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Fixed Asset - Individual Material and Inventory ID

Jun 13, 2017 at 04:38 PM

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Hi experts,

Could anybody please explain what is the individual material and inventory ID in Fixed Asset master? As far as I understand, the values does not equal to my fixed asset ID. The explanation provided from Help center is as per below:

a) Each individual material is managed with a status, which describes the current condition of an individual material from an accounting perspective.

b) For inventory purposes, an inventory ID can be assigned to each individual material.

Question:

1) Why in the migration template, I need to enter inventory ID instead of fixed asset ID?

2) When the fixed asset is migrated, the inventory ID and Fixed Asset ID is different. So how system derives the value?

Appreciate if anyone could answer the above.

Thanks

DK

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1 Answer

Harshal Vakil Jun 14, 2017 at 03:57 AM
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Hello Dk,

In general, you create the fixed asset with the reference to an individual material. however this individual material can not be seen in the inventory valuation work center -> Materials view. All the postings for the fixed asset will have reference of the individual Material and recorded against the fixed asset ledger.

where as Inventory ID is stored in they system for reference only.This will allow you to uniquely identify asset in the inventory specially for the asset with existing ID in legacy system.

1) Why in the migration template, I need to enter inventory ID instead of fixed asset ID?

A : in the migration template, it is assumed that the asset in the legacy system will already have a reference number which will be used here to identify the asset.

2) When the fixed asset is migrated, the inventory ID and Fixed Asset ID is different. So how system derives the value?

A : Yes, they will/can be different as Inventory ID is used as a reference number to the asset in legacy system. When asset is created in Bydesign system, system will generate the asset ID from the number range.

I hope this will answer to your questions.

Regards,

Harshal

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Hi Harshal,

Thank you for your answer. Sorry but I need further clarification.

1) Can I say that Inventory ID is the Fixed Asset number of the legacy system?

2) What is the difference between subasset and Individual material? Each subasset also will have 1 individual material?

3) What is the relationship between subasset, individual material, and fixed asset? Understand that I can transfer 1 individual material to 1 subasset, but what is the difference if I put all the individual materials under one fixed asset?

Thanks

Regards,

DK

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Hi DK,

1) Inventory ID can be asset number of the legacy system or the Inventory number in the legacy system.

For example : Laptop, In the legacy system you may have laptop created as asset 123. However when the same has been stored in warehouse, you may be storing that as 456. (For example bar code number).

So its up to business how they would want to track them in Byd After migration is complete.

2) Sub asset is the part of the asset.

Take an example of the Desktop Computer, Here computer will include Keyboard, Screen, CPU, Mouse etc. If you wish to manage the part of the Laptop as individual assets, you can create them as sub asset. Individual material is base of any assets.

So the depreciation calculation, Acquisition amounts of an asset are all linked to an individual material. So when you create the new sub asset, it will have its separate individual material.

See help center Document : Assets and sub assets

3) If you create separate sub assets for each individual material, you will have a better control in terms of depreciation calculation (you can have separate depreciation method, useful life) which will not be possible when you assign all the individual material to a singe fixed asset.

If all the parts of the asset will be having same depreciation calculation and life, you can have them assigned to single asset.

I hope this will answer to your questions.

Regards,

Harshal

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