DISPOSAL METHOD: 6. Enter Disposal Method. (See User Defined Codes for system 12, record type ES) DESCRIPTION OVERRIDE: 7. Enter description to be used for the journal entry explanation. PRINT SELECTION: 8. Identify how to print asset number. 1 = Item Number (DEFAULT) 2 = Unit Numbe...
The posting date of the final journal entry. Errors detected The error messages that relate to the transaction, if any. Transferred on The transfer date for the transaction. Transferred by The user who transferred the voucher. Transferred to journal ...
6. Enter Disposal Method. (See User Defined Codes for system 12, record type ES) DESCRIPTION OVERRIDE: 7. Enter description to be used for the journal entry explanation. PRINT SELECTION: 8. Identify how to print asset number. 1 = Item Number (DEFAULT) ...
First included in: FixedAssets/AssetJournalHeaderEntity (this entity) Properties NameValue dataFormatstring isNullabletrue Traits List of traits for the ReportingCurrency attribute are listed below. is.dataFormat.character is.dataFormat.big is.dataFormat.array ...
The accounts that have been set up for fixed asset transactions in theFixed asset posting profilesform are used in the posting of fixed asset budget register entries to the ledger budget. The transaction type, fixed asset account, and value model on the budget journal line are used to find ...
Some companies elect to charge the whole-month depreciation in the income statement in the month of purchase and do not charge any depreciation expense in the month of disposal, and vice versa.Journal entriesDepreciation expense can be recorded using the following journal entry:...
In the journal entry above, an expense has to be recorded to show the loss. And as a contra entry against this, we have to reduce our purchases account (it is purchases for theperiodic system of inventory) or inventory account (for theperpetual system). ...
AssetPostingProfileDisposalEntity AssetPostingProfileEntity AssetPropertyGroupEntity AssetProvisionTypeEntity AssetRBSLFactorEntity AssetReductionEntryProfileEntity AssetRetirementObligationDocumentEntity AssetRetirementObligationEntity AssetRevaluationGroupEntity AssetShiftDepreciationPro...
And how do you record the journal entry for reversal of impairment? Impairment: When the fair market value of the asset is higher than its carrying value, then the asset impairment takes place. There is a requirement to test the assets fo...
About fixed asset disposal About fixed asset reserves Value model Select or view the value model for the fixed asset. The correct value models often are displayed by default. For example, value models that have a status of Sold or Scrapped are not available for additional transactions. Only val...