Opening balances for fixed assets


can you explain me the procedure how to import the opening balances for the fixed assets. Into which tables i have to import the balances and what values should i have to import like book value, accumulated depreciation, purchase value etc. any sort of help is appreciated.

thanks in advance




You need to load it into FA journal. (Not FA GL journal). Make sure you depreciation book code Card on integration tab Acquisition cost is unchecked.

After you have posted the entries, you need to check that field for future FA you purchase, and those will be posted through FA GL Journal.

For all the fixed assets you need to setup FA depreciation Book. With starting date (go live) and ending date (the remaining life of the FA) and setup depreciation method (e.g. Straight-Line).

The entries that come into FA journal for open balance need to be book value. The FA postinng type is Acquisition Cost.

Hole this helps.