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Dynamics 365 Community / Forums / Finance | Project Operations, Human Resources, ... / Acquisition of Asset V...
Finance | Project Operations, Human Resources, ...
Answered

Acquisition of Asset Via journal for 2 books

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Posted on by praveens007 16

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

PS

  • Verified answer
    praveens007 Profile Picture
    praveens007 16 on at
    RE: Acquisition of Asset Via journal for 2 books

    Dear Ludwig.

    As instructed earlier to add the GL account attached to the other book i did that and the error vanished. Thanks for your help.

  • Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: Acquisition of Asset Via journal for 2 books

    Hi PS,

    Did you make any progress here?

    Have you been able to figure out the problem?

    Would be great if you could keep us informed.

    Best regards,

    Ludwig

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: Acquisition of Asset Via journal for 2 books

    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

  • praveens007 Profile Picture
    praveens007 16 on at
    RE: Acquisition of Asset Via journal for 2 books

    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

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: Acquisition of Asset Via journal for 2 books

    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

  • Suggested answer
    SouravDam Profile Picture
    SouravDam 11,723 on at
    RE: Acquisition of Asset Via journal for 2 books

    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.

    pastedimage1590694581291v1.png

    Best regards,
    Sourav Dam

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

  • praveens007 Profile Picture
    praveens007 16 on at
    RE: Acquisition of Asset Via journal for 2 books

    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.

  • praveens007 Profile Picture
    praveens007 16 on at
    RE: Acquisition of Asset Via journal for 2 books
    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
  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: Acquisition of Asset Via journal for 2 books

    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

  • Suggested answer
    SouravDam Profile Picture
    SouravDam 11,723 on at
    RE: Acquisition of Asset Via journal for 2 books

    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".

    05732.JPG

    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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