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Fixed Assets Purchase

Purpose

To be done

Prerequisites

Each fixed asset requires the following:-

  1. a Fixed Asset Class
  2. a Fixed Asset Category
  3. a Fixed Asset Location
  4. a Fixed Asset Item

Procedure

The procedure is the same as a purchase order in Purchasing

Each fixed asset needs to have its own unique registration in the fixed asset register: i.e. Fixed asset's can only be purchased singularly; so if you have purchased three printers of the same make, model etc, each printer will have to be purchased separately as an individual fixed asset. Why? If one of the printers breaks down or is broken and beyond economic repair, then that printer will need to be written-off in the fixed asset register.

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Tips and Tricks

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FAQ's

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