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hi,
We are currently looking to Microsoft to update Great Plains to conform with the new requirements of IAS 16 around the holding of information on Fixed Asset Revaluations - see below
Has anyone come up with a solution to this. We are making adjustment manually through GL after a revalued asset has activity against it, and holding the original Cost in an unused field. We also have an alert that notifies that the asset has been revalued. Not exactly the best solution when responding to a prospect or customer. Any help would be appreciated to streamline this or please log as an enhancement request with microsoft
IAS 16.77
If items of property, plant and equipment are stated at revalued amounts, the following shall be disclosed:
(a) the effective date of the revaluation;(e) for each revalued of property, plant and equipment, the carrying amount that would have been recognised had the assets been carried under the costmodel; and
(f) the revaluation surplus, indicating the change for the period and any restrictions on the distribution of the balance to shareholders
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Good Day Craigde, Has your development team come up with a solution yet on the IAS 16 Revaluating of Assets on Great Plains?
Hi Duke.
Following is the link to the requested white paper:
http://download.microsoft.com/documents/UK/dynamics/whitepapers/compliance-culture.pdf.
Have nice Friday,
Atta-Ur-Rahman
Can you give me the link to that white paper? Tks
Thanks for the version info. I have a request into the dev team to see what they may be planning. I'll let you know once I hear back from them
Hi,
Thanks for note. Yes I had seen this. The answer provided for revaluations was to directly journal this to 'General Ledger'. Unfortunately this is not what our accountants want, as it takes the control away from Great Plains and will require them to hold additional information and calcultions outside of GP in excel for example. As well as using GP internally we are also a reseller and will have to compete with solutions that can do this though FA.
We are currently running v.9 (soon to be upgrading to v.10)
Cheers .. Andy
Cheers .. Andy
A couple of clarifying questions Andy
Once I know that I will talk to dev and see what I can find for you
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