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Suggested answer

Fixed Asset : Credit / Debit related

Posted on by Microsoft Employee

I have a fixed asset acquisition cost which was debit in the accounting book but shows as a credit in the tax book. Is there a setting somewhere that has caused this value to flip to a credit in the tax book?

The journal is posted

  • Suggested answer
    Gaurangkumar Jani Profile Picture
    Gaurangkumar Jani 4,470 Super User on at
    RE: Fixed Asset : Credit / Debit related

    Hi Anubha,

    This happens only if there in an issue in posting profile of Tax book and the same book is also assigned as derived book.

    Please update your posting profile.

    Thanks,

  • Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: Fixed Asset : Credit / Debit related

    Hi Anubha Gaur,

    Can you share some screenprints / details please?

    Many thanks,

    Ludwig

  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: Fixed Asset : Credit / Debit related

    Fisset Asset journal : Source Document

  • Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: Fixed Asset : Credit / Debit related

    Hello Anubha Gaur,

    Can you please share the acquisition voucher and the transaction origin of that voucher?

    Some screenprints would be great.

    Many thanks,

    Ludwig

  • Alireza Eshaghzadeh Profile Picture
    Alireza Eshaghzadeh 10,873 Super User on at
    RE: Fixed Asset : Credit / Debit related

    What is the source document? vendor invoice journal or fixed asset journal?

    Do you use customization for import of fixed asset acquisition cost?

  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: Fixed Asset : Credit / Debit related

    Hi Alireza

    No we are not using PO

  • Suggested answer
    Alireza Eshaghzadeh Profile Picture
    Alireza Eshaghzadeh 10,873 Super User on at
    RE: Fixed Asset : Credit / Debit related

    Hi Anubha Gaur,

    Check how the source document (e.g.vendor invoice journal) is posted with sales tax.

    For example, in my test I have posted a vendor invoice journal. Vendor CC and Fixed Asset DD in one line:

    pastedimage1632753847545v1.png

    Then you can check the posted "Sales tax" and vouchers.

  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: Fixed Asset : Credit / Debit related

    Will check.

    What we have to check in the source

  • Suggested answer
    Alireza Eshaghzadeh Profile Picture
    Alireza Eshaghzadeh 10,873 Super User on at
    RE: Fixed Asset : Credit / Debit related

    Hi Anubha Gaur,

    Can you elaborate this issue?

    Do have posted this acquisition cost via PO? If yes please check the source to find posted sales tax.

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