Financial - JDE1 (MOSC)

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Setting Up Fixed Assets with no gain/loss

edited Oct 28, 2014 5:50PM in Financial - JDE1 (MOSC) 2 commentsAnswered
Does anyone know of a solution for fixed asset disposals for energy companies?  When an asset is disposed the cost of the asset will be credited and the same amount is debited to accumulated depreciation even if the asset has not been fully depreciated.  A gain/loss is not recorded.  Currently to handle this the AAI for Gain/Loss is coded to a balance sheet account, but then has to be reclassified by a JE into the separate accumulated depreciation accounts.

 

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