Acquisition of Asset Via journal for 2 books

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Posted on by praveens007

Dear Sir

i want to create another book for local GAAP and apply the depreciation for the asset.

I did the following

Create a seperate Book

Attached the book to the new Asset

Created a additional Posting Profile for the new book using new Accounts

Attached both the books to the new asset

But when i create a new Acquisition journal via Journal. I only get 1 book. Should i manually create 2 enteries during acquisition in the book. If so then will not the acquisition amount doubled in the offset account.

Please help

regards

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P.k.Kaushik 1,031 on at

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Hello,

Please make sure in the Books you have created, Posting layer are different, as seen below, 1 is current and 2 is Tax

Now create 2 Journals, one in posting layer current and another in posting layer Tax

Now when we post an acquisition journal using the Tax journal, Trial balance of the current layer wont be effected

I posted the below acquisition entry using the Tax posting layer

Now i ran the Trial balance in the current layer, and both debit and credit entries of 5900 was not present

However if you run if for Tax posting layer, you can see the entries in Trial balance

Please try and Test environment and see if it works for you.

Thanks, Kaushik

This post is my own opinion and does not necessarily reflect the opinion or view of my company or Microsoft.

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praveens007 16 on at

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Dear Kaushik

Thanks for the response. But what i need to ask is that i dont want to use a seperate posting profile. What i have done is in the same Fixed Asset Posting Profile i have added the book and mapped the new GL accounts. Now i would like that when i run the Acquisition Journal Will both the books show up there? The the seperate book is cretaed only for the SLM method where the service life of the asset is more as per local GAAP and as per IFRS its less. So 2 different SLM.

Hope to hear from you.

regards

PS

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SouravDam 11,730 on at

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Hello praveens007,

You can connect the other Book with the current Book of the asset in Derived Books section.

Now this other Book may carry different depreciation profile as per the requirement.

But when you post the acquisition journal with the fixed asset where the derived books are already linked; then automatically the same acquisition value will be updated in both Books for this asset.

Below screen shot is from D365 for your understanding. In AX, the name of Books is "Value model".

Kindly check and update in the Forum.

Best regards,
Sourav Dam

Kindly mark this thread 'Yes' if this is answered your query which may help other community members in this forum.

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Ludwig Reinhard Microsoft Employee on at

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Hi PS,

When you use more than a single book you have to ensure that the books and their linkage is correctly setup.

Otherwise, you have to do a lot of manual postings.

I would recommend that you have a look at this post, which explains the use of multiple books for fixed assets.

https://dynamicsax-fico.com/2018/09/25/parallel-accounting-financial-statements-part-1-2/

Best regards,

Ludwig

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praveens007 16 on at

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Thanks a lot Sourav.

I am not getting the below message while posting the Acquisition.

Please help

Message details

Posting results for journal batch number ITO1-JB-000037255

The posting is done using sales tax voucher .

Voucher ITO1-FAA-000000143

Account for transaction type Acquisition, book LOCITGAAP, does not exist for fixed asset ITO1-BNI-00019.

regards

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praveens007 16 on at

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hi Sourav thanks for the help. Now i am getting the below message.

Message details

Posting results for journal batch number ITO1-JB-000037255

The posting is done using sales tax voucher .

Voucher ITO1-FAA-000000143

Account for transaction type Acquisition, book LOCITGAAP, does not exist for fixed asset ITO1-BNI-00019.

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SouravDam 11,730 on at

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Hello praveens007,

Please check in Fixed asset posting profile setup if main accounts are selected for this asset group in transaction type "Acquisition" or not.

Example below.

Best regards,
Sourav Dam

Kindly mark this thread 'Yes' if this is answered your query which may help other community members in this forum.

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Ludwig Reinhard Microsoft Employee on at

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Hi praveens007,

Can you share some screenprints of your setup?

From what you mention, I would expect that the derived value models are not correctly configured.

Also share your posting profile setup.

Many thanks,

Ludwig

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praveens007 16 on at

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Dear Ludwig

This has resolved my issues. As adviced by you andSourav i had gone and done the changes in the depreciation profile and it worked. Now i have a one more scenario where i have old fixed asset which were acquired under current posting layer. But now i want to acquire the same acquisitoin value posted to the new Book. But i cannot do the acquisition with the normal method since its already acquired in the old book. So i manually change the book in the acquisition and try to post the value backdated from the acquisition date it gives me the following error.

Fixed asset ITO1-BNI-00003, book LOCITGAAP. There is a discrepancy between the journal operations/tax Current and the book operations/tax Operations

Please help

regards

PS

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Ludwig Reinhard Microsoft Employee on at

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Hi PS,

From what you write, I get the feeling that there is something wrong with the general setup of the module. You can of course switch settings to get things fixed but when it comes to fixed assets, you usually talk about mass data and I don't think that those changes/workarounds will help in the long-term. They can only be emergency 'fixes'.

I would thus recommend that you have a look at the MS docs and MS learn sites and compare your configuration with what is illustrated and described there.

Best regards,

Ludwig

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