Purchasing Fixed Assets

When you create a vendor invoice, typically you would identify an expense account to which you will post expenses associated with the vendor. Another use for a vendor invoice is to create a payable in your system that can also be used to associate a cost or basis with a specified fixed asset. If you are using an accounts payable invoice to create a payable for a fixed asset, you can use this topic.

Before you can complete the vendor invoice, you must have already created the fixed asset record. You can create the fixed asset record by going to the Fixed Assets module and creating it, or by creating a fixed asset during the vendor invoice creation process. For more information on creating fixed assets, see Creating Fixed Assets.

Creating a Vendor Invoice for a Fixed AssetCreating a Vendor Invoice for a Fixed Asset

From the Accounting menu, select Accounts Payable > Accounts Payable Invoices to open the Accounts Payable Invoices window.

Click [New] to open the New window.

In the Type field, use the drop-down menu to select Vendor Invoice and e-automate opens the New Vendor Invoice window.

Complete the following fields as appropriate.

Vendor: Name of the vendor from whom you received the invoice for the fixed asset.

Description: Brief description of this invoice or fixed asset.

Purchaser: Name of the employee responsible for this purchase.

Number: Automatically assigned invoice number, but you may change it.

Vendor invoice: Vendor’s invoice number.

Invoice date: Date the invoice was created.

Due by: Date the payment for the invoice is due according to the payment terms.

Amount: Amount due on the invoice.

Note: The charges total and the invoice total must match.

To add vendor charges for the fixed asset, do the following:

Click [Add] to open the Add Charge window.

Complete the following fields as appropriate.

Description: Brief description of the fixed asset charge(s) on the invoice.

Amount: Enter the cost or basis amount for the fixed asset.

Select the Apply to fixed asset radio button.

In the Asset field, identify the fixed asset you are purchasing with this vendor invoice.

Note: You must either create the fixed asset here, or have the fixed asset already created in e-automate when you complete the Add Charge window.

Note: The total charges you allocate to fixed assets must equal the amount of the invoice.

Click [OK] to complete the charge and return to the New Vendor Invoice window.

To add another fixed asset, repeat steps a through e.

When the Summary box and the Charges tab show the same total, click [OK]. E-automate saves the vendor invoice and posts the invoice to accounts payable and to the specified fixed asset accounts.