FA in PO

Dear All,

I have Purchased an Fixed Asset through PO, now i want to make reverse that entry but i could not able to do from FA trans as well as i could not Credit note of it. How can i make reverse that FA and Vendor balance. kindly give advise on this.

Thanks in Advance.

Since FA acquisition entry is posted, you need to dispose the asset to reverse the financial impact and post debit note against the vendor for offsetting vendor balance.

By the way, why do you need to reverse the transaction?

Pranav…

Dear Pranav,

Thanks for your response!

My client user has mistakenly given check mark and selected value model in FA tab from PO but he is intended to purchase item only.

And as per my knowledge if i make dispose entry of it then system shows me like that asset is sold out as an asset either scrap but here it is not the case and while i am posting debit note system is giving validation like that item is not available because when i purchase FA through PO, system will post entry like an Item received and another entry will pass by system to convert from Item to FA. [FA dr Item Cr]. hence it is showing me item is not available.

kindly suggest me on this.

Hi Chandu,

Through PO Fixed Asset reversal is not allowed in AX. The only way to handle this through Manual Journal.

Invoice the Purchase order.

Create Manual Journal and select FA and vendor appropriately.

It will nulify the balances of the transaction in both accounts FA and Vendor.

Thanks