Managing inventory often requires flexibility, especially when products need to be repurposed for long-term use. In such cases, the conversion of products to assets feature in Orderry helps ensure your serialized products are accurately tracked and managed.
Who is the conversion of products to assets suitable for?
Rental and leasing. If you plan to rent out unsold products (such as bicycles), you can convert them into assets for accounting purposes within rental orders.
Servicing household appliances. If a client comes to you with a previously purchased appliance (e.g., a coffee machine), you can create an asset based on the product to record its servicing or repair with detailed costs.
The same principle can be used to convert a product into an asset in:
automotive parts stores that provide services;
air conditioning, ventilation, and heating services;
construction and repair companies;
home appliance stores with installation services, etc.
How to convert a product into an asset
Imprtant: Conversion of Products to Assets is available only for serialized products, because we can guarantee that the inventory and physical products match only when a unique serial number is assigned to an item.
The “Can convert products to assets” permission must also be enabled in the “Inventory” section of the role settings. This permission will be assigned automatically if the “Can create products” permission is already enabled in the role.
To convert a product to an asset, do the following:
1. Open the product unit passport.
⚠️ Please note: you cannot convert a product unit from an open order. To convert a product that is added to an order, you must first close the order or delete this product from it.
2. Click Actions > Convert to asset.
3. The window for converting a product to an asset opens with the following fields.
Owner - is automatically filled in depending on who owned the item:
The company ("We") will be indicated as the owner of such an asset if the product is in the company's warehouses. In this case, the owner cannot be changed.
The client or supplier will be indicated as the owner of such an asset if they were the owner of the product at the time of its conversion. In this case, the owner can be changed.
The Serial number, Photo, and other filled fields that are identical to the fields in the asset form will be automatically pre-filled with information from the product description. All these fields can be edited.
You can fill in the rest of the fields if necessary.
4. Click Convert.
After successful conversion, a conversion document will appear in the product unit passport, as well as in the asset history, indicating:
the date and time of conversion,
information on the product,
Information on the asset,
the employee who performed the conversion.
You can also find all conversion documents on the Inventory > Conversions page.
Clicking on the product name opens a dialog for viewing the product.
Clicking on the serial number of the product opens the product unit passport.
Clicking on the serial number of asset opens the asset view window.
Remember: you cannot delete the product-to-asset conversion document. If you need to cancel the conversion, you can do so by converting the asset to a product.