I got a problem in FA. I have fixed assets whose individual values total to something more than what it carries in the GL. For instance, the total ( BV) of furnitures in GL is USD 5,0000. However when book value of each individual furniture as managed by FA card is totaled it will come to 51,000. I need to consider GL as the correct . So in this case to reconcile the difference what i decided is create a Dummy FA card (Suspense record).
Kindly please suggest if this is a right idea. I would be happy to know if you have tried other alternatives in the same situation. By the way when FA ledger is lesser than GL it is simple, we can just have positive acquisition for the dummy asset but when the scenario is just opposite how do we post -ve acquisition? I would be really pleased to have your suggestions.
Thank you in Advance