The quick answer
Review the acquisition’s FAM proposal before selecting Generate Assets. After processing, open the resulting asset and match its Parent Transaction, cost and depreciation defaults to the reviewed purchase.
The screenshots show a recorded demonstration with sample data. Use your own records and values when following the steps.
Before you start
Fixed Assets Management must be installed, with an eligible purchase posted to the configured asset account and a role that can propose and generate assets. Check the transaction date, subsidiary and any approval requirement. This example stops before depreciation posting.
01. Inspect the asset type
Open Fixed Assets → Setup → Asset Types and view Lab Equipment. Check its asset account, US West subsidiary, Straight Line method, 48-month life and zero residual value. Return without changing the type.
02. Set the proposal scope
Open Fixed Assets → Transactions → Asset Proposal. Enter August 1–31, 2026, choose US West and add Lab Equipment. These dates concern the source transaction. Choose Propose New Assets.
03. Wait for the proposal process
On Process Status, Refresh until Propose New Assets is Completed. If it fails, inspect Details. Completion alone does not establish that the expected candidate exists.
04. Review the purchase-derived candidate
Open Manage Asset Proposal. Compare VB-68142, Precision Test Bench, US West, Lab Equipment, quantity 1 and cost 18,240.00 with the acquisition. Check Straight Line and 48 months before selecting the row.
05. Generate the reviewed asset
Select only the reviewed proposal and choose Generate Assets, confirming if prompted. Refresh Process Status until Generate Assets is Completed. Any queued depreciation schedule is separate from a posted depreciation journal.
06. Trace the asset to its purchase
Open Fixed Assets → Lists → Assets and locate Precision Test Bench. On FA-10482, inspect General: Parent Transaction VB-68142, acquisition date August 19, 2026, cost $18,240, quantity 1, Straight Line, 48 months and zero residual.
Check the result
- The selected candidate matches the intended source purchase.
- The generated asset has the expected cost, quantity and defaults.
- Parent Transaction points to VB-68142; depreciation has not been run here.
Common questions
Why use asset proposals instead of creating fixed assets immediately?
An asset proposal lets you review the source transaction, asset type, subsidiary, quantity, cost, and depreciation defaults before creating the fixed-asset record. Generate the asset only after confirming that the proposal represents the intended purchase.
Why did a posted vendor bill not appear in FAM asset proposals?
Check that FAM is installed, the bill line posts to the asset account mapped to the selected asset type, the transaction date falls within the proposal range, and the subsidiary and asset type match. Also check whether the transaction was already processed and whether the account requires approved transactions.
Does generating a fixed asset post the vendor bill again?
No. Generating the asset creates the FAM asset record from the proposal; it does not repost the original vendor bill. Depreciation schedule generation and depreciation journal posting are separate processes.
How do I find the purchase transaction behind a FAM asset?
Open the generated asset and review the Parent Transaction field on the General section. Confirm that it identifies the vendor bill, then compare its acquisition cost, quantity, subsidiary, depreciation method, useful life, and residual value with the reviewed proposal.