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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Fixed asset account gr...
Microsoft Dynamics GP (Archived)

Fixed asset account group - asset cost account incorrect

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Posted on by Community Member

Good morning,

Our company uses GP2013.  I'm trying to clean up the fixed assets that were originally setup.  On one of the fixed assets I'm reviewing, in the Asset General Information --> Go To --> Account, within the Account Group Setup, under the Account Numbers: --> Asset Cost, the account number was erroneously set to Buildings.   This should have been set to Building Improvements.  I know I can change the account number here, but is there a way to reverse the original FAADD transaction within the fixed assets module/subledger?  The original FAADD transaction shows:

Debit  Buildings

Credit FA clearing

I would like to reverse this entry and correct it with:

Debit Building Improvements

Credit FA clearing 

Depreciation has been posted for several months but I was able to reverse those going through the FA subledger and posting those to the GL.  Any fixed asset changes I'm trying to keep those within the FA subledger as much as possible.  Thanks for your help! 

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  • Verified answer
    rgambaro Profile Picture
    rgambaro on at

    The only way that I've been able to accomplish what you want to is manipulate the Cost Basis on the asset Book window.  While the Buildings account is assigned, you would set the Cost Basis to 0.  You would then assign the Building Improvements account and set the Cost Basis back to what it should be.  The only other way would be to make a manual entry on the GL.

    If you prefer to do it through the sub ledger, I would strong recommend that you do it in a test company first, as you would be changing a depreciation sensitive field.  You would need to verify that after recalculating, the depreciation wouldn't change from how it was previously calculating.  

  • L Vail Profile Picture
    L Vail 65,271 on at

    I think you can accomplish this with the mass change transaction. Create an asset group for the assets you need to change and then apply the changes. When you interface to the GL, an entry will be created to adjust the GL and move the assets to the appropriate account. Definitely try this on a test company first, there is no 'undo'. As far as the GL is concerned, you shouldn't go behind the scenes and change the account index, let the FA module make the adjustment.

    Leslie

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