Hi, I am trying to dispose of a fully depreciated fixed asset and a bit stuck on the settings to use on the Fixed Asset GL Journal. I am using version AP Dynamics NAV 5.0
As the asset is fully depreciated the cash received equates to the gain on sale - I am fairly sure I have these correct as just straight GL account entries. My query is how to address the cost and accumulated depreciation to ensure the asset is correctly diposed of and removed from the asset register. I can select fixed asset under “account type” and can select the asset concerned but do I do this for both journal lines and if so what “FA posting type” do I select.
You can sell the item either through Sales invoice or FA GL journal. when you select the fixed asset in the line as we have given the Fixed asset posting group setups system will automatically post the gain/loss, in your case it will be gain. also system will pass a reversal entry for the acquisition cost and accumulated depreciation posted in to the GL account. After posting the sales you can see the disposal date field is updated on the Fa depreciation book part of the Fixed asset master.
If you use more than one depreciation book you have to dispose the asset value from that depreciation book also. for that you can use a field " Duplicate depreciation book" in both FA GL journal or sales invoice.
Hi I have followed the comments provided by everyone and trimmed my journal down to just the 2 lines. No errors appeared on the test report but when I went to post the journal it came back saying it required a cost centre for the ‘gain or loss’ gl code. I must be missing this in a setup somewhere. Can’t see where this is does anyone have any thoughts.