Inventory to Fixed Asset

Discussion in 'Quickbooks' started by Michael Dobony, Jan 15, 2011.

  1. How do I move inventory to fixed assets? The journal entries are not
    Michael Dobony, Jan 15, 2011
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  2. Michael Dobony

    Laura Guest

    do an Inventory adjustment instead of a journal entry since you need to
    specify an Item to adjust. Point the offsetting account to Fixed asset.

    Just curious...why would you need to do this?
    Laura, Jan 16, 2011
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  3. Residential property initially purchased as a flip. Didn't sell and instead
    rented it out. It is no longer inventory, but a fixed asset. Recording as
    inventory made the most sense as it matched the purpose of the purchase.
    Michael Dobony, Jan 16, 2011
  4. Michael Dobony

    Laura Guest

    It is possible to do an inventory adjustment to the Fixed asset account.
    QB will give you a warning message because the adjustment is not being
    done to an income or expense account but you can just ignore it.
    Laura, Jan 16, 2011
  5. Michael Dobony


    Hello Laura,
    I have a similar issue. Our business is part hire and part sales. Currentlyall the stock is in inventory and I have to manually do hire outside and workout depreciation outside of the quickbooks program. Would you be able toexplain this in detail - I am able to reduce inventory but I can't get it to appear in the fixed assets. Please email back at the following
    , May 22, 2014
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