Fixed Assets Accounting Enties

[anjan123]

Hi Folks,

Could some one send me the accounting entries for Fixed Asset Module.

Regards
Anjan

[oteixeira]

Hello.

See chapter 6 (APPS 11.5.10.2) of the Fixed Assets User Guide.

Octavio

[vanisri_mayya]

Hi Anjan,

The FA accounting entries are as below.

1. when asset has been added

Asset a/c Dr.
To Asset clearing a/c

2. For depreciation

Depreciation a/c Dr.
To accumulated depreciation a/c

3. When asset retired

Accumulated Depreciation a/c Dr.
Cost of removal of asset a/c Dr.
Loss or gain on sale of asset Dr. (if loss)
Proceeds of sale a/c Dr.
To asset a/c
To Loss or gain on sale of asset (if gain)


Regards,
Vanisri