Adding Existing Fixed Assets

Hello all,

I would like to add 200 Fruit Crates and 50 Racks etc as assets but adding these many existing assets as mentioned in the video tutorial will be hectic work. Can someone suggest a workaround.


Maybe you can use data import tool

I was thinking to keep a Set of 50 crates as one Asset so that I can enter only 4 assets for 200 crates… would that be correct?

In my case I was assuming that when creating an item and checked as fixed asset, the item was supposed to be created as a fixed asset after purchase?

Current process flow that works is:

  1. Create Asset Category for all assets
  2. Create item(s) and mark as fixed asset (which asks me to select category and naming series)
  3. Create purchase order for item(s) and determine expense head
  4. Create Payment Entry
  5. Create Asset Register/Add purchased items to assets.

I am facing what I call a “cyclical error” if I try to create a fixed asset manually while processing purchase invoice. There’s clearly an opportunity to register the asset during purchase but trying to do this prompts me to create a purchase invoice and payment entry for the asset (which is being processed) and won’t allow me to save the asset record before purchase invoice is submitted and paid for. If on the other hand, is select is existing asset, it throws an error that an existing asset cannot be purchased.

One would expect that so long as the item is tagged as fixed asset, the expense head, asset category and asset number series have been pre-determined during item creation and purchase, the item will automatically be registered as an asset. The extra effort to register the item(s) as fixed asset could therefore be cumbersome with hundreds of items to purchase.

Sorry, I didn’t mention that I’m using Version 9 and I think you’re on version 11 in which serial numbers of the assets is automatically created.

I am actually using version 12. I believe it will be less cumbersome if items marked as fixed assets are automatically added to the asset register after purchase is complete because having to add them manually is a lot of extra work especially if you’re dealing with a large number of assets as it is in your case.

How do I add an existing fixed asset. It keeps asking me purchase invoice number and purchase receipt. However since it is an old asset its not possible for me to do that.

Please advise.

Select option, Is Existing Asset