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Disposal

This section details the GL posting for debit and credit transactions for a FA Disposal transaction.

(a)

If the FA Module Control option GL update depreciation to branch on asset is not selected:

Debit [Gross disposal value]

GLControl.FADisposalClearingAccount

MyAsset.myProfitCentre.glAccountStructure

MyAsset.myProfitCentre.myBranch.glAccountStructure

MyAsset.myBranch.glAccountStructure

FAControl.myDefaultProfitCentre.myBranch.glAccountStructure

GLControl.suspense

Credit [Cost of asset (+/-) revaluation and write-off]

MyAsset.myAnalysis.CostAccount

MyAsset.myProfitCentre.glAccountStructure

MyAsset.myProfitCentre.myBranch.glAccountStructure

MyAsset.myBranch.glAccountStructure

FAControl.myDefaultProfitCentre.myBranch.glAccountStructure

GLControl.FACostAccount

GLControl.suspense

 

Debit [Total accumulated depreciation + any offset depreciation]

MyAsset.myAnalysis.ProvisionForDepreciationAccount

MyAsset.myProfitCentre.glAccountStructure

MyAsset.myProfitCentre.myBranch.glAccountStructure

MyAsset.myBranch.glAccountStructure

FAControl.myDefautlProfitCentre.myBranch.glAccountStructure

GLControl.FAProvisionForDepreciationAccount

GLControl.suspense     

Credit [Value of any depreciation recovered - if disposal value > book value]

GLControl.FADepreciationRecoveredAccount

MyAsset.myProfitCentre.glAccountStructure

MyAsset.myProfitCentre.myBranch.glAccountStructure

MyAsset.myBranch.glAccountStructure

FAControl.myDefautlProfitCentre.myBranch.glAccountStructure

GLControl.suspense

 

Credit [Value of the profit - if disposal value > cost]

GLControl.FAProfitOnSaleAccount

MyAsset.myProfitCentre.glAccountStructure

MyAsset.myProfitCentre.myBranch.glAccountStructure

MyAsset.myBranch.glAccountStructure

FAControl.myDefautlProfitCentre.myBranch.glAccountStructure

GLControl.suspense

 

Debit [Value of the loss - if disposal value < book value before any depreciation reversal]

GLControl.FALossOnSaleAccount

MyAsset.myProfitCentre.glAccountStructure

MyAsset.myProfitCentre.myBranch.glAccountStructure

MyAsset.myBranch.glAccountStructure

FAControl.myDefautlProfitCentre.myBranch.glAccountStructure

GLControl.suspense

 

Debit [Value of revaluations for the asset]

GLControl.FARevaluationReserveAccount

MyAsset.myProfitCentre.glAccountStructure

MyAsset.myProfitCentre.myBranch.glAccountStructure

MyAsset.myBranch.glAccountStructure

FAControl.myDefautlProfitCentre.myBranch.glAccountStructure

GLControl.suspense

 

Credit [Value of revaluations for the asset]

 GLControl.FARetainedEarningsAccount

 

Debit [Depreciation reversal amount, if required - see Disposal flag]

MyAsset.myAnalysis.ProvisionForDepreciationAccount

MyAsset.myProfitCentre.glAccountStructure

MyAsset.myProfitCentre.myBranch.glAccountStructure

MyAsset.myBranch.glAccountStructure

FAControl.myDefautlProfitCentre.myBranch.glAccountStructure

GLControl.FAProvisionForDepreciationAccount

GLControl.suspense

 

Credit [Depreciation reversal amount, if required see Disposal flag]

MyAsset.myAnalysis.DepreciationAccount

MyAsset.myProfitCentre.glAccountStructure

MyAsset.myProfitCentre.myBranch.glAccountStructure

MyAsset.myBranch.glAccountStructure

FAControl.myDefautlProfitCentre.myBranch.glAccountStructure

GLControl.FADepreciationAccount

GLControl.suspense

 

(b)

If the FA Module Control option GL update depreciation to branch on asset is selected:

Debit [Gross disposal value]

GLControl.FADisposalClearingAccount

MyAsset.myBranch.glAccountStructure

MyAsset.myProfitCentre.glAccountStructure

MyAsset.myProfitCentre.myBranch.glAccountStructure

FAControl.myDefautlProfitCentre.myBranch.glAccountStructure

GLControl.suspense

Credit [Cost of asset (+/-) revaluation and write-off]

MyAsset.myAnalysis.CostAccount

MyAsset.myBranch.glAccountStructure

MyAsset.myProfitCentre.glAccountStructure

MyAsset.myProfitCentre.myBranch.glAccountStructure

FAControl.myDefautlProfitCentre.myBranch.glAccountStructure

GLControl.FACostAccount

GLControl.suspense

 

Debit [Total accumulated depreciation + any offset depreciation]

MyAsset.myAnalysis.ProvisionForDepreciationAccount

MyAsset.myBranch.glAccountStructure

MyAsset.myProfitCentre.glAccountStructure

MyAsset.myProfitCentre.myBranch.glAccountStructure

FAControl.myDefautlProfitCentre.myBranch.glAccountStructure

GLControl.FAProvisionForDepreciationAccount

GLControl.suspense     

Credit [Value of any depreciation recovered - if disposal value > book value]

GLControl.FADepreciationRecoveredAccount

MyAsset.myBranch.glAccountStructure

MyAsset.myProfitCentre.glAccountStructure

MyAsset.myProfitCentre.myBranch.glAccountStructure

FAControl.myDefautlProfitCentre.myBranch.glAccountStructure

GLControl.suspense

 

Credit [Value of the profit - if disposal value > cost]

GLControl.FAProfitOnSaleAccount

MyAccount.myBranch.glAccountStructure

MyAsset.myProfitCentre.glAccountStructure

MyAsset.myProfitCentre.myBranch.glAccountStructure

FAControl.myDefautlProfitCentre.myBranch.glAccountStructure

GLControl.suspense

 

Debit [Value of the loss - if disposal value < book value before any depreciation reversal]

GLControl.FALossOnSaleAccount

MyAsset.myBranch.glAccountStructure

MyAsset.myProfitCentre.glAccountStructure

MyAsset.myProfitCentre.myBranch.glAccountStructure

FAControl.myDefautlProfitCentre.myBranch.glAccountStructure

GLControl.suspense

 

Debit [Value of revaluations for the asset]

GLControl.FARevaluationReserveAccount

MyAsset.myBranch.glAccountStructure

MyAsset.myProfitCentre.glAccountStructure

MyAsset.myProfitCentre.myBranch.glAccountStructure

FAControl.myDefautlProfitCentre.myBranch.glAccountStructure

GLControl.suspense

 

Credit [Value of revaluations for the asset]

                                               GLControl.FARetainedEarningsAccount

 

Debit [Depreciation reversal amount, if required - see Disposal flag]

MyAsset.myAnalysis.ProvisionForDepreciationAccount

MyAsset.myBranch.glAccountStructure

MyAsset.myProfitCentre.glAccountStructure

MyAsset.myProfitCentre.myBranch.glAccountStructure

FAControl.myDefautlProfitCentre.myBranch.glAccountStructure

GLControl.FAProvisionForDepreciationAccount

GLControl.suspense

 

Credit [Depreciation reversal amount, if required see Disposal flag]

MyAsset.myAnalysis.DepreciationAccount

MyAsset.myBranch.glAccountStructure

MyAsset.myProfitCentre.glAccountStructure

MyAsset.myProfitCentre.myBranch.glAccountStructure

FAControl.myDefautlProfitCentre.myBranch.glAccountStructure

GLControl.FADepreciationAccount

GLControl.suspense