For each depreciation book, you must set up how you want the program needs to know how to handle various FA transactions for each of the FA posting types. For example, the program needs to know whether the posting should be a debit or credit and whether or not the posting types should be included in the depreciable basis or if it should be part of a gain or loss calculation.
You set this up in the FA Posting Type Setup window. To open this window, on the Depreciation card, click Depr. Book, FA Posting Type Setup. The program contains a default setup that can be used. You cannot insert or delete lines in this window; you can only modify the existing lines.
Showing posts with label Fixed Asset. Show all posts
Showing posts with label Fixed Asset. Show all posts
1. Set up a new fixed asset with number FA000190, and enter ADM in
the FA Location Code field.
2. Create a FA Depreciation Book for asset FA000190. Use the
COMPANY depreciation book and the same depreciation method
and information as FA000090.
You can do this by opening the COMPANY Depreciation Book Card
and clicking FUNCTIONS→CREATE FA DEPRECIATION BOOKS. Select
asset FA000190 in the No. field on the Fixed Asset tab and
FA000090 in the Copy From FA No. field on the Options tab and
click OK to rung the Create FA Depreciation Books batch job.
3. To move 100% of the Acquisition Cost and Depreciation for the
asset, on the Fixed Asset menu click FA Reclass. Journals to open
the FA Reclass. Journal window.
In the FA Reclass. Journal window you specify:
– FA Posting Date – The date of the reclassification.
– Document No. – The document number for the transaction (Do
not use a Document Number if you have this set up in your No
Series table).
– FA No. – The number of the asset you are transferring from.
– New FA No. – The number of the asset you are transferring to
– Description – Text description for the transaction.
– Reclassify Acq. Cost Amount and Reclassify Acq. Cost % –
the amount of the asset acquisition cost to be transferred. This
can be entered as a percentage or an amount.
– Reclassify Acquisition Cost – Use this field to select whether or
not you want to transfer the acquisition cost.
Reclassify Depreciation – Use this field to select whether or not
you want to transfer the depreciation.
It is also possible to reclassify Write–Down, Appreciation,
Custom1, Custom2, and Salvage Value entries.
– Insert Bal. Account –If you have balancing accounts set up in
your FA Posting group you may place a check mark in the field
so the program inserts the balancing accounts; otherwise leave it
blank.
4. After you complete the journal lines, click the Reclassify button at
the bottom of the window.
When you do this, the program will create lines in the FA G/L Journal using the
template and batch you have specified. These lines can be posted against each
other; you don’t need to insert balance accounts.
When you post this FA G/L Journal, both the FA entries and the G/L entries
move from one asset account to another. In several countries you must enter
these reclassifications in your annual FA reports. You can do this by printing the
Fixed Asset – Book Value 02 report. In this report you have the option of looking
at the total of all assets together or at each individual asset. To see the
reclassification entries, insert a check mark in the Include Reclassifications field
on the Options tab.
Firstly, kindly change your FA journal setup at FA, DEPR BOOK code, depr. book, choose FA journal setup.
This is in order to make your journal appears at FA G/L Journal.
Choose gen jnl.templ u are going to use.
After done, pls go to FA reclass jnls at Fixed Asset folder.
Pls choose the FA no that u want to reclass, acq cost or depreciation.
after posting, pls directly go to FA G/L journal to see the result.
If it is correct, kindly post it again, thus in FA list will be updated.
Input beg balance for FA accumulation depre
Posted by mELodYsEasons | 5:41 PM | Beg Balance, Fixed AssetUsing the same template as acquisition cost, but the amount is in negative state.
The function is for reducing the book value to the actual book value.
Error:
FA posting type acquisition cost must be posted in general journal in FA journal line journal template = "assets", journal batch name = "begbal"; line no =10000
Check SME depreciation book card, untick acquisition & depreciation
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