USA Fixed asset vs inventory

[Cubby08]

Hello, need some insight help from all the accounting professionals!

My company bought some same parts as a bulk order from a vendor, these parts will later either be used as part of fixed assets or as R&M parts. Business Units who use these parts as part of their Fixed assets would want to include these charges to the total fixed asset cost. My question is what is the best way to track these parts? What is the appropriate account to keep them? I am sure anyone whose company has inventory and fixed asset will be able to help me! Please help, any suggestions??

 

[Marianne]

I'm not an accountant. It sounds like you just need to take the bulk order and inventory the types of items and code them separately in your chart of accounts. If you need to track them together you might start each account name with a common name and then each individual name. You can't put repair and maintenance expense accounts in the same category as fixed assets. Or at least not that I'm aware of.