TO RECOGNIZE AN ASSET IN FIXED ASSET MODULE AND PURCHASE MODULE

A2000 ONLINE SUPPORT DEPARTMENT

KNOWLEDGE BASE

DESCRIPTION: How can an asset be recognized in the fixed asset module if the user has already processed it in the purchase module?

1. A. Create a FA transaction to recognize the asset in the Fixed Asset Module.

   B. Create a PV transaction, and allocate the FA transaction in there to recognize the Payment.

Note: How to correct if customer wrongly done entry and cannot rectified such as user created an Invoice on PO and made payment through PV to recognize the payment of an asset?

Answer: Cannot double recognize, must delete the SE/PV and use FA/PV instead. However if done long ago, then continue to use as SE, but use IT to take out the item from inventory, and use a GJ/FO to transfer the item into Fixed Asset.

For example a Laptop was purchased for SGD 2000 under SE;

-user issue out of inventory using IT transaction 

           --> Dr Stock Adj A/c $2000 and Cr Stock A/c $2000

-user then use a GJ to adjust 

          --> Dr FA Computer A/c $2000 and Cr Stock Adj A/c $2000

         -user enters a FO transaction to put this laptop into Fixed Assets.

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