Conversion of Stock into Asset

Owned by Gaurav
Jul 07, 2023
2 min read

Overview 

In Vienna Advantage, until now the creation of Asset takes place from Material Receipt or Manual creation. No option was available to convert the stock of product into the Asset, which is a pretty common scenario in business these days. At times the available stock of a certain product is converted into Asset rather than purchasing a new one. 

So, after the Current Enhancement the user is now able to convert the available Stock of product into an Asset. 

Enhancement 

A new window is created for the conversion of Existing available stock into Asset with the Name Stock/Asset Conversion. 

 

Window : Stock/Asset Conversion 

Tab: Stock/Asset Conversion 

  1. In this Tab User Shall select the organisation and corresponding Warehouse in which the stock to be converted is lying. 

  2. A new Base Document has been created for this conversion "Stock Asset Conversion" which shall be used for recording the transaction so taking Place. 

  3. The default account date and transaction date are the current date and can be modified by the user according to his need. 

  4. In the warehouse field only the one as created under the selected organisation shall be listed. 

Tab: Conversion Line 

  1. In this tab the various products which are intended to converted shall be selected along with the relevant locator where they are lying. 

  2. After the selection of locator and product and its corresponding Attribute Instances the system shall fetch the available Qty on that locator. 

  3. User has to select the "Asset Group" in which such product shall be classified and punch in other relevant details. 

  4. The product cost shall be updated based on the Costing Method bind upon the Product Category and as lying on M_Cost. 

  5. Actual Cost is a field provided to the user for entering the cost of the Asset and the same is updated as the Product Cost but it can be modified as per requirement. 

 

After that, On Completion the Asset shall be created in the Asset window with the Cost, Life Use and In Service date as punched in by the User. The Other fields relating to Depreciation Rule/Amortisation Template, owned, Asset type shall be updated Based upon the Asset Group Selected. 

 

The posting shall be done based upon the Rules and conditions as defined by the User. 

 

The Asset created shall lie in the same Locator as the Product.  

To Move it to some other locator User shall have to Use the Inventory Move Window for the same and after that the New Locator shall be updated on the Asset respectively.