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Former Member
Feb 27, 2009 at 04:12 AM

Inventory Item becomes Asset

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Hi,

What do I do if I used one of my inventory item as my asset? What are step and accounting transaction I need to do?

I have a little idea,

Perform a good issue, to minus quantity in my inventory:

Cr Inventory : $17800

Dr Inventory Decrease : $17800

Then I should perform a journal for my asset acquisition:

Dr Fixed Asset: $17800

Cr Inventory Decrease: $17800??

Is that right? I don't use fixed asset module by the way.

Thanks!

Kevin