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How to configure the Fixed Asset posting profile, especially for disposal of fixed assets based on the two different methods. i.e. Net method and Gross Method?".
As one of my clients is looking to account different asset group based on the method.
Example:-
1. For Building group, Gross method is followed at the time of Sale.
2. For Computer group, Net method is followed at the time of Sale.
Please let me know how to configure the FA posting profile and what are all the posting types to be considered.
Appreciate your response.
Regards,
Sandesh
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Hi Sandesh,
The Gross Method is what I would call 'standard' and you can find that in the Microsoft Contoso demo companies such as USMF.
The net method differs from the gross method in a way that no difference is made between the original acquisition value and the accumulated depreciations. That is, the net method directly posts the depreciations to the acquisition account. This makes it difficult from an accounting perspective to follow up the fixed asset values from an account level and you have to use reports if you want to investigate your fixed assets. The setup is very easy as you need less accounts compared to the gross method.
Does that answer your question.
Best regards,
Ludwig
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