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Hi,
We are facing problem in Microsoft GP 2015. The user ran the Depreciation Expense for the month of October 2022, and when the user posted series to GL it shows that Debit and Credit entries are not equal. (Also GP was stuck for some time before posting series).
Also there are error log entries in the Fixed asset Error Log as shown below.
Kindly suggest how we can fix this and now the FA entries are posted to GL so how we can correct it.
Regard,
Faraz Hussain
The accounting for depreciation requires an ongoing series of entries to charge a fixed asset to expense, and eventually to derecognize it. These entries are designed to reflect the ongoing usage of fixed assets over time. Fortiva Card
Faraz,
Thank you for your inquiry. For your first issue where the POST to GL entry. An asset included in the run may not have been setup with default accounts.
You can verify this by running the Depreciation Expense to General Ledger Report. Reports>Fixed Assets>Depreciation. Choose Report: Depreciation Expense to General Ledger Report. ON your Ranges: Choose the FA YEAR and the FA PERIOD corresponding the last run you did. On top of that report, the assets without default accounts will show up.
To correct the entry, you can summarize the depreciation amounts of the assets shown with "Account not found" on the report above then edit the unposted JE corresponding to the GL posting procedure in FA. The batch ID of the JE would be prefixed with "FATRX"
For your error log issue, you may need to
1. IMPORTANT - Log everybody out of GP
2. Log into SQL Server Management Studio on the SQL Server housing Dynamics GP.
3. IMPORTANT - Make a new backup of the erring company db.
4. Run the following SQL scripting against the erring company db: delete FAINDEX
5. Log back into the erring Dynamics GP company as the 'sa' or an administrative user.
- Note: This process rebuilds the FAINDEX table based on current FA table content.
6. Back in SQL Server Management Studio, query the erring company db to ensure the FAINDEX file contains data (repeat steps 1-5 if it does not): select * from FAINDEX
Please send in a case with us should your issue persists or need further assistance.
Cheers!
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