NBV Account
Hi,
When an asset is fully retired, we are having problems with the journal entry generated because of this action:
1) An asset is assigned to a particular cost center (ie. cc T0001)
2) Depreciation period is correctly accounting to the cost center and account used for depreciate assets.
3) When the asset is retired and the gain and loss program is run, the program is getting the desired account for Net Book Value (NBV) but is using a 0 as the value for cost center.
My question is, why the gain/loss program is not getting the same cc (T0001 for this example) where the asset is assigned for depreciate and instead of this is getting a 0 as the cost center value?
When an asset is fully retired, we are having problems with the journal entry generated because of this action:
1) An asset is assigned to a particular cost center (ie. cc T0001)
2) Depreciation period is correctly accounting to the cost center and account used for depreciate assets.
3) When the asset is retired and the gain and loss program is run, the program is getting the desired account for Net Book Value (NBV) but is using a 0 as the value for cost center.
My question is, why the gain/loss program is not getting the same cc (T0001 for this example) where the asset is assigned for depreciate and instead of this is getting a 0 as the cost center value?
0