Purchases

Use this form to enter asset purchase transactions. You can also use the AP Invoice Entry form to generate an Fixed Asset Purchase transaction if the Fixed Assets Module Control option Allow AP Invoices is selected.

If batches are in use, enter batch header information before accessing this form. If batches are not in use, Greentree Desktop generates a batch number for the transactions entered.

Options Reference

Each option and field on the form is described below. Mandatory options and fields are highlighted in red.

Reference

Enter a unique reference, up to 20 characters, to represent the purchase transaction. If the purchase is created on the PO Purchase Order Entry or AP Invoice Entry forms, the reference used on the transaction is allocated a sub number (if required) to create a unique reference number.

Date

This is the transaction document date. It defaults to today's date but you can change it.

Asset

Select the asset being purchased. This must have been set up previously on the FA Asset Maintenance form. You can enter a code or subcode using a forward slash (/) as a separator. You can also use the asset description to select the asset.

Install Date

The install date is taken from the opening balances install date. If this is empty, the install date defaults to the date of the purchase transaction and is read only.

Current Period End

This is provided for information only and does not reflect the period that this transaction is being posted to.

Quantity

Enter the quantity being purchased. The default value is 1 but you can change it if you are purchasing more than one asset. For example, if the selected asset code represents a group of assets and the purchase price relates to the group purchase.

Purchase Price Tax/Accounting

Enter the net cost of the asset to be recorded for tax purposes. You can enter a zero-value purchase (for example, a donation), which displays in the Additions Summary report.

If you are maintaining separate values for tax and accounting purposes, you can enter a different purchase price in the Accounting Purchase Price field. Otherwise, this defaults to the tax purchase price. If the purchase price for tax and accounting are different, the difference displays below.

Offset Depreciation

Select this option if the asset being purchased is replacing an existing asset, and to offset any depreciation recovered from the disposed asset with the replacement asset.

Notes: This is only applies to Australian companies. Selecting this option does not update the general ledger when the purchase is processed.

Addition

This flag uses the Purchase Type flag on the Fixed Assets Module Control form.

If you:

Select this option, the purchase is depreciated from the date of the purchase.
Deselect this option, the purchase is depreciated from the installation date.

Notes

Enter notes about the purchase. This is for reference only.

Narration

This is for reference only. You can enter a narration to add more detail about the purchase. This narration displays in the transaction detail viewed using the Transactions tab on the Asset Maintenance form.

Balances

This is populated once an asset is selected and shows key balances and dates for the asset. When entering new transactions the balances will be the closing balances (including futures) regardless of the transaction date entered. The date of the last transaction also displays.

If recalling an existing transaction, the balances displays as they were at the date of the transaction to show the balances that the transaction was calculated against.

Click the Save icon or press F2 to save and create the purchase transaction.

Purchase transactions can be viewed for each asset on the Transactions tab on the Asset Maintenance form. You can view the original transaction by accessing this form and selecting the transaction reference. You can edit or delete a transaction as long as the period the transaction was entered in is still the current period, otherwise the transaction will be read-only and cannot be changed.

The Additions Summary report details all asset purchase transactions.