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Error "Account for transaction type Revaluation, book LOC, does not exist for fixed asset"

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Posted on by mafalda

Hi all,

When attempting a Reclassification of a fixed asset, I am getting the error message "Account for transaction type Revaluation, book LOC, does not exist for fixed asset".

How can I solve this?

Thank you.

Regards,

Mafalda

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Ramit Paul 22,799 Most Valuable Professional on at

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Hello Mafalda,

Can you check the posting profile if the configuration for the fixed asset group is correct?

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Ludwig Reinhard Microsoft Employee on at

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Hello Mafalda,

That error message seems to be triggered by an incomplete fixed asset posting profile setup.

Can you please open your fixed asset posting profiles, identify the revaluation transaction type and enter a line for the book "LOC" and assign an account for it.

Then try again posting.

Best regards,

Ludwig

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Junaid Idrees on at

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Hi mafalda,

Please goto Fixed Assets >> Setup >> Fixed Assets Posting profile >> Selet your Book LOC along with revaluation ledger account.

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mafalda 67 on at

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Hi Junaid,

Here is my Fixed assets Posting profile configuration:

I have tried posting again and the error still occurs.

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mafalda 67 on at

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Hi Ludwig,

Here is my Fixed assets Posting profile configuration:

I have tried posting again and the error still occurs.

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mafalda 67 on at

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Hi Ramit,

Here is my Fixed assets Posting profile configuration:

I have tried posting again and the error still occurs.

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Junaid Idrees on at

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Hi mafalda,

Is this account 453 is included in your account structure in GL 》 chart of Accounts 》 Structure 》 configure account structure .

Can you please make sure this and get back to us.

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Junaid Idrees on at

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Hi mafalda,

Do you have any further updates to share with us or Do you need any additional information/help from community?

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Ludwig Reinhard Microsoft Employee on at

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Hi mafalda,

You can check a couple of things.

First that account 453 is included in your account structures.

Second, replace account 453 with a different one, save it and set it back to 453. This can help if a change to the CoA has been made in the ledger form.

Third, check that the posting profile GEN is still linked to your FA parameters and that no change has been made (accidental deletion).

Best regards,

Ludwig

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mafalda 67 on at

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Hi Junaid,

Thank you for your help.

Regards,

Mafalda

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