You’re offline. This is a read only version of the page.
10
i need to make acquisition for fixed asset amount only without sales tax amount
EX Fixed asset 50000
sales tax is 5000
Ax make Acquisition for total amount 50000+5000=550000 and make deprecation for all amount
*This post is locked for comments
Hello,
Please explain more your process, how are you creating the FA and making the acquisition journal?
Ideally, the system takes the Unit price entered in the PO without VAT included when creating the FA.
Thank you,
Hi,
You can use the PO, a vendor invoice journal or a GL Journal for posting the invoice document.
Based on what I got I above, you want to have a two step process where the invoice is posted first before the acquisition is posted. Both transactions can, however, also be posted in a single line but then you have to be careful and look out for how your sales tax is setup.
Best regards,
Ludwig
PO or GL the same way and make the transaction in one line
Hi Ali,
What do you mean exactly?
from PO Or GL the same
By "sales tax" do you mean by any chance "VAT" or "GST"?
If the latter is the case than your VAT might not be configured correctly.
For it not to be added to the acquisition code the Tax Code definition need to specify "0% non-deductible" on the "Values" form.
Hi, an acquisition through a purchase order updates the acquisition value of the asset, net of vat, for assets capitalized later follow Ludwigs approach and offset the net value in the acquisition journal to the net cost value when the invoice was posted..
Hi Ali,
One possibility is recording a vendor invoice that you post against a transfer account. This will record the net amount on the transfer account. In a second step you can then post the acquisition and clear the transfer account. Best regards,
Ludwig
Hello,
From where are you entering the acquisition? are you creating the Asset and then making acquisition journal?
Thank you,
Stay up to date on forum activity by subscribing. You can also customize your in-app and email Notification settings across all subscriptions.
#1
André Arnaud de Cal...
291,253
Super User 2024 Season 2
#2
Martin Dráb
230,188
Most Valuable Professional
#3
nmaenpaa
101,156
Share
Report
All responses (
Answers (