Change Fixed Asset Acquisition Cost

muziclover

I know nothing about fixed assets, so I need some information.

We have a client who would like to know the proper procedure for changing a F/A acquisition cost. The asset changed value due to an exchange rate difference between when it was entered (11/10) and when it was actually paid (12/10).

Can someone share with me the proper steps for this process? I would presume this is a reclassification, but I would prefer to gather some expert input.

Thanks!

FelixAntony

Post a fixed asset journal to add the additional acquisition cost. In the journal select the FA posting type as "Acquisition Cost". This journal does not post any entries to G/L, only post depreciation entries. If you want to post to G/L also, please use the Fixed Asset G/L journal. Hope this information is helpful for you.

kitik

FelixAntony wrote:

This journal does not post any entries to G/L, only post depreciation entries.

Just a little correction: "This journal does not post any entries to G/L, only post Fixed Asset entries."

It can be solved posting a new FA entry, but you're talking abount currencies here... I'm not sure if the standard currency functionality also updates FA entries. You should try it first.

Salut!

FelixAntony

Yes, I mean entries to Depreciation Books.