This article is part of the Fixed Assets Module training. Click here for more information on the Fixed Assets module.


The Fixed Assets section of the Accounting module allows users to track fixed assets in R365. Fixed assets can be any physical item that resides at a location long-term. 

For example, a location purchased a grill for $2000. The manager records the purchase of the grill by creating an Asset record. The Placed In Service Date is also recorded, and the asset is marked as Active. The manager accesses the deprecation form to retire the old grill after the new one is installed.

The Asset record contains all of the details about a fixed asset. This article reviews how to create an Asset as well as the different tabs and actions on the Asset record. 

If Fixed Assets is not available in the left navigation menu, please contact your R365 Sales Rep or R365 Support to enable the Fixed Assets.


Article Topics

Creating Assets

The Asset record contains key information and details about a fixed asset. Assets can be created using several methods. During initial setup of the Fixed Assets module, the following methods are recommended:

After initial setup, when new assets are acquired, they should be entered in the Potential Assets List.

For more information on how to create assets, refer to the Creating Assets article.

Asset Status and Actions

StatusProvides a quick view of the asset lifecycle and where the asset currently lives in that lifecycle.
SaveProvides the following options for saving the record:
  • Save - Saves the record and remains on the current page.
  • Save and New - Saves the record and opens a new, blank record.
  • Save and Close - Saves the record and closes the page.
ActionsThis menu appears only after the Asset record has been saved for the first time. Action options vary depending on the status of the asset and include the actions shown in the image below.

General Tab

The General tab of the Asset record contains the majority of the fields required to setup and maintain the asset.


NameName of the asset.
This field is required.
ClassThis drop-down is used to assign the asset to one or more Asset Classes.
This field is required.
Acquisition DateDate when the asset was acquired by your organization. 

This value is used to set or update the initial Placed in Service Date on the internal book. After the asset has been placed in service, any updates to this field do not update the Placed in Service Date on the internal book.

Default: Today's date.
NumberAn automatically generated number used to identify the asset. The prefix and starting number can be adjusted on the Autonumbering page. This value can be user-defined if desired.
This field is required.
Physical LocationA short description of the specific location where the asset physically resides. The entry does not need to match the R365 location.
For example, if the asset is placed in a banquet hall at Location 100, this can be something like, 'Location 100 - Banquet Hall A' or simply 'Banquet Hall A'.
Acquisition CostPurchase cost of the asset.
Changing the Acquisition Cost on an active asset will create a Placed In Service - Adjustment posting. Learn more about adjusting the Acquisition Cost before making any changes.
This field is required.
DescriptionA description of the asset.
EmployeeName of the employee who is responsible for the asset.
LocationLocation with which the asset is associated financially.
This field automatically updates if the Asset Class is changed.
Serial NumberSerial number on the asset.
QtyNumber of assets.
CategoriesThis drop-down is used to assign the asset to one or more Asset Categories.
AssetMain account associated with the asset.
This field automatically updates if the Asset Class is changed.
Gain/Loss on SaleAccount used to record gains or losses on sales.
This field automatically updates if the Asset Class is changed.
Potential Asset TriggerAccount used to monitor for new potential assets.
This field automatically updates if the Asset Class is changed.
Accumulated DepreciationAccount used to record accumulated depreciation.
This field automatically updates if the Asset Class is changed.
Depreciation ExpenseAccount used to record depreciation expenses.
This field automatically updates if the Asset Class is changed.
Construction in Progress
CIP AccountConstruction in Progress account for the asset.
CIP information is only required if the Begin Construction action is used. If the asset is immediately Placed in Service, CIP settings are not required.
Project BudgetMonetary budget for the CIP project. This value is for information purposes only and is not used in calculations.
Project Start DateStarting date for the CIP project. This value sets the date on the CIP status when the Begin Construction action is used.
Project End DateFinal date for the CIP project.
Upload FileAllows the user to upload a file from their device and attach the file to the record.

Books Tab

The Books tab is where the user can define the depreciation method and settings for the internal book of the asset.  

EditAllows the user to make changes to the information on this tab.
Deprecation MethodDeprecation Method for the book. This value is set automatically based on the selected Asset Class.
ConventionConvention for the book. This value is set automatically based on the selected Asset Class.
CalendarFiscal Year set for the book.
Placed in Service DateDate when the asset when into service, used to calculate deprecation.
Acquisition CostCost of the asset at the time it was acquired by your organization. This value is set on the General tab.
Salvage ValueSalvage value of the asset used to calculate deprecation, depending on the deprecation method.
Cost BasisThis calculated value is the difference between the Acquisition Cost and Salvage Value.
Effective LifeExpected lifespan of the asset in whole years and/or in months.
Life to Date DeprecationValue at the date of deprecation. This field cannot be edited after the first depreciation posting on the asset.
Net Book ValueNet book value of the asset.
(Current Cost - LTD Depreciation = NBV)
Effective Date of Change

Date that the edits made to the asset will be implemented. Options include:

  • Original Place in Service Date
  • User Entered Date

Service & Activity Tab

The Service & Activity tab is where tasks, notes, and email or text alerts can be recorded for the asset. This tab is also used to record the service vendor and the employee who maintains the asset.

Service VendorVendor who handles all services related to the asset.
Service EmployeeEmployee in your organization who is responsible for service on the asset and service log entries.
Next Service DateDate of the next scheduled service. 

Postings Tab

The Postings tab contains every book posting (including future postings with a status of Unposted) that occur throughout the life of the asset. When the asset has a status of Draft, the Postings tab appears blank. 

Once the status is updated to CIP or Active and the user sets the offset account, fields on the Postings tab populate with posting entries. Refer to Asset Actions for more information about setting the offset account.

Note: The examples below show two different assets with different values and uses.


Draft to CIP Example


Draft to Active Example


Columns on the Postings Tab



Type of posting. Types include the following:

  • CIP - Status changed from Draft to CIP.
  • Place in Service from CIP - Status changed from CIP to Active.
  • Place in Service - Status changed from Draft to Active.
  • Depreciation - Asset was deprecated.
  • Depreciation Adjustment - Manual adjustments were made to the deprecation.
  • Retirement - Status is changed from Active to Retired.
BookBook associated with the posting.
DateDate the entry was or will be posted.
AmountAmount of the entry.
TransactionTransaction that contains the posting. Selecting the link opens a record of the transaction.
Accum Dep AcctAccumulated Depreciation account set on the General tab or Asset Class.
Dep Expense AcctDepreciation Expense account set on the General tab or Asset Class.
Asset AcctAsset account set on the General tab or Asset Class. 
Gain / Loss AcctGain/Loss on Sale account set on the General tab or Asset Class.
Potential Trigger AcctPotential Asset Trigger account set on the General tab or Asset Class.
StatusCurrent status of the posting entry, Posted or Unposted.
UndoUndo a depreciation posting. 

The Related Expense tab shows each expense that has been linked to the asset.


Audit Trail Tab

The Audit Trail tab displays a list of changes made to the Asset record, after entering a Draft status. A row appears for each change that has been made to the record, including the field that was edited, the previous value, and the new value, as well as the user who submitted the change and the date/time the change was submitted.