Acquiring fixed assets

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Posted on by NZNZ123

Hey All

Would greatly appreciate your assistance for a query i have.

I am loading the assets into the fixed asset module, when i create new, it automatically assigns "SL" so i create the asset, with the details, costs etc.. i then need to "acquire" the asset via the journal.

I then need to create a tax book for it, so i create the tax book, but i also need to "Acquire" the asset again.

Am i unnecessary doubling the work? It appears so, but the fact when i initially create a new asset, it assigns "SL" automatically and i cant even change that as it greys out.

Is it the configuration or am i just doing something incorrectly?

Thanks so much!!

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MATTGUO 22,349 Moderator on at

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Hi,

For Tax book, it will post to tax posting layer:

docs.microsoft.com/.../posting-fixed-asset-transactions-to-posting-layers

axfinance.blogspot.com/.../posting-layer-ax-2012.html

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NZNZ123 90 on at

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Thanks but not the answer i was looking for. It does not allow me to even get that far. I add new asset and it automatically assigns "SL".

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saurabh bharti 15,039 Moderator on at

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Hi,

Service life is associated with Books and Asset Group combination, So, If you have two different books one for Tax and one for other purpose , while attaching these books to Asset group , specify the required SL.

Here is the one blog which might help you:

exploredynamics365.home.blog/.../

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MATTGUO 22,349 Moderator on at

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Hi,

The book can be associated with Fixed asset groups, you can specify the book in Fixed asset groups. That is why it automatically assigns "SL".

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NZNZ123 90 on at

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Thanks, but do i still need to do the acquisition journal twice? one for the accounting book and then again for the tax book?

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NZNZ123 90 on at

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Main question is, do i still need to do the acquisition journal twice? one for the accounting book and then again for the tax book? This does not tell me that..:)

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MATTGUO 22,349 Moderator on at

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Good Morning,

Yes, you need to post twice.

In your case, the Acquisition journal of accounting book have been posted, then the tax book is added, and you need to post acquisition journal of tax book again.

If the tax book is the derived book of accounting, and Acquisition journal of accounting book is not posted before tax book is added, then just post the Acquisition journal of accounting book, then tax book will be automatically included and posted.

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saurabh bharti 15,039 Moderator on at

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If you have already posted acquisition journal for the asset then you need to post for tax again.

If not, then in the books, please define tax book as derived book. When you will post acquisition for normal book, automatically for tax book also it will get posted.

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NZNZ123 90 on at

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ok thank you so much :)

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NZNZ123 90 on at

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Cool thanks! D365 is not an easy accounting system to use! i think its stupid! :)

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