Fixed Assets Opening Balance

koalado

Dear all:
We are considering to use Fixed Assets module. We used to post all transactions related with FA to a temporary account, so there are already values in history G/L account for these Fixed Assets. I've uploaded fixed assets to Navision via dataport, have setup FA posting group. Question is what should I do to balance the G/L account? For example, if there already value 100,000 in a temporary G/L account 123456. The FA posting group has been setup post to G/L account 654321 and etc. For the opening balance, what should I fill in the FA G/L Journal to balance this value? If this FA was purchased in March and we plan to start the depreciation in Navision from Now, do I need to manually calculate the depreciation from March to December then add another line in FA G/L journal? Please help! Thanks in advance.

mrinal.kapoor

Hi,
What do you mean by temporary a/c here.
I am assuming that u want to use a/c no. 12345 as ur fixed asset account.
So why is the FA Posting group has adifferent account. Make it same. If at all for some reasons the accounts are to be made different then one can pass a voucher later to nullify the temporary balance.

2) To post opening entries in Fixed Assets, you are not supposed to use FA G/L journal but FA Journal because posting through FA G/L Journal will make an entry in Genreal ledger also, which already has a balance through ur Opening Voucher. So that will make adouble imact in ur Chart of Accounts.
Before posting through FA Journal make sure that you have unchecked all transaction types in the Integration tab of the respective Depreciation Books.

I hope this solves ur problem.

koalado

Many thanks for your reply.
Let me explain the case in details.
We are a new plant. From March to December, we didn't use FA module in our Navision. So for all "Construction in progress" (like building,machinery and others), we use an account '12345' to record all purchase transactions. Depreciation is done out of Navision by Excel.
Now, we are going to create FA cards for all the things in "Construction in progress", Upload to Navision, Create depreciation book, setup "FA Posting Group", then start FA module in Navision.

To Balance the values in account 12345, I have two questions:
1. Should I use "FA G/L Journal" or "FA Journal"
2. May I fill in journal lines like
1) (Dr.) Account 12345 (We pick up the value related with the newly created Fixed Assets)
2) Acquition for this Fixed Assets
3) Depreciation from March - Dec (Dec is the point uploading to system) for this Fixed Assets
4) On FA card, change the "Depreciation Starting Date" to January 1st, "No. Of Depreciation Years" to "original years - 10 months (March-Dec)"

then start the formal depreciation in Navision, run monthly calculation of depreciation in "Financial Management"->"Fixed Assets"->"Periodic Activities"->"Calculate Depreciation"
Thanks again for your help!