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Dynamics 365 Community / Forums / Small and medium business | Business Central, N... / Fixed Asset Tax(VAT) p...
Small and medium business | Business Central, N...
Answered

Fixed Asset Tax(VAT) posting group

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Posted on by Anita75 1,165

Hi All,

When trying to dispose a fixed asset using sales invoice i get the below error:

fixed-asset-Tax-Posting--Group.jpg

I have checked the customer posting groups and they appear correct but I cannot find a way to allocate VAT product posting groups to an asset unlike inventory? Is there a setting where I can define product posting groups to fixed assets or is there another way to resolve this error?

Thanks

Categories:
Dynamics 365 Business Central
  • Suggested answer
    Community Member Profile Picture
    Community Member on at

    Anita,

    Yes, Fixed Asset and when you are recording VAT need to be setup. In the FA General Journal VAT will create the entry, but on the Sales Invoice you need to setup a record. I normally setup this (T = Domestic),

    pastedimage1609801672976v1.png

    Again, you can use the FA General Journal and it will create the VAT entry but if you will use the Sales Invoice, you need to add the setup shown above, since Fixed Assets do not have a VAT Prod. Posting Group.

    Thanks,

    Steve

  • Anita75 Profile Picture
    Anita75 1,165 on at

    Thanks Steve. As per your screenshot if you insert a new row to Tax Posting Setup, how to you associate it and link it to sales invoice line. How does the system know to use "T" when selecting a fixed asset on sales invoice in this example? Only place I can see any linkage is setup in GL accounts as FA themselves do not have a setting for product posting group.  Do we have to allocate "T" asset gain/loss account?

  • Verified answer
    Community Member Profile Picture
    Community Member on at

    Anita,

    Based on your pic, the Customer has a VAT Business Posting Group of DOMESTIC. Now adding the record, in the VAT Posting Setup, of VAT Business Posting Group = DOMESTIC and a blank VAT Prod. Posting Group, it will auto-validate on this record when you enter the Fixed Asset, since this is what its looking for.

    Set this up and test and you will see.

    Thanks,

    Steve

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