1. Equipment Rental
  2. Rental Management
  3. Rental processes
  4. Finance
  5. Fixed asset management

Convert inventory to fixed asset

Rental Management is integrated with the Fixed assets module.

When serialized items are purchased or produced, they become available in on-hand inventory. You can then acquire them as fixed assets.


Finance manager Finance manager Start Start Validate the On-hand quantity (purchased and produced) Validate the On-hand quantity (purchased and produced) Procedure 1. Go to Stock management > Inquiries and reports > On-hand list. 2. Apply the following filters: Enter a filter value of "1" on the "Physical stock" field using the "is equal to" filter operator; Enter a filter value of "606000090" on the "Item number" field using the "begins with" filter operator; Enter a filter value of "" on the "Serial number" field using the "begins with" filter operator; Enter a filter value of "" on the "Site" field using the "begins with" filter operator; Enter a filter value of "" on the "Warehouse" field using the "begins with" filter operator; Enter a filter value of "" on the "Batch number" field using the "begins with" filter operator; Enter a filter value of "" on the "Search name" field using the "begins with" filter operator 3. Click Open in Microsoft Office. 4. Click On-hand stock. 5. Click Download. 6. Close the page. Create the Inventory to FA journal header Create the Inventory to FA journal header Record the acquisition of a fixed asset using an inventory-to-fixed-asset journal. Purchased or produced serialized items are added to inventory and become available for acquisition. The Finance department manually runs the journal to set the acquisition value equal to the item’s cost value. After posting, the on-hand quantity becomes zero. The New fixed asset field is set to No for all products. This also applies to purchase orders. Business objects first appear under category Inventory. After posting, they are updated to category Rental. Procedure 1. Go to Business objects > Journals > Inventory to fixed assets. 2. Click New. 3. In the list, mark the selected row. 4. In the Description field, type a value. 5. Click Save. 6. Close the page. Create the Inventory to FA journal lines Create the Inventory to FA journal lines Procedure 1. Go to Business objects > Journals > Inventory to fixed assets. 2. In the list, mark the selected row. 3. Click Lines. 4. Click New. 5. In the list, mark the selected row. 6. In the Item number field, enter or select a value. 7. In the Site field, enter or select a value. 8. In the Warehouse field, enter or select a value. 9. In the Location field, enter or select a value. 10. In the Serial number field, enter or select a value. Pick the On-hand Quantity with WHS dimensions Pick the On-hand Quantity with WHS dimensions Pick the on-hand quantity by journal line using advanced warehouse dimensions. The dimensions include: Site Warehouse Location License plate Procedure 1. Go to Business objects > Journals > Inventory to fixed assets. 2. In the list, mark the selected row. 3. Click Lines. 4. In the list, mark the selected row. 5. Click Stock. 6. Click Pick. 7. Click Add picking line. 8. Click Confirm pick all. 9. Close the page. Generate the Fixed Assets numbers (by line) Generate the Fixed Assets numbers (by line) The Business object module is integrated with the Fixed assets module. When serialized items are purchased or produced, they become available in inventory and can be acquired. Procedure 1. Go to Business objects > Journals > Inventory to fixed assets. 2. In the list, mark the selected row. 3. Click Lines. 4. In the list, mark the selected row. 5. Click New fixed asset to open the drop dialogue. 6. Click Create. 7. In the list, find and select the desired record. 8. Close the page. Post the Inventory to FA journal Post the Inventory to FA journal The Finance department manually runs the Inventory to Fixed Asset journal to transfer the item value to the acquisition value. After posting, the on-hand quantity is set to zero. Business objects initially in the Inventory category are updated to Rental after the journal is posted. Procedure 1. Go to Business objects > Journals > Inventory to fixed assets. 2. In the list, mark the selected row. 3. Click Validate. 4. Click OK. 5. Click Post. 6. Click OK. 7. Close the page. End End Is a new business object needed? Is a new business object needed? Acquire a fixed asset and business object through a purchase order Acquire a fixed asset and business object through a purchase order You can acquire a fixed asset and a business object directly through a purchase order in Rental Management. This process avoids using the Inventory to fixed asset journal.Note: On the fixed asset line, set the New fixed asset field to Yes and enter a value in the Fixed asset group field. Procedure 1. Go to Accounts payable > Purchase orders > All purchase orders. 2. Click New. 3. In the Vendor account field, enter or select a value. 4. Click OK. 5. On the Action Pane, click Receive. 6. In the Item number field, enter or select a value. 7. In the list, mark the selected row. 8. In the Site field, type a value. 9. In the Warehouse field, type a value. 10. Click Rental. 11. Click Create serial numbers. 12. In the Serial number field, type a value. 13. In the Manufacturing date field, enter a date. 14. Click OK. 15. Click the Fixed assets tab. 16. Click Save. 17. On the Action Pane, click Purchase. 18. Click Confirm. 19. On the Action Pane, click Receive. 20. Click Product receipt. 21. In the Product receipt field, type a value. 22. Click OK. 23. Click to follow the link in the Fixed asset number field. 24. Close the page. 25. Click Rental. 26. Click Business objects. 27. Close the page. No Yes

Activities

Name Responsible Description

Validate the On-hand quantity (purchased and produced)

Finance manager

Create the Inventory to FA journal header

Finance manager

Record the acquisition of a fixed asset using an inventory-to-fixed-asset journal.

Purchased or produced serialized items are added to inventory and become available for acquisition. The Finance department manually runs the journal to set the acquisition value equal to the item’s cost value. After posting, the on-hand quantity becomes zero.

The New fixed asset field is set to No for all products. This also applies to purchase orders.

Business objects first appear under category Inventory. After posting, they are updated to category Rental.

Create the Inventory to FA journal lines

Finance manager

Pick the On-hand Quantity with WHS dimensions

Finance manager

Pick the on-hand quantity by journal line using advanced warehouse dimensions.

The dimensions include:

  • Site
  • Warehouse
  • Location
  • License plate

Generate the Fixed Assets numbers (by line)

Finance manager

The Business object module is integrated with the Fixed assets module. When serialized items are purchased or produced, they become available in inventory and can be acquired.

Post the Inventory to FA journal

Finance manager

The Finance department manually runs the Inventory to Fixed Asset journal to transfer the item value to the acquisition value. After posting, the on-hand quantity is set to zero.

Business objects initially in the Inventory category are updated to Rental after the journal is posted.

Acquire a fixed asset and business object through a purchase order

Finance manager

You can acquire a fixed asset and a business object directly through a purchase order in Rental Management. This process avoids using the Inventory to fixed asset journal.

Note: On the fixed asset line, set the New fixed asset field to Yes and enter a value in the Fixed asset group field.

Provide feedback