Creating Tax asset in AX

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Dear,

I have to create tax asset when acquitting the fixed asset, can you please guide me the steps to create tax fixed asset?

Test Scenario - Ensure Fixed Asset acquistions are automatically creating Tax Assets through both forms of acquisition.

Thanks

Regards,

-Prabhu

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Ludwig Reinhard Microsoft Employee on at

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Hi Prabhu.rengasamy,

Do you really need a separate, i.e. new fixed asset?

I am used to that companies make use of different fixed asset books - one for business and one for tax purposes - to get the tax values incorporated and automatically calculated&posted by AX.

Best regards,

Ludwig

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Hi Ludwig,

I should select book value as SLTAX ( straight line taxt) when I create a journal line with the transaction type as "Acquisition" , please confirm me.

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Ludwig Reinhard Microsoft Employee on at

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Hi Prabhu,

It depends...

Whether you have to select the book 'SLTAX' or any other book when posting the acquisition depends on the linkage that has been established between your books.

Example:

Let's assume that you have a fixed asset book that is used for tracking the value according to business accounting regulations - let's call it BUIS here - that differ from your tax accounting rules ('SLTAX'). Then people often set up the fixed asset book that follows business accounting regulations (BUIS) first and create a derived book for tax accounting purposes (SLTAX). Posting the acquisition according to the book that follows business accounting rules (BUIS) triggers then automatically the acquisition posting for tax book (SLTAX).

The dependency of the books can, however, be switched that the SLTAX book acquisition triggers the BUIS book acquisition. I thus can't tell you what book to select because I do not know the set up of your books.

Can you share those setups?

Best regards,

Ludwig

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Community Member on at

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Hi Ludwig,

Please find the tax setup.

.

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Community Member on at

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Hi Ludwig,

Please find the tax setup.

.

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Ludwig Reinhard Microsoft Employee on at

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Hi,

The tax book is the derived one, which means that you select SL in your journal and AX will create the SL and SLTax postings.

Best regards

Ludwig

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Hi Ludwig,

Thanks for your response.

Is there any main account lined with Fixed asset posting to make sure that the SL Tax posting successful during the Fixed asset acquisition ?

Please help me here.

Regards,

-Prabhu

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Ludwig Reinhard Microsoft Employee on at

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Hi,

Please check under the fixed asset posting profile. In the acquisition section, you should be able to find ledger accounts for both books.

Best regards,

Ludwig

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Ludwig Reinhard Microsoft Employee on at

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Hi Prabhu,

Have you found the set up and could you identify the accounts?

Is there any additional help/support required?

Best regards,

Ludwig

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Hi Ludwig,

Thanks for your steps.I have checked.

The same main account has been configured for the books - SL and SL-Tax, please let me know if it is ok.

Regards,

-Prabhu

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