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FA write off process

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Hi ,

i am new to navision. Can any one help me for write off the fixed assets, journal entries to post. My company wants to write off some of the fixed assets.

Thanks,

Mahesh 

  • Community Member Profile Picture
    Community Member UG Leader on at
    RE: FA write off process

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  • RE: FA write off process

    Thanks for your all help..

    Thanks,

    Mahesh

  • RobertasR Profile Picture
    RobertasR 5,000 on at
    RE: FA write off process

    Yes, that is correct.

    Robertas

  • RE: FA write off process

    Hi Robertas,

    Thank you very Much. Now i am able to post disposals and asset value is going to be Zero.

    But i have one small question. if have post disposal for $0 the remaining book value of the asset is going to post Gain/Loss Acc . and the asset value is Zero , accumulated depreciation and depreciation is Zero. Is that correct?

    Thanks,

    Mahesh

  • Verified answer
    RobertasR Profile Picture
    RobertasR 5,000 on at
    RE: FA write off process

    Hi Mahesh,

    your Account Type should be 'Fixed Asset' and Account No. - the number of the fixed asset to dispose. System will work out where to post the disposal value based on the setup.

    Robertas

  • RE: FA write off process

    3482.Error.png

    Hi Paras Mehan,

    Below mentioned error i am getting while write off or disposing the asset.

  • Verified answer
    RobertasR Profile Picture
    RobertasR 5,000 on at
    RE: FA write off process

    The difference between write-off (write-down) and disposal is:

    - Write-off credits your Balance Sheet Write-down account, debits P&L with the same amount

    - Disposal reverses (credits) Acquisition balance sheet account, reverses (debits) Depreciation balance sheet account and debits P&L with the difference

    If you want to decrease value of FA, without reversing acquisition and depreciation balance sheet accounts - then write-off is the way.

    Make sure that the Write-Down Account and Write-Down Expense Account are defined in the related FA Posting Group.

    Robertas

  • Suggested answer
    Paras mehan Profile Picture
    Paras mehan 3,518 on at
    RE: FA write off process

    what error its showing at the time of posting?

  • RE: FA write off process

    Hi Robertas,

    Thanks for quick reply. i want write off the assets not to dispose,what ever the asset cost , accumulated depreciation  and depreciation value write down to zero. when trying to post FA G/L Journal it is not allowing to post my FA journal. Is there any setting need to change in GL set up.

    Thanks,

    Mahesh

  • Suggested answer
    Paras mehan Profile Picture
    Paras mehan 3,518 on at
    RE: FA write off process

    Hi Mahesh,

    Go to FA GL Journal and create line for that and also mention FA Posting type as a write down in line and post.

    You also can use disposal to write off total value of that FA.

    If Once you posted disposal for that FA then system will not allow you to post any transaction in future for that particular FA Card.

    Best Regards,

    Paras Mehan

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