Fixed Asset Opening Bal entry dates

(0) Share

Report

Posted on by Anita75

1,165

Hi All,

I have followed guideliens on this and according to documents, to get the opening Asset cost and Accumulated depreciation you have enter a fixed asset journal with 3 lines

1. Acquisition cost

2.Accumulated depreciation end as at end of last year

3. accoumulated depreciation current you till go live

So for example if I have an asset with straight line depreiation 3 years life aquired in 1 Jan 2019 and go live 1 Dec 2020 then do you enter FA journal dates as teh original dates ?

1Jan 19 Acquisition 36000

31 Dec 19 Depreciation -12000

30 Nov 20 Depreciation -11000

I have the same question (0)

All responses (1)

Answers (0)

Suggested answer

JAngle 133 on at

Like (0)

Report

Yes the original dates are correct here. Check that you have turned off integration to the G/L if the balance sheet already has value for the assets. This just posts the entries in the sub ledger. Turn it back on after a successful migration

Was this reply helpful? Yes No