Adding Costs to a Fixed Asset Manually

Methods for adding costs to depreciable assets

Costs can be manually added to a depreciable asset without using an expense invoice by completing the following steps. NOTE: Unless the optional Depreciation module is installed, no depreciation options will appear in the EBMS menu.

Go to Financials > Depreciation > Depreciable Assets and select an asset record to open.
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Click on the New button in the Costs section to open a wizard function:

• Enter a Description of the additional cost.
• Enter the Purchase Date for the additional cost.
• Enter the additional Cost amount.

Click Next to proceed to a transaction page:

Select the Ignore Transactions only if all the depreciation values have already been entered into the balance sheet of the general ledger; otherwise select the Create a transaction for the cost of this asset using the accounts entered below option to create a general ledger transaction for this asset.

Complete the following steps if the Create a transaction… option is selected:

• Enter the Transaction Date or purchase date.

• Select the offsetting general ledger account that will be credited. Enter an expense account that to post the cost amount.

• Click the Finish button complete.

Under the Costs section of the asset record's General tab, the Remove button can be used to delete additional costs.

The Add and Remove buttons will be disabled if the asset is already being depreciated. Additional costs cannot be added after an asset has already been partially or completely depreciated. Create an additional asset if costs cannot be added. See the Entering Existing Fixed Assets for more details in adding assets manually.