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Jun 21, 2013 at 10:44 AM

How to choose a different GL Account for Asset Contra Account than configured in Account Determination at the time of Asset Retirement

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Hello,

We are having a Asset Retirement scenario as below:

1. Assets are Retired on a periodic basis. This process takes a substantial amount of time as there are many approvals involved.


2. In Asset Retirement with Revenue there are 2 possibilities:


3. In some cases cash is received from the Customer before Retirement entries are passed in the books AND in some cases Cash is received after entries are passed.


4. A check is done on the Asset Contra Account to confirm if Cash has already been received. If YES; Normal Retirement is carried out via ABAON and per the configuration.


5. If Cash is not received then 2 steps are carried out.


6. First ABAON transaction is run; where the accounts which are already configured are picked up.


7. Secondly manual entries are passed to clear the balances from Asset Contra account to Asset Held for Disposal (AHD) Account & balance from PPE account to Write Off account using FB01 using SA document type.

So the requirement is how to enable direct transfer so that the amounts go to AHD & Write off account instead of Asset Contra & PPE; but keeping the Asset Procurement Cost (APC) & Accumulated Depreciation (AD) accounts same.

This is also a requirement under IFRS5 - Non Current Assets Held for sale. Eagerly awaiting response.

Thanks & Regards
Shreenath Sarnobat