How about updating this video? There have been many changes in your program in the 5 years since this video was created. It's lacking relativity at this point.
We were thinking of fixed assets being inventory that you're keeping track of, which isn't wrong... but, it's a small detail. You're right, though. Good catch! Alex was thinking more of tracking the inventory of your fixed assets, like all the items you own, etc..
Sorry but fixed assets and inventory by definitio are distinct. Inventory is a current asset because it is expected to convert to cash/be consumed in a year. Fixed assets like cars and equipment are long term assets that are "consumed" through depreciation over their estimated useful lives. In accounting inventory ad fixed assets are defined and distinct. One would avoid saying "inventory of fixed assets". In the demo there were two groups, "Current Assets" and "Fixed Assets". Inventoy inequivocallyl belongs in current.
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I want full software to be used offline. Do you have any type of software like that?
How about updating this video? There have been many changes in your program in the 5 years since this video was created. It's lacking relativity at this point.
this looks nothing like the current version. You really should update your tutorials.
Thank you, Penny! We are working on that and our new tutorials should be released shortly.
I was with you until you said Inventory goes in Fixed Assets. That's a current asset, son!
We were thinking of fixed assets being inventory that you're keeping track of, which isn't wrong... but, it's a small detail.
You're right, though. Good catch! Alex was thinking more of tracking the inventory of your fixed assets, like all the items you own, etc..
Sorry but fixed assets and inventory by definitio are distinct. Inventory is a current asset because it is expected to convert to cash/be consumed in a year. Fixed assets like cars and equipment are long term assets that are "consumed" through depreciation over their estimated useful lives. In accounting inventory ad fixed assets are defined and distinct. One would avoid saying "inventory of fixed assets". In the demo there were two groups, "Current Assets" and "Fixed Assets". Inventoy inequivocallyl belongs in current.