Fixed asset groups simplify the setup of fixed assets. Using groups also helps to classify information for reporting and make decisions about assets.

1. Click General ledger> Setup> Fixed assets> Fixed asset groups .

2. Press CTRL+N to create a fixed asset group with a unique identifier and name on the Overviewtab.

3. Click Value modelsand create the value models that will apply to all the fixed assets that are assigned to the fixed asset group.

   Note
   You must enter a value in the Fixed asset groupfield when you create a new fixed asset. Default values for other fields for the fixed asset are inherited from the fixed asset group, including the value model and its posting layers and depreciation profiles. You can view the posting layer of the value model that is created for fixed asset group in one of the check boxes on the Overviewtab.

4. Close the Fixed asset group/value modelform.

5. Click Depreciation booksand create the depreciation books that will apply to all fixed assets that are assigned to the fixed asset group.

6. On the Generaltab in the Fixed asset groupsform, you can change the value in the Fixed asset groupfield, if necessary.

7. Fill in the Number sequencefields, as necessary.

   • If you have set up number sequences for automatic numbering of fixed assets, select the Autonumber fixed assetscheck box, and enter the appropriate number sequence for the fixed asset group in the Number sequencefield.

   • If you have set up number sequences for automatic numbering of bar codes, select the Autonumber bar codescheck box, and enter the appropriate number sequence for bar codes in the Bar code number sequencefield.

Tip
If you are set up to post acquisition transactions from Accounts payable, you can set up a capitalization threshold so that assets are depreciated by default if they meet a minimum acquisition amount, and if they were acquired from an Accounts payable invoice. For more information, see About assets created from Accounts payable.