How to Acquire a Fixed Asset

Step 1: Open the fixed asset you want to acquire. Click on Home Tab, then click on Acquire. 

Step 2: This will open the fixed asset Acquisition Setup. Click next. 

Step 3: Now, fill the Post to field with the account type you want to balance the FA against (Vendor, GL Account, Bank Account). 

Step 4: Now Enter the responding Account No.  

Step 5: Now enter the External Document No., this can be the invoice no from vendor, and then click Next. 

Step 6: Now enter the Acquisition Cost Including Vat.  

Step 7: Now add the Acquisition Date at which the Asset was acquired and then click Next. 

Step 8: Now enable the “Upon Finish Open the FA G/l Journal” option and click finish. 

This will open the FA G/L Journal Page and batch with prefilled lines of the specific Fixed asset you are acquiring. 

Step 9: Once you click finish in step 8, you will be redirected to the Fixed Asset G/L Journal with prefilled lines. 

Step 10: Click on the Home tab and click on Post, to post the Journal Lines and acquire the Fixed Asset. 

Step 11: Go back to the Fixed asset acquired and you will see the Acquired option enabled.