Acquisition of new assets using norming asset management sage 300

Acquiring new assets using Asset Management in Sage 300!

Here's a step-by-step guide to help you navigate the process:

Prerequisites:

  1. Ensure you have the Asset Management module activated in your Sage 300 system.
  2. Make sure you have the necessary permissions and access to the Asset Management module.

Step 1: Create a new asset

  1. Go to Assets > Asset Management > Assets.
  2. Click on New to create a new asset.
  3. Enter the required information, such as:
    • Asset Name
    • Asset Type (e.g., Equipment, Vehicle, etc.)
    • Asset Category (e.g., Machinery, Furniture, etc.)
    • Asset Subcategory (e.g., Industrial Machinery, Office Furniture, etc.)
    • Asset Description
    • Asset Location
    • Asset Status (e.g., New, Used, etc.)
  4. Click Save to save the new asset.

Step 2: Assign the asset to a department or location

  1. Go to Assets > Asset Management > Assets.
  2. Find the new asset you created and click on it.
  3. Click on the Assignments tab.
  4. Select the department or location where the asset will be used.
  5. Click Save to save the assignment.

Step 3: Record the acquisition cost

  1. Go to Assets > Asset Management > Assets.
  2. Find the new asset you created and click on it.
  3. Click on the Financial tab.
  4. Enter the acquisition cost (e.g., purchase price, value, etc.).
  5. Select the Acquisition Date.
  6. Click Save to save the acquisition cost.

Step 4: Update the asset's depreciation schedule (if applicable)

  1. Go to Assets > Asset Management > Assets.
  2. Find the new asset you created and click on it.
  3. Click on the Depreciation tab.
  4. Update the depreciation schedule as needed (e.g., select the depreciation method, enter the depreciation period, etc.).
  5. Click Save to save the depreciation schedule.

Step 5: Review and verify the asset's information

  1. Review the asset's information to ensure it is accurate and complete.
  2. Verify that the asset is assigned to the correct department or location.
  3. Verify that the acquisition cost and depreciation schedule are correct.

That's it! You have successfully acquired a new asset using Asset Management in Sage 300.

Remember to regularly review and update your asset information to ensure accurate tracking and reporting.