NetAsset - Create Multiple Assets from Single Transaction

Purpose: This article explains how NetAsset handles asset record creation when transaction lines need to be split between multiple assets, and outlines three options: manually splitting transaction amounts, splitting assets after creation, or using the Shared Transactions tool for automation.

Overview

NetAsset cannot split transaction lines between asset records during asset record creation. The system supports either 1 transaction line to 1 asset record or many transaction lines to 1 asset record, but it does not support 1 transaction line to multiple asset records. In this scenario, you have 3 options:

Option 1

Your first option is to split the amount directly on the transaction. For example, let's say you have 2 bills, each $10 and you would like to break these up into 2 different assets one worth 40%, the other 60%.

Note: Once transactions are assigned to the Fixed Asset Clearing Account, they must be processed by either converting them into assets within NetAsset, expensing them, or removing them. This article provides guidance on these processes. 

If you take the first $10 and edit the bill to have two lines -- one line with $4 and one line with $6 -- then these lines will flow into the create assets queue as separate transaction lines. For guidance on how to ensure these lines flow to the Create Assets queue, review this article.

Repeat this same process for your second $10 bill.

Finally, select the two $4 lines that represent 40% and select Create Single Asset. Do the same with the two $6 lines that represent 60% and click Create Single Asset.

Option 2

If you don't want to edit the bills and journal entries to breakout the amounts directly on the transactions, then you will need to create a single asset from the transactions and then split the asset after it is created. If you choose this option, the asset that gets split will have a status of "Split" and will be excluded from reporting. It won't duplicate any amounts. Refer to this article with further instructions on how to split an asset.

Option 3

If none of these options are satisfactory, the only other option is to purchase our Shared Transactions tool which would automate the first option for you--it can breakout the transaction lines based on previously determined weights and then you can use those when you create the assets.

If you have any questions, contact support@netgain.tech.

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