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Create Put in use Transactions

In some countries, it is necessary to create a Nominal Ledger Transaction when an Asset is put into use. You can do this for Assets in batches using this function, and for single Assets using the 'Create Put in use Transaction' function on the Operations menu of the Asset screen. This function finds all Assets within the selected range that do not have a Start Date 1 and creates a single Transaction including them all.

Selecting the 'Create Put in use Transactions' function brings up the 'Specify Put in use Transactions' window:

Category
Paste Special    Asset Categories setting, Assets module
If the function is to consider Assets belonging to a particular Category, specify that Category here.

Inventory No.
Paste Special    Asset, Assets module
Range Reporting    Numeric
If the function is to consider a specific Asset (or range of Assets), enter its Inventory Number here.

When you run the function from the Operations menu of the Asset screen, the Inventory Number of the Asset being viewed will be placed here automatically.

Department
Paste Special    Departments setting, Assets module
If you want to apply the function to Assets belonging to a particular Department (specified on the 'Owner' card of the Asset screen), specify that Department here.

Transaction Date
Paste Special    Choose date
Enter a date to be used as the Transaction Date in the Transaction created by the function. If you do not enter a date, the current date will be used.

Trans. Comment
Any comment that you enter here will be copied to the Text field in the Transaction created by the function. It will therefore be shown in the 'Transactions: Browse' window.

Capital Inv. A/C
Paste Special    Account register, Nominal Ledger/System module
Specify here the Account to be credited with the Purchase Value of each Asset in the Transaction created by this function. If you leave this field blank, the Capital Investment Account in the Account Usage Assets setting will be used.
Click [Run] to run the function. It may take a few moments, depending on the number of Assets to be included in the Transaction. When it has finished, you will be returned to the 'Maintenance' list window.

A sample Transaction created by this function is shown below. The Purchase Value of the Asset is debited to the Asset Account specified in the Asset Class and credited to the Capital Investment Account specified in the 'Specify Create Put in use Transactions' window or in the Account Usage Assets setting. The Objects on the debit side come from the Asset and the Asset Class (Obj. and Asset 1 Obj fields).

A single credit posting is made, irrespective of the number of Assets to be included. Separate debit postings are made for each Object combination.

The Transaction Date will be copied to both Start Date fields on the 'Models' card of each Asset. Once an Asset has a Start Date 1, this will stop further Put In Use Transactions being created for that Asset, and depreciation calculations can begin.

If a particular Asset is not included in the Transaction, or no Transaction is created, the probable causes are:

  1. The Asset already has a Start Date 1 or does not have a Purchase Value. Note: if there is no Purchase Value, no Transaction will be created, but the Transaction Date will be written to the Start Date 1 field. Remove this date when returning to the Asset to enter a Purchase Value.

  2. The Asset does not belong to an Asset Category, the Category does not belong to an Asset Class or the Asset Class has no Asset 1 Account.

  3. You did not specify a Capital Investment Account in the 'Specify Create Put in use Transactions' window, and you have not specified a Capital Investment Account in the Account Usage Assets setting.

  4. There is no valid record in the Number Series - Transactions setting (in the Nominal Ledger). This might be a fault in the setting itself, or it might be because the default Transaction Number on the 'Ser Nos' card of the current user's Person record or in the Number Series Defaults setting (in the System module) is not in a valid Number Series. This problem will usually occur at the beginning of a new year. If a change is made to the 'Ser Nos' card of the Person record, you will need to quit Hansa and restart for it to take effect.