Fixed Asset From Item

georgian2869

Hi All,
Can we create Fixed assets from Item by consuming the inventory and by increasing the FA cost by Inventory cost.
The reason behind is would like to track the Inventory movement and and quantity before the actual capitalization.
Any process of doing so?????

Malajlo

One way is to sell item yourself and then purchase FA from yourself.

georgian2869

ya Thats one way i do have but wana searching for some system function, like we have consumption and output.

ssingla

You can define a G/L account "Capital Item consumed" and link it with the Inventory account of the item (Inventory posting setup). Pass a negative adjustment entry for stores issued and then pass a FA/GL journal for capitilation entry.

georgian2869

Hi Mr.Singla,
Thanx for suggestions, that was one good workaround, but i am looking for something like we have in manufacturing module, where in when we post output the consumption entries get posted and cost travels from consumed material to material produced. In the same manner if we can post an entry for FA Produced and at the same time the consumption entry get posted and inventory cost should travel to my FA Cost.