New asset → Bought is one form that records the whole purchase without leaving Fixed Assets:
- The vendor's bill number, the vendor, Bill date and Due date.
- One line per asset: Asset description, Category, Qty, Unit cost, Tax, Location, and Separate assets → One per unit to make five chairs five assets instead of one asset of five. Add an asset for another line.
- Paid now from a bank or cash account, or leave it Not paid yet (owed to the vendor).
- In use from — tick it to put the assets in use straight away with their category's depreciation; otherwise put each in use later.
- Save purchase.
The bill appears in Purchases like any other — in aging, payable, payable through Payments made — and its tax is the bill's. Each line posts to its category's asset account.
An asset that stands for several units shows its quantity. ⋯ → Split into units divides it into separate assets, one per unit or in parts (say 2 and 3); the cost, depreciation already taken and schedule divide in proportion.