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Jun 15, 2009 at 04:20 PM

Is it possible to manually enter fixed asset opening balances

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Hi all,

Is it possible for user to manually enter opening balances for fixed asset rather than import?

Example:

A Fixed asset is $36000 and to be depreciated over 36 months, $100 per month. The asset has been depreciated for 29 months, starting 2007-01-01 till 2009-05-31. Therefore the NBV is $700 as at 2009- 06-01.

Customer does not want to use the import function to bring this asset into SAP B1. He wants to manually enter using acquisition. Financial year is from Jan to Dec.

Is this possible?

Can we do the following to achieve the correct result?

- Enter acquisition dated 2007-01-01 with value $3600.

- Run depreciation till 2007-12-31

- Create a Reversal JE to cancel away the JE posted by depreciation (because the deprecation figures has already been taken into GL)

- Close fiscal year 2007 and update to 2008 in Fixed Asset module

- Run depreciation till 2008-12-31

- Create a Reversal JE to cancel away the JE posted by depreciation (because the deprecation figures has already been taken into GL)

- Close fiscal year 2008 and update to 2009 in Fixed Asset module

- Run depreciation till 2009-05-31

- Create a Reversal JE to cancel away the JE posted by depreciation (because the deprecation figures has already been taken into GL)

- Starting June, run monthly depreciation as usual using SAP B1.

Will the above achieve correct result? Any suggestion?

Thanks,

Veron