You may have "Work in Progress" (WIP) - also known as "Construction in Progress" (CIP) projects where you:

* have assets that are not yet in use

* you want the assets recorded in AssetAccountant but you do not yet want to apply depreciation

* you want to add assets as you go in the project

* you want to add additional costs to individual assets, as the project runs

The recommended way to treat Work in Progress projects in AssetAccountant is:

* set up a new Asset Group in AA dedicated to the WIP/CIP project (optional)

* using any of our importing assets methods, set the purchase date for the asset but leave the first use date blank, or:

* manually add any assets to this group, set the purchase date for the asset but leave the first use date blank

* as the project runs, you can keep adding assets to this Asset Group and/or apply Additional Costs to individual assets

When it is time to bring assets into service and begin depreciating them, you have a couple of options:

1. To manually put an asset into use:

  • Transfer the asset from the WIP/CIP group to the correct asset group (if relevant)
  • Apply a First Use transaction to the asset with the correct first use date and depreciation treatment

2. To put many assets into use, at the same time, in bulk:

  • in Bulk Actions > choose Bulk First Use and follow the on-screen instructions