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how to make asset in initial GL zero

May 12, 2017 at 01:19 PM

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Dear All,

We have a an issue we have posted asset legacy now we want to post value to the GL account through OASV t code we have maintain the GL account as initial asset upload issue is regarding satelliting the GL account of initial asset upload account Accounting entry as below

Assest account DR 10,0000

Asset initial upload account CR 10,0000

Accumulated Depreciation CR 8,000

Asset initial upload account DR 8,000

now doubt how to clear Asset initial upload account as it should be Zero please help

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1 Answer

Shinas Hamsa May 12, 2017 at 02:21 PM
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Hi

I am not sure about the Posting, But when u mention Accumulated Depreciation, there should be a Depreciation expenses too.

So Post

Depr exp Dr. 2000

Initial Asset Cr. 2000

Thanks...

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