Assets with Depreciation: Generated Transactions
As you split, transfer, and dispose of assets, the system creates fixed asset transactions. To update the balances of GL accounts, the system generates the GL transactions described in the following sections.
Tip: For any of these transactions, you can view the reference number of the GL batch
in the Batch Nbr. column on the Transactions tab
of the Fixed Assets (FA303000) form. The reference number is also a link that
you can click to view the GL batch on the Journal Transactions (GL301000)
form.
Transaction Generated for Asset Transfer
When you transfer a fixed asset with accumulated depreciation from one branch to another branch, the system generates the following general ledger transaction.
| Branch | Account | Source of Account | Debit | Credit |
|---|---|---|---|---|
| Destination branch | Fixed Asset account | The Fixed Asset Account box on the GL Accounts tab of the Fixed Asset Classes (FA201000) form for the asset class | Asset cost | 0.00 |
| Source branch | Fixed Asset account | The Fixed Asset Account box on the GL Accounts tab of the Fixed Asset Classes form for the asset class | 0.00 | Asset cost |
| Source branch | Accumulated Depreciation account | The Accumulated Depreciation Account specified for the asset class on the GL Accounts tab of the Fixed Asset Classes form | Accumulated depreciation | 0.00 |
| Destination branch | Accumulated Depreciation account | The Accumulated Depreciation Account specified for the asset class on the GL Accounts tab of the Fixed Asset Classes form | 0.00 | Accumulated depreciation |
Transaction Generated for Asset Disposal
When you dispose of a fixed asset with accumulated depreciation by selling it, the system generates the following general ledger transaction.
| Account | Source of Account | Debit | Credit |
|---|---|---|---|
| Gain/Loss of Fixed Asset Disposal account | The Gain Account and Loss Account boxes on the Fixed Asset Classes (FA201000) form for the asset class | Asset cost | 0.00 |
| Fixed Asset account | The Fixed Asset Account box on the GL Accounts tab of the Fixed Asset Classes form for the asset class | 0.00 | Asset cost |
| Accumulated Depreciation account | The Accumulated Depreciation Account specified for the asset class on the GL Accounts tab of the Fixed Asset Classes form | Accumulated depreciation | 0.00 |
| Gain/Loss of Fixed Asset Disposal account | The Gain Account and Loss Account boxes on the Fixed Asset Classes form for the asset class | 0.00 | Accumulated depreciation |
| AR Accrual account | The Proceeds Account box on the Disposal Methods (FA207000) form | Proceeds amount | 0.00 |
| Gain/Loss of Fixed Asset Disposal account | The Gain Account and Loss Account boxes on the Fixed Asset Classes form for the asset class | 0.00 | Proceeds amount |