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:
- Ensure you have the Asset Management module activated in your Sage 300 system.
- Make sure you have the necessary permissions and access to the Asset Management module.
Step 1: Create a new asset
- Go to Assets > Asset Management > Assets.
- Click on New to create a new asset.
- 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.)
- Click Save to save the new asset.
Step 2: Assign the asset to a department or location
- Go to Assets > Asset Management > Assets.
- Find the new asset you created and click on it.
- Click on the Assignments tab.
- Select the department or location where the asset will be used.
- Click Save to save the assignment.
Step 3: Record the acquisition cost
- Go to Assets > Asset Management > Assets.
- Find the new asset you created and click on it.
- Click on the Financial tab.
- Enter the acquisition cost (e.g., purchase price, value, etc.).
- Select the Acquisition Date.
- Click Save to save the acquisition cost.
Step 4: Update the asset's depreciation schedule (if applicable)
- Go to Assets > Asset Management > Assets.
- Find the new asset you created and click on it.
- Click on the Depreciation tab.
- Update the depreciation schedule as needed (e.g., select the depreciation method, enter the depreciation period, etc.).
- Click Save to save the depreciation schedule.
Step 5: Review and verify the asset's information
- Review the asset's information to ensure it is accurate and complete.
- Verify that the asset is assigned to the correct department or location.
- 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.