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Master Data Creation
Create and manage all the data required for your transactions and activities.
Fixed Assets
Fixed assets are referenced as objects in IFS Cloud. The company follows them along their useful life in order to manage: acquisition, adjustments, depreciation, scrap, sales.
Creating a Fixed Asset
You need to create a fixed asset as an object.

Master Data Creation
Create and manage all the data required for your transactions and activities.
- Customer
  Create and update customer(s).
- Supplier
  Create and update supplier(s).
- Parts
  Create and manage parts.
- Fixed Assets
  Fixed assets are referenced as objects in IFS Cloud. The company follows them along their useful life in order to manage: acquisition, adjustments, depreciation, scrap, sales.
  - Creating a Fixed Asset
    You need to create a fixed asset as an object.
  - Creating a Purchase Order Using a Purchase Group
    If you are not used to accounting tasks and need to do a purchase order for an item, you need to use what is called a purchase group, that correspond to the type of item that you need to order.
  - Acquiring a Fixed Asset with the Manual Supplier Invoice
    Create a fixed asset after a purchase order and from an invoice received from a supplier.
  - Activating the Fixed Asset
    After the acquisition of a fixed asset, you need to activate it.
  - Scrapping a Fixed Asset from a Company
    Remove a fixed asset from the active list of the company by scrapping it, for reasons such as the object being broken, obsolete,…
  - Consulting Fixed Asset Report
    Use this report to have an overview of your fixed assets and their characteristics.

Creating a Fixed Asset

You need to create a fixed asset as an object.

Go to Financials > Fixed Assets > Fixed Asset Object.
Click New + to create a new object.

Important:
Do not fill the field Object, it follows automatic Naming Conventions.
In the tab General, you need to fill the field Object Group. An object group is a type of fixed asset, so make sure that it corresponds to the type of fixed asset you are creating.
In the Pre-Posting tab, you need to:
1. Check if the Account is correctly filled.
2. Link the fixed asset to a Dept, a Project, a Prod Line and a Sub-Dept.
In the Inventory tab, you need to define:
1. The Site.
2. The Object Physical Location.
Click Save.
The Object and the Description fields are automatically filled.
In the header, click Investment.

The Object status moves to Investment.
In the tab Books:
1. Check and adjust the information if necessary.
2. Adjust the Estimated Life to match with the life duration/depreciation of the asset and fit with legal requirements in your country.
Important:
If you do not know the duration that you have to enter, contact your accountant responsible, or external accountant support, or Airmar accounting team, depending on your situation.