How to Create Asset from Project in iDempiere

Configure the Create Asset from Project process in iDempiere to capitalize completed store, warehouse, or equipment projects as fixed assets.

Introduction

The Create Asset from Project process converts a completed project into a Fixed Asset by generating and completing an Asset Addition document. It is used once construction, fit-out, or equipment installation work is finished and ready for capitalization.

It directly impacts fixed asset accounting, depreciation schedules, and project closure, ensuring capital costs move from the Project ledger into the Asset register for reporting.

Process Flow

Business Rules

• Project field is mandatory before the process can run.
• Product field is mandatory and must represent the asset being created.
• Product must belong to a Product Category linked to an Asset Group.
• Transaction Date is used as both Document Date and Accounting Date.
• Asset Addition is created and completed automatically in one run.
• The source Project is closed automatically once the asset is created.
• Usable Life Years is optional and overrides the Asset Group default.
• The selected Project must have its Project Balance fully posted, as the system uses this balance to determine the created asset’s value.

Prerequisites

• Project window configured with actual project costs recorded.
• Asset Product created and linked to a Product Category.
• Product Category linked to a valid Asset Group.
• Asset Group configured with depreciation type and useful life.
• Fixed Asset accounting (Asset Accounting) configured for the Organization.
• Transaction Date period open in the Calendar/Period Control.

Configuration Steps

Step 1: Select the Completed Project

Click the Project field, search for the closed project (for example, a store renovation), and select it. Confirm all project costs are posted before proceeding.

Important: The system uses the balance amount to determine the value of the asset that gets created.

Step 2: Select the Asset Product

Select the asset product, such as Store Fixtures or Refrigeration Unit. Verify the product’s category has an Asset Group before running the process.

Field	Sample Value	Description
Project	Store 12 Renovation	Source project whose cost is capitalized
Product	Store Fixtures – Asset	Defines the Fixed Asset type created

Step 3: Set the Transaction Date

Enter the date the asset goes into service, typically the project completion date. This date affects when depreciation begins.

Step 4: Enter Usable Life Years (Optional)

Only populate this if the asset’s actual useful life differs from the Asset Group default, such as leasehold improvements with a shorter lease term.

Field	Sample Value	Purpose
Transaction Date	07/15/2026	Sets Document Date, Accounting Date, and in-service date
Usable Life – Years	5	Overrides Asset Group default depreciation years
Run as Job	Unchecked	Runs the process immediately in the foreground

Step 5: Run the Process

Click OK. The system validates the Project and Product, verifies the Asset Group, then creates and completes the Asset Addition automatically.

Step 6: Review the Created Asset Addition

After successful completion, the process log links directly to the new Asset Addition for review.

Common Issues and Resolutions

Issue	Cause	Resolution
Missing Mandatory Field Value error	Project or Product left blank	Select both Project and Product before clicking OK
“Product is not asset type” error	Product’s category has no Asset Group	Link the Product Category to a valid Asset Group
Wrong depreciation years applied	Usable Life Years left blank unintentionally	Enter the correct override value if it differs from Asset Group default

Next Steps

• Configure Asset Group and depreciation settings in Asset Setup.
• Review the Asset Addition window for accounting entries.
• Set up the Depreciation Workfile for the new Fixed Asset.
• Verify Fixed Asset appears correctly in Asset reporting.