Creating an Inventory Asset

Summary:

When creating an inventory asset at receipt. Once the asset is created does the inventory valuation account get adjusted based on the Fixed Assett Creation to ensure the value is not being double accounted on the balance sheet.

Example of Creating an Inventory Asset at Receipt

For example:

1. Purchase a Laptop for $7000 dollars for a quantity of 150 on a Purchase Order with an inventory destination and the item is identified as a Fixed assett through PIM and utilizing the assett clearing account
   
2. The Purchase Order has been receipted into Inventory and Putaway. The Inventory Valuation for the item is = $1,050,000 plus any taxes