Stock-to-Asset is a unique functionality developed to help companies or teams that must fuse inventory management and asset management efforts. The feature reduces management overhead related to accounting for each process separately and delivers a simplified, operationally efficient tracking solution.
Combined Inventory and Fixed Asset Control
Depending on your business process, you may need to track certain items or products as both stock inventory and assets. For example, your products are assembled or received and then stored in your warehouse inventory. Those products will be issued to a customer and installed at the customer’s location, with a foreseeable useful life of over a year. Therefore, inventory levels must be adjusted and the product reclassified as a deployed asset that requires tracking and management.
Stock to Fixed Asset Benefits
This transaction or conversion allows you to search for a serialised inventory item issued to a customer or location and assign it an asset number and model number. The quantity and associated cost are automatically adjusted in the inventory database, and you can begin tracking pertinent asset attributes such as maintenance, warranty and location.