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FA Posting Groups

Posted on by 66

Hello All,

Great Day!

In BC, we have FA posting group for Fixed Assets. Can anyone explain the purpose of the columns and guide me on how to map the G/L?

For example, 

Acquisition Cost Account - Which is used for recording purchase & acquisition transactions.

Depreciation Account - To record Depreciation.

Gains Acc. on Disposal - To record gains at the time of sales.

Losses Acc. on DisposalTo record losses at the time of sales.

Columns like,

Acq. Cost Acc. on Disposal - ?

Accum. Dep Acc. on Disposal  - ? 

Acq. cost Bal. Acc. - ?

Depreciation Exp Acc. - ?

Kindly tell me the purpose of the above-mentioned columns.

pastedimage1610350256710v1.png

Should I have to map all the accounts?

Thanks & Regards,

  • Revan Jaunt Profile Picture
    Revan Jaunt 66 on at
    RE: FA Posting Groups

    Hi Steven,

    Thank you so much for your response!

    The information you provided is very helpful and I learned new things from this.

    Once again thank you!

  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: FA Posting Groups

    Revan,

    The FA Posting Group is like the General Posting Setup or Inventory Posting Setup in that it relates the fixed asset transaction to the correct G/L Account. I normally fill in all of them, except Maintenance if I am not posting Maintenance entries. I also setup 1 FA Posting Group by my Assets Type or different Chart of Accounts (i.e. Buildings, Leasehold Improvements, FF&E, Machinery, Automobiles, etc..). Here is an overview of the main columns:

    pastedimage1610376719568v1.png

    Acquisition Cost - This is Balance Sheet Account where Fixed Assets are reflected (additions)

    Accum. Depreciation  - This is the Balancing Account when running and posting Depreciation. This account appears in the Balance Sheet next to Acquisition G/L Account

    Acq. Cost Acc. on Disposal - This is the G/L Account that when a Fixed Asset is disposed will record the reversal of the Acquisition Cost. In other words, its a contra-account to the Acquisition Account. Normally, this account is the same as the Acquisition Cost account, unless you like keeping it separate.

    Accum. Depr. Acc. on Disposal - This is the G/L Account that when a Fixed Asset is disposed will record the reversal of the Accum. Depreciation. In other words, its a contra-account to the Accum. Depreciation Account. Normally, this account is the same as the Accum. Depreciation account, unless you like keeping it separate.

    Gains Acc. on Disposal/ Losses Acc. on Disposal - Both of these are the G/L Account that when a Disposal is posted record the NET Gain or Loss on Disposing the Fixed Asset. In most cases the G/L Account is the same. To determine a Gain or Loss you take the Acquisition Cost minus Accum. Depreciation = Net Book Value. Now take the Net Book Value and apply any proceeds received for disposing the Fixed Asset. If the proceeds are greater you have a Gain and if less you have a loss (i.e. Acq. Cost = 10,000, Accum Depr = 5,000, NBV = 5,000, Proceeds = 2,500, Loss of Disposal = 2,500). 

    Depreciation Expense - This is the G/L Account used when posting Depreciation Expense.

    Hope this answers your question.

    Thanks,

    Steve

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