Each fixed asset transaction is posted to general ledger. Typically, two accounts are affected – a ledger account and a ledger offset account. Selecting the correct transaction type for fixed assets transactions is important because the transaction type connects the fixed asset transaction to the posting profile, and the posting profile determines which ledger accounts will be used for posting in the general ledger.
Click > > > .
Enter the date of the transaction in the field.
Select the transaction type in the field.
In the field, select the fixed asset number.
Based on the posting profile and the fixed asset transaction type, each fixed asset is posted in General ledger to an account and to an offset account.
Only the offset account is visible in the fixed assets journal and can be changed prior to posting. An offset account is suggested according to the setup of the posting profile for each particular transaction type and value model, but this account is only a default account, which can be changed prior to posting.
Select an asset book ID.
Only value models set up for the posting layer of the journal are suggested. For example, if the posting layer for the journal is , only value models with the posting layer are available.
On the tab, select a reason for the transaction. You can use codes that are set up in the form.
Reason code requirements that are set up in the form determine whether a reason code is required for the type of transaction that you are entering.
Validate and post.
If you cannot post and you receive an error message that mentions posting restrictions, you might be set up to post only journals that you created. For more information, see Posting restrictions (form).
Transaction proposals in Fixed assets journal and General journal
The purpose of transaction proposals is to create journal lines as suggestions for fixed asset transactions to simplify transaction entry. These suggestions are based on the general setup of fixed assets, and on the setup of each individual fixed asset. All the proposals can be accessed by using the buttons in journal lines and using queries for range and sorting of the fixed assets/value model, for which transactions have to be suggested. For all journal lines created using proposals, a transaction text will be suggested, and all information transferred to the journal lines from the proposals can be adjusted and posted like other journal lines.
Create journal lines for fixed assets that have a status and where an acquisition date and an acquisition price have been set up for the fixed asset/value model. The transaction type suggested is .
Acquisition adjustment proposal
Create journal lines for fixed assets that have a status of . The transaction type suggested is .
Create journal lines for the periodic depreciation calculation, based on the setup of the depreciation profile for each value model and the date entered in the field.
Depreciation proposal is the most important proposal for periodic financial statements. It saves a lot of time because depreciation for all fixed assets can be calculated and posted in one single operation.
Depreciation proposal considers only fixed assets that have an status and are depreciable. As for time intervals, depreciation proposal calculates depreciation for depreciation periods in which the depreciation has not yet been posted.
Because only fixed assets with an status can be depreciated does not mean that it is not possible to start depreciation of an asset prior to the acquisition. A fixed asset acquired on May 15 can be depreciated from January 1 of the same year, but the depreciation is not calculated before an acquisition has been posted.
Create consumption depreciation proposal lines for fixed asset value models that have depreciation profiles with as the depreciation method.
Create revaluation proposal lines through the for fixed assets that are set up for revaluation, which means assets where a revaluation group has been assigned to the asset/value model.
Transactions suggested in the revaluation proposal are created according to the setup of each particular revaluation group. In the form, specify the percentages for revaluation and the date when each percentage is valid.
Revenue recognition of reserves
Create a proposal for revenue recognition of reserves used for dissolution of reserves that have been created when assets are sold with profit.
When the proposal is activated for the posting date for fixed assets selected in the query, a reversal of the posted profit reserves is suggested. Two options for reserve reversal are available,
For reserves that have not expired, a transaction without account is suggested. You should enter the account using the number of the new asset. The value of this asset—and the basis for future depreciation of this asset)—is reduced by the amount of the reserve.
All data in the journal lines are default entries that can be adjusted prior to posting.
Extraordinary depreciation proposal
Create an extraordinary depreciation proposal through the . This proposal concerns only fixed assets where a value model has been set up with a depreciation profile for extraordinary depreciation.
Extraordinary depreciation works exactly the same way as , but considers of the fixed asset instead of in the depreciation calculation.
Fixed assets that have a set up will usually have a and . Both proposals are used for the same fixed asset.