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How to add a New Asset/Inventory?


Any new asset or inventory can be added by booking an expense and creating the PO/PR/RFQ (Purchase Order/Purchase Request/Request for Quotation) through the Purchases module.

It is not necessary to follow the PR -> RFQ -> PO -> Book Expense procedure.

Instead of PR and RFQ, a PO may be created, and then the expense can be booked.

It is also possible to Book the Expense directly rather than raising a PR/RFQ/PO.

The new asset or inventory, will not appear in the Assets & Inventory module until the Book Expense procedure has been completed.

Note that each account can have only one item mapped to it. 

To create a new account head, click “Add Account” from the drop-down while creating PR/RFQ/PO/Book Expense or go to the “Chart of Accounts” section and create an account.

Process Flow: 

When the PR/RFQ is raised, PO should be created and the same has to be approved.

(It is possible to directly raise the PO as well). After the approval, book the expense against the PO through the “Purchases” module.

Further, the Assets and Inventories added will be listed under the Assets & Inventory module.