Reclassification of Fixed Assets
The "Fixed Asset Reclassification Journals" allow for the reclassification of fixed assets.
This includes the ability to allocate, merge, or move fixed assets between different categories and groups.
Creating Reclassification of Fixed Assets Journal lines
- Click
to open Search, enter Fixed Asset Reclassification Journals, select the appropriate link. - On the Fixed Asset Reclassification Journals page, select the appropriate Batch Name.
- On the journal page, fill in the following fields:
| Field | Description |
|---|---|
| FA Posting Date | Specifies the posting date of the related fixed asset transaction. |
| Document No. | Specifies a value depending on how you have set up the number series that is assigned to the current journal batch. |
| FA No. | Specifies the number of the related fixed asset. |
| New FA No. | Specifies the number of the fixed asset you want to reclassify to. |
| Depreciation Book Code | Specifies the code for the depreciation book to which the line will be posted. |
| Description | Specifies the description of the asset entered in the FA No field. |
| Reclassify Acq. Cost % | Specifies the percentage of the acquisition cost you want to reclassify. |
| Reclassify Acquisition Cost | Specifies the reclassification of the acquisition cost for the fixed asset entered in the FA No. field to the fixed asset entered in the New FA No. field. |
| Reclassify Depreciation | Specifies the reclassification of the accumulated depreciation for the fixed asset entered in the FA No. field to the fixed asset entered in the New FA No. field. |
| Insert Bal.Account | Specifies whether to create one or more balancing entry lines in the FA general ledger journal or FA Journal. |
| New Depreciation Book Code | Specifies the new depreciation book code associated with the fixed asset reclassification journal line. |
| Employee No. | Specifies the number of the involved employee. |
| FA Location Code | Specifies the location, where the fixed asset is located. |
| Reclassify Book Value | Specifies the reclassification of the book value for the fixed asset entered in the FA No. field to the fixed asset entered in the New FA No. field. |
Note
To allocate the value of fixed assets according to the specified percentages, you need to enable the Reclassify Acquisition Cost, Reclassify Depreciation, and Reclassify Book Value fields.
- Click Reclassify.
The Fixed Asset Reclassification Journals task allocates the value of fixed assets according to the specified percentages and creates lines in the Fixed Asset G/L Journals.
To review and post created journal lines, click to open Search, enter Fixed Asset G/L Journals, select the appropriate link. Post the created journal lines.
Useful links
Creating a Fixed Asset card
FA Release Act
Internal movement of fixed assets
Repair and modernization of fixed assets