Fixed Asset Management to Accounting Journals Overview

  • This integration was deprecated in the Spring 2023 release and will be removed in a future release. If you are using this integration, we recommend transitioning to the new integration by enabling the Accounting Integration feature in the Feature Console. For more information, see Enabling Accounting Integration.
  • Accounting Integration does not support custom field mappings provided by Foundations Messaging. If you enable the Accounting Integration feature, Fixed Asset Management will stop using the existing custom mappings.

The Fixed Asset Management to Accounting Journals Integration uses the messaging functionality provided by Foundations.

Provided that Foundations has been configured correctly, messages containing asset information are sent automatically from Fixed Asset Management upon asset approval (acquisition), depreciation, and disposal. Accounting receives these messages and automatically creates journals to record the resulting financial transactions.

Each message sent from Fixed Asset Management includes the following fields and any additional details required to create the accounting journal:

  • Fixed Asset ID
  • Fixed Asset Name
  • Asset Tag Number
  • Asset Description
  • Department ID
  • Department Name
  • Journal Type

You can view the messages that Fixed Asset Management sends, or publishes, on the Message Types tab of the Foundations Administration application.

Accounting subscribes to these messages so that it can receive the information and create journals to record the acquisition, depreciation, and disposal values on the balance sheet. These journals are created with the status "In Progress" so that they can be reviewed prior to posting. Journals are created with one of the following types:

  • Fixed Asset Acquisition
  • Fixed Asset Depreciation
  • Fixed Asset Disposal

For more information, see Messaging between Fixed Asset Management and Accounting.