Hi,

Please explaing the following,

We enter the following transactions in the general ledger for disposal of fixed asset

DR Accounts Receivable
CR Fixed Assets Sales Interim Account

How are the following entries on disposal of fixed assets triggered in the FAS Module?

Booking of revenue to P&L

DR Fixed Assets Sales Interim Account (Balance Sheet)

CR Fixed Assets Sales Revenue (Profit & Loss)

Booking of Cost

DR Accumulated Depreciation (Balance Sheet)

DR Book Value of Asset (P&L Account)

CR Investment Account (Balance Sheet)

How is the transaction schedule set up for book value in FAS Module. Is it enough to give only the debit account and leave the credit account open?

Regards,

Harish

Hi,
Both the accounts viz. debit & credit accounts to be maintained. Care to be taken so that the account used for the investment transaction type has to be attached as the credit account in the transaction type of book value.