Hey all, I have a client looking to have 20-50 items be used on a job site then all items moved into a single fixed asset. Is the only way to do this using an assembly item? TIA

Worked with a recycling contractor where they used to take plant and tool at a customer location for few weeks and we used custom record linked to fixed assets for its usage and movement.

@sam1128 thats a good idea. Did it convert to a FA at any point?

My current employer we have gl account called Construction WIP which is tagged to custom site records which have live date. During month end if there are sites which have go live date this month in this GL we create journal to create FA by classification of WIP transaction.

So do the items live in the custom during construction then get moved to FA? Are the items in assembly items?

No items, we use GL which is linked fixed assets in COA and assets type is non depreciating.

Oh ok interesting. My client has 20-50 items which will be used at a site, then when it’s done need to be converted to a FA

Depends what client wants track movement plus depreciation. I’ve seen in the past client using a serialised material custom record to track movements and inventory used to sit on their balance sheet in asset account until it was ready to FA conversation at that point they used to do a inventory adjustment and write off to fixed asset account. That way it was written off from asset account and written on on FA record.

Ok good idea!