Hello all,
I work in the real estate accounting department of a large retailer. At quarter/year end we are required to prepare a set of workpapers to support the fixed asset ledger and related P&L accounts. Currently, we are using the following reports:
To support asset account activity:
S_ALR_87011967 – Asset balances by site
S_ALR_87012050 – Asset acquisitions
S_ALR_87012052 – Asset retirements
S_ALR_87012054 – Intracompany asset transfers
To support P&L account activity:
FBL3N – G/L account line items
The problem we are running into is that, for example, impairment losses are processed by retiring all the assets of the company and reacquiring them at the new fair market value. The net difference is the loss on impairment. Unfortunately, it shows up in our reports as a very large retirement followed by a very large acquisition. These need to be netted together on our schedules for the auditors. The problem right now is that we don’t have a good detail report to find impairment retirements/acquisitions, for when we select “list assets” in the retirements or acquisitions report it gives a hierarchical style report, which is almost impossible to export and process in Excel.
So, my question is really twofold. Firstly, is it possible to turn off the hierarchical setting of a retirements or acquisition report when “list assets” is selected? Ideally, I'd like to see all the same data on a single row.
Secondly, my real dream report would be more of a standard general ledger with a beginning balance, activity, and ending balance for the period that I could use for all my balance sheet and P&L accounts. I’ve tried using the FBL3N report for the balance sheet accounts and it works okay, but I haven’t been able to figure out how to get it to show the transaction types from the fixed asset ledger. I read something in another post that talked about using the BWASL field to show the transaction types, but I wasn’t able to locate it in the available fields list. Do I need to do something special when I run the report?
Thank you so much!
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.