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
    working.
     
    Michael Dobony, Jan 15, 2011
    #1
    1. Advertisements

  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
    #2
    1. Advertisements

  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
    #3
  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
    #4
  5. Michael Dobony

    Guest

    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
    Regards
    Brooke
     
    , May 22, 2014
    #5
    1. Advertisements

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments (here). After that, you can post your question and our members will help you out.