Entering Asset Transactions

• The asset code identifies the asset in the Fixed Asset Register.
• The asset subcode is optional and identifies an asset posting preset which contains a set of default transaction analysis codes.
• The asset indicator is important because it identifies how the asset value will be updated by the transaction amount.

See 'How are the Asset Values Updated?'

Before you enter a ledger transaction to record an asset acquisition, you may need to:

• set up the new asset in the Fixed Assets Register using Asset Records (FAS)
• set up a new corresponding budget asset using Asset Budget Details (FAB)
• set up a new balance sheet account for the asset in the Financials ledger using Chart of Accounts (COA).

Optionally, you can also enter an asset quantity in the Memo AmountLedger Entry (LEN) field. In order to re the following configuration must previously have been defined:

• Use Asset Quantity option on the General tab of Ledger Setup (LES) must be checked field. In order to record asset quantities in
• Non-Currency Value Post Rule on the Memo Value tab of Business Unit Setup must not be set to Undefined
• Memo Post Rule Override field in Journal Types Setup (Posting Overrides) (JDX) must not be set to Undefined.

Further information is available in 'Entering the Journal Details' and 'Ledger Entry Asset Details'.