Purchase

The Purchase form is where you can enter information about the acquisition of the asset. For example, whether the asset is a bought, leased or hire purchase item. The Purchase Type field on the form also controls whether you can use the Finance form as that only applies to assets that are not ‘Company Owned’.

You can also drill-down to any purchase order image held in Purchase Order Processing.

Note: The details on this form are for memorandum purposes only. They are not used for processing asset transactions in Fixed Assets.

Box	Description
Purchase Type	You can choose from Company Owned, Finance Lease, HP/Lease Purchase, Operating Lease and Other. If you choose Company Owned you will not be able to enter finance details on the Finance form - where details of company finance and repayments are entered. Any other purchase types allow update of the Finance form.
Group Purchase	This box indicates whether the asset was purchased from a company belonging to the same corporate group. Group purchase assets must have their original Capital Cost and Depreciation To-date values transferred from the original asset record. For more information about entering these values, see the Opening Balances Help topic.
Capitalise	The option is automatically selected if the Purchase Type is set to Company Owned. A capitalised asset is one that is included on the company’s balance sheet. Tick this box to include the asset’s depreciation in the update of the Nominal Ledger. The depreciation is then posted to the relevant profit and loss and balance sheet accounts in the Nominal. Warning: If the Purchase Type is not set to Company Owned, the Capitalise box is not selected and the asset's depreciation is not posted to the Nominal Ledger.
Supplier Code & Name	The account number and name for the supplier involved. If you use the Purchase Ledger, you can select a supplier's account.
P.O. Reference & Date	If a purchase order was created for this asset, you can record the number here. If you use Purchase Order Processing, the PO number is verified and the date is automatically entered. Tip: If the original purchase order image has been kept in the Purchase Order Processing module, you can view it from the Action button on this form.
Reference	This is an optional box for the purchase details for the asset. It is disabled if the P.O. Reference box is updated.
Serial Number	This is an optional box for the asset's serial number if it has one. You could also use this box for another purpose.
Insurance Code & details	If the asset is insured you can record the insurance company here. When you enter a code, the insurance company details are updated for you using the details on the Insurance Company form. The details are included on the Insurance List report. Before you can add an insurance company code, it must be created in the Insurance Companies command.

You can use the Action menu to:

Action	Description
Document Management	If you use Document Management, you can capture documents related to the purchase of the asset. For more information about Document Management, see the What's Document Management Help topic.
Zoom	If the original purchase order image has been kept in the Purchase Order Processing module, you can view it here. This is disabled if you do not use Purchase Order Processing.