How to Import Existing Assets into Axanta ERP

Existing assets may already have been depreciated before they are introduced into Axanta ERP. The opening asset import allows the original purchase information, accumulated depreciation, and remaining depreciation schedule to be brought into the system accurately.

This guide explains how to:

• Prepare existing asset information for import
• Import the original purchase date and useful life
• Enter the depreciation closing date
• Enter closing accumulated depreciation
• Avoid creating depreciation entries for past periods
• Review imported assets after the import

1. Understand the Opening Asset Method

The asset must retain its original purchase date and original useful life. The import date must not become the asset’s new starting date.

Example

An asset was purchased on 1 January 2025 and has a useful life of 5 years. Its depreciation should still finish based on the original 2025 purchase date, even when it is imported in 2026.

2. Prepare the Asset Profiles

Before importing assets, ensure that the required asset profiles are available. Each profile should contain the appropriate:

• Fixed asset account
• Accumulated depreciation account
• Depreciation expense account
• Asset journal
• Depreciation method and period
• Gain, loss, and residual value accounts where applicable

3. Prepare the Import File

Each asset should be represented by one row in the import file.

Include the following information:

4. Depreciation Closing Date

The Depreciation Closing Date tells Axanta ERP that depreciation before this date has already been handled outside the system.

The date does not have to be the final day of a month. Axanta ERP will continue the future depreciation schedule from the appropriate next depreciation period.

5. Closing Accumulated Depreciation

Enter the total accumulated depreciation already recognized as of the closing date. This amount reduces the asset’s remaining depreciable value.

The opening balances for the fixed asset and accumulated depreciation accounts must be recorded separately through the company’s opening accounting balance process.

6. Import the File

1. Go to Accounting → Assets → Assets.
2. Open the available actions and select Import Records.
3. Upload the prepared Excel or CSV file.
4. Match each spreadsheet column to the corresponding Axanta field.
5. Use the import test option to identify missing or invalid information.
6. Correct any reported errors.
7. Start the final import.

7. Review the Imported Asset

Open a sample imported asset and verify:

• The asset name and reference are correct.
• The original purchase date has been retained.
• The original purchase value and salvage value are correct.
• The correct asset profile was assigned.
• The depreciation closing date is correct.
• The closing accumulated depreciation is correct.
• The depreciation end date follows the original useful life.
• No scheduled depreciation lines were created for already-closed past periods.
• Future depreciation amounts and dates are reasonable.

8. Confirm the Imported Assets

After validation, confirm the imported assets according to the company’s approval process. Normal assets created without opening depreciation information will continue to follow the standard asset creation procedure.

9. Reconcile Asset and Accounting Reports

After completing the import, compare:

• Total asset purchase values against the fixed asset opening balance.
• Total closing accumulated depreciation against the accounting opening balance.
• Remaining book values against the client’s opening fixed asset register.
• Future depreciation against the expected schedule.

Common Import Issues