Thank you so much Abdullah. One of the best videos on Fixed assets from End users point. Its so easy to follow. As usual your videos always rocks.. very helpful.
Hello Abdullah, When we post asset via AB01L , the accounting entry post to ASSET DR $100 and CONTRA ACCOUNT: ACQUISITION VALUE CR $100. How to clear the value from the contra account. The both Asset account and contra account is picking up from AO90 configuration. .
Hi Abdulah, how I can post reconstruction of fixed asset? I already activated part of equipment, asset number was the part of asset under construction, in middle time we receive new invoices for the same asset number?
Let me see if I understand you correctly. You have capitalized an AUC into a final asset then received new invoices that you want to capitalize to the same asset? You can book these invoices to the same cost object you used for the AUC (WBS or IO) and settle again to the same asset..
Hi Abdullah, I have a question here from which configuration node the clearing G/L account picked, and is it a b/s account? Secondly, what is the difference between asset capitalization date V$ value date? Thirdly, as you mentioned, the value date can control the depreciation start date then in depreciation key we have period control method which is also have the same functionality so is it correct to say period control method has priority over Asset value date please suggest.
When we post acquisition the value date will be the capitalization date ( we don't insert capitalization date when we post the acquisition, only value date) and this date will be copied to the ordinary depreciation start date in the depreciation areas.
@AbdullahGalal so what can we say the value date is? The posting date or document date? Or can I manually put the date in a given period depending on the need which will be considered as capitalization date. Please suggest
@@gouravbose8105 we insert it manually in the transaction. Example we are posting an asset with the posting date of today but we know the capitalization date was last month
Hi Abdullah, is Clearing Asset Account G/L is a B/s sheet Account if yes why not it is P&L Account? Another question if this clearing G/L is a B/s Account which is not open item managed then what is the purpose of nullifying with the debit line item while posting vendor invoice through FB60 just want to connect the dot
Dear Abdulla, Need an urgent help. Created an ROU asset. Also calculated the Present Value. Now since there is no other offsetting account or supplier, how do we enter/account the value/present value debiting the asset account and crediting Long term leased liability account
