How to buy and stock assets¶
There are three ways to create an asset in Viindoo Accounting: enter it manually, let a vendor bill create it, or allocate a stocked product to use with an Asset Allocation transfer. Use the vendor bill for items you do not stock (land, services, long-term prepaid expenses) and the transfer for equipment you receive in your warehouse first.
Who does this: an accountant with the Accounting Assets Management right (vendor bills), and an Inventory user (transfers). Applications: Accounting, Purchase, Inventory.
Before you start
This tutorial requires the installation of the following applications/modules:
Purchase and Auto-fill asset category on vendor bill (the asset category follows the product onto the vendor bill)
Inventory and Stock Asset (asset allocation transfers)
How do I create an asset manually?¶
How do I create an asset from a vendor bill?¶
Use this method for items that are not stocked before use, such as intangible fixed assets, tools and long-term prepaid expenses.
Example: You buy 2 licenses of an accounting software at 18,000,000 VND each. The licenses are an intangible fixed asset worth 36,000,000 VND that you depreciate over 24 months.
Step 1: Create the product
Configure the asset category first, then create the product. On the product, choose a product that does not track inventory (for example a service) and set its Asset Category (field below the expense account, visible to accountants). If you leave it empty, you can choose the category on the vendor bill line.
Step 2: Create and confirm the vendor bill
To create a bill, navigate to Accounting > Vendors > Bills > New. The Asset Category of the product is filled in on the line. When you create the bill from a purchase order, Auto-fill asset category on vendor bill does the same.
Note
When a product is chosen, its details are reflected on the vendor bill. Configuring them on the product beforehand saves time.
Click Confirm. The bill status changes from Draft to Posted and a View Assets button appears.
Click View Assets to open the asset, created in Draft with the information of the bill and of the asset category. (If Auto-Confirm Assets is enabled on the category, the asset is already Running.) Each bill line creates one asset whatever its quantity: the original value of the asset is the total of the line, here 36,000,000 VND for the 2 licenses.
The list of the assets of your company is in Accounting > Accounting > Assets.
See also
How do I create an asset from a stocked product?¶
Use this method for equipment that you receive in your warehouse before use. Example: you buy 2 tablets at 20,000,000 VND each; they are received in the warehouse and then put into use.
Step 1: Create the product
See How to create a new product. The product must:
track inventory, with tracking By Unique Serial Number (or by lots);
belong to a product category with the Automated inventory valuation, which Viindoo requires for asset allocation;
have Valuation by Lot/Serial turned on (Inventory tab, Traceability section), so that each unit carries its own acquisition cost into its asset; turn it on before you receive the units;
have an Asset Category (you can also choose it on the transfer).
Also turn on Storage Locations and Lots & Serial Numbers in the Inventory settings: the Asset Transfers menu is only visible with Storage Locations.
Step 2: Buy and receive the product
In the Purchase application, create a purchase order and validate the receipt with the serial number of each unit. See how to buy a storable product.
Step 3: Create the bill
Create the vendor bill from the purchase order and post it. A bill line of a product that tracks inventory does not create an asset: the asset is created by the allocation below.
Step 4: Allocate the asset
The allocation uses the Stock Asset module. Install it from Apps, see How to install, upgrade and uninstall apps and modules.
Create a new transfer: navigate to Inventory > Operations > Asset Transfers > New.
Fill in:
Operation Type: Asset Allocation. The destination is the Asset Location.
On the Operations tab: the Product, the Asset Category (default: the one of the product) and the Demand.
Click Mark as Todo. Viindoo reserves the units from stock: the status becomes Ready and the Quantity column shows the reserved units. Click Details at the end of the line to open the Detailed Operations window: its Pick From list shows the serial number of each unit taken from stock. Change a serial number there if you want to allocate other units.
Click Validate to confirm the transfer. The status becomes Done and the Assets button of the transfer opens the assets created.
The list shows one asset per serial number, each with the cost of its unit.
The full list is also in Accounting > Accounting > Assets, where you can start depreciating them.
Expected result¶
A posted vendor bill line of a product without inventory tracking creates one Draft asset worth the total of the line.
A validated asset allocation transfer creates one asset per unit.
Common mistakes¶
The Asset Transfers menu is missing - turn on Storage Locations in the Inventory settings.
Please enable Product Traceability on … product! - set a tracking by serial number or lot on the product.
The product ‘…’ of the transfer ‘…’ must be configured in automated valuation method! - set the product category valuation to automated.
The product ‘…’ of the transfer ‘…’ must be configured with Valuation by Lot/Serial, … - turn on Valuation by Lot/Serial on the product.
The following field on Product is invalid: Asset Type - fill in the Asset Category on the product or on the transfer line.
No quantity available in stock with Lots/Serial Numbers ‘…’! - receive the units in the source location first.
Next steps¶
See also
Related article
Optional module