Question

What is the ideal way to connect a rental asset to an object?

  • 19 November 2021
  • 7 replies
  • 74 views

Userlevel 4
Badge +6

Hi,

 

Could you please explain the steps involved in connecting a rental asset to an object?

 

Thanks in advance!

Best Regards,

Yoshini


7 replies

Userlevel 5
Badge +8

Here’s a basic Test plan: 

Basic data info: 

Posting control:  make M116 is setup for account and asset
Supplier for purchase part:  supplier ownership set to:  company rental asset

1) Purchase group -- create a purchase group 
2) object group - create an object group--on automatic creation of objects tab - do a new and add your purchase group and  -  on depreciation methods and books -- add a depreciation method
3) create an inventory part that is purchased - on purchase part add your purchase group.  
4) supplier for purchase part -- create a record for your part -- make sure ownership is set to company rental asset
5) purchase order -- enter in a new PO for your part 
6) register arrival -- 
7) purchase transaction history -- query for your PO to review
8) transfer purchase transactions
9) update voucher 
10) object -- query the object that was created-- RMB and set to active
 

Userlevel 4
Badge +4

Hi @Yoshini Silva 

 

You can follow the below steps to set Automatic creation of fixed assets when purchase order is released and as well as how the FA object being created and connected to the Rental Asset.

 

1.Create a purchase order and add a line for an Inventory purchase part which has been connected to a purchase group.
2. Set the ownership of the purchase order line to Company Rental Asset.
3. Observe that the Create FA Object check box gets selected and optionally Crate FA Object per Unit check box gets selected (depending on the value of the check box in the object group).
4. Release the Purchase order.
5. Go to Pre-Posting dialog box and you can observe automatically created fixed assets had been pre posted to purchase order line.
6. If Create FA Object per Unit check box had been selected it creates objects per quantity. If the quantity exceeds one, then distributed pre posting distributed pre posting will be used.
7. Repeat all the above steps for non-inventory purchase parts and no parts.
8. Receive the above created purchase order to inventory.
9. There will be purchase transactions history record created along with the Inventory transactions history (for inventory parts) which carries fixed asset acquisition cost. The purchasing cost had been born by the asset acquisition account and the postings had been pre posted to the fixed asset object.
10. If you receive serialized part, go to Part Serial / Company Rental Asset tab, you can see the connected fixed asset object.
11. Similarly, go to the fixed asset object/Rental Asset tab, you can see the connected serials to the object.
12. If you wish to disconnect objects from serial part, go to Part Serial / Company Rental Asset tab, RMB, Disconnect Rental Asset.
13. Similarly, you can connect fixed assets to part serial records as well.
 

Best Regards,

Peshala

Userlevel 4
Badge +6

Hi @Nancy Fink & @Peshala Gamage,

 

Thanks a lot for the responses. :relaxed:

As I observed, the Object id can be created but not the rental asset. Please refer to the screen prints below. Could you kindly refer to the following screen prints and let me know whether I have missed any step?

1.The object ID has been created along with the PO.

 

2.The posting type M116 has been set up.

 

3.Purchase transaction history

4.The voucher has been updated to GL

 

5.The object id has been set to “Active”.

 

6.However, a rental asset has not been created.

 

 

 

Thanks in advance!

Best Regards,

Yoshini

Userlevel 5
Badge +8

Is your PO line ownership set to company rental asset?

 

Userlevel 4
Badge +6

Hi @Nancy Fink,

Yes please. :relaxed:

Please refer to the screen print below.

 

 

 

Best Regards,

Yoshini

Userlevel 5
Badge +8

@Yoshini Silva I just ran this through in our CORE product and I am seeing the same as you.   Hopefully someone else has an answer as to why this is not showing -- else you could log a support case and we can ask R&D.  

Userlevel 4
Badge +6

 @Nancy Fink Thanks a lot for your help. :relaxed:

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