How can I record one asset ID wherein the invoice is split into 3 invoices and recognize the asset cost per individual invoices?
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Hello,
As you post invoices to the FA clearing account, they go into queue to in turn have the assets created. After posting invoices, you can see these pending purchases under the FA General Maintenance window.
If/when you’re trying to turn multiple purchases into one asset, select the “Purchases” button on the FA General Maintnenace window and then use the furthest most checkboxes for each line (might be the 2nd) to select All of the invoices that you want to include to turn into one asset.
After you select the invoices and hit OK, you’ll be left with the start of an asset for the gross amount of the invoices that you selected. From there, you’ll always have the ability to drill into that detail by selecting the drill-down arrow next to the acquisition field.
Hopefully this answers your question but if not, please let me know.
Hi,
If you do not receive the invoices at once, you may have multiple invoices at different dates. For instance, you purchased the item from one company and then you had a different company install it. If you have capitalized the first invoice, then you need to add the second invoice to the same asset. Using the Fixed Assets module, I would add a Field Suffix to include the extra invoices to the asset basis.
Kind regards,
Leslie
Hi Leslie,
Thanks for your inputs. However, how will this affect the depreciation? The asset has multiple invoices and they wanted to recognize the asset cost at each time they receive the invoice but will not start depreciating until it is fully invoiced. The amount might also change in the future.
Hi Kyle,
I will take a look at your suggestion and see it fits the requirement. Thank you for your input.
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