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Why Does My Asset Addition Form Not Pull in Transactions From My Asset Accounts?

Learn why GL mapping alone will not move legacy postings into the Capital Assets module

What Is the Problem?

You have transactions sitting in an asset account, such as equipment and furniture or buildings and improvements. You want to add them to the Capital Assets module. You created an Asset Addition Form with GL mapping to bring them in.

But it did not work. Here is why.

How the Asset Addition Form Actually Works

The Asset Addition Form only pulls in transactions that were posted to a capital outlay account. It does not pull in transactions that were posted directly to an asset account.

If your transactions were loaded from a legacy system directly into an equipment or buildings account, they were never routed through capital outlay. The Asset Addition Form will not pick them up.

What Is GL Mapping Used For?

GL mapping on the Asset Addition Form is not used to bring postings into the Capital Assets module. It is used for a different purpose entirely.

GL mapping is used for:

  • Asset transfers, moving an asset from one fund or department to another
  • Transferring a child asset to a parent asset
  • Depreciation
  • Disposals

Using GL mapping to credit and debit the same account will not move a transaction into the Capital Assets module. It creates an in and out on the same account, which results in no change.

What Is the Correct Fix?

The only way for a transaction to appear in the Capital Assets module is for it to hit a capital outlay account.

If your legacy transactions were never posted to capital outlay, you will need a journal entry to correct this.

Here is what to do:

  1. Confirm how the original transactions were posted
  2. Work with your finance or accounting team to review the correct accounting treatment
  3. Complete a journal entry to route the transactions through the correct capital outlay account
  4. Once the journal entry is posted, the transactions will flow into the Capital Assets module correctly

Do not make any changes without confirming with your finance or accounting team first.

Quick Summary

What You Tried Why It Did Not Work
Asset Addition Form with GL mapping GL mapping is for transfers, depreciation, and disposals, not for importing legacy postings
Crediting and debiting the same account Creates no net change, nothing moves into the module
Posting directly to an asset account Capital outlay is required for the module to recognize the transaction
Journal entry to capital outlay This is the correct fix

 

Need Help

If you have questions about why your Asset Addition Form is not pulling in transactions, contact the Aclarian Client Support team for assistance.