1. Accounting
  2. Fixed Assets Management
  3. Creating Fixed Assets Management Records
  4. Creating Asset Records from Transactions
  5. Asset Proposal and Generation
  6. Proposing New Assets

Proposing New Assets

You can create proposals for transactions posted to the fixed asset general ledger accounts on the Asset Proposal page. You then review the proposed assets and select which ones to turn into asset records.

Note:

Asset Proposal no longer captures assets created from transactions that transfer assets across asset types. For more information, see Transferring Assets Across Asset Types.

Note:

If you encounter a permission violation when viewing the Asset Proposal page, make sure your role has sufficient permission. For more information, see Setting Fixed Assets Management Permission Levels. If you have the right permissions but still see an error, ask an administrator to view the page first. Doing so initialized the settings so other users can view the page.

Proposing New Assets

  1. Go to Fixed Assets > Transactions > Asset Proposal.

  2. On the Asset Proposal page, enter values for the following fields:

    • Date Range — Select a date range value. The system calculates the start date of the transactions that you want to propose based on the selected range and end date.

      Note:

      The system sets the date range to Custom if you change the values for the Start Date or End Date.

    • Start Date and End Date — Enter the date of the transactions that you want to propose. The search retrieves transactions dated within the specified range.

    • Subsidiary - Select the subsidiary of the transactions that you want to propose.

    • Include Children - Check this box to search transactions in the child subsidiaries of the selected subsidiaries.

    • Asset Types - In the Asset Types sublist, select one or more asset types.

      You can't add an asset type that has the same operating lease and account name as another asset type that's already on the list.

      Note:

      The system proposes lease journals for operating lease only for asset types that are tagged as Operating Lease.

  3. Click Propose New Assets to check for new transactions and create proposals. The system searches for new assets dated within the specified start and end dates, and creates an Asset Proposal record for them. The proposal records are listed on the Manage Proposals page.

    Important:

    If Propose Approved Transactions Only is turned off, the system proposes assets from all transactions posted to the fixed asset general ledger accounts regardless of transaction status. To enable the setting, go to Fixed Assets > Setup > System Setup.

    You'll be redirected to the Process Status page where you can track the progress of the asset proposal.

    Note:

    For Operating Lease asset types, the Residual Value equals the negative total interest.

    There's no limit to the number of assets that the SuiteApp can handle from a single journal entry.

  4. On the Proposed Assets sublist, select or clear asset proposal records as needed.

Related Topics

General Notices