Fixed Asset Opening

asking

This is what NAV 5.0 online help says can somebody explain why this is so ? Means when the step 4 will be followed what the business scenario would be. Plus step 5 was too way out of my understanding. Please any body can explain me

To Register Opening Entries:

1.

Make sure that you have completed the basic setup procedures for Fixed Assets.
2.

Create a fixed asset card for each existing asset.
3.

Set up FA depreciation books.
4.

Deactivate G/L integration. Open the Depreciation Book Card window. On the Integration tab, make sure all fields are blank (remove all check marks). If you have more than one depreciation book, deactivate G/L integration for each one.
5.

In the FA journal, enter three lines per asset: one with the acquisition cost, one with the accumulated depreciation to the end of the previous fiscal year, and one with the accumulated depreciation from the beginning of the current fiscal year to the date the program is to start calculating the depreciation. If you have other opening balances, you can enter them as well (for example, write-down, appreciation, and so on).
6.

When you have entered and posted the journal lines for each asset, remember to activate G/L integration again.

If the fixed assets are not integrated with the general ledger, omit steps 4 and 6.[/size]

idiot

For 4. The balance of your FA would likely come from your Trial Balance, so if with G/L Integration, whatever you post to FA Subledger would be posted to G/L also, which becomes double posting. Deactivate G/L integration would prevent the posting in FA Subledger from reaching the G/L.


For 5. Check with your accountant on the meaning of the terms. They are clear as day.

asking

Yeah it is quite clear to me now thanx.

But if i am carrying the data for last 2years will this be the same ?

Plus what FA posting date is for ? This is the date which i will use for posting these opening entries or i will be using the posting date which is available on journal line.

I have joined a firm as a trainee. But i am learning by studying pdfs given to me after making a new company and posting entries. I have some tons of doubts. For which i hope i will get the solution here. Because my boss is too bully kind of person to ask, he says all the time go read the pdf. Which i have been doing but i got one thing without trying it on system i will not learn. I hope he knows the product because i never saw him disscussing product with anybody He just knows how to bully

Is this the right approach which i am taking ? Combination of book + trial entries in product.

Sorry if i make anybody feel like this ](*,) with my questions but i will ask after trying that is promise.

"As an acknowledgment to this site i like these icons".

Malajlo

Until your book is not integrated with G/L, you can do whatever you want.
You can also delete all entries in FA Ledger and FA Register and repeat opening postings if you're not satisfied with results.

But you have to integrate FA with G/L for new postings (depreciations etc.). If you don't have any FA postings in G/L for i.e. this year, then you shouldn't post opening entries (not integrated) for FA. Post FA entries integrated.