Going through the Fixed Assets Maintenance documentation I just wanted some clarifications towards step 3 because I’m wondering why does it need to be turned off and if thats the case why should the button even exist?
My understanding is its simply saying if its kept on the transactions will show up in both the FA G/L ledger and the FA ledger. Is that a bad thing?
Thanks for the education I’m genially curious and I’m sure someone can correct where Im correct.
Thank you
My understanding is that it’s simply saying if it’s kept on, the transactions will show up in both the FA G/L Ledger and the FA Ledger. Is that a bad thing?
Your understanding is absolutely correct — once you enable this, the entries will appear in both ledgers.
Now, is it a bad thing? Not at all. But once you post to the G/L, you need to ensure the accounting team is aware of the debits and credits the system will generate. If the accounting team says there’s no need to impact the financials, then we shouldn’t enable this. It’s a choice, and sometimes we may not want these entries in the G/L.
You will see this option in certain areas like the FA Journal vs. FA G/L Journal, and the Project Journal vs. Project G/L Journal, where the system gives you the flexibility to decide whether you want to hit the financials or not. Even in FA Depreciation Books, you will find a similar option for G/L posting.