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I have an item in inventory and would like to convert it to a Fixed Asset what is the best way of doing this? Is it via a negative stock journal or is there another way of doing it.
Hi,
Change the inventory adjustment account of the item in the Gen. Posting Setup to the asset cost account then do a negative adjustment thus causing below
Dr. Asset Account
Cr. Inventory Account.
Then create the fixed asset card and do an acquisition using fixed asset journal. Ensure the G/L integration is turned off for this step
There is really no good process of doing that.
It also depends on the regulations you have to follow.
Here I have sometimes used an approach where i create an internal customer. Create a sales invoice for the item. Use the sales invoice to create a purchase invoice for the fixed asset,
Then manually post between my internal customer and internal vendor so the A/R and A/P are balanced.
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André Arnaud de Cal...
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