Registering assets via the purchase journal

Introduction

 

You have just purchased a new asset and have received the purchase invoice from the supplier. Besides having the possibility to create a purchase journal entry from asset maintenance , it is also possible to create an asset from the purchase journal. For this you enter the purchase invoice in the purchase journal of Exact Globe 2003 Enterprise .

 

Explanation of the fields

 

Step 1

 

An asset is always an item that is purchased from a certain supplier. This initial purchase is therefore the first step of the asset registration. It is only possible to enter the asset once three asset accounts have been defined:

 

-         Balance account (purchase amount) of the asset

-         Balance account (depreciation) of the asset

-         Profit and loss account of the depreciation costs

 

These GL accounts are used to process the relevant depreciations in your financial administration. These accounts can be created in the maintenance of GL accounts. After having linked the asset to a asset group, the sub-administration of the account will be ‘Asset account’. Furthermore, the attribute ‘Item’ will be made mandatory when using this account.

 

To make a new Asset account, choose [Finance/General ledger/Chart of G/L’s]. Choose new and enter the desired data:

 

 

Step 2

 

After having created all GL accounts, an item can be created via the item maintenance. This item will later be linked to the asset. If you also wish to register serial numbers from the purchase journal, the item must have the attribute ‘Serial’.

 

 

Note that an item will only have the attribute ‘Asset’ when it has been linked to a serial number.

Furthermore, make sure the asset account is filled in the maitenance of this item on the tab 'Financial'.

 

Step 3

 

Once you have gone through the past steps, the purchase invoice can be entered in the purchase or general journal. Once the item from step 2 has been selected, the selection screen for serial numbers will be opened.

 

 

Here, an existing serial number can be selected.

 

Step 4

 

If no serial number is created yet, a new serial number can also be created at this stage.

 

 

The maintenance screen for assets is now opened. A new serial number can be defined. As soon as all necessary data is entered, the screen can be closed via ‘Save’ and ‘Close’. The serial number is now linked to the purchase entry.

 

Now, the planned depreciations can be calculated by opening the serial number in question via the maintenance screen for assets .

 

After the transactions have been calculated, the budgeted depreciations can be processed.