Fixed asset: Integration with Purchasing

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Posted on by Community Member Microsoft Employee

Hello everyone,

So, I'm still having some fun with my Fixed asset module. I'm not really expert with anything in GP and I try as best as I can to understand the information flows.

I managed to import my data, make GP depreciate pretty much everything the way I needed and I had some fun with the integration of the Purchasing and Payable using the clearing account. But my understanding about those 2 modules is really really low. I understood how to add assets thru them and it worked like a charm. But we were having some questioning about "what if, suddenly, I need to reverse a transaction?". I found out that I have to use the "Return Transaction Entry" window. And I would guess that this window will just decrease my asset account with the amount of the returned item. Right? But then, this will never impact my fixed asset module right? I'll have to delete the asset by myself? Or is there a way to tell GP "eh buddy, you have to delete the assets accordingly with the return transactions". I bet not but I yeah, I read the Ms course and user guide about fixed assets and I was wondering if I missed some precious information.

Question : what would be the appropriate way to remove an asset that had been added through the Purchase Order module? I used the "Capital" checkbox and the clearing account to add it in my Fixed Asset module. Now we have to return the item so the guy responsible of payable make a "return transaction entry". What is he supposed to do? Which account he'll have to use? The clearing account or the asset account? What will I have to do inside my Fixed asset module? This is sadly not really explained inside the documentation. :(

And if someone could also just quickly explain me how the "Returns Transaction Entry" works inside GP, I would appreciate it. Like is it just generating a reverse GL entry? Do I need to post a batch after I posted my "Return transaction"? Because I just made a test to reverse a transaction and the GP account never been credited. So I'm wondering if I did some mistake! :P

Thanks folks!

Regards,

Florence

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Community Member Microsoft Employee on at

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RE: Fixed asset: Integration with Purchasing

Hello Leslie,

We are using the POP with the clearing account. I didn't know there was another way to do it!?

I realized it's not posting directly to the GL but creating a batch. That's why my accounts were not updating properly. But when doing a "return transaction", should I use the clearing account if I used it to capitalize the item to the fixed asset in the first place? And then I use a "retire" feature from the Fixed asset that will post the appropriate GL entry to empty the clearing account and make the adjustment to my assets accounts? That's what I wasn't really sure about.

This morning, we'll put a fresh backup on test server and I'll do some more testing. Maybe they'll never use this feature but it's always good to know how it works just in case they would need it! :)

Thanks for your help. Greatly appreciated!

Regards,

Florence
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L Vail 65,271 on at

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RE: Fixed asset: Integration with Purchasing

The 'Return to Vendor' transaction is what you want. Your GL will be updated, be sure to post the transaction that is created. It may not automatically post to the GL. You have a couple of options in fixed assets. You can use retire the transaction. That will also properly update the GL. Use the clearing account, but double check your transaction before you post it to make sure the proposed transaction is doing what you want. Are you integrating from POP using the PO or the clearing account?

Kind regards,

Leslie