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Re: Asset gain/loss entry

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This issue is resolved.  We defined new asset classes  and new account determinations for them.  We assigned the new account determinations to the asset classes.   The account determination for retirement account assignment fields were each populated with the P&L account desired.  The acquisition account assignment acquisition:acquis and production costs account and contra account: acquisition value fields did not require a change.  All other fields were not populated.  The depreciation Ordinary depreciation account assignment fields, and Unplanned depreciation account assignment fields did not require account number change.  We had to create new prior year and current transaction types for retirements unchecking post gain/loss to asset.  We also created Gain/Loss posting variants transation type selection:special treatment of retirement for each new transaciton type using retirement type 0 for depreciation area 1 (book).  This gave the desired result with one exception.  The revenue entry posted to the P&L account and had to be reclassed to the clearing account.  The entry looks like this:

 

Create new asset for new asset class using the same post capitalization date

Transfer costs from original asset to new asset.  Verify that accumulated depreciation transfers correctly.

Book retirement with revenue using new transaction type (with retirement type 0 for depreciation area 1).

 

Credit       General Plant                              (1000.00)

Debit         A/D General Plant                           15.00

Debit         Misc Non Op Income                  3000.00

Credit        Misc Non Op Income                   (985.00)

 

 

Manual reclass:

Debit         Misc Non Op Income                      985.00

Credit        Clearing account                            (985.00)

 

I hope this helps anyone else that encounters this request. 


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