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Receive

xAssets Fixed Asset Management User Guide
Section 2 – Menus

Receive

The Receive menu handles the receipt of assets into the register, covering goods-in processing and direct asset creation. Use this menu when assets arrive at your organisation and need to be added to the fixed asset register.

Prerequisites

  • You must be in the Fixed Asset Management profile (see Fixed Asset Management Profile).
  • To create asset records, you need appropriate user group permissions for the Asset table.

Receive menu showing options for receiving assets including entering newly received assets without a PO

Receiving Assets Without a Purchase Order

Use Enter Newly Received Assets without a PO Entry to create an asset record directly, without linking it to a Purchase Order. This is the simplest way to add an asset to the register and is useful for:

  • Donated assets — Items received as gifts or donations that were never purchased
  • Transfers from other systems — Assets migrated from a previous asset management system
  • Retrospective registration — Adding assets that were already in use but not yet in the register
  • Low-value items — Assets that do not go through the formal procurement process

Steps to Receive an Asset Directly

  1. Select Receive > Enter Newly Received Assets without a PO Entry from the menu.
  2. Complete the asset creation form with at minimum:
    • Description — A clear name for the asset
    • Category — The asset type (this determines default depreciation rules)
    • Purchase Amount — The acquisition cost
    • Purchase Date — The date the asset was acquired (this affects depreciation start)
  3. Assign a location, custodian, and cost centre as needed.
  4. Click Save to create the asset record.

Tip: The purchase date is financially significant. Depreciation calculations use this date (or a configured "in-service" date) to determine when charges begin. Setting the wrong date will cause incorrect depreciation amounts.

Receiving Assets Against a Purchase Order

If assets were ordered through the procurement workflow (see Procure), you receive them against the existing PO:

  1. Navigate to the Purchase Order via Procure > Purchase Orders.
  2. Open the PO and use the goods receipt function to mark items as received.
  3. The system creates asset records automatically, inheriting financial data from the PO line items.

This approach is preferred for formal procurements because:

  • The purchase amount is already recorded on the PO
  • Financial transactions are created automatically in all books
  • There is a complete audit trail from requisition through to receipt

Financial Impact of Receiving Assets

When an asset is created (whether directly or via PO receipt), the following financial records are established:

  1. Purchase transaction — A transaction recording the acquisition cost is created in each book.
  2. Depreciation setup — The asset inherits depreciation rules from its category-book combination (see Assigning Depreciation Types to Categories).
  3. Valuation baseline — The asset's original value, net book value, and accumulated depreciation are initialised.

Warning: If an asset's category does not have a depreciation type assigned for a given book, the asset will not depreciate in that book. Review the Depreciation Setup after adding assets in new categories.