Asset Creation

The Asset Creation feature in the Fixed Assets Management SuiteApp enables you to create assets automatically without the need to propose them first.

When you use the Asset Creation feature, you can specify the start and end dates of the transactions for which you want to create an asset. However, you will not be able to select individual transactions to generate asset records for.

To create asset records:

1. Go to Fixed Assets > Transaction > Asset Creation.

2. On the Asset Creation page, enter values for the following fields:

   • Date Range — Select a date range value. The start date of the transactions that you want to create assets for, will be calculated based on the selected range and the specified end date.

     Note:

     The date range will be set to Custom if you change the values for the Start Date or End Date.

   • Start Date and End Date — Enter the date of the transactions for which you want to create an asset record. The search will retrieve transaction records with dates that fall within the specified start date and end date.

   • Subsidiary - Select the subsidiary of the transactions that you want to create assets for.

   • Include Children - Check this box to search transactions within the child subsidiaries of the selected subsidiaries.

   • Asset Types - In the Asset Types sublist, select one or more asset types.

     You cannot add an asset type that has the same operating lease and account name value as another asset type that is already on the list.

     Note:

     Lease journals for operating lease will only be proposed for asset types that are tagged as Operating Lease.

3. Click Create Assets.

   The system automatically creates asset records for all transactions that match the filter criteria and have been posted against the fixed asset general ledger accounts.

On the Process Status page, the following processes will be queued for asset creation. You can click the Details link on any process to view the process stage details.

Process	Process Stage	Process Stage Description
Asset Creation	Prepare data to Generate Assets	Prepare data from transactions posted against the fixed asset general ledger accounts.
	Generate Asset Records	Create asset records.
Generate Depreciation Schedule	Generate Depreciation Schedule Values	Create depreciation history records for generated assets and tax methods.

Assets that are already proposed will not be processed by Asset Creation. To create asset records for proposed assets, use the Generate Assets option (Fixed Assets > Transactions > Asset Proposal). For more information, see Asset Proposal and Generation.

In some cases, you may want to review, edit, and select the transactions before creating asset records for them. For example, you may want to create parent-child relationships between asset proposal records if you want to track them as a single asset. To combine assets, see Multiple Asset Proposal.

Note:

Asset Creation no longer captures assets created from transactions relating to asset transfers across asset types. For more information, see Restricting the Editing of Asset Values.

Related Topics

Fixed Assets Management Overview

Creating Asset Records Manually

Creating Asset Records from Transactions

Asset Proposal and Generation

Multiple Asset Proposal

General Notices