SAP Entry for Asset

[Former Member]

Hi

I have an issue for a particular asset.Befor the go live happened , a loss which had occured for sale of asset prior to go live has been transferred to the legacy balance account in SAP. However, in SAP, the asset during the go live financial year were created manually and so was the treatment for asset in question.This asset was retired before the go live. So when we retired the asset in the system, the amount of loss has been transferred to the "Loss on Sale of asset" account and the same amount is also there in the legacy account. As a result there is a difference in the balance sheet.

Pls suggest what could be the way out?

Regards

Sanil Bhandari

[Former Member · Accepted solution]

Hi,

update the Customer account, Depreciation and sale of fixed account.

[Former Member · Accepted solution]

Hi

My issue is we have transferred the loss so incurred on sale of asset with customer through legacy upload and then again booked the asset through the asset retirement in SAP through revenue w/o customer. In this way, the entry has been booked twice as a loss. We then reversed the txn of trf from legacy Trf a/c to loss on sale of A/c so that my profit figure tallies with that of legacy system. So now the entry is o/s in my Legacy Trf a/c as a credit entry. We have tallied the fixed asset, depreciation and P&L for the entrie year and cannot figure out the way to deal with the o/s entry in the Legacy Trf A/c.

Regards

Sanil Bhandari