Quick Tip Migration of Fixed Assets – Special Transactions
If your ByDesign implementation does not start with the beginning of the fiscal year, then you might come across special requirements for migration of the Fixed Assets.
In this case I want to share findings from a project where the customer had a fiscal year equal to calendar year. The migration was done with key date June 30th. There were fixed assets, which were sold by end of February (before migration date). The fixed asset was already retired, but 2 month of depreciation had to be posted in the year.
How can this be handled in ByDesign:
- Download the extended migration template for fixed asset (create a new Unit
for Migration of Transaction Data)
- Fill the master data as usual and enter in addition following information:
- Tab: “Sets of Books”:
Here the Deactivation Date and Last Retirement Date have to be provided.
- Tab: “Asset Posting Lines”:
Maintain the standard migration entries. In my example the historical costs and
historical depreciation as per start of the fiscal year are entered.
As the fixed asset is sold as per end of February, I enter the depreciation for January and February.
All 3 lines haveto be “cleared” when the retirement takes place. So there are 3 lines (credit the historical costs,
debit of historic depreciation and debit of the current year’s depreciation).
There are more special cases, e.g. where the correct Movement Categories and Line Item Types might not be clear.
To get then post a concrete example in the test system and check the postings in the “Fixed Assets - Line Items” report.
In this example the data look as following:
3. Maintain remaining migration templates for the corresponding migration unit and execute migration as usual.