How to record Fixed Asset Donation entries in FA G/L Journal

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Posted on by Community Member

Hello,

What posting type should I select in the FA Journal line to record entries for donation of a fixed asset. When I run the test report I get a warning message FA Posting must be specified in fixed asset journal lines

Thank you

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Indikauk 1,759 on at

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Hi Eri

By Donating you are trying to Remove 1 Fixed asset from the list of fixed asset so it is also the type of Disposal (Loss of Asset, Sales, Donation) all can be Consider as Type of Disposal.

In Simple Anything Remove From Fixed Assets List Will Be Disposal Type,

New Purchase = Acquisition Cost

Value Addition to Asset = Appreciation

Hope You know the Depreciation

Thanks

Indika.

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Community Member on at

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Thanks, though the we don't want the fixed asset to record as loss when disposed rather we transfer the amount to expense account without passing entry to Gain/ loss account. How would NAV handle this scenario.

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Alexander Ermakov 28,096 on at

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Eri, this is just a matter of setup of the disposal account. As Indika suggested, you would need to dispose the FA, but make a setup of the disposal account as needed expense account. Refer more here for details: https://msdn.microsoft.com/en-us/library/hh165686(v=nav.90).aspx

Alternatively, you can write-off the residual value of FA to expense account: msdn.microsoft.com/.../dn397550(v=nav.90).aspx

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