ASKB functionality

[Former Member]

Dear Seniors,

What is the functionality of ASKB. How exactly it picks the figures for the line items.

As per my knowledge, ASKB posts the difference in Depreciation posting of two different books are posted. Let's say for example, difference in Depreciation adjustment entries between INGAAP and USGAAP willl be posted to INGAAP books.

But, in our case, one entry is posted to Clearing Revenue GL also. How this GLs are picked and what is the reason for picking clearing revenue GL?

Thanks and Regards

KVKR

[MarkusBredel · Accepted solution]

Hi KVKR,

sorry, but your question is too general. Please post a concrete question, if possible with a concrete example. Then you will get more replies I guess.

Regards,

Markus

[Former Member · Accepted solution]

Hi,

The basic issue is, when we run ASKB, Clearing revenue GL should not be hit. But, in one of the cases it is happening like that. I would like to know the scenarios when the clearing revenue GL is hit, while doing ASKB.

I would like to give an example, how ASKB works. (This is a real case from the production system )

Descriptions of the GLs involved in the transactions are given below -

573102 - Loss from disposal - machinery/equipment

573103 - Profit from disposal - machinery/equipment

573104 - Clearing revenue for assets sales-Mach & Eqpt (Cr)

21400001 - Plant and machinery - General

21400016 - Vehicles

21450015 - Accum Depreciation- Vehicles

When we sell assets the following documents will get posted in both IN and US GAAP books

Vehicles

573102 Dr 667410.27

573104 Dr 133332

21400016 Cr 1821380

21450015 Dr 1020637.73

573102 Dr 180872

573103 Cr 40449

573104 Dr 283628

21400001 Cr 424051

Entries should have been

in US GAAP

-

---

GL Debit Credit

573102 667410.27

573104 133332

21400016 1821380

21450015 1020637.73

573102 180872

573103 40449

573104 283628

21400001 424051

in IN GAAP

-

---

GL Debit Credit

573102 816313

573104 133332

21400016 1863059

21450015 913414

573102

573103 283628

573104 283628

21400001 0

So, ASKB posts the following entry

*only in IN GAAP *

GL Debit Credit

573102 275147.12

573103

573104

21400016 41679

21450015 107224.88

21400001 424051

Now, the doubt is the above example is a peculiar case, where, even the Gross Block values in IN GAAP and US GAAP books are different. Even in this case, while doing ASKB, Clearing revenue GL is not coming.

But, in one of the cases of our organization, when we run ASKB for a particular month, system is showing 7 million figure in Clearing revenue GL. What could be the reason for this?

According to my understanding, Clearing revenue GL should not be hit at all.

Plz advise.

Regards

[Former Member · Accepted solution]

Hi,

The basic issue is, when we run ASKB, Clearing revenue GL should not be hit. But, in one of the cases it is happening like that. I would like to know the scenarios when the clearing revenue GL is hit, while doing ASKB.

I would like to give an example, how ASKB works. (This is a real case from the production system )

Descriptions of the GLs involved in the transactions are given below -

573102 - Loss from disposal - M & E

573103 - Profit from disposal - M & E

573104 - Clearing revenue for assets sales-Mach & Eqpt (Cr)

21400001 - Plant and machinery - General

21400016 - Vehicles

21450015 - Accum Depreciation- Vehicles

When we sell assets the following documents will get posted in both IN and US GAAP books

Vehicles

573102 Dr 667410.27

573104 Dr 133332

21400016 Cr 1821380

21450015 Dr 1020637.73

573102 Dr 180872

573103 Cr 40449

573104 Dr 283628

21400001 Cr 424051

Entries should have been

in US GAAP

-

---

573102 Dr 667410.27

573104 Dr 133332

21400016 Cr 1821380

21450015 Dr 1020637.73

573102 Dr 180872

573103 Cr 40449

573104 Dr 283628

21400001 Cr 424051

in IN GAAP

-

---

573102 Dr 816313

573104 Dr 133332

21400016 Cr 1863059

21450015 Dr 913414

573102

573103 Cr 283628

573104 Dr 283628

21400001 Dr 0

So, ASKB posts the following entry

*only in IN GAAP *

573102 Cr 275147.12

573103

573104

21400016 Cr 41679

21450015 Cr 107224.88

21400001 Dr 424051

Now, the doubt is the above example is a peculiar case, where, even the Gross Block values in IN GAAP and US GAAP books are different. Even in this case, while doing ASKB, Clearing revenue GL is not coming.

But, in one of the cases of our organization, when we run ASKB for a particular month, system is showing huge amount in Clearing revenue GL. What could be the reason for this?

According to my understanding, Clearing revenue GL should not be hit at all.

Plz advise.

Regards

[Former Member · Accepted solution]

This message was moderated.