Asset Retirement

[Former Member]

Hi Gurus

I am Getting A Problem While POsting Asset Retirement, As it Is giving the Error While GiVing The Fixed Asset Gl As Follwing

Rules for posting key 50 and acct 3520500 set incorrectly for "XAABG" field

Message no. F5272

Diagnosis

One of the rules specifies that the field demands a required entry, the other rule says that the field is to be suppressed.

Procedure

Correct one of the two rules for the field selection.

You find the field status group in the G/L account master record:

Execute function

You can find the rules for the field status group in the Financial Accounting Implementation Guide in the activity Maintain field status variants.

You can find the posting key in the Financial Accounting Implementation Guide in the activity

Define posting key.

I had Checked the FSG And The Posting Key But I am Unable To Solve The Error Plz Help

I had Changed the Field Status Of asset Retirement Field As required

If It Is The Mistake I had Removed it , Where As I am Not Getting the Field retieremnt In the Sale Of Fixed Asset Screen

Regards

Prasanna

Edited by: prasanna raj on Oct 13, 2008 8:02 AM

[Former Member · Accepted solution]

hi prasana

go to OB41

and select posting key 50 and select maintain field status group and select Asset retirement field is optional

i think it is very useful for you

sudhakar.r

[Former Member · Accepted solution]

Hi Friend I had Done It What U Have mentioned but the problem is even though i had selected the retirement check box also it is asking tht "posting is possible via revenue accounts'

as following

Posting retirement only possible via revenue account

Message no. AA354

Diagnosis

You have tried to post to an asset by entering a credit posting key and a retirement transaction type in the footer. However, it is not possible to post retirements in this way.

Procedure

If you are dealing with a retirement with revenue, then you can start the retirement by selecting the field 'Asset retirement' in the revenue account screen. For a retirement without revenue, choose in the Asset Accounting menu -> "Postings" -> "Ast. Ret. by scrapping".

plz help in this issue

points have been assigned

thanks regards

prasanna

Edited by: prasanna raj on Oct 13, 2008 11:19 AM

[Former Member · Accepted solution]

Hi prasanna,

Working transaction F-92.

First line

Post on a debtor with posting key 01

Second line:

Post on your P&L accounts for your asset sales account PK 50

On the next screen you fill in the values and click the Asst retirement (dont fill in an asset number)

enter and you are going to pop-up.

Fill in

Asset number

Trans. type (210)

Compl. retirement (or not)

[Former Member · Accepted solution]

hi Paul Thanks For the timely respnse, i had posted the asset retirement

but the question is the posting s done with out giving the 3 rd line item like poting key 75 asset account and the transaction type

can you plz me y it come like tht

and the entry is as follows canu explain me the line items

001 01 0009500000 BENCHMARK ASSET MAN 8,000.00

002 50 0003520500 Sale Of Fixed Asset 8,000.00-

003 75 0002113800 000003100004 0000 10,000.00-

004 70 0001590090 000003100004 0000 508.00

005 40 0003520500 Sale Of Fixed Asset 8,000.00

006 40 0004420300 Loss-Sale Of Fxd A 1,492.00

'llbe appreciated

regards

prasanna

Edited by: prasanna raj on Oct 13, 2008 11:41 AM

[ambrish_nigam · Accepted solution]

While going for Asset Retirement with Revenue TType "210", one has to use the asset account. The Process for Post with Revenue :

01          Asset Debtor Account               Dr. (Consideration Value)

50          Revenue Account                      Cr. (Consideration Value)

Tick on Asset Retirement Box.. which opens the Asset window, allowing to add asset no, value date or Asset Retirement portion "Amount posted" (complete / partial) in case of complete retirement there is a "TICK" box, else proportional Retiring Value can be given(e.g., if The Original Asset Value is 10000 & you want to retire only 20% then you have to use 2000 in the "Amount posted" window, simulate & check the value of Loss / gain & value of depreciation reversed.

the Error message could be if you are using 75 Asset No. n place of 50 Revenue Account. Test is for desired result

[ambrish_nigam · Accepted solution]

When we go for posting a retirement of asset with revenue, 2 sets of process takes place.

                                                                             Loss                         Profit

a.    01    Customer                  Dr                            5000                        15000

       50    Revenue                    Cr                           (5000)                      (15000)

b.     75   Asset                         Cr.                        (35000)                      (35000)

        70   Accumulated Dep.       Dr.                        27000                        27000

        40   Revenue                      Dr.                         5000                         15000

        50   Profit                           Cr.                                                         (7000)

        40   Loss                           Dr.                         3000

We add both the options a & b, exactly the same result we get for Asset Retirement with revenue

[Former Member]

Hi Prasanna,

In the T.Code: F-92 asset sale with the customer :

Select the customer and specify the value in the next line select the GL Account 'Revenue from the sale of asset' with posting key '50' there you will find the asset retirement option check that one and assign the asset id and transaction type '260' if the asset acquired in the current year and sold with revenue and specify the percentage as 100 and simulate the transaction. verify the accounting entry.

Eg: Asset value :100500 Acc.Depn:15075 Sales Value :100000

01 Customer Dr (Sales value) 100000

50 Revenue from Sale of asset (Sales value) 100000

70 Acc.Depn. (Value till the date of sale) 15075

75 Asset (Value of the asset) 100500

40 Revenue from sale of Asset (Sales Value) 100000

50 Gain or Loss on sale of Asset 14575

Thanks,

Padmaja N

[Former Member]

Thanks for the reply points have been assigned

[Former Member]

Hi,

Can you assign a field status group with all fields optional to 3520500.

The field XAABG is for me unknown (is not in BSEG)