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Delayed Asset Capitalization

Hello all,

I am trying to track assets and we have run into an issue where the users are not entering an Asset Number in the Purchase Req/ Purchase Order. The reason for this is they do not want to start capitalization on an asset until it is installed and commissioned, and so they will not create the Asset number until they are ready to capitalize. As a result, we cannot tie a certain PO to a certain Asset number, and this is really limiting our ability to provide insights on the data.

If our end goal is to get an Asset number in a PO but delay capitalization until commissioning, what are our options?

Thanks,

Sara

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3 Answers

  • Best Answer
    Posted on May 30, 2019 at 03:47 PM

    Hi Sara

    You can specify an AUC asset number in the PO and then settle the AUC to main asset. This is one option

    Second option is assign the main asset in the PO. The asset should be created with 0000 dep key. Later, when the asset is installed, change the dep key with effect from installation date. Don’t just change the dep key directly, you must change it w.e.f a date. This should fix your issue

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  • Posted on May 31, 2019 at 08:05 AM

    Thanks, Ajay. If we go with AUC, does this get converted to a Fixed Asset automatically when the invoice is settled, or is this a manual process that someone will have to execute?

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  • Posted on Jun 05, 2019 at 12:49 PM

    This will be a manual process, you can automate with a Z program

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