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Hello,
I am trying to post my "Aquire" journal entry in the test environmentt and I keep getting this error message. As far as I know, I have set up all the tables related to the Fixed Assets. Any response is truly appreciated. Thank you!!
Hello,
Your Acquisition Entry is not correct. Let me explain. First, the Fixed Asset Card, have you created it for the Asset to be Acquired? If yes, your Depreciation Book, for the Fixed Asset I am guessing is GAAP. Is the Depreciation Book Integrated to the G/L flagged = TRUE? If yes, then you must first use the Fixed Asset G/L Journals. This is because the Acquisition Entry will book the the General Ledger and Sub-Ledger (Fixed Asset). Your Entry above has the Account Type = G/L Account and the Bal. Account Type = G/L Account so therefore no Asset is being posted too and the Depreciation Book Code is invalid. The entry will look like this:
My Bal. Account No. offset to the G/L Account the actual Purchase Invoice dollars posted too, maybe a CIP or Clearing account. If the Purchase was already posted to the G/L and you only want to create the Fixed Asset to begin depreciating, you can book the above in the Fixed Asset Journal and the entry will look like this:
Hope this helps.
Thanks,
Steve
Hi Kami,
Below error is showing that in Line 1 please check depreciation field, in that field remove the value currently i.e. "GAAP', and then try to post that.
Hope this will helpful.
Please mark verify if this will helpful to you.
Thank You
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