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    Gopal Somani
    Accounting of Expense Assets in Fusion Assets
    Topic posted October 9, 2019 by Gopal SomaniRed Ribbon: 250+ Points, tagged Assets, Financials, Payables 
    24 Views, 1 Comment
    Title:
    Accounting of Expense Assets in Fusion Assets
    Content:

    Hi Team,

     

    I have created a payables invoice with expense account in distribution. I have marked that line as 'Track as an Asset'. I ran mass addition and moved it to FA for asset creation. I was able to create an Expensed Asset. But when i ran accounting i could see that below accounting got generated -

    Asset clearing (Expense account entered at payables distribution) CREDIT

    Asset COST DEBIT

    I was hoping that no accounting should get generated for expensed assets in Fusion Assets. Please let me know if my understanding is not correct. And please let me know the way to stop entry of expensed assets in fusion Assets.

     

    Thanks in Advance.

    Comment

     

    • Julien Dubouis

      Hi Gopal,
      I'm not sure to understand your expectation : you would have hoped that another account is on credit (like the asset category clearing account for instance)  or you would have expected to not generate any depreciation and have it in the inventory without any FA entries ? 
      If that's the latter, the behavior you're having is normal. You would have to create an additional entry (unplanned depreciation) to fully expense what would be depreciated otherwise.