Transfer Stock Item to a Fixed Asset

[Former Member]

All Fellow Consultants

Having recently installed/Setup the Fixed Asset Add-On Version 9.0 Patch 12

We have been asked by our Customer if it is possible to Transfer a Stock Item to a Fixed Asset.

Scenario is as follows:

The Customer purchase Laptops for resale some of these laptops will be supplied to the staff to use. This would mean that they would need to be put on the fixed asset register and depreciated as normal assets.

Any suggestions

Regards

Andrew Birrell

[Joselito]

Hi

There is not a functionality able to 'transform'  an item into and asset, but you can do it indirectly, in 2 steps

I will imagine this scenario:

You have 10 laptops as stock item that you produced/bought on 01.01.2012 with a total useful life of 36 months: cost price unit 120.00 $,

From this purchase 5 need to go to employees:

Then I guess accountant will have to 'clear' the 5 assets from the inventory to do so:

They will create an Issue from stock Quantity 5, very Important using as G/L account the account that has been defined as 'Acquisition Clearing Account' in The G/L account determination of the fixed assets.

Then the user can create a new asset master data , and do Capitalization for 5 and using as net price, the value that was issued from the stock

I think this is correct, the only problem is that the asset and inventory cannot have the same code, so you will have to use  the field 'name' to be sure that you are talking about the same item that became asset.

Hope it helps

Jose