How to Add a Fixed Asset through the Bill & Confirm the Draft Asset Created

In order to add a fixed asset to Odoo, you need to first create a bill to purchase this asset. Your Balance Sheet cost will be updated based on the bill you created

To create a Bill;

1.   Go to the Accounting Module > Vendors > Bills 

 
2.  Click Create

 


3.  After that, you will be asked to fill out the following fields:
Vendor - Enter the vendor name.
      *  Bill Reference - You can enter the Bill number or any ref.
      *  Auto-Complete - if you created a Purchase order for this purchase, you can auto-complete the Purchase              order here by adding the PO number.
      *  Bill date - Enter the bill date here.
      *  Original Invoice Date:  Original date of the invoice
      *  Due Date: Enter the due date for the bill
      *  Accounting Date -Enter the same date you entered for the bill date.
      *  Payment Reference - Any relevant reference on payments
      *  Recipient bank: Vendor's bank
      *  Payment Terms : Select the terms for the payment
      *  Quantity - Enter the Quantity
      *  Journal & Currency - Will be picked automatically
      *  Branch - Relevant branch of the bill created
      *  Add a line 
 1. Label - Enter the Description you want to use for this specific asset purchase
2. Account - enter the fixed asset account which will be used for this specific asset. For this illustration, we will be        using Office Equipment.
3. Quantity - Enter the Quantity
4. Price - You will enter the amount or purchase price here.
5. Taxes - Select the correct Tax Code (eg.15% GST on expenses).

 
* After filling out the fields, click on Confirm. 

 
4.  As soon as you click on Confirm, the bill will be updated. Click on the Asset(s) located at the top right of the bill. 

 
5. Then you will be directed to this page. Here you will see the draft asset that has been created through the bill. 

 
6. You can Edit to assign necessary accounts and asset models if applicable.
       * Asset Name - You can edit the asset name.
        *Asset Model - You can assign an asset model from the list above the asset name. Once you select the asset                                        model, the Depreciation Method and Accounting fields will automatically be updated. But in                                        case there's no available asset model created applicable for this asset, we suggest that you                                        create an asset model first. But in case you want to set the Mapping and depreciation                                                    methods here, you can do so by adding the appropriate accounts.
        * Review all the fields and click Confirm. 

 
7. Once you have confirm the asset, Odoo will create a depreciation board which will show you the depreciations



Depreciation Board - once you clicked on this button or confirm the bill you will be able to see the Depreciation schedule. The depreciation schedule consists of the draft depreciation entries automatically created for this asset. These draft entries will automatically be posted on the date specified. Until that date, these entries will remain in draft status.

You can review the Depreciation Board. 

8. Click Confirm

As soon as you click on Confirm, You will have a button "Modify depreciation", here you will have the options to Sell or Dispose, Re-evaluate, Pause Depreciation and you will have a button "Save Model" in case you set new depreciation and account mapping rules when you created this asset. 

*  Dispose - you will be using this button if you want to dispose an asset. A separate discussion will be                                   provided on the succeeding topics.                                                                                                                                    * Sell -  you will be using this button if you want to sell an asset. separate discussion will be provided on the                           succeeding topics. 
*  Re-evaluate - you can click this button if you want to re-evaluate/ to Modify the depreciation
*  Pause Depreciation - this will be used if you want to pause the depreciation.
*  Save As a Model - In case a model is not yet available at the time you are creating this asset, you can set the Depreciation Method and other details related to the Asset Model. If you created an asset through this process, you will be given this option to save the Asset Model which will be available for use when you create another asset of the same kind. 


Now you have created an asset from a Bill.