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Dear All

Its urgent requirement from our client we need to replace the accounts in FA module option. Presently we have two accounts one is for Gain & one is for loss. we want to keep one account for both. If we Replace these accounts what will be the impact on Accounting ?
urgent reply plz

Update same account for both gain/loss fields. FA will generate entries for new and old retired assets with that particular account.
Verify the impact in test instance and let us know the results.

Thanks,

Hi,

There won't be any major impact in accounting, the only difference will be that you won't be able to get balances for gain/loss differently .....what you will get is the net balance i.e total gain or loss due to entries passed.
Actually you can also get individual gain/loss by summing the net cr or net dr

You can very well have both gain and loss as same account. The next time when you create accounting, system will post the gain/loss in retirment to this account. If you want to have different account for gain nad loss, you can do so anytime. This will not have any effect on the closed FA periods.

Cheers,
Saravanan TG

Hi qamer

Please test the solution on test server. for the next time the new accounts will be generated but you need to check the old assets.

Thanks
Hisham

HI All
thanks to all who posted

SO iam going to change the accounts instead of two i will keep one

a/c no. 11111 is for proceeds from Gain on sale
same as for proceeds from loss on sale.

thanks again you all