Go to the fixed assets overview menu and select Assets. This will take you to your list of fixed assets.
Click New Asset in the far upper left corner of the screen.
Fill in the asset information on the first tab.
The required fields are name, class, date placed in service, cost and any dimensions you have chosen to require.
Date Placed in Service: this is an important date that cannot be changed later. This date directly impacts when depreciation starts. You can back date or forward date to get the correct effect on the depreciation schedule. This date is separate from the GL date if you choose to hit the GL. See below.
Transaction Currency: do not use this field unless you have multiple transaction currencies
AP Bills: this is the point where you can link this manually created asset to its related AP bill(s)
Dimension Information section
Fill in the dimensions that you chose to require upon setup. If you do not recall, go to Fixed Asset-->Settings.
Allocation: AssetEdge now supports the use of Intacct's Allocations. This is just a method of allocating costs among sets of dimensions. For example, if you know that each month for this asset you want 50% of depreciation to be booked to the Finance Department and 50% to be booked to the HR Department, you would create an allocation for this under Company-->Open Setup-->Allocations and then assign it here.
Leasehold Improvement Details
AssetEdge supports the unique lives of leasehold improvements. Typically, you are depreciating your LHI over the remaining life of their lease when they were placed into service. Instead of having a class for every different life of your LHIs, we have built this feature so that you can relate your LHI to a parent lease from which it will inherit its remaining life.
NOTE: This only works if you have the leases in AssetEdge as depreciable assets. If you do not have your leases in as depreciable assets, please follow the guidance on the Prior Depreciation Information tab.
Capitalization Details
You MUST select the "Create Capitalization Entry" checkbox for the asset to be properly booked to the GL. This setting also has a direct cause and effect relationship on classifying your fixed asset additions because most of the reports hinge off of activity in the GL.
You can choose to have the capitalization entry dated differently than the placed in service date.
You must select an offset account to book to the GL (whether cash or AP for example).
Additional Information tab
All information here is optional.
Prior Depreciation Information tab
There are two uses for this tab: 1. if you are putting an asset into AssetEdge that you have already owned and depreciated in part or 2. if you need to manipulate your LHI class into a shorter life for your LHI
You can use the Posted Periods Prior to Import text box to enter the number of months you need to adjust the LHI class down to the appropriate life. For example, if you have a 120 month LHI class and an LHI that was placed into service when the lease only had 13 months remaining, you do not want the LHI to depreciate over 120 month, but rather 13. So in this box (Posted Periods Prior to Import) you would put 107. This is found by taking the class life (120) less the desired remaining life (13).
Click save to create the asset record and place it into service.
