Fixed assets treatment with purchase a/c in erp

[Sachin_Sharma]

What is the procedure to book new purchased fixed assets in purchase A/c as well as in Fixed Assets Account?

[shraddha]

Hi,
Please Refer:-

How to purchase an Asset

Hello, I am purchasing a tool (which is an asset for my company). I went through the process of PO and PI. However in ITEM field in PI, under Accounting section, I only find "Expense Head" drop down menu which lists all the possible expenses, but not other accounts like Fixed Assets. Moreover, the PI will not save until I select an Expense Head. This affects how the numbers show up in the Trial Balance, instead of having a higher Assets value, I am having a very high Expenses value. Am I missin…

Purchase Invoice - Journal Voucher

Recommended workflow would be: 1. Create a warehouse for fixed asset item, I think there is already a default warehouse named “Fixed Asset Warehouse” , you can use that. 2. Create Purchase Receipt when items are arriving in your place and receive the item in “Fixed Asset Warehouse”. 3. While making Purchase Invoice, select expense account as “Stock Received But Not Billed”. Assuming you have enabled “Perpetual Inventory” system. If you are not using perpetual inventory system, then select newly…

[nabinhait]

Fixed Asset module is not there in the current version, you have to use some work around for it.The module/feature will be launched in version 7.