I have a small issue with the inventory item purchased in 2021. It consists of a purchase invoice and some cost invoices attached. It is a car and I would like to change it to the company car now and move it to fixed assets, a cost. The issue is that we have closed the year 2021 and I have locked the data. Both P&L and the balance sheet were sent to the authorities. However, the car has been purchased still in 2021. I can’t change the purchase invoice and remove the assigned inventory item and add it to the new fixed asset, due to the time lock set on 2021. Is there a way in Manager to remove the fixed inventory item (from 2021) and to assign it to the fixed cost in 2022?
How about the journal entry with debit to fixed asset, at cost in the balance sheet and credit to newly crated account - fixed asset, import cost in the P&L cost side?
For the inventory item alone, I could use an inventory write-off and assign it to the fixed assets now. However, it should be the purchase invoice only assigned to fixed costs, while the inventory item consists of the purchase invoice + the import costs.
How about a journal entry with a debit to fixed asset, at cost in the balance sheet and a credit to newly created account - fixed asset, import cost in the cost side of the P&L?
What do you mean by “cost invoices?” There are no such things in Manager.
What do you mean by “assign it to the fixed cost” or “assigned to fixed costs?” Again, there are no such things in Manager as fixed costs.
Fixed assets are not fixed costs. They are capitalized assets that are depreciated over time. Based on your description, you are converting an inventory item to a fixed asset. For that, you need a journal entry. The way to do this was already explained to you in another thread a few days ago. You marked that explanation as a solution to your issue. What has changed? Why are you asking again?
As for your locked financial records, you can simply remove the lock date in Manager, update your records, and reset the lock date. Your problem with having sent financial statements to authorities you will have to solve on your own. The fact is, you made an accounting mistake by not recording the conversion when it occurred. Surely there is a method for submission of corrected statements.
cost invoice is the purchase invoice
fixed cost - I was too quick - it should be fixed asset, at cost.
the other thread was a case where we had a purchase invoice in January and the effective fixed moving date in December. This one has been closed.
And how about the journal entry I have just added to my 1st message. Would it work in theory? So we move part of the cost assigned to the inventory item from fixed assets, at cost to fixed asset purchase cost in P&L?