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Asset Sale

I am posting an asset sale. In the asset revenue a/c, system is asking for a CO object assignment. I have assigned the Cost I am posting an asset sale. In the asset revenue a/c, system is asking for a CO object assignment. I have assigned the Cost centre in the Asset master. I have created the Asset revenue a/c as a revenue element.

In our case COPA is active. In this circumstance, should I create all revenue accounts as revenue elements in CO ?

Why the system is asking for a CO assignment for the revenue element since I have already created the asset in a Cost Centre for which a Profit centre is already assigned ?

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  • Posted on Oct 13, 2010 at 06:51 AM

    Hi Niki

    Dont create "sale of asset" account as a cost element... Because it gets nullified with a debit and credit in the same accounting entry

    It id ideal and advisable to create all GLs as cost elements to keep FI and CO in synch, except for cases like COGS, Variance, Change in WIP, etc

    Regards

    Ajay M

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  • author's profile photo Former Member
    Former Member
    Posted on Oct 13, 2010 at 12:50 PM

    Thanks

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