How do you accurately account for a fixed asset you built in house? Heres how:

• First step is to use an internal Build to Stock Order to build the equipment/asset into your inventory. Complete/receive it into inventory.
  • You can read about build to stock orders here: https://cetecerp.com/support/how-to/how-to-process-build-for-stock-work-orders.html
  • This will consume the inventory used, and will capture the cost of material and labor into the value of the fixed asset.
  • This will debit your finished goods account, so the next step will be to move that amount from finished goods to a fixed asset account.
• Once that fixed asset is in your inventory, create a new inventory adjustment code.
  • You can do this by navigating to Admin> Data Maintenance> InvShortageReason. Type in Fixed Assets as the name and map it to your Fixed Assets account.
• Go to the part record of the fixed asset and inventory adjust it out using the Fixed Asset adjustment reason.
• This will map the totals to the right accounts by crediting finished goods and debiting fixed assets.