Fixed Asset Item charge Assignment

sajidhanifkhan · 2009-03-07

Dear All,

I created a PO with different lines of items and fixed Asset. I can assign the item charge to recived item of that PO but I am unable to find the receving lines for Fixed Asset. How can I assign the item charge to a fixed asset?

On one post I find that a GL account line should be created in PO and the transfer this amount to Fixed asset by using FA G/L Journal. But I will appreciate if steps to do this can be more elobrated.

If this is the only solution. Any Idea?

Regards,

ssingla · 2009-03-07

sajidhanifkhan wrote:

Dear All,

I created a PO with different lines of items and fixed Asset. I can assign the item charge to recived item of that PO but I am unable to find the receving lines for Fixed Asset. How can I assign the item charge to a fixed asset?

On one post I find that a GL account line should be created in PO and the transfer this amount to Fixed asset by using FA G/L Journal. But I will appreciate if steps to do this can be more elobrated.

If this is the only solution. Any Idea?

Regards,

Item charge by its name tells that it is applicable to Items only.
You can book the purchase value in G/L account say "Capital WIP Charges" and then transfer the amount by posting a FA G/L journal where you are post a debit amount to FA and credit amount to the G/L account mentioned above.

sajidhanifkhan · 2009-03-07

sajidhanifkhan wrote:

Item charge by its name tells that it is applicable to Items only.

Thank you for your answer Singla.

But Fixed Asset can also be an item. And in form 5806 it also show the fixed Asset in the Type column but does not allow to select any other option except item. The solution you told is work around but I am eager if there is any straight method to apply the additional cost as we apply in items?

Regards,

sajidhanifkhan · 2009-03-07

One more query if I buy fixed asset of 10 chairs same model same cost in same month and I start depreciating them from same date, Do I need to create ten different items or can I create one item and make qty ten in the PO and the book value for the FA will appear for 10 item.

Will it make any error in depreciating? Is there any concern to do so?

regards,

nunomaia · 2009-03-08

Using Purchase invoice you can buy items or Fixed Assets. But a Fixed Asset is an Fixed Asset and a Item is an Item. If you want to increase original FA cost you must use FA journal to increase cost.
You can buy 10 chairs and create a single FA card and make depreciation based on that.

Fixed Asset Item charge Assignment

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