Skip to Content
author's profile photo Former Member
Former Member

SAP Entry for Asset

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

Add a comment
10|10000 characters needed characters exceeded

Assigned Tags

Related questions

1 Answer

  • Best Answer
    author's profile photo Former Member
    Former Member
    Posted on Nov 24, 2007 at 11:06 AM

    Hi,

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

    Add a comment
    10|10000 characters needed characters exceeded

    • Former Member

      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

Before answering

You should only submit an answer when you are proposing a solution to the poster's problem. If you want the poster to clarify the question or provide more information, please leave a comment instead, requesting additional details. When answering, please include specifics, such as step-by-step instructions, context for the solution, and links to useful resources. Also, please make sure that you answer complies with our Rules of Engagement.
You must be Logged in to submit an answer.

Up to 10 attachments (including images) can be used with a maximum of 1.0 MB each and 10.5 MB total.