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ERPNext Asset Value Adjustment Implementation Expert, Union Mercantile Solutions

ERPNext Asset Management 5 (Asset Value Adjustment & Selling an Asset)

Asset Value Adjustment If the value of an Asset changed suddenly due to any damages, it can be recorded using Asset Value Adjustment. In case of fixed asset management, sometimes the value of an asset needs some adjustment. For example, if a laptop gets damaged for some reason, and its value will be dropped instantly. And in that case, we have to readjust the value of the asset. 1. Prerequisites… Read More »ERPNext Asset Management 5 (Asset Value Adjustment & Selling an Asset)

ERPNext Asset Movement by Implementation Expert, Union Mercantile Solutions

ERPNext Asset Management 4 (Asset Movement)

Asset Movement refers to moving an Asset from one Location to another. In ERPNext, you can track the location of an asset or to whom it is issued. For tracking, you need to create an Asset Movement transaction, whenever the asset is moved from one location to another. You can also keep a track of issuance of an asset to any employee. To make an Asset Movement of a number… Read More »ERPNext Asset Management 4 (Asset Movement)

ERPNext Assets Management Implementation Expert, Union Mercantile Solutions

ERPNext Asset Management 3 (Asset Maintenance)

Asset Maintenance refers to any activity done on Assets to maintain their performance or condition. ERPNext provides features to track the details of individual maintenance/calibration tasks for an asset by date, the person responsible for the maintenance, and future maintenance due date. 1. Asset Maintenance For each asset, create an Asset Maintenance record listing all the associated maintenance tasks, maintenance type (Preventive Maintenance or Calibration), periodicity, assign to and start… Read More »ERPNext Asset Management 3 (Asset Maintenance)

ERPNext Asset Item Configuration and Implementation Expert, Union Mercantile Solutions

ERPNext Asset Management 2 (Purchasing an Asset)

Purchasing a New Asset:  Following accounting entries will be posted on submission of the Receipt entry if Capital Work In Progress Accounting is enabled in the Asset Category of the purchased asset. It is noticeable here that, instead of corresponding asset account, Capital Work in Progress (CWIP) has been debited. It is because, asset has been just purchased and it is still not available for use. Until the asset is… Read More »ERPNext Asset Management 2 (Purchasing an Asset)

ERPNext Assets Management Implementation Expert, Union Mercantile Solutions

ERPNext Asset Management 1 (Asset Lifecycle)

An Asset is any valuable Item owned by a Company. Examples of Assets include furniture, computers, mobile phones, printers, cars, etc. Assets may be leased to be used by the employees of a Company. In ERPNext, the Asset record is the heart of fixed asset management. All the transactions related to an Asset like purchasing, sales, depreciation, scrapping, movement, or maintenance will be managed against the Asset record. 1. Types… Read More »ERPNext Asset Management 1 (Asset Lifecycle)