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How to upload opening balance for fixed asset acquisition with old dates like 1/1/1998 or 1/1/1995 without open all these past periods?
I want to make the transactions on recent date 1/1/2019 but the actual acquisition is on very old date? IS IT POSSIBLE ?
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Hi Mahmoud Seddik and alicequ ,
Yes this is possible to record original acquisition date which belongs to past years like 1995, 1998 etc. even though these past days may not be available in ERP system.
You have to do the following.
1) First; prepare your fixed asset opening balance upload template with all fixed assets in a particular date say for example; as on 01-01-2019.
2) Select original acquisition value of each asset and upload the file through fixed assets journal. Post the transaction as on 01-012019. Therefore; once you posted, the acquisition value will be updated in each fixed asset as 01-01-2019.
3) Now, go to Data management. In Entity name field, select Fixed asset book V2 and export the template first.
4) Once exported, you can then fit your data in this template with original acquisition and placed in service date and other details. For example; you have an asset for which original acquisition date is 01-01-1995.
5) Upload this template back through Data management by using the same entity Fixed asset book V2 and you will find the original acquisition date will be updated as 01-01-1995.
Attached is the sample template for your understanding.
Kindly verify the above steps and update us in this forum.
Best regards,
Sourav Dam
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Hi,
I have the same problem. When I uploaded the opening balance, the acquistion date is 2018.12.13, not the actual date 2016.2.3. How can I upload the correct acquistion date? Thanks!
Hello Mahmoud Seddik,
What people often do is the following:
1. Get the net book value of the fixed asset as of 31 December 2018
2. Get the acquisition values of the fixed asset
3. Get the accumulated depreciation of the fixed asset until 31 December 2018.
Once you have those three values you post the acquisition with the acquisition transaction type as of 31 December 2018.
Then you post the accumulated depreciation for all of the years on 31 December 2018 with the depreciation transaction type and finally you run the year end closing process to get the values transferred to the new year on 1 Jan 2019.
Best regards,
Ludwig
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