How do I convert my current inventory to add it to the cost of my fixed asset?
How can an inventory value be converted tot a fixed asset?
Can you be more specific with what you are trying to achieve?
assuming i have cement and steel rods in my inventory that i have to convert into a house. How do i add the cost of these items into the costing of my fixed asset?
Ah, sounds like you need to use something like a production order. I’ll leave it to someone with more experience of using production orders to comment
No, that won’t work - a production order is used to create an inventory item
Can you give some more details - an inventory item is usually something you hold before selling. If you bought the steel rods to build a house, then they should not be in your inventory. They cost should have been attributed to the cost of the fixed asset directly or to a work in progress account
That is already in the ideas list.
It may be easier to do this with a journal entry. Debit the fixed asset and credit Inventory on hand. That way, you do not need to enable Inventory Write-offs tab if you don’t need it for something else.