Hi All,
Needs some help please?
Finance Team have scrapped fully depreciated Fixed Assets, but they have posted to the P&L is this normal? have we processed them incorrectly?
We did not expect the entries into the P&L - Would maybe have been okay if same account, but they are not clearing down due to Cost Code and Account details
Can anyone advise?
First time we have done this.
Hi,
As with most accounting transactions, the scraping posting results are driven by posting control. You should review your highlighted transactions, look for the Trans Code attribute. The Trans code, will list the posting type that was used for the given transaction.
Then look in posting control for the rules that were defined for that posting type. The rules will then note the control type used for that transaction. Then see the details (if they exist) for the posting control record
Based on the transaction, scrap a fixed asset object, I suspect the accounting effects are more likely to be driven by that set up rather than anyone doing a scrap the wrong way.
Best regards,
Thomas
Hello,
In addition - if you want to limit cost entries on FA disposal, and you have just one depreciation book, please check depreciation book settings - it is possible to select net value entry pattern, where on disposal accumulated depreciation account is closed vs acquisition value account and only net value goes to costs (in correspondence with acquisition value account)
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