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Disposal
Here are the details of the GL posting for debit and credit transactions for an FA Disposal transaction:
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(a) |
If the FA Module Control option GL update depreciation to branch on asset is not selected: |
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Debit [Gross disposal value] |
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GLControl.FADisposalClearingAccount MyAsset.myProfitCentre.glAccountStructure MyAsset.myProfitCentre.myBranch.glAccountStructure MyAsset.myBranch.glAccountStructure FAControl.myDefaultProfitCentre.myBranch.glAccountStructure GLControl.suspense |
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Credit [Cost of asset (+/-) revaluation and write-off] |
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MyAsset.myAnalysis.CostAccount MyAsset.myProfitCentre.glAccountStructure MyAsset.myProfitCentre.myBranch.glAccountStructure MyAsset.myBranch.glAccountStructure FAControl.myDefaultProfitCentre.myBranch.glAccountStructure GLControl.FACostAccount GLControl.suspense |
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Debit [Total accumulated depreciation + any offset depreciation] |
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MyAsset.myAnalysis.ProvisionForDepreciationAccount MyAsset.myProfitCentre.glAccountStructure MyAsset.myProfitCentre.myBranch.glAccountStructure MyAsset.myBranch.glAccountStructure FAControl.myDefautlProfitCentre.myBranch.glAccountStructure GLControl.FAProvisionForDepreciationAccount GLControl.suspense |
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Credit [Value of any depreciation recovered - if disposal value > book value] |
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GLControl.FADepreciationRecoveredAccount MyAsset.myProfitCentre.glAccountStructure MyAsset.myProfitCentre.myBranch.glAccountStructure MyAsset.myBranch.glAccountStructure FAControl.myDefautlProfitCentre.myBranch.glAccountStructure GLControl.suspense |
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Credit [Value of the profit - if disposal value > cost] |
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GLControl.FAProfitOnSaleAccount MyAsset.myProfitCentre.glAccountStructure MyAsset.myProfitCentre.myBranch.glAccountStructure MyAsset.myBranch.glAccountStructure FAControl.myDefautlProfitCentre.myBranch.glAccountStructure GLControl.suspense |
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Debit [Value of the loss - if disposal value < book value before any depreciation reversal] |
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GLControl.FALossOnSaleAccount MyAsset.myProfitCentre.glAccountStructure MyAsset.myProfitCentre.myBranch.glAccountStructure MyAsset.myBranch.glAccountStructure FAControl.myDefautlProfitCentre.myBranch.glAccountStructure GLControl.suspense |
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Debit [Value of revaluations for the asset] |
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GLControl.FARevaluationReserveAccount MyAsset.myProfitCentre.glAccountStructure MyAsset.myProfitCentre.myBranch.glAccountStructure MyAsset.myBranch.glAccountStructure FAControl.myDefautlProfitCentre.myBranch.glAccountStructure GLControl.suspense |
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Credit [Value of revaluations for the asset] |
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GLControl.FARetainedEarningsAccount |
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Debit [Depreciation reversal amount, if required - see Disposal flag |
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MyAsset.myAnalysis.ProvisionForDepreciationAccount MyAsset.myProfitCentre.glAccountStructure MyAsset.myProfitCentre.myBranch.glAccountStructure MyAsset.myBranch.glAccountStructure FAControl.myDefautlProfitCentre.myBranch.glAccountStructure GLControl.FAProvisionForDepreciationAccount GLControl.suspense |
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Credit [Depreciation reversal amount, if required] |
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MyAsset.myAnalysis.DepreciationAccount MyAsset.myProfitCentre.glAccountStructure MyAsset.myProfitCentre.myBranch.glAccountStructure MyAsset.myBranch.glAccountStructure FAControl.myDefautlProfitCentre.myBranch.glAccountStructure GLControl.FADepreciationAccount GLControl.suspense |
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(b) |
If the Fixed Assets Module Control option GL update depreciation to branch on asset is selected: |
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Debit [Gross disposal value] |
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GLControl.FADisposalClearingAccount MyAsset.myBranch.glAccountStructure MyAsset.myProfitCentre.glAccountStructure MyAsset.myProfitCentre.myBranch.glAccountStructure FAControl.myDefautlProfitCentre.myBranch.glAccountStructure GLControl.suspense |
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Credit [Cost of asset (+/-) revaluation and write-off] |
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MyAsset.myAnalysis.CostAccount MyAsset.myBranch.glAccountStructure MyAsset.myProfitCentre.glAccountStructure MyAsset.myProfitCentre.myBranch.glAccountStructure FAControl.myDefautlProfitCentre.myBranch.glAccountStructure GLControl.FACostAccount GLControl.suspense |
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Debit [Total accumulated depreciation + any offset depreciation] |
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MyAsset.myAnalysis.ProvisionForDepreciationAccount MyAsset.myBranch.glAccountStructure MyAsset.myProfitCentre.glAccountStructure MyAsset.myProfitCentre.myBranch.glAccountStructure FAControl.myDefautlProfitCentre.myBranch.glAccountStructure GLControl.FAProvisionForDepreciationAccount GLControl.suspense |
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Credit [Value of any depreciation recovered - if disposal value > book value] |
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GLControl.FADepreciationRecoveredAccount MyAsset.myBranch.glAccountStructure MyAsset.myProfitCentre.glAccountStructure MyAsset.myProfitCentre.myBranch.glAccountStructure FAControl.myDefautlProfitCentre.myBranch.glAccountStructure GLControl.suspense |
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Credit [Value of the profit - if disposal value > cost] |
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GLControl.FAProfitOnSaleAccount MyAccount.myBranch.glAccountStructure MyAsset.myProfitCentre.glAccountStructure MyAsset.myProfitCentre.myBranch.glAccountStructure FAControl.myDefautlProfitCentre.myBranch.glAccountStructure GLControl.suspense |
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Debit [Value of the loss - if disposal value < book value before any depreciation reversal] |
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GLControl.FALossOnSaleAccount MyAsset.myBranch.glAccountStructure MyAsset.myProfitCentre.glAccountStructure MyAsset.myProfitCentre.myBranch.glAccountStructure FAControl.myDefautlProfitCentre.myBranch.glAccountStructure GLControl.suspense |
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Debit [Value of revaluations for the asset] |
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GLControl.FARevaluationReserveAccount MyAsset.myBranch.glAccountStructure MyAsset.myProfitCentre.glAccountStructure MyAsset.myProfitCentre.myBranch.glAccountStructure FAControl.myDefautlProfitCentre.myBranch.glAccountStructure GLControl.suspense |
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Credit [Value of revaluations for the asset] |
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GLControl.FARetainedEarningsAccount |
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Debit [Depreciation reversal amount, if required] |
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MyAsset.myAnalysis.ProvisionForDepreciationAccount MyAsset.myBranch.glAccountStructure MyAsset.myProfitCentre.glAccountStructure MyAsset.myProfitCentre.myBranch.glAccountStructure FAControl.myDefautlProfitCentre.myBranch.glAccountStructure GLControl.FAProvisionForDepreciationAccount GLControl.suspense |
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Credit [Depreciation reversal amount, if required] |
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MyAsset.myAnalysis.DepreciationAccount MyAsset.myBranch.glAccountStructure MyAsset.myProfitCentre.glAccountStructure MyAsset.myProfitCentre.myBranch.glAccountStructure FAControl.myDefautlProfitCentre.myBranch.glAccountStructure GLControl.FADepreciationAccount GLControl.suspense |