If the user encounters notifications or errors when posting a Fixed Asset Entry document, they should verify the following settings:
- Error message: "The fixed asset has been accepted for accounting."
To avoid this error, the user should check the status of the Fixed Asset in the Fixed Asset Master Data:
The system only allows posting a Fixed Asset Entry for assets with a NEW status. Once the Fixed Asset Entry document is posted, the asset status will automatically change to ACTIVE.
However, if the user manually changes the asset status to ACTIVE before posting the Fixed Asset Entry document, the system will not allow the posting.
How to correct it:
In the Fixed Asset card, the user should open the Fixed Asset Statuses tab and un-post the Fixed Asset Status Change document. This document is automatically created and posted when the user manually changes the status of the Fixed Asset.
After making these corrections, the Fixed Asset Entry document can be posted without any errors.
- Error with "Not enough stock balance" text:
The reason for this type of error is related to items that were purchased before being accounted for as Fixed Assets.
To resolve this, the user should check the following:
Invoice Received document for the item(s): The date of the invoice should be earlier than the date of the Fixed Asset Entry document. (It is recommended to check the stock balance report for the required item).
GL Account consistency: Ensure that the GL account in the Invoice Received document, in the Item GL Accounts in the Inventory Card of the item, and the tabular section of the Fixed Asset Entry document are all the same.
In the Fixed Asset Entry document, the GL Account must match the one in the Inventory Card of the item. If the GL accounts do not match, the system will not be able to find the stock balance on the other GL account and this will prevent the document from being posted.
- In case of an issue with Fixed Asset Depreciation (the document generated automatically during Month-End Closing), the user should check the depreciation parameters set in the Fixed Asset Entry document.
All parameters in the Fixed Asset Entry document should be correctly filled out:
- Expense GL Account
- Initial Cost, Depreciable Cost
- Useful Life (in months)
- Depreciate and Depreciate in current month checkboxes
These parameters are essential for the accurate calculation of depreciation during the month-end closing procedure.
If the user finds any issues with these depreciation parameters, it is best to adjust them using the Changes of Fixed Asset Parameters document (Asset Management > Fixed Asset Documents > Changes of Fixed Asset Parameters).
Thank you for being FirstBit customer! #Fixed asset error #Difference in GL #Changes of Fixed assets parameters