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Inventory to Fixed Asset

Posted on by 64
I have some inventory I would like to move to fixed asset. Is there a way to do? For example I have 10 units of Inventory X. These need to be moved out of inventory and into fixed assets. However, these need to be 10 individual fixed assets because they can be moved separately to different warehouses.
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  • Verified answer
    Jun Wang Profile Picture
    Jun Wang 4,078 Super User on at
    Inventory to Fixed Asset
    the solution suggested by Yi Yong is excellent! After creating a product posting group such as FA conversion, and assign it to a separate inventory adjustment account for fa conversion, you'll be able to separate such transaction from regular inventory transactions.  this is an optional step though.
     
    if you create such a posting group, you need to populate on the item journal so the new posting group override the default posting group for the item.
     
    by putting the inventory adjustment account as balance account, BC will move the value of those items from it and put into the FA account. 
     
    hope it clear up a bit.
     
    Jun Wang
  • Verified answer
    Yi Yong Profile Picture
    Yi Yong 202 on at
    Inventory to Fixed Asset
    Hello,
     
    There is no direct conversion from Inventory Item to Fixed Asset in BC by standard.
    You will have to do a couple of entries to achieve this.
     
    1. Do Negative Item Journal entries on the Inventory Items. You may want to consider creating a separate Gen. Prod. Posting Group for a cleaner approach.
    Otherwise, it will post to the GL account stated on the item's Gen. Prod Posting Group Inventory Adjmt. Account.
     
    2. Create ten fixed assets separately. You can use the 'Copy Fixed Assets' function to speed up the process.
     
    3. Create Acquisition entries on Fixed Asset G/L Journals and make sure the Bal. Account No. is tied to the step#1 Inventory Adjmt. Account.

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