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Asset clearing A/c maintained as P&L

Hi experts,

I know i am asking a very basic question. Please help me out to resolve this issue. Since 5 years in our company they have maintained Asset clearing A/c as P&L A/c and they faced difficulties in clearing the WBS during year end closing. So now they want Asset clearing A/c to be activated for Open Item Management. What can be done and suggest a way to resolve this issue.

I searched all over SCN but didn't get clear idea on this. I learnt from SCN that we have differences in Vendor/Customer clearing and Asset clearing.


I want to know in what cases Asset clearing A/c should be activated and not activated for Open Item Management.


Please help me.



Thanks in advance

Sandeep

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2 Answers

  • Best Answer
    Posted on Jul 25, 2016 at 10:07 AM

    Dear,

    If the entries has been posted, than you need to create another GL with open item manage check and transfer the value of old GL to new GL. Make sure you transfer the value with clearing. this will update the New GL and nulify the old GL. You will see the values in old GL but the net impact of GL will be Zero.

    BR,

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    • Former Member Muhammad Arif Billah

      Hi Arif/Mukthar,

      I agree with you all and thanks for advising me for Internal Order but in our company Internal order is not at all used as they have PS Module they are following WBS Element.

      Thanks for your suggestions i will take this matter to my client and discuss.

      Thanking you,

      Sandeep

  • Posted on Jul 25, 2016 at 10:01 AM

    Hi Sandeep,

    Which asset clearing account are you talking?

    Regards,

    Mukthar

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