Can't create a bill for an asset

mvanrmvanr Member Posts: 6

When creating a bill, the "expense category" drop down list does not include the fixed assets (i.e.the accounts in the "plant & equipment" section of the chart of accounts).

This is essential. It's needed, for example, where some equipment is purchased and paid for in multiple installments.

Comments

  • AlexiaAlexia Administrator Posts: 3,314 admin

    Hi, @mvanr,

    There's an issue with asset account created under the "Plant, Property and Equipment" account type where they don't appear in a few places around Wave where they should be showing up. We're working towards a resolution, but I don't have a timeline to offer just yet.

    If there is no transaction under that account just yet, go to the Chart of Accounts page, find that account, click on the pencil icon next to it and archive it. It'll disappear from your chart. Then, recreate it using the "Other long-term assets" account type. Once it's created, click on the pencil icon and change its type to "Plant, Property and Equipment". It should appear on your bills then.

    Let me know if you already have a few transactions in that account. I'll have another workflow to offer. It's a bit more work, however, so I'm hoping that won't be necessary.

  • mvanrmvanr Member Posts: 6

    Thanks Alexia, I'll bear this in mind for plant & equipment in future...

  • mhammadlatifACCAmhammadlatifACCA Member Posts: 29
    @mvanr and @Alexia there is a better way of creating bills for fixed assets and it doesn't even require creating fixed assets codes other long term assets category.

    I am doing this the following way:

    1. Create a sequentially numbered vendor (Fixed Assets vendors have their own series... Let's say.. 1000 series "1001 - Abc furniture Company"
    2. Create sequentially numbered item for fixed asset again with its own series @mvanr you can add a fixed assets account to the item. If your account is still not appearing, try creating it from the add product button on bill creation Window.
    3. You can create multiple fixed assets line items from a single vendor.
    4. You can also record a payment against the bill from here.

    Let me know if this works for you too.
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