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Fixed Asset opening balances
lally
Member Posts: 323
Hi All,
I have one question about the consolidation - FA acquisition date , hope fully you all can answer me.
I have 3 companies - USA , AU, IND , parent company is USD.
When it comes to Consolidation process we need to consider the different exchange rates for the Balance sheet , P&L and Fixed Asset accounts.
Closing rate for Balance sheet accounts.
Avearage rare for Profit & loss accounts.
Transaction date for Fixed Asset accounts.
During consolidation process in the MR reporter, we will define the main account codes then system would consider the General ledger entries only for consolidation . It does not consider the subledger entries of Customer , Vendor and Fixed Asset.
I have a doubt about the Transaction date for the Fixed Assets. Fixed Assets has the two dates Actual Acquistion date and Transaction date ( Opening balance date in Ax )
Assume that client is going on Go-live 04/01/2014 , So generally we will upload the opening balances of G/L(main account) , Sub ledger( Customer , vendor , bank , Item , FA ) on 03/31/2014.
But the question is on which date i need to upload the FA opening balances because some assets had purchased in 2010, 2011 , 2012 also.
Exchange Rate - 5/15/2010 - 1USD - 1.25 AUD.
Fixed Asset purchased on 5/15/2010 - 8000 AUD (Company Currency)
Fixed Asset value was on 5/15/2010 - 6400 USD (Reporting currency)
If i upload the FA opening balances on 3/31/2014 , then during consolidation system would take the exchange rate on 3/31/2014, but actual asset acquistion date ( transaction date ) was on 5/15 /2010.
Exchange Rate - 3/31/2014 1 USD - 1.75 AUD.
Assume that i uploaded the FA opening balances on 3/31/2014 , but General ledger level ( Voucher entries ) there is no field to update the Actual asset acquistion date .
If i upload the FA opening balances of Acquistion amount and Accumulate depreciation amount on 3/31/2014 , during consolidation system would take the exchange rate of 3/31/2014 , then After consoidation system would show the wrong amount , but it suppose to take exchange rate on 5/15/2010.
So my question is do I need to upload the FA entries based on Actual Asset acquisition date (05/15 /2010) or prior to Go-Live date ( 3/31/2014). ?
Thanks in advance
I have one question about the consolidation - FA acquisition date , hope fully you all can answer me.
I have 3 companies - USA , AU, IND , parent company is USD.
When it comes to Consolidation process we need to consider the different exchange rates for the Balance sheet , P&L and Fixed Asset accounts.
Closing rate for Balance sheet accounts.
Avearage rare for Profit & loss accounts.
Transaction date for Fixed Asset accounts.
During consolidation process in the MR reporter, we will define the main account codes then system would consider the General ledger entries only for consolidation . It does not consider the subledger entries of Customer , Vendor and Fixed Asset.
I have a doubt about the Transaction date for the Fixed Assets. Fixed Assets has the two dates Actual Acquistion date and Transaction date ( Opening balance date in Ax )
Assume that client is going on Go-live 04/01/2014 , So generally we will upload the opening balances of G/L(main account) , Sub ledger( Customer , vendor , bank , Item , FA ) on 03/31/2014.
But the question is on which date i need to upload the FA opening balances because some assets had purchased in 2010, 2011 , 2012 also.
Exchange Rate - 5/15/2010 - 1USD - 1.25 AUD.
Fixed Asset purchased on 5/15/2010 - 8000 AUD (Company Currency)
Fixed Asset value was on 5/15/2010 - 6400 USD (Reporting currency)
If i upload the FA opening balances on 3/31/2014 , then during consolidation system would take the exchange rate on 3/31/2014, but actual asset acquistion date ( transaction date ) was on 5/15 /2010.
Exchange Rate - 3/31/2014 1 USD - 1.75 AUD.
Assume that i uploaded the FA opening balances on 3/31/2014 , but General ledger level ( Voucher entries ) there is no field to update the Actual asset acquistion date .
If i upload the FA opening balances of Acquistion amount and Accumulate depreciation amount on 3/31/2014 , during consolidation system would take the exchange rate of 3/31/2014 , then After consoidation system would show the wrong amount , but it suppose to take exchange rate on 5/15/2010.
So my question is do I need to upload the FA entries based on Actual Asset acquisition date (05/15 /2010) or prior to Go-Live date ( 3/31/2014). ?
Thanks in advance
lally
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