Interfacing Transactions From Inventory to Fixed Assets

Item Master:

Asset Clearing Account

In Purchase Order Distribution PO Charge Account is defaulted from Item Master as Asset Clearing Account

Receiving Accounting

Material Transaction Distribution

INVOICES>ENTRY
Create a standard invoice for PO Number and match it to receipt number

Now validate and account the invoice, and Transfer to GL

Check in Distribution and ensure 25470-Inventory AP Accrual Account is Debited

For an Asset Item to appear in Fixed Assets , its necessary that the PO Charge Account is booked to 16310-Asset Clearing Account. Inorder to ensure this, in Payables View PO can be selcted on distribution window, and check to it that correct charge account is reflected.

Now we need to transfer this Invoice to Fixed Assets, so run Mass Additions Create View>Requests>Submit a New Request> Mass Additions Create
Select now GL Date and Book, please note the GL Date mentioned here should be same as GL Date mentioned on the Invoice distribution.

Now Switch to Fixed Assets Responsibility

Go to Mass Additions> Prepare Mass Additions
Query for the Invoice Number which has been transferred by Mass Addition Create

As you can see the Invoice is Transferred to Fixed Assets.

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