How to Receive the Single / Multiple Assets

Receiving Assets in System (Post-PO Delivery)

Once PO is issued & advance payment made, the vendor delivers the assets. Now you must record the receipt in the system.

✅ Two Ways to Receive Assets

1. Directly from PO screen

   • Go to Purchase Order → Edit (Approved PO).

   • You will see Next Action buttons.

   • Click Create Item Receipt (Green button).

2. From Item Receipt Module (if available)

   • Can also create a receipt directly and link to the PO.

✅ Process of Receiving

1. System Auto-Fills Details

   • Vendor, PO number, Asset, Qty, Price → auto-filled from PO.

2. Select Receipt Date

   • Example: Goods received on 20th August → change date if needed.

3. Check “Issue Stock”

   • Ensure Issue Stock = No (for assets, it should remain No).

4. Enter Received Quantity

   • If full delivery → receive all (e.g., 5 laptops).

   • If partial delivery → receive partial (e.g., 2 now, 3 later).

5. Click Add → Confirm Receipt

✅ What Happens in System After Receipt

1. Ledger Posting

   • Debit: Asset Account (e.g., 15300 – Office Equipment).

   • Credit: Purchase Expense Clearing Ledger (depending on setup).

2. Stock/Asset Movement

   • Assets are moved from “Pending (PO)” → “Available in Asset Register”.

3. Asset Creation (Automatic)

   • Each unit is treated as a unique asset.

   • Example:

     • Asset Master originally had “Lenovo Laptop” with Qty = 0.

     • After receipt of 2 units:

       • System auto-generates Asset Codes → e.g., FA-00439 & FA-00440.

✅ Asset Details Auto-Updated

• Purchase Cost pulled from PO.

• Depreciation Start Date = Month of purchase (e.g., August 2025).

• Useful Life & Depreciation Schedule auto-applied (e.g., 5 years → till July 2030).

? Result: Assets are now officially in the register with cost, code, and depreciation rules ready.