Parent / Child relationship

Question

Hello All, 
 I have a customer wondering if they are able to establish a parent / child relationship in FAS. An example, they have a tractor as an asset, then they replace the engine and the engine is capitalizable. They want to make sure when they dispose of one they dispose of both. 
 Thanks in advance!

Delray · Answer

Hello 1371006, 
 The only way to create a Parent/Child relationship on an asset in the Sage Fixed Assets is on performing a transfer transaction on the asset, but that is just moving the same asset to different places. 
 There is not a way to link two otherwise unrelated assets. What we often suggest would be to use a Custom Field or some other general information field to indicate that the assets are linked, and, in that way, you would be able to sort the assets together on reports and the Asset List or a group. 
 ~Delray

Bob Mc · Answer

To: 1371006 
 The terms "parent/child" have a technical meaning in the SFA software. As Delray pointed out, it applies to transfers. There is no technical solution exactly for what you are asking although I understand what it is that you want to do. The solution may better lie in your methods. Let me suggest a recommendation. 
 
 Navigate into the detail view of the tractor asset. 
 Replicate the asset 2 times. 
 Add a note onto the asset record and explain that it was replicated and refer to the new system number. 
 Save the note to the asset. 
 Inactivate the original tractor asset (this will prevent you from double depreciating the tractor). 
 Navigate to the bottom of your database, and confirm you have 2 new asset records. These are both replicated copies of the tractor. The 1st of the 2 assets will "fill the shoes" of the asset you just inactivated. 
 Open the detail view of the last asset (the 2d replicated asset) and edit the general information fields. Edit the Description field so that it indicates Tractor engine, or words to that effect, and other fields as appropriate. 
 While still in the detail view, edit the book information fields to indicate the correct Placed in Service date, Acquistion Value, etc for the new engine. 
 Add a note indicating that this asset was a capital expenditure on the tractor and refer to the new system number for the tractor. (Put a note on the Tractor asset too. This note should refer to the capital expenditure and cite the new system number for the Tractor engine.) 
 Save the changes on the Tractor engine asset record. 
 
 Having both assets contiguously displayed in your database assets may make it easier to recognize. When you need to dispose of the tractor, you will need to dispose of the tractor engine as well. You can easily select both assets and perform a bulk disposal.

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Parent / Child relationship

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