Sale of Fixed Assets - entries

Finance and Operations/AX User Forum
1

Hi,

At the time of Fixed Asset sale, entries posted by AX is coming from posting profile for Fixed Asset.

Accounts set in Transaction type ‘disposal’ and further ‘Disposal Sales’ for ‘Net book value’ are capturing amounts.

System is not reversing full value of assets from the GL and also full value from depreciation fund.

Plus system is not booking actual Gain / Loss on sale of asset in General Ledger.

Not sure about this system behavior. Can any one put some more light on this.

Thanks,

Jainal

2

Hi,

How have you posted FA? Normally it reverses the balances.

Pranav…

3

Hi Pranav,

FA posting has been made from Fixed Asset journal for testing purpose.

It should reverse the balance coming in General Ledger of Fixed Asset, Depreciation fund of fixed asset plus bank / customer entry and amount of profit or loss on sale of FA. I am also making entry from sales invoice.

Can you please suggest which is the correct way to book sale of FA.?

Thanks,

Jainal

4

Try using free text invoice. That will work

Pranav…

5

Thanks for the hint.

Let me check the same and ll revert you.

Thanks,

Jainal

6

If you dont get it right then let me know what entry you are looking for I ll tell you how to setup

Regards

Rajesh

7

Hi,

I have tried free text invoice but it is still showing same entries which I am not getting.

my scenario is FA value is that of 1,00,000. Depreciation fund till date is 10,000.

Now Book value is 90,000 as on date and I am selling this FA at 60,000.

Now entry should be

Depreciation fund Dr - 10,000

Loss on sale asset Dr- 30,000

Customer Dr - 60,000

FA Ac Cr - 1,00,000

in NAV i am getting these entries but in AX not sure which account should required to set in posting profile in ‘Disposal’ and ‘Net value’ type.!!!?

Can you please help me which set up is required in this scenario.?!

Thanks,

Jainal