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My customer wants to distribute FA costs to multiple projects which will be defined in financial dimension.
For example, they buy a car at $2400, depreciate over 5 years, use the car with 2 different projects.
(1) Could the acquisition cost be distributed to each project?
i.e. ) Account # 1210 FA-Vehicle +2400:
Project X +1200
Project Y + 1200
(2) Could the depreciation be distributed to each project?
i.e) Account # 5300 Depreciation cost + 40
Project X +20
Project Y + 20
Account # 1800 Accumulated Depreciation -40
Project X -20
Project Y -20
If such depreciation are supported for FA, could you tell me how to?
The fixed asset is tagged to a value model for transaction recording purposes. One value model can only be tagged to just 1 project dimension at a time. Therefore, all transactions will have to be posted in 1 dimension and then you can use ledger allocation rule to allocate to other project dimension.
Please mark the answer as verified if this resolves your query.
Thank you Syed. I understand the desired steps and think it works for our requirement.
Just knowledge sharing purpose but here's the detail steps to built 'Ledger Allocation Rule' which Syed talked about.
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