Using Fixed Assets with Quantities

• 08/10/2024
• 4 minutes to read

This article describes the use of quantities in fixed assets (FAs), which simplifies the creation and management of multiple fixed assets of the same type.

Creating a fixed asset with a quantity

Creating a fixed asset with a quantity from scratch

To create a fixed asset with a quantity from scratch:

1. Choose the icon, enter Fixed Assets, and then choose the related link.

2. On the Fixed Assets page, select + New.

3. On the Fixed Asset Card, under the General FastTab, enter a No., Description, and FA Subclass Code.

4. On the Depreciation Book FastTab, populate the Depreciation Starting Date and No. of Depreciation Years fields. Note that the value of the Depreciation Ending Date field is calculated automatically.

5. On the Continia Finance FastTab, enable the Maintain quantity setting.

Your fixed asset is now ready to be acquired.

Creating a fixed asset with a quantity from a template

Before you can create a fixed asset with a quantity from a template, you need to create a fixed asset template.

To create a fixed asset with a quantity from a template:

1. Choose the icon, enter Fixed Assets, and then choose the related link.

2. Select Continia Finance > Create FA from Template.

3. On the Create FA from Template page, select a value for Fixed Asset Template Code.

   Note

   This value must have a checkmark under the Maintain quantity column. Otherwise, you need to open the related fixed asset template and enable the Maintain quantity setting.

4. Populate the other fields according to your needs, such as Serial No. / Dimensions.

5. When you're done configuring, select Create Fixed Asset.

6. On the Fixed Assets page, select your new fixed asset.

7. Check the fields that contain values and, if needed, populate other necessary fields.

Your fixed asset is now ready to be acquired.

Using a fixed asset with a quantity

You can use fixed assets with a quantity when creating purchase invoices or partially disposing of assets, for example. This article covers the former.

Using a fixed asset with a quantity in purchase invoices

To use a fixed asset with a quantity in a purchase invoice:

1. Choose the icon, enter Purchase Invoices, and then choose the related link.

2. On the Purchase Invoices page, select + New.

3. On the Purchase Invoice page, under the General FastTab, enter a No. or Vendor Name.

4. Under the Lines section, select Fixed Asset under Type.

   Tip

   It's also possible to create a fixed asset from a template directly from a purchase invoice. After selecting Fixed Asset under Type, select Fixed Assets > Create FA from Template and follow the steps described in Creating a fixed asset with a quantity from a template.

5. Select a value under No., and populate the Quantity and Direct Unit Cost Excl. VAT fields.

Your fixed asset is now ready to be posted.

See also

Using Fixed Assets Templates
Applying Partial Disposal of Assets