Conversion of a Purchase: Implementation Checklist

The following sections provide details you can use to ensure that the system is configured properly for converting a purchase to a fixed asset, and to understand (and change, if needed) the settings that affect the processing workflow.

Implementation Checklist

We recommend that before you initially convert a purchase, you make sure the needed features have been enabled, settings have been specified, and entities have been created, as summarized in the following checklist.

Other Settings That Affect the Workflow

The processing of fixed assets causes batches to be produced by the system on the Journal Transactions (GL301000) form. A user can also manually create batches on this form. The settings on the General Ledger Preferences (GL102000) form can affect the processing workflow of each batch as follows:

• If the Hold Batches on Entry check box is selected, a batch is saved with the On Hold status by default. If the batch is on hold, the user should click Remove Hold on the form toolbar of the Journal Transactions form for the batch so that they can process it further. If the check box is cleared, the batch is saved with the Balanced status.
• If the Validate Batch Control Totals on Entry check box is selected, the user has to enter the control total of the batch before you save the batch on the Journal Transactions form. If this check box is cleared and the status of the batch is Balanced, the system automatically validates the batch.
• If the Automatically Post on Release check box is selected, the system posts batches on release. If this check box is cleared, the user has to post the batches after release.

AP bills are typically created on the Bills and Adjustments (AP301000) form to record the purchase of items that will be converted to fixed assets. The workflow of processing AP bills can be affected based on the settings on the Accounts Payable Preferences (AP101000) form as follows:

• You select the Hold Documents on Entry check box in the Data Entry Settings section if you want the created AP bills to be assigned the On Hold status. You clear the check box to cause these bills to be assigned the Balanced status.
• You clear the Require Vendor Reference check box in the Data Entry Settings section if you want users to avoid entering a vendor reference number in the Vendor Ref. box on the Bills and Adjustments form. If your company requires this data to be entered, you select the check box.
• If you want AP bills to be automatically posted to the general ledger once they are entered, make sure that the Automatically Post on Release check box is selected in the Posting Settings section. Otherwise, you should clear this check box.

The following settings on the Fixed Assets Preferences (FA101000) form can affect the processing workflow as follows:

• If the Automatically Release Acquisition Transactions check box is selected, the acquisition transactions are posted automatically. If this check box is cleared, acquisition transactions are created with the On Hold status. The user will have to release these transactions manually on the Release FA Transactions (FA503000) form.
• If the Update GL check box is selected, transactions associated with fixed assets are posted to the general ledger and affect the GL balances. If this check box is cleared, transactions associated with fixed assets are not posted to the general ledger.
• If the Automatically Post on Release check box is selected, transactions associated with fixed assets are automatically posted to the general ledger when they are released. This check box is selected by default.

Validation of Configuration

To make sure that all configuration has been performed correctly, we recommend that in your system, you convert purchases to fixed assets by performing instructions similar to those described in Conversion of a Purchase: To Convert a Purchase to an Asset and Conversion of a Purchase: To Convert a Purchase to Multiple Assets.