Creating Asset and Equipment Items from Purchase, Change, and Release Orders

Vision can automatically generate asset items and equipment items in the Equipment Info Center from the line items that you enter in the Purchase Orders application.

Types of Purchase Orders for Creating Asset and Equipment Items

Any type of purchase order (standard, blanket, or service) can generate asset items and equipment items. Release orders from blanket purchase orders generate asset and equipment items. Change orders can also generate asset and equipment items.

When Asset and Equipment Items Are Generated

Vision generates asset items and equipment items automatically when you final print a purchase, release, or change order.

Asset Items

Vision generates asset items automatically from the line items of a purchase, release, or change order when you final print them, if the following conditions are met:

• You have the Asset Management module activated.
• In Configuration > Asset Management, the Purchase Order check box for Asset Item Source is selected on the General tab.
• The purchase order has only one distribution project assigned to it, and it is an overhead project.
• A purchase order line item has a category type of Capital Items and a line item number entered for it.
• If you have multiple companies and multiple currencies set up in Vision, a project's functional currency must be the same as the functional currency of the active company that you are logged into when you final print a purchase order.

Equipment Items

Vision generates equipment items automatically from the line items of a purchase, release, or change order when you final print them if the following conditions are met:

• A purchase order has only one distribution project assigned to it, and it is a regular or promotional project.
• A line item on the purchase order has a category type of Equipment and a line item number entered for it.
• If you have multiple companies and multiple currencies set up in Vision, a project's functional currency must be the same as the functional currency of the active company that you are logged into when you final print a purchase order.

One Purchasing Line Item, One Asset or Equipment Item

Each purchasing line item that automatically generates an asset or equipment item in the Equipment Info Center generates one equipment or asset item, regardless of the quantity entered for the line item on the Line Items tab of the Purchase Orders form. For example, if a purchase order line item has a quantity of five, only one equipment item is generated for it in the Equipment Info Center, and the one equipment item represents five of that one item. If you want the five items to be five separate equipment items in the Equipment Info Center, you must enter five line items on the purchase order, each with a quantity of one.

Before You Can Process Depreciation for Automatically Generated Asset Items

Before you can process depreciation for an asset item that was generated automatically from a purchase order, change order, or release order, you must open the asset item record in the Equipment Info Center and complete the following:

• Change the status of the asset item from Inactive to Active in the Asset Status field on the GL Book tab.
• Review the prefilled depreciation information on the GL Cost, GL Book, and Additional Book tabs, and confirm that it is what you expect. Make any changes as necessary.
• Enter the acquisition date and the in-service date for the asset item on the GL Book tab.

  The in-service date determines the period in which the depreciation calculation starts for the asset item. Vision calculates a full month of depreciation for the period, regardless of the day within the period that you specified as the in-service date.

  Items added to the Acquisition Cost grid on the GL Cost tab that were posted in a period after the in-service date are incorporated in the depreciation calculation based on the Life of Asset check box selected for the item in the Acquisition Cost grid. See the discussion of Depreciation Processing for more details.

Supporting Documents

When an equipment item is created from a Purchase Order, any documents that are attached to the transaction are automatically added to the Attachments grid for the associated Equipment Info Center record.