What is the best method to Convert Multiple Purchases over to Single Fixed Asset.
A customer buys multiple laptops (Qty 8, similar Class, similar useful life) each at $1,000 on different dates or the same date. What is the best method to convert to an Asset.
Fixed Asset thresh hold to capitalize is $5,000.
- Do you setup an Asset with zero value and convert the 8 purchases as components to one Fixed Asset?
- Or would you setup an Asset with summary amount of $8,000 and then convert purchases as components to this Asset #?
- Or do you setup a Parent Asset then add each converted purchase line amount to an Asset associated with the Parent Asset?
Best answer by KristenSchneiderView original