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

Convert fixed asset to inventory

The Business object module is fully integrated with the Fixed assets module. Serialized items that are purchased or produced become available in on-hand inventory and can be acquired.

The Finance department manually runs the Inventory to fixed asset journal to transfer the item's value. The journal sets the acquisition value to the current cost value. After posting, the on-hand quantity becomes zero.


Finance manager Finance manager Start Start Create the FA to Inventory journal header Create the FA to Inventory journal header Transfer a fixed asset to inventory at its net book value. The business object status changes to Inventory. The net book value is set to zero. Quantity is set to 1, and cost price is based on the asset’s net book value. Procedure 1. Go to Business objects > Journals > Fixed assets to inventory. 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 FA to Inventory journal lines Create the FA to Inventory journal lines Procedure 1. Go to Business objects > Journals > Fixed assets to inventory. 2. Click Lines. 3. Click New. 4. In the list, mark the selected row. 5. In the Item number field, enter or select a value. 6. In the Site field, enter or select a value. 7. In the Warehouse field, enter or select a value. 8. In the Location field, enter or select a value. 9. In the Serial number field, enter or select a value. Post the FA to Inventory journal Post the FA to Inventory journal This activity sets the status of the business object to Inventory. As a result: The net book value is set to 0. The inventory quantity is set to 1. The cost price is set to the net book value of the fixed asset. Procedure 1. Go to Business objects > Journals > Fixed assets to inventory. 2. In the list, find and select the desired record. 3. Click Lines. 4. Click Validate. 5. Click OK. 6. Click Post. 7. Click OK. End End Is the fixed asset being sold immediately? Is the fixed asset being sold immediately? Sell a fixed asset through a rental order Sell a fixed asset through a rental order Sell a fixed asset directly through a rental order in Rental Management.When the serial number is entered on the order line, the system retrieves and converts the related fixed asset. The conversion journal is automatically created and posted at delivery.Note: You must change the order line type from Rental to Sales/Purchase before confirming and delivering the order. Procedure 1. Go to Rental order management > Rental orders > All rental orders. 2. Click New. 3. In the Customer account field, enter or select a value. 4. In the Expected off-rent date field, enter a date. 5. Click OK. 6. On the Action Pane, click Invoice. 7. In the list, mark the selected row. 8. In the Order line type field, select an option. 9. In the Item number field, enter or select a value. 10. Click Order line. 11. Click Dimensions. 12. Select the Serial number check box. 13. Click OK. 14. In the Site field, type a value. 15. In the Warehouse field, type a value. 16. Click the Fixed assets tab. 17. Click Rental. 18. In the Serial number field, enter or select a value. 19. Click Save. 20. On the Action Pane, click Rent. 21. Click Confirm. 22. On the Action Pane, click Pre-rental. 23. Click Post packing slip. 24. Click No. 25. Click OK. 26. Click OK. No Yes

Activities

Name Responsible Description

Create the FA to Inventory journal header

Finance manager

Transfer a fixed asset to inventory at its net book value.

The business object status changes to Inventory. The net book value is set to zero. Quantity is set to 1, and cost price is based on the asset’s net book value.

Create the FA to Inventory journal lines

Finance manager

Post the FA to Inventory journal

Finance manager

This activity sets the status of the business object to Inventory.

As a result:

  • The net book value is set to 0.
  • The inventory quantity is set to 1.
  • The cost price is set to the net book value of the fixed asset.

Sell a fixed asset through a rental order

Finance manager

Sell a fixed asset directly through a rental order in Rental Management.

When the serial number is entered on the order line, the system retrieves and converts the related fixed asset. The conversion journal is automatically created and posted at delivery.

Note: You must change the order line type from Rental to Sales/Purchase before confirming and delivering the order.

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