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 General ledger> Journals> Fixed assets> Lines.
Enter the date of the transaction in the Datefield.
Select the transaction type in the Transaction typefield.
In the Accountfield, 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.
- The account is defined in the setup in the Posting profiles form.
- 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 Tax, only value models with the Taxposting layer are available.
Enter transaction text for manual transactions. You can use codes that are set up for standard transaction texts in the Ledger journal textsform ( General ledger> Setup> Journals> Journal texts ), as well.
On the Generaltab, select a reason for the transaction. You can use codes that are set up in the Asset reasonsform.

Note

Reason code requirements that are set up in the General ledger parametersform determine whether a reason code is required for the type of transaction that you are entering.
The voucher lines are allocated according to the information in the Journal names form.
On the Value modelstab, view, create, or adjust derived fixed asset transactions. See About derived value modelsand Posting with derived value models.

Note
Reason code requirements that are set up in the General ledger parametersform determine whether a reason code is required for the type of transaction that you are entering.

Validate and post.

Note
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.

Proposals

Acquisition proposal

Create journal lines for fixed assets that have a Not yet acquiredstatus 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.

Acquisition adjustment proposal

Create journal lines for fixed assets that have a status of Open. The transaction type suggested is Acquisition adjustment.

Depreciation proposal

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 To datefield.

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 Openstatus 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 Openstatus 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.

Consumption depreciation

Create consumption depreciation proposal lines for fixed asset value models that have depreciation profiles with Consumptionas the depreciation method.

For more information, refer to Consumption depreciationand Create consumption proposal (form).

Revaluation proposal

Create revaluation proposal lines through the To datefor 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.
For reserves, which, according to the setup of the provision type, have expired already, Account for revenue recognition of untransferred reservesset up in the Parameters form is suggested as Account.

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 To date. 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 Depreciation proposal, but considers Extraordinary depreciation profileof the fixed asset instead of Depreciation profilein the depreciation calculation.

Fixed assets that have a Extraordinary depreciation profileset up will usually have a Depreciation profileand Extraordinary depreciation profile. Both proposals are used for the same fixed asset.