Fixed Asset on the Fly

Do you know with setting up an integration between Fixed assets and Accounts Payable you can create Fixed assets automatically by entering product receipts or vendor invoices into the system?

You have to do the set up in the Fixed asset parameter form > Purchase order

Depending on the set up you choose, there will be four different ways to handle the creation and acquisition of a Fixed asset.

First let’s take a look at the default method in AX2012. Only “Allow asset acquisition from Purchasing” is checked.

By default AX requires you to create the Fixed asset up front and add the existing Fixed asset number on the purchase order line or the vendor invoice line. When you then post the vendor invoice the acquisition transaction is automatically posted.

The second method is simply uncheck this box. No acquisition transaction gets posted when you post the vendor invoice. In that case you have to manually create the Fixed asset first and then acquisition and acquisition transactions by using manual journal entries or proposals.

As a third option AX provides the ability to create a Fixed assets automatically when you post a product receipt or vendor invoice with the check box “New fixed asset” on the line details form when the purchase order is checked. The check box on the Fixed assets parameter form is checked for “allow asset acquisition from purchasing” as well as for “create asset during product receipt or posting.”

The fourth possibility is again to uncheck the check box in the Fixed assets parameter form for “allow assets acquisition from purchasing”. The system then creates the Fixed asset automatically but the status remains in “not yet acquired”

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