Fixed Asset Opening Balance

koalado

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! [/b]

rsfairbanks

Koalado,

Firstly I would do this in a test system to make sure you've got all your posting groups set up.

You can probably use either journal but I would use a g/l one just so I could see the postings.

For the journals use type fixed asset, acquisition and the amount (the original acqusisitio cost). If any depreciation, do another journal line of type depreciation and amount as the accumulated depreciation. Balance it all off against g/l 12345.

As they are assets under construction, you probably do not need to depreciate them and so don't set a starting date on the asset card. If you are to depreciate use 1 Jan as starting date and use straight line of 10%. (actually use your suggestion and compare if at 10%).

Check the depreciation result against the excel remembering Navision works on a 30 day month and 360 day year.

koalado

Thank you so much for you reply.

For the journals use type fixed asset, acquisition and the amount (the original acqusisitio cost). If any depreciation, do another journal line of type depreciation and amount as the accumulated depreciation. Balance it all off against g/l 12345.

Does it mean that I need to fill in "Bal. Account Type" as "G/L Account" and "Bal. Account No" as "12345" on the line with "FA posting type" "depreciation"? If not, could you please tell me how do I balance the value off from G/L 12345.

As they are assets under construction, you probably do not need to depreciate them and so don't set a starting date on the asset card. If you are to depreciate use 1 Jan as starting date and use straight line of 10%. (actually use your suggestion and compare if at 10%).

I also have something like computers in "Construction in progress" (building,machinery and Others) need to depreciate. So, how do I fill in "starting date? and "depreciation year"? Is the logic I'm going to use correct?

Many thanks again.