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Convert Puschase to Fixed Assts - In GL appear with a different Subaccount and two accrual account lines that are netted at 0

  • 9 April 2024
  • 1 reply
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Hi Team,

When I convert a Purchsce to a Fixed Assets the proces on GL generate 4 rows with diferents subaccount

The transactions in GL appear with a different Subaccount and two accrual account lines that are netted at 0, why does this appear?

The correct thing would be that the subaccount to be set at the time of registering the purchase in AP Bill and not to pull the subaccount from somewhere else. Please help me understand what could be happening.

In FA preferences I Can define one Fixed Assets subacount , but normaly I don’t use the same subacount to register my FA, because in diferent case of fixed assets i have many subaccount,

In Fixed assets Class I can define the subaccount but normaly I could have diferent subaccoun for each Fixed Asset Class.

When I do a AP Bill I can select the Subaccount which could be diferent with the Fixed Assets Preference subaccount

When I convert my FA in Convert Purchases to Assets Form I can select the same subaccount that I selec in the AP Bill and convert it, but when I review the GL Transactio I have in my GL diferent subaccont.



Finally the transactions in GL appear with a different Subaccount and two accrual account lines that are netted at 0, why does this appear?

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Best answer by Laura02 9 April 2024, 12:17

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Hello,

I have one idea. Is it possible the Fixed Asset was purchased with a Purchase Order? 

Purchase Order Receipt may debit FA Accrual Account.  Depending on the Vendor Accrual Account setting, PO Receipt may also credit the same Accrual account, if it is entered on the Vendor Account settings:

AP Bill will then debit vendor’s accrual account and credit AP.

When converting the asset, leave Subaccount blank at the top of the screen, to select all subaccounts.  Select all the lines related to one new asset, debits and credits, to be reconciled when the asset is created.

 

Laura

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