Inventory to Asset

Welcome to AlignBooks. We are happy to have you on board. In this help studio tutorial, we will explore the “Inventory to Asset” memo preparation options.

Before we begin, let us understand about the need of Inventory to Asset Entry and the relevance of this particular activity.

All the purchase of Item are recorded directly in Inventory module, if any Asset item is purchased it will be received as inventory but then you need to convert that Inventory as Asset Item for tracking of Asset in-hand position and to calculate the depreciation of the particular asset item. Through this module of AlignBooks you can enter your asset details.

You can create a “Inventory to Asset” click

under “Asset Module”

from menu of AlignBooks.

The key functions of Inventory to Asset Module are:

· Creation of a New Inventory to Asset,

· Deletion of an existing Inventory to Asset.

Configuration:

AlignBooks provide you the facility to configure your Inventory to Asset documents with respect to choice of maintaining multiple series of documents, choice of sending Email and SMS on creation/edit/approval of the document and for Approval System setting etc.

Click on “Configuration” to configure this document. Click here “How to Configure a Document”, to know more about this utility.

Let’s now understand how to create a New Inventory to Asset in simple steps

You have one way to prepare an Inventory to Asset module;

· Enter fresh data for the first time;

Let’s enter the fresh set of data for the first time;

Location / Branch

Under this field, You can select the location, if you are handling Multi Locations. System will ask for this information only if you have configured Multi Locations - "ON” under General Setup and System will fill the default Location if you have configured the Default Location under Data Access Rights.

If your desired Location does not exist in the menu, you can create a New Location by clicking on

option within the dropdown menu. You can also Edit or Delete a Location from Here. Select a Location to be edited / deleted and then click on

. The Location will be opened in Edit mode and you can edit it and save by click on

. You can delete it by click on

Warehouse

If you have Multi warehouses, select the required ware house from the drop down menu.

This field is available only if you have configured Manage Warehouse : “ON” in Inventory Setup. Also, this field will not be available in Invoice if you have configured Stock posting on : "Dispatch” in Sales setup.

Invoice Date

: Enter the date which you wish to reflect in the document. By default, the system will take the current date. You can also pick a different date by just clicking on the calendar function

Invoice No

: System will generate voucher number based on the Voucher Numbering configuration, if you have opted to maintain "auto prefix” and “auto numbering”.

Prefix : While configuring your document, if you have opted to “maintain manual prefix”, select a prefix from the drop down list. If the required prefix does not exist in the list, you are able to create a new one by clicking on

Icon or

option within the dropdown menu and input a name. This field will not be available if you have opted "Not required".

Number: While configuring your document, if you have opted to “maintain manual numbering”, enter a document number here.

Remarks

: Input here any remark pertaining to the document.

Inventory Item

: Select the item purchased. You can Add, Edit or Delete an item by following the process described under Location Tab.

Asset Item

: Select the Asset item purchased. You can Add, Edit or Delete an item by following the process described under Location Tab.

Quantity

: Here enter the quantity to be converted.

Cost Per

: Enter the cost incurred per asset item.

Opening Depreciation

: Enter the Opening Depreciation Amount.

Depreciation Month

: Specify the balance Useful life of Asset in months.

So far we have entered the relevant details to clearly identify the Inventory to Asset. We will now look into the individual Asset code.

Click on Button

Once you click OK button system will generate the New Asset No. and Asset Item Code for each Asset for the quantity mentioned above. You can input the value against each Asset.

Asset Detail Grid

: Let us understand the column of the Table.

Column Name	Column Type	Description
S. No	Non-Editable	This field display the Serial No.
Asset Item Code	Non-Editable	This field display the auto generated code for each asset item.
Asset No	Non-Editable	This field display the auto generated Serial No for each asset item.
Purchase Bill No	Editable	Here Enter the Supplier Invoice No through which you have initially purchased this Item.
Purchase Bill Date	Editable	Here Enter the Supplier Invoice Date through which you have initially purchased this Item.
Vendor	Editable	Here Enter the Supplier Name through which you have initially purchased this Item.
Hands in Position		User Defined Fields
Fixed Item Attributes 1-5	Editable (if Applicable)	User can create custom fields to capture the current in-hand position like issue to branch or employee, make / model no of Asset etc. To Enable the Fixed Item Attribute, Go to Configuration >> Company Setup >> Inventory >>Fixed Item Attribute.

Save Voucher

: Click on the button to save the document prepared by you.

Print Voucher

: Click on this button to save voucher and Print the document prepared by you. Click here “Print Utility”, to know more about this utility.

You have completed creation of New Inventory to Asset.

Clear Detail

: Before clicking this option make sure that the data entered is no more required by you; the moment you click on this option the system will erase all the data and give you an empty screen to enter fresh data.

Mail / SMS

: Click on this Button, If you want to send a Email (with Attachment). Click on

beside Mail and click on Email Link (Email with Link included for Document Print) or click SMS.

Schedule Document

: If you want to create a schedule for this document, click on

. Click here “Schedule a Document”, to know more about this utility.

Document History

: Click here to know the History of the Document for date and time of creation / modification / delete / cancel / restore. This button will be active only when document is open an existing document and when Manage Document History : “ON” in General Setup.

Import Voucher (Excel File)

: Click on this button to Import Data and select a file from which Data is to be imported. Click here “Import Utility”, to know more about this utility.

Open Document

: Click here to open an existing Invoice. Click here “Open a Document”, to know more about this utility.

Delete Document

: If you wish to delete any existing voucher, open an existing voucher and specify the reason for delete in "Edit Remark" field then Click on this button

to delete the Voucher.

Copy Document

: Click here to copy the values from an existing Invoice. Click here “Copy from a Document”, to know more about this utility.

Cancel Document

: If you wish to cancel any existing voucher, open an existing voucher and specify the reason for cancel in "Edit Remark" field then Click here

to Cancel the Voucher. when you cancel a document then document status will update as "Cancel" and All financial / stock impact (whichever applicable) will reverse for this voucher.

Restore Document

: If you wish to restore any existing voucher, open an existing voucher and specify the reason for restore in "Edit Remark" field then Click here

to Restore the Voucher. when you Restore a document then document status will update as "Open" and All financial/stock impact (whichever applicable) will be restored for this voucher.

We hope you enjoyed this tutorial. Please give us a call for further help. Happy Aligning!

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