I wonder if someone can help with the following question
1. We need to purchase an Asset on a Purchase order (as service) to make use of the approval procedure, however, I want to benefit from the correct postings on the Fixed Assets acquisition side.
From an experimentation
When an asset is acquired using the Acquisition side, it all works fine
Correct Vendor credited, correct GL account for the asset@cost debited and correct Tax control account debited, correct TAX group (VAT code)
The problem here is that there is not why of generating a Purchase order.
If a Purchase order is generated for the asset (as service), which is then copied to an AP invoice, it is ok, however, when the asset is proseed in the quisition, there are issues with the asset not bringing the VAT amount into the GL posting
Should we just make a purchase order, and then mark it as closed.
What is best practice around handling assets in terms of purchase order, AP invoice and Aquistions? Should there be interim GL accounts?
GL Account determiniation
What is the Default Revenue Acc Retirement usually defaulted to?