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How to Import & Post Fixed Assets in Epicor Kinetic
Monthly Fixed Asset Close — End-to-End Procedure

Written by ERP Rescue consultants  ·  Epicor Kinetic  ·  Finance / Fixed Asset Management

What This Guide Covers

This is the complete monthly fixed asset close procedure for Epicor Kinetic. It walks accounting staff through loading new assets via DMT, verifying GL Control Codes, posting additions, calculating and posting depreciation, reconciling in Chart Tracker, and running the annual year-end process. Follow these steps in order every month.

⚠️ Before You Begin

  • You have access to Asset Maintenance, GL Control Codes, and Chart Tracker.
  • The current accounting period is open in the General Ledger. Epicor always posts to the first open period — entries will roll forward if the target period is closed.
  • The acquisition spreadsheet is prepared and saved in the shared folder with at minimum: Asset Description, Asset Class/Group, Acquisition Date, Cost, Useful Life, and Location.
  • The depreciation worksheet is available for spot-check comparison.

💡 Note: Asset Maintenance is a company-wide module. Reports return data across the entire company — filter by location to narrow to a single site.

Interactive Walkthrough

Watch the workflow animate automatically, or use Prev / Next to move at your own pace.

Epicor Kinetic — Fixed Asset Management
Step 1 of 7

Step-by-Step Instructions

1

Prepare and Load Assets via DMT

Confirm your acquisition spreadsheet is complete and saved in the shared folder using the naming convention FA_Additions_YYYY-MM.xlsx. At minimum it must contain: Asset Description, Asset Class/Group, Acquisition Date, Cost, Useful Life, and Location.

Open the Data Management Tool, select the Asset table template, browse to the spreadsheet, validate the column mapping, and execute the load.

Open Asset Maintenance and confirm every new asset appears with status "Waiting to be Posted." If any asset is missing, check the DMT error log before continuing.

💡 Manual entry: DMT is recommended when adding more than a handful of assets. For a single asset, you can enter it directly in Asset Maintenance instead.
2

Verify GL Control Codes

Open GL Control Codes. For every asset group used in this month's additions, confirm all four accounts are populated:

Asset Cost Account Debited when an addition is posted
Clearing Account (1680) Offset for additions; must net to zero after posting
Accum. Depreciation Account Credited monthly (e.g. 1730 for Vehicles, 1770 for others)
Depreciation Charge Account Debited monthly with the depreciation expense

Save the control code and repeat for every asset group used this month before moving to Step 3.

3

Run the Asset Edit List — Additions

Open Asset Edit List. Set the date range to cover the acquisitions being posted. Select Additions only — leave Depreciation and other types unchecked. Click Preview.

Walk down every line in the preview. For each asset, confirm a debit and credit pair in the 1680 clearing account that offsets exactly. If any line is missing its offset or shows an unexpected account, stop and fix the GL Control Code before posting.

Common error: "No records available"
Check: (1) GL Control Code has the required account, (2) correct transaction type is selected, (3) date range includes the acquisition date.
4

Post Additions

Open Asset Posting Process. Check Additions only. Submit the process and wait for the confirmation message.

⚠️ Period warning: Epicor posts to the first open GL period. If the intended period is closed, entries roll forward. Always confirm the current open period before posting, and verify the target period after.
5

Verify Additions in Chart Tracker

Open Chart Tracker. Filter to account 1680 and the relevant fiscal year and period. Filter the journal source to FA only.

Confirm each acquisition shows a balanced debit and credit pair tagged with the FA journal source. Export the filtered results to Excel. SUM the debit and credit columns — they must be equal to the penny.

Save the reconciliation file as FA_Recon_YYYY-MM_1680.xlsx in the shared folder.

💡 If postings don't appear: Open Asset Tracker on a single asset and look up the Fiscal Year and Fiscal Period on the posted activity, then re-filter Chart Tracker using those exact values.
6

Calculate and Post Depreciation

Open Calculate Depreciation. Select the asset useful-life basis (the default is correct for normal monthly processing) and run. The system writes depreciation schedules to each asset.

Spot-check: open Asset Tracker → Depreciation Schedules on a sample asset and confirm the schedule was generated with the expected monthly amount.

Open Asset Edit List again. Set the date range to the depreciation period, select Depreciation only, and Preview. Confirm each asset shows a debit to the depreciation expense account and a credit to accumulated depreciation (1770 or the group-specific account).

Open Asset Posting Process, check Depreciation only, set the through-date to the end of the period, and Submit.

Error: "Invalid Depreciation Charge Account"
GL Control Code is missing or has the wrong Depreciation Charge account. Fix in GL Control Codes and rerun the edit list.
Verify after posting
Chart Tracker → filter to 1770 (or relevant accum. dep. account) → confirm one FA entry per asset → spot-check vs. worksheet.
7

Asset Year-End Process (Annual only)

After every transaction for the entire fiscal year has been posted and verified, close the year so Epicor advances the current period.

  1. Confirm no assets are sitting in "Waiting to be Posted" status and the Review Journal is clear.
  2. Close all GL periods within the fiscal year through the standard GL close process.
  3. Open the Asset Year End Process, select the closing fiscal year, and Submit.
✅ Done. The system advances to the new fiscal year. Begin the next cycle with Step 1.

Monthly Checklist

Use this list each month. Work through it in order.

Still Having Trouble?

Fixed asset close issues — wrong period postings, GL Control Code mismatches, Chart Tracker filter mismatches — can be tricky to diagnose without knowing your specific chart of accounts and fiscal calendar setup. If you're stuck, we can diagnose and resolve it in a single call.

Talk to an Epicor Expert — Free Consultation

Article Details

MODULEFixed Asset Management
EPICOR VERSIONSKinetic
DIFFICULTYIntermediate
FREQUENCYMonthly
TIME TO COMPLETE30–60 minutes
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