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I have around 7 purchases from my Construction in Progress account that I need to move into a single fixed asset, New Lab Buildout. The problem I am having is that, when I select the 7 transactions and hit "Process," Acumatica creates 7 new fixed assets. I read in another forum that you can make a parent/child asset relationship in fixed assets, but I don't know how to do that either. Has anyone ever accomplished using the Convert Purchases to Fixed Assets function with multiple items to create a single fixed asset?
Jeff Jennings
Hi Jeff,
I use JAMIS Prime (built on Acumatica) so this may be a little different but here is what works for us. We convert each purchase one at a time. The first one we convert like any other asset. Then each remaining purchase we convert into the first asset by unchecking "New Asset" and selecting the first asset's ID in the "Asset" field.
The Fixed Assets screen shows the different parts/purchases under the Transaction History tab of the asset created.
If instead of one asset you want an asset per purchase but you want them categorized together for reporting, you can use the Component checkbox, but this only categorizes the assets together for reporting purposes and doesn't lump them into one asset with one depreciation calculation.
Dianne
Thank you, Dianne! I am working on this now and will let you know. I see the "Create Asset" checkbox on my end and also a New Asset ID which probably relates to your "New Asset" column and the "Asset" column on your program.
@jjennings You can turn multiple AP bills into one fixed asset. Use the reconciliation tab and select the multiple bills to process them in one asset. I did this scenario to convert 5 AP bills into 1 Asset. System then added the amount of all bills into Asset acquired cost.