We manufacture goods that are not sold, but rented for 36 month terms. I have been managing the rentals using the “Delivery Note” as the contract and make invoices off of the note. This works well for what we are doing and provides a decent mechanism to keep track of the remaining term as well as how much has been invoiced against the contract. Once an item has been rented I create an installation note and move the item(s) to a “Rented Units” warehouse.
We’ve now migrated to v11 and would like to take advantage of the improvements in the asset management features like depreciation, asset locations etc.
My question: Is there a way to convert our existing finished goods stock (both rented units and those not rented out yet) to assets? If there is no way to do this on the front end, what sort of back-end database entries would be needed to convert the Item Master and existing stock of that Item to be assets?
Any suggestions are welcome!