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Dynamics 365 Community / Forums / Microsoft Dynamics NAV (Archived) / Fixed Asset
Microsoft Dynamics NAV (Archived)

Fixed Asset

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Posted on by Sumit Singh 10,193

Dear All,

There is one issue related with the fixed assets. This is the scenario:-

We need to sale some FA's and post sales invoices accordingly but later customer refused to purchase the same. So, user post the sales credit memo instead of cancelling the FA entries. Now the situation is this, on the fixed assets card Gain/loss on FA card is showing while I check the statistics on the FA card which should not be shown. 

Please help.

Thanks in advance

Regards,

Sumit 

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    AJAnsari Profile Picture
    AJAnsari 5,754 on at

    The customer has worked themselves into a corner here.

    Here is a simpler fix:

    I would use Journal entries (General Journal or Sales Journal) to essentially wipe the slate clean/correct the issue as it impacts the Customer Ledger and the General Ledger. The Fixed Asset ledger already shows the asset as disposed.

    Then block and rename the old asset, create a new Fixed Asset to replace the old one, fill out the important details like Depreciation Book, Depreciation Method, Start Date for Depreciation, No. of Depreciation Years, etc.;

    Then, temporarily uncheck the FA G/L integration (at least for Acquisition and Depreciation) from the Depreciation Book that is integrated to G/L. Then use the FA Journal (not the FA G/L Journal) to book the Acquisition Cost journal entry using the acquisition date as the posting date, (these do not have to balance against a G/L account like a FA G/L Journal entry would), and post all the depreciation entries as individual entries with respective posting dates, or as one lump-sum entry with the accumulated depreciation amount with the final depreciation date as the posting date. Be sure to populate the proper Depreciation Book value and repeat the process for other Depreciation Books if you depreciate an asset multiple ways (for Book and Tax). Post the FA Journal entries.

    Then go back to the Depreciation Book and re-enable the G/L integration options.

    This restores your asset's acquisition cost, book value, etc. without upsetting the General Ledger, and you can then do what you need to from that point on.

    I hope this helps. If my response has answered your question, please verify by clicking Yes next to "Did this answer your question?"

  • Sumit Singh Profile Picture
    Sumit Singh 10,193 on at

    Thanks for your reply

  • Paras mehan Profile Picture
    Paras mehan 3,518 on at

    Hi AJ Ansari,

    After posting Acquisition cost from FA Journal, while am trying to post depreciation cost then error is coming as (Before posting Depreciation you should need to post Acquisition cost) but i had already posted the acquisition cost.

    Please give any suggestion.

    Thanks.

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