To cancel a FA Ledger entry

deepblue

Hello,

I'm trying to cancel a FA entry where "FA posting category" = Disposal and "FA posting type" = Acquisition Cost but an error message saying "Sequence No. xxxxx can not be cancelled. use "FA posting type" = Proceeds on disposal." .

what can I do?

thank u?

ssingla

It seems that like posted invoice can not be reversed, FA ledger entry of disposal can also not be cancelled or reversed.

Francis_KONHAWA

Hello,
Where are you trying to cancel the entry ? in a non posted batch journal or directly in the table (Object designer) ?
If the entry has been posted, you just cannot delete the line, it would make the system incoherent.
You should enter a disposal to take that FA out of the FA register, maybe with a reason code to indicate that it's a correction operation.

Regards!

ssingla

Francis KONHAWA wrote

If the entry has been posted, you just cannot delete the line, it would make the system incoherent.

Thats the whole issue. Deep blue is not trying to delete a transaction from the system. A particular FA entry has been posted and by using the standard functionality of reversing/cancel entry of the Navision , he wants to reverse it. This is happening in the case asset disposal transaction. There seems to be no reversal pocedure written in Navision for disposal transaction.

deepblue

Thank u,

But if I can not cancel this entry can I correct it by entring a correcting entry ? and If it's possible can u give some details because I am new in the Fixed Assests World ?

ssingla

Sorry to say that a disposal entry cannot be reversed. Rest all FA entries can be reversed/cancelled.

For disposal you need to reacquire the asset in the system and pass the adjustment entry for Loss/Gain on disposal of FA.

deepblue

can u give me more details to know how to do it?

ssingla

Deepblue,

on the FA ledger entry form you can select any transaction and click on function button. Select Reverse or Cancel as you want and then post it. the system will create reverse,cancel transaction as selected by u.

zarryn

Deep Blue,

You can not reverse only the disposal of acquisition cost, you must reverse all entries that were created by the disposal. The system will reverse all entries (3 or 4 depending on Net or Gross method of disposal) by cancelling the entry that has an FA Posting Type of Proceeds on Disposal.

manisharma31

Yes the disposed entries can be canceled by using the cancel entries in the FA ledger Entry form.

To do this,
1. In the FA ledger entry find the sales invoice & navigate the entry.

2. After the navigate screen show the related tables where the entries have been posted,go to fa ledger entry & click on show.

3. After this you will see all of the fa ledger entries like with posting type as Proceeds on Disposal,Gain/Loss,Acquisition Cost,Depreciation.

4. Select the Proceeds on Disposal posting type entry & under function menu click cancel entries, you will receive a message that the entries have been transfred to fa gl journal.

5. Go to fa gl journal there you will only see one entry, here enter the bal account type as gl account & the bal account no.
( i.e any expense account for temp use) and remove value in the bal. gen. posting type,bal. gen. prod. posting group,bal. gen. bus. posting group and post the entry.

6. After the entry has been posted you need to manually post a reverse entry to nullfy the temp expense account(i.e Dr the temp expense account & Cr the customer account that was selected at the time of posting the sales invoice for FA).

After this check your FA card & you will see that there is no check mark in disposed and more if you drill down in the book value the entries related to disposal have been moved to error ledger entries.

Hope this solves the problem as it did mine.