Processing. You must change the asset status from Inactive to Active and enter an in-service date and other depreciation information in the Equipment hub. Optionally, you can also associate and assign employees with asset items in the Equipment hub.