Fixed Assets Transfer

We are a Wireless Internet Company, and we are new to use Manager for our accounting and assets management. Our main issue is to manage our Inventory/Assets and a little bit confused between both of them. As we do not sell our devices to our customers but just give it to them against a security deposit. That security deposit is to be refunded to the customer at the time of returning the equipment.
The other thing is Inventory Transfer, like in Inventory we have the option to Move Inventory from one branch to the other, is it possible to manage the assets same way. Because we do not sell the equipment so its the company assets. A little help in this regard will be highly appreciable.

We have multiple Towers installed with multiple BTS and Multiple CPEs (Customer Premises Equipment) and Wifi Routers that we want to manage. Help Please as right now we have the records of that equipment in EXCEL SHEETS.

No.

Read the Guides in the Asset Registers category.

Thanks, i will read that too

Use custom fields to capture the location of fixed assets. The location can be an individual, a department, or even a customer.

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Then you would record those devices as Assets rather then Inventory as you still own them.
However, having said that, once a device is delivered to a customer is it of any asset value to the business, for example, if returned would you send that device to a second customer ?

Yes, but that depends if the financial accounts need to reflect the business assets as a whole or segmented by location (branch).

That is, how much do you want to have the financial accounts micro manage the assets. Let say you have 50 Device A, based at various locations. If a few units get transferred between locations, does the financial accounts need to reflect that transfer. Or does the financial accounts remain at the gross quantity, which then gets reconciled to the spreadsheets which details the individual location quantity and maintains any transfers without affecting book values.

However, if the financial accounts need it by location, then set up the assets using Custom Control accounts, so that each location would have its own Custom Control account for its assets. If a asset is transferred then amend its location via a Journal Entry, which does the same thing as an Inventory Transfer.

You would create the asset at the new location, do the Journal Entry transfer using the book value, and then dispose of the asset at the old location.

And that maybe the best place, but that depends on the earlier question, what does the financial accounts require.

@Qamar_Ahmad, you received apparently conflicting answers to this question. So let me clarify.

My β€œno” answer was from the context contained in your post, where you mentioned inventory transfers and asked if you could manage fixed assets the same way. There is no equivalent transaction in Manager that moves assets between locations the way an inventory transfer moves inventory items.

@Brucanna’s β€œyes” answer was from a broader perspective, explaining how you could set up the ability to track fixed assets in different locations using control accounts. That method will certainly work. But as you can see, it does entail more work to set up and execute than an inventory transfer, with its dedicated functional tab.

@Brucanna’s final comment is important. It matters what your financial accounts are required to show. If accounting at the gross level is sufficient, @Abeiku’s suggestion of a custom field allows you to keep track of asset locations within Manager just by editing the asset definitions. In that case, it would be most convenient if the custom field were set to show as a column. Then, you could see locations when you first open the Fixed Assets tab, sort by those locations, search for them, etc.