Connect Projects with Fixed Assets Management CIP assets

Connect Projects with Fixed Assets Management CIP assets introduces automated efficiency with the ability to link existing CIP (Construction in Progress) assets directly to a project.

You can automatically connect projects to the Fixed Assets Management application through CIP (Construction in Progress) functionality. When you assign a CIP asset to a project, you enable consistent and accurate cost tracking and streamlined workflows.

This capability enables seamless integration between projects and CIP assets in the following ways:

• Streamlined workflows: One-time link between a project and CIP asset saves repetitive work.
• Increased accuracy: Auto-defaulting in AP Bills and POs improves accuracy.
• Improved visibility: Comprehensive monitoring of a project and asset progress improves success.
• Enhanced efficiency: Validating CIP asset status before linking improves performance.

Key benefits

By linking a CIP asset dimension directly to a project, organizations can automatically default CIP values in AP Bills and Purchase Orders, reducing repetitive data entry. The CIP asset is checked for the correct status before linking occurs.

This feature allows you to associate the project and CIP asset one time only. The correct values in AP Bills and Purchase Orders are then applied automatically when the project is selected. This capability saves time, reduces errors, and ensures consistency.

For example, a church building a new youth center creates a CIP asset and links it to the project at kickoff. As supplies and services are purchased, AP Bills and POs automatically carry both the project and CIP asset values. This capability ensures accurate tracking throughout the project and simplifies capitalization when the asset is placed in service.

Prerequisites

Before you begin to connect projects to CIP assets, first enable the Fixed Assets Management subscription. Then, you can enable CIP and verify that you have the correct user permissions.

Step 1. Verify your Fixed Assets Management subscription

The Add CIP Asset field only appears when the Fixed Assets Management subscription is enabled.

1. Go to Company > Admin > Subscriptions.
2. Confirm that the Fixed Assets Management subscription is turned on.

For more information, see Subscribe to an application.

Step 2. Enable CIP

1. Go to Fixed Assets Management > Setup > Configuration.
2. Under General settings on the Fixed Assets Management configuration page, select the Enable CIP checkbox.

Step 3. Verify subscription permissions for users

Verify that Business, Client, Project Manager, and Payment Approver users have the following subscription permissions.

• For Fixed Assets Management, users need List and View permissions.
• For Projects, users need List, View, and Edit permissions.

It's important that you verify that you have the correct permissions before starting a project. This simple step helps to avoid delays in linking CIP assets and processing transactions. For more information, see the Video: Assign permissions.

For more information, see the Video: Assign permissions.

Step 4. Connect a project with CIP assets

The CIP asset dropdown menu lists only existing assets that are in the Construction in Progress state. For detailed information on creating assets, see Create assets - Fixed Assets Management.

1. Go to the Projects > Setup > Projects.
2. Find a project in the list and select the Edit icon at the end of the row.
3. Go to the Dimension section of the Project page.
4. Select an asset from the CIP asset dropdown list.

   

5. At the top of the Projects information page, select Save.