Linking Assets to Purchase Transactions

Connect your fixed assets to existing expenses or payables in Officaid for a complete financial trail.

Connect your assets to the transactions behind them

When you buy equipment for your business, you probably record the purchase as an expense or payable in Officaid. When you add that same item as a fixed asset, you can link the two records together. This creates a complete paper trail from the original purchase to the asset itself, keeping your financial records connected and accurate.

This guide explains how to link fixed assets to purchase transactions, including how to handle situations where one receipt covers multiple assets.

Why Link Assets to Transactions?

Linking isn't required, but it offers several benefits:

Complete audit trail. You can trace any asset back to its original purchase record, including the date, amount, vendor, and account used
No duplicate entry. The purchase details flow through from the expense or payable, reducing manual data entry
Accurate financials. Your expense records and asset records stay in sync, making reconciliation easier
Better reporting. See the full picture of your purchases and assets in one connected system

If you haven't recorded the purchase yet, you can add it as an expense or payable first, then come back and link it when creating the fixed asset. See How to Create an Expense or How to Create a Payable for guidance.

How to Link an Asset to a Transaction

1 When adding or editing a fixed asset, enter the Purchase Cost and Purchase Date first
2 Toggle on Link asset to Expense/Payable
3 Click Select Purchase Transaction
4 Choose the matching transaction from the list and click Select

Once linked, the transaction details appear on the asset form showing the Type (Expense or Payable), Date, Amount, Payee, and Account. This confirms the connection between the asset and its purchase record.

You must enter the purchase cost and date before you can select a transaction. If you try to click Select Purchase Transaction without these details.

Changing or Removing a Link

If you linked to the wrong transaction or need to update the connection:

1 Open the fixed asset for editing
2 Click Change Purchase Link below the linked transaction details
3 Select a different transaction from the list, or toggle off Link asset to Expense/Payable to remove the link entirely
4 Click Add or Save to confirm your changes

Linking Multiple Assets to One Transaction

Sometimes a single purchase includes multiple assets. For example, you might buy five office chairs on one receipt, or a computer along with a monitor and keyboard in a single order. The Shared Purchase Link feature lets you link multiple fixed assets to the same expense or payable.

To enable this:

1 When adding or editing a fixed asset, toggle on Link asset to Expense/Payable
2 Toggle on Shared Purchase Link
3 Click Select Purchase Transaction
4 The modal now shows Shared Purchase Mode Active at the top, indicating that multiple assets can link to this transaction
5 Select the transaction and click Select

When Shared Purchase Link is enabled, the transaction selection modal includes an Allocated column. This shows how much of the transaction amount has already been assigned to other assets, helping you keep track of the split.

Each asset should have its own purchase cost that reflects its individual value. The Shared Purchase Link feature tracks the allocation, but you're responsible for entering accurate costs for each asset.

For example, if you purchased a desk and chair together for $500:

Create a fixed asset for the desk with a purchase cost of $350
Create a fixed asset for the chair with a purchase cost of $150
Link both assets to the same $500 expense using Shared Purchase Link

The system tracks that $500 has been allocated across the two assets, keeping your records balanced.

What Transactions Can Be Linked?

You can link fixed assets to:

Expenses – Direct purchases recorded in your expense records
Payables – Purchases recorded as amounts owed to vendors

The transaction selection modal shows all available expenses and payables, displaying the Type, Date, Amount, Payee, and Description for each. Use this information to find and select the correct transaction.

Make sure the purchase cost on your fixed asset matches the transaction amount (or the asset's portion of it for shared purchases). Mismatched amounts can cause confusion in your financial records.

Frequently Asked Questions

Do I have to link every asset to a transaction?

No, linking is optional. You might skip it for older assets where the original purchase record no longer exists, or for assets received as gifts or transfers. The fixed asset will still work correctly without a linked transaction.

What if I recorded the purchase after adding the asset?

You can link them later. Edit the fixed asset, toggle on Link asset to Expense/Payable, and select the transaction. The link can be added at any time.

Can I link one asset to multiple transactions?

No, each asset can only link to one expense or payable. If you paid for an asset across multiple transactions, you'll need to decide which one to link, or create a single consolidated expense record first.

What happens to the link if I delete the expense or payable?

The fixed asset remains, but the link is broken. The asset will show that it's no longer connected to a transaction. You can link it to a different transaction or leave it unlinked.

Does linking affect my expense reports?

No, the expense or payable remains unchanged. Linking simply creates a reference between the two records. Your expense reports will still show the original transaction as recorded.

What's Next?

Now that you understand how to connect assets and transactions, explore these related topics:

Understanding Depreciation – Learn how asset values decrease over time
Fixed Asset Statuses and Lifecycle – Manage assets from acquisition to disposal
Navigating the Fixed Assets Dashboard – Filter, search, and download your asset data

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