New Purchase
A Purchase means to take possession of a given asset, property, item or right by paying a predetermined amount of money for the transaction to be completed successfully. In other words, its an exchange of money for a particular good or service.To create a new Purchase, go to Fixed Assets > New > Purchase.
Once we created the Fixed asset, we need to purchase it. After that you can start proceed with the depreciation process. Remember one thing here. the Purchase of fixed asset should be lesser than the depreciation start date. So than only it can be processed with it properly.