Troubleshooting fixed assets in iplicit - what to check first?

This article covers the most common configuration issues that cause fixed asset movements and journals to fail in iplicit's Fixed Assets module. These checks apply across all movement types - capitalisation, depreciation, disposal, impairment, write-off and extraordinary depreciation. Work through each check in order before raising a support ticket.

Check one: Document types and series

Each movement type has its own document type in iplicit. The document type must be unlocked and a document series must exist, be unlocked and be dated before your earliest asset. If either is missing or incorrectly configured, iplicit cannot post the journal. See How to set up document types and series for fixed assets in iplicit.

Check two: Account defaults and account categorisation

Each movement type requires GL account defaults to be configured for the asset group, and the accounts assigned must be correctly categorised - capitalisation accounts must be Balance Sheet, not Profit & Loss. If either is missing or incorrect, the journal will fail. See How to configure account defaults for fixed assets in iplicit.

Check three: Capitalisation rule start date

If assets are not capitalising from purchase invoices, check that the capitalisation rule's 'Date from' is set to a date earlier than the asset's purchase date. See How do asset capitalisation rules work in iplicit.

Check four: Useful life

A depreciating asset must have a useful life entered before capitalisation can complete. Without it, iplicit cannot generate a depreciation schedule. See Why is my fixed asset stuck in pending in iplicit.

Check five: Asset status

Some actions are only available when the asset is in a specific status - 'Approved' for capitalisation, 'Capitalised' for depreciation, disposal, impairment and write-off. If the option you need is not available, check the asset's current status first.

Check six: Period is open

Confirm the financial period covering the movement date is open before processing. iplicit cannot post a journal to a closed period. If the period is closed, it will need to be unlocked before the movement can complete. See How to unlock a period in iplicit.

Check seven: Run the relevant automation

If the movement has been triggered but the journal has not posted, run the relevant automation manually for the movement type you are processing - for example, the auto-capitalisation automation or the depreciation automation. Automations can be run manually even if they are scheduled to run automatically. Navigate to the relevant automation screen and run it for the asset or asset group in question.

Check eight: Post the journal from the Asset Journals screen

If the automation has run but the journal is sitting in draft, navigate to Asset > Journals from the Main Menu or enter 'Asset Journals' in the quick search. Locate the journal for the relevant asset and submit it from this screen. This is useful when the automation ran without the 'Submit' option ticked, leaving journals in draft rather than posting them automatically. See How to run depreciation for fixed assets in iplicit for further context on this process.

Check nine: Posting attributes on the Chart of Accounts rule

If asset journals are posting but with missing or incorrect posting attributes, check the Chart of Accounts rule associated with the fixed asset account. Any posting attributes configured on the COA rule are applied to the journals iplicit creates automatically - if these are not set correctly before capitalisation, the resulting journals cannot be manually edited to correct them.

Posting attributes can be corrected after posting using the posting attribute amendment function, but this is significant work when there are large numbers of asset journals affected. Confirm the correct posting attribute defaults are set on the asset record itself before capitalising. See How to configure account defaults for fixed assets in iplicit.

Still not resolved?

Check the 'Log' tab on the asset record. This records what iplicit attempted and why it stopped - it is the fastest way to identify an error not covered by the checks above. If the log does not identify the cause, contact support with the error message and asset record details.