How to Implement Fix Asset ?

[Former Member]

Hi Experts,

What is the easiest to implement Fix Asset? Let say i'm planning to implement it this month (Oktober), so far

i have uploaded the asset class and account determination using DTW, and then I have upload the FA master until December 2007 using "Import FA master data".

so what is the next step?

I have to add the Assets purchased in 2008, what is the easiest way to do that? Can I upload it? or should i create the FA master and acquisition one by one? and should i leave the Fix Asset mode on transfer during acquisition?

Please Help!

Regards,

David

[Former Member · Accepted solution]

Dear Ivy,

Thanks for your answer.

Okay let's say i will do acquisition one by one. what should i do after that? should i reverse the journal entry that was made for purchasing the assets? or can i reverse the journal created by the acquisition process?

The same thing goes for the depreciation journals. Do I need to reverse the depreciation journal that created before and do the depreciation run. or I can do the depreciation run and reverse the journal created.

Regards,

David Novianto

PT Mitra Inti Solusindo

[ivy_zhang · Accepted solution]

Hi David,

Based on your description, it seems the JE of aqusition and the amount depreciated in current year has been posted into G/L.

If so, you can either reverse the JE of purchasing or the JE of Aquisition.

To manually reverse the JE of Aquisition, open the JE generated from Aquisition, and cancel it.

And you still need perform 'depreciation run' which will make system calculate the posted depreciation amount.

You can either reverse the JE of depreciation which you have posted or cancel the JE generated from depreciation run.

The result is the same. Just see which one is convenient for you.

However, please note that 'depreciation run' is run for all fixed assets. So, you have to manually calculate the amount to be revesed for the assets purchased in 2008.

The above steps is to ensure you account balance matched.

I hope this anwsers your questions.

Regards,

Ivy Zhang

SAP Business One Forums Team

[Former Member · Accepted solution]

Hi,

I have successfully ran the FA depreciation, upon checking the details for each JE created I have noticed that I had not check the summarise by profit center before running the depreciation, because of this I want to cancel the latest run and execute it again. Can you guide me on what are the steps that I have to make?

thanks in advance.

[Former Member]

Okay thanks Ivy

[ivy_zhang]

Dear David,

Regarding the fixed assets you purchased in 2008, we suggest you to create new assets in Fixed Assets MAster data and create 'Aquisition' for them.

The fixed asset master data import function is designed for legacy data importing. If you insist on importing an asset for the current fiscal year, there are some limitation. You have to make sure the depreciation start date is the first date of current fiscal year and the Remaining Life is the same as the Useful Life. That means the asset has to start their depreciation form the first date of current year.

The mode should be changed to 'production' before acquisition, otherwise, no Journal Entry will be posted for 'Aquisition'.

The mode should be changed to 'transfer' only when you import fixed assets. And do not forget to change it back.

Regards,

Ivy Zhang

SAP Business One Forums Team