The Fixed Asset Purchase Invoice records buying an asset from a supplier. Unlike an ordinary purchase it updates the fixed asset ledger, establishes the asset's initial book value, and sets the starting point for every future depreciation charge against it.
Where to find it
Go to Fixed Assets > New > Purchase Invoice.
Header Information
| Field | Description |
|---|
| Supplier | The vendor supplying the asset. Choosing them loads their currency, tax group and credit terms. |
| Invoice Date | The transaction date. It sets the fiscal period the acquisition falls in. |
| Due Date | Calculated from the supplier's payment terms. |
| Reference | Your internal sequence number for this document. |
| Supplier's Reference | The vendor's own invoice number — essential for audit and bank reconciliation. |
| Dimension 1 & 2 | Assigns the cost to a department, project or cost centre. |
The invoice date drives depreciation. An asset dated into the wrong period starts depreciating from the wrong month, and correcting it later means reversing every charge posted in between.
Asset Selection and Pricing
| Field | Description |
|---|
| Fixed Asset Item | The asset record created in New Fixed Asset. |
| Quantity | Units acquired. |
| Price (Excl Tax) | Unit price before tax. This becomes the Initial Value for depreciation. |
| Item Tax Type | The tax rate. Defaults from the item and can be adjusted for this purchase. |
| Discount Percent | Any supplier discount on the line. |
| Required Delivery Date | When the asset is expected on site. |
| Asset Location | Where it will physically sit. |
Advanced Tracking
| Field | Description |
|---|
| Batch No | The manufacturer's batch or lot number — essential for warranty and recall tracking. |
| Expiry Date | When the warranty or operational life ends. |
| Mapped Units & Qty | For an asset bought in one unit but tracked in another — a "set" of computers tracked individually. |
| Custom Fields | Business-specific fields such as engine number, licence key or insurance ID. |
Payment and Totals
| Field | Description |
|---|
| Cash Account | The bank or cash account used, where the purchase is paid immediately. |
| Transfer Type | Cash, cheque or bank transfer. |
| Freight Cost | Shipping and handling. Often capitalised into the asset's value. |
| Tax Overrides | Manual adjustment to match the physical supplier invoice where rounding differs. |
| Comments | Internal notes on the purchase or the asset's condition on arrival. |
Action Buttons
| Button | What it does |
|---|
| Place Invoice / Process Invoice | Finalises the transaction, updates the ledger and activates the asset. |
| Draft | Saves progress without posting to the ledger. |
| Cancel | Discards the entry. |
GL Accounts & Accounting Integration
These accounts are normally pre-configured from the asset category or the supplier.
| Account | Effect |
|---|
| Asset / Inventory Account | Debited with the acquisition cost, increasing your holdings on the balance sheet. |
| Payable (Creditor) Account | Credited — the liability to the supplier. |
| Tax Account (Input GST/VAT) | The calculated tax, posted to input tax credit for reclaim. |
| Freight / Carriage Inward Account | Either capitalised into the asset's value or posted as an expense, depending on your accounting policy. |
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