Sometimes you may experience difficulty importing your assets from another system or from old spreadsheets.

It is unlikely there is a problem with the AssetAccountant importing tools.

The problem nearly always lies in less-than-perfect data being transferred from your existing system > AA import template > AA import tools.

Your first step is to check POINT-BY-POINT below and double check ALL of your data!

Then upload separate files of smaller subsets of data (i.e. 5-50 assets) to see if the problem persists. 

Some typical examples of items to check to make sure your asset import data is clean and works:

  • Wrong data in the wrong column - E.g. custom notes where depreciation rates should be.
  • Excess rows: Please delete ALL rows with ANY data not required for importing. AA will attempt to import any row with data in it, and will fail if it comes across random data (e.g. column sums).
  • Purchase cost of assets cannot be negative.
  • Opening balances cannot be negative.
  • Written Down Values cannot be negative (book value, net book value).
  • A first use date BEFORE the acquisition date is impossible and will fail an import.
  • If you use tax and/or accounts effective life, this must have a value above 0.
  • Depreciation rates for tax and accounts must have a value between either 1 - 100 or, 0 - 1. I.e. this is a percentage field. Unless you are importing assets under method 'None' or 'Doesn't exist'. In which case no rate is required as the asset will not depreciate.
  • Character limits exceeded - E.g. Asset name (128 characters), Asset code (64 characters).
  • Date format: If setting up a USA register, use USA format (mm/dd/yyyy). If in Australia, New Zealand, South Africa, United Kingdom, Canada, etc. use British format (dd/mm/yyyy).
  • Percentages: When AA is expecting a percentage value, be consistent. AA will recognise a percentage expressed as, for example, either 0.33 or 33%.
  • Excess data: We have seen spreadsheets where the template has obviously been amended many times and for whatever reason, hundreds or even thousands of unused rows/columns have been accidentally added. Make sure you delete all superfluous data like this OR copy and paste your relevant data into a fresh template spreadsheet and re-import.

Here is what to do if you have cleaned all of your data step-by-step, but the asset imports still fail and don't work

Sometimes when you copy data from one or more original sources or spreadsheets, into our importing templates, some hidden formatting errors can be copied across with it. Although some of this formatting and unsupported non-standard characters may not be noticed by you, they can corrupt successful importing of your assets and data into AssetAccountant.

To correct any of these possible data corruptions, follow these steps:

1. Copy ONLY the cells of data from the spreadsheet, being careful not to select empty rows or columns.

2. Login and go to Google Sheets and setup a brand new sheet here:

3. Paste your data.

4. For any columns containing numbers (e.g. Cost, Written Down Values), highlight the columns then select from the menus Format > Number > Financial.

5. For any columns containing a date (e.g. acquisition, first use date) highlight the columns, then select from the menus Format > Number > Date.

6. Then download: File > Download > Microsoft Excel (.xlsx)

7. Then import: AssetAccountant > Add Assets > File Import

How the relationship between depreciation rate and effective life is important for uploading data to AssetAccountant depending on your jurisdiction: 

Every country has different rules for effective life and rate. In the USA, we can usually derive depreciation rate from effective life as the rules are well-understood. in the case of 'Rest of World' countries, we need to know both the life and the rate, where the depreciation rate is taken as the 'source of truth'. To calculate the depreciation rate from having an effective life, the formula is Rate = Cost Basis (%) / Effective Life. For example: In the case of Straight Line (100% cost basis) and the effective life is 12 years, the depreciation rate you'll need to apply is 100% / 12 = 8.333%. So you can either enter 0.08333 or 8.333 in your AssetAccountant data upload spreadsheet template.

Further, if this is your first attempt and it is unsuccessful, your IT department might have restrictions that disallow uploading data to unapproved domains. You will not get any message in this case except that the import failed.

If you haven't already seen this from the video hub, it is an excellent and short guide to importing assets into AA: