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Integrating Fixed Assets with Maintenance Equipment. Can an Equipment record automatically be created when we generate a Fixed Asset?
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Best Answer
The product you purchase would be configured as
- a Consumable
- with an Expense Account set to the Fixed Asset account
1. Add a custom field linking the Fixed Asset to an Equipment record.
2. Use the Automation Framework to create an Equipment record each time a Fixed Asset is created, using your field to link the two:
** Consumables are excluded from your Inventory valuation - because they have no current asset value - but using them in this way allows their purchase price to generate a fixed asset value once the Vendor Bill is recorded.