50
Hello,
I just finished setting up the FA cards in NAV. How does one input the legacy assets at gross book value and run accumulated depreciation for prior years? Based on my experience, NAV only allows me to post depreciation only if I enter an asset in the current month. i.e Sept 1, 2021. All help or explanation is greatly appreciated. Thank you!
Best,
Not giving up on my project...
Kami,
No, no risk.
Thanks,
Steve
Hi Steve,
If I turn off the G/L integration, post my fixed assets into the subledger and run depreciation up to the last closed period. Once I turn the G/L integration on to post the current period depreciation, are there any risks that what I previously did in the FA subledger will be posted in G/L? Thank you.
Best,
Kami
Kami,
Cool. Yes, after you load all the Assets and post Acquisition, you can run Life to Date Depreciation thru 08/31/21. Then turn on the G/L Integration and run Depreciation monthly.
Thanks,
Steve
Steve,
I totally understand it now, it finally clicked. I am so sorry for all the back and forth, and misunderstanding. I thought the list was for brand new assets. The silver lining here is that now I have a perfect understanding. I just created two assets, then did the rapidStart which worked perfectly then I ran the depreciation which worked as well. Wow, I am sooo thankful for your responses Steve, appreciate your precious time!
Once I am doing this in the NAV production. Is it ok for me to run the life to date depreciation in the subledger as of 8/31/2021 and starting the Sept close run the monthly depreciation? Is that how you would do it?
So grateful for all your help and guidance Steve!!
Best,
Kami
Kami,
Yes. You need to create all the Fixed Asset cards. In your initial forum entry, you said you finished setting up FA cards. The Rapid Start will create FA Ledger Entries for the Acquisition based on the dates you provided. You are not overwriting anything since this is the initial Acquisition journal load. If the error is it does not recognize the Fixed Asset No., what did you create? The FA No. should be that of all the Asset Cards you created.
Steve
Steve,
I understand what the issue is. I believe that my first step is to create the legacy fixed assets in the FA card. The second step is to post the FA Journal via using the RapidStart. When I look at the error message it is telling me that it does not recoginze the asset number. So basically the rapid start will overwrite the posting date of the legacy assets that I create in the FA card. Thank you. Will I be able to post depreciation for prior years?
Best,
Kami
Kami,
Please do not use my Asset and replace back with your First Asset No. As for the Errors, did you resolve them? You click on the Red number, and then click Show Error. You have to fix the error for all this to work.
Steve
Kami,
When you click Apply Date did the message state all your records inserted or do you have Errors?
Mine will not import because the FA No. I do not have so the 26 errors would be correct.
Does your entry look like this below. I fixed 1 Asset to match one of mine so to show you it will insert. Please check the Errors and fix them.
Thanks,
Steve
Stay up to date on forum activity by subscribing. You can also customize your in-app and email Notification settings across all subscriptions.
#1
André Arnaud de Cal...
291,280
Super User 2024 Season 2
#2
Martin Dráb
230,214
Most Valuable Professional
#3
nmaenpaa
101,156
Share
Report
All responses (
Answers (