setting up fixed asset in G/L account determination

[Former Member]

hi,

i have SAP business one 2007, but i don't know how to set up fixed asset in G/L account determination. (Administration>Setup>Financials>G/L account Determination).

In G/L account determination, i went Purchasing>General. It says "accounts payable" underneath 'general,' and there is a little thing that i can click on the right side.

it's called 'control accounts - accounts paybable.' the first row says assets account. I know that i have to fill out account number (control account), but it has only two account options. both of them are liability account (a/p). can i fill out asset account here? if so, how can i add the acccount in the list?

thank you.

vanessa

[Former Member]

Matt,

thanks for your help. I want to create an A/P invoice for capital investment as item.

currenty, 1460 account is under asset. If i cannot add 1460 account under "fixed asset" in G/L acct determination, what would be the other option? Creating another 1000 account under liability sounds odd.. if i choose one of a/p acct (2010 or 2015) as fixed asset, that doesn't make sense either since fixed asset is "asset" and accounts payable is "liability" am i right?

vanessa

[Former Member]

Hi Vanessa,

I'm not sure that this is relevant at this stage, certainly not if you want to acquire an asset. Fields in this window is only to set the controlling account for outgoing payments. Are we still talking about fixed assets here, 'cause by the sounds of it you are trying to do a normal AP service invoice on an asset type account, is that correct? In which case you can just select this account when doing the service type invoice.

If you need any further assistance on fixed assets and setup please refer to the online help files on fixed assets.

Hope this helps.

Matt

[Former Member]

Jitin,

thank you for all the info. I tried to define fixed asset account in G/L determination (a/p general). but only options that we have for the asset account is 2010 & 2015, and both of them are liabilities.

I need "1460" account on the list, but it doesn't show up. i'm guessing that's because 1460 is set up as a control account in asset. should i save this account as a control account in liability?

i'm not sure if i can do that... thanks for your help.

v

[Former Member]

Hi Vanessa,

Are you not looking to set up the GL account determination under the fixed assets GL account determination as well? In answer to your question, you will only be able to pick up control liabilities accounts under the field you are looking in as this falls under purchasing. If you have transactions against this account you can't move from assets to liabilities, you will have to create a new account.

Kind Regards,

Matt

[preety_goel]

Hi,

An EES was delivered on the subject on 24.04.2007: Fixed Assets solution for version 2007

Please visit following link:

https://psd.sap-ag.de/PEC/calendar/

Put in keyword search as fixed asset for Business One

Regards

Preety Goel

SAP Business One Forums Team

[jitin_chawla]

Hi,

Please check the following in the TEST Enviorment :

Define payables control account in:

GL account determination -> Purchasing -> General -> Accounts Payable press 3 dots button:-> define Assets Account

Assign this account to business partner also who supplies fixed asset to you.

Open your BP Master Data -> Accounting tab, Click the button beside 'Control Account', You will see a window popup. Set the Asset Account for this Business Partner.

**Suppose you purchase it through AP Invoice functionality**

1.Create Fixed Asset in Item Master Data, checking only Purchase and Fixed Asset check boxes.

2. In the Inventory tab, manage it by Item Level.

3. For all the warehouses, please provide the Expense Account from the GL Account present in Assets drawer, under relevant fixed asset category

4. When you add the AP invoice, look at the journal entry.

It will debit the expense account of the Itam master data, Inventory tab for the selected warehouse. It will Credit the Control Account for Assets Payable

Alternatively; You can add service type invoice select the Relevant GL account from the GL Account present in Assets drawer, under relevant fixed asset category

Hope it would help.

Regards,

Jitin