DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

How to record purchase price of an asset


#1

Guys am still new to this forum and this software version too,i have tried to go through the whole thing and picked fluency in some aspects but failed to add the asset price.i can add any fixed asset but failed to add the fixed asset price


#2

See the guides http://www.manager.io/guides/fixed-assets/purchasing-fixed-asset/


#3

I am trying to create new assets and can not follow the instructions in the link above. After I have created the asset and the Purchase Cost is -, where do I click next to get to the Part where I get to choose what Account the asset belongs to?

The instructions seem to miss a step. Thanks.


#4

@mat27777777, this is how I done it.

To record or create a price / purchase cost.

  1. Supplier Invoices -> New Purchase Invoice
  2. Fill-up every details (Date, Supplier, Invoice Number).
  3. Account -> Fixed Assets then another drop down will appear. Here you can choose which category it is (From ‘Fixed Assets’ you just created).
  4. At ‘Description’ you can write your asset / item.
  5. Just key-in how much you bought the item.
  6. Finally just ‘Create’, go back to your ‘Fixed Assets’ you will notice your assets has their Purchase Cost / Price.

#5

@wazhanudin is correct. I just want to point out, that is just one way of recording a purchase. Another way is to record cash payment for fixed asset directly under Bank accounts, Cash accounts or Expense claims tabs.

And also there is a recording a purchase by journal entry if purchase of asset has been funded by a loan.