Fund checking for Asset Purchases
Hi
I would like to get a suitable approach to enable the fund checking of the asset purchases at the requisition and purchase order level. Currently we are using asset clearing account in the procurement level and when the asset is added the clearing accounts funds effect getting reversed. I would like to get best possible approach to handle the situation from the below with draw backs in case of any.
1. Using Budgetary control setup at the summary accounts level including the asset and clearing accounts.
2. Use an Expense account (instead of asset clearing) at Procurement level and reverse this effect to different expense (contra) account and charge to asset clearing at the AP level. This way there wouldnt be any link with Purchase order and asset.
I would like to get a suitable approach to enable the fund checking of the asset purchases at the requisition and purchase order level. Currently we are using asset clearing account in the procurement level and when the asset is added the clearing accounts funds effect getting reversed. I would like to get best possible approach to handle the situation from the below with draw backs in case of any.
1. Using Budgetary control setup at the summary accounts level including the asset and clearing accounts.
2. Use an Expense account (instead of asset clearing) at Procurement level and reverse this effect to different expense (contra) account and charge to asset clearing at the AP level. This way there wouldnt be any link with Purchase order and asset.
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