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Purchase Credit Memo for Fixed Asset

  • 1.  Purchase Credit Memo for Fixed Asset

    TOP CONTRIBUTOR
    Posted Jan 24, 2019 11:28 AM
    ​It seems NAV 2018 doesn't handle Credit Memos for Fixed Asset (that we would want to deduct or Dispose I guess).
    I checked the code in the posting and it only handles Acquisiton and Maintenance.

    How would you do a Credit Memo on a FA purchase then?

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    Samuel Champoux
    IT Director
    Drummondville QC Canada
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  • 2.  RE: Purchase Credit Memo for Fixed Asset

    TOP CONTRIBUTOR
    Posted Jan 24, 2019 12:11 PM
    Samuel,

    The answer depends on what you are trying to do with the credit memo, however in most cases, the answer is probably the same - a FA Journal or FA G/L Journal entry. The type of entry (disposal or acquisition) will determine what happens to the asset.

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    Cynthia Priebe MCP, DCP
    Senior Analyst and Project Manager
    Liberty Grove Software
    ------------------------------



  • 3.  RE: Purchase Credit Memo for Fixed Asset

    TOP CONTRIBUTOR
    Posted Jan 24, 2019 12:49 PM
    If you have a credit memo to reduce the acquisition cost, you can use the purchase credit memo with acquisition as the fixed asset type. However, you cannot use a purchase credit memo to dispose of an asset.

    Like @Cynthia Priebe MCP, DCP stated, you would need to you the appropriate fixed asset journal to do you disposal.


    ------------------------------
    Kim Dallefeld
    Kim@Dallefeld.com
    Dallefeld Consulting, LLC
    Member of Dynamics Consulting Group
    Ft. Worth, TX
    2019 NAVUG Board of Advisors
    Past NAVUG Board Chairman
    NAVUG Programming Committee
    ------------------------------



  • 4.  RE: Purchase Credit Memo for Fixed Asset

    Posted Jan 24, 2019 07:13 PM
    I agree with your answer. Purchase credit memo is general for all purchases. If the FA was posted into the system with a purchase invoice with acquisition as FA type then the purchase credit memo can be used again with acquisition as FA type

    In fact I when I create a credit memo that has to do with either sales or purchase entry i will open blank credit memo and copy document, select the relevant invoice into the credit memo and proceed to edit

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    Yusuf Newland
    MGAC
    Washintgon DC
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  • 5.  RE: Purchase Credit Memo for Fixed Asset

    TOP CONTRIBUTOR
    Posted Jan 25, 2019 11:26 AM
    ​That is what we are trying to do but we get this error:
    Acquisition Cost must not be negative on 19-01-16 for Fixed Asset No. = FA000041 in Depreciation Book Code = GENERAL.

    ------------------------------
    Samuel Champoux
    IT Director
    Drummondville QC Canada
    ------------------------------



  • 6.  RE: Purchase Credit Memo for Fixed Asset

    TOP CONTRIBUTOR
    Posted Jan 24, 2019 12:51 PM
    Edited by Samuel Champoux Jan 24, 2019 01:10 PM
    Hi Cynthia​,

    We thought about a journal, but the problem was the taxes.
    We need to process them via something that handles the taxes like an invoice or a credit memo.

    ------------------------------
    Samuel Champoux
    IT Director
    Drummondville QC Canada
    ------------------------------



  • 7.  RE: Purchase Credit Memo for Fixed Asset

    TOP CONTRIBUTOR
    Posted Jan 24, 2019 12:54 PM
    Edited by Samuel Champoux Jan 24, 2019 01:11 PM
    ​Hi Kim,
    When we do a Purchase credit memo on a fixed asset it errors out saying the Acquisition cost must be positive.

    ------------------------------
    Samuel Champoux
    IT Director
    Drummondville QC Canada
    ------------------------------



  • 8.  RE: Purchase Credit Memo for Fixed Asset

    TOP CONTRIBUTOR
    Posted Jan 24, 2019 01:02 PM
    Oh wow, that part, I did not know.  So you cannot do a purchase credit memo with a posting type of acquisition cost? That's bad..

    ------------------------------
    Kim Dallefeld
    Kim@Dallefeld.com
    Dallefeld Consulting, LLC
    Member of Dynamics Consulting Group
    Ft. Worth, TX
    2019 NAVUG Board of Advisors
    Past NAVUG Board Chairman
    NAVUG Programming Committee
    ------------------------------



  • 9.  RE: Purchase Credit Memo for Fixed Asset

    TOP CONTRIBUTOR
    Posted Jan 24, 2019 12:55 PM
    It might be helpful to explain more fully what you are trying to accomplish. Are you trying to dispose of the item do to a sale or donation? Did you post acquisition costs that now need to be reduced?

    ------------------------------
    Kim Dallefeld
    Kim@Dallefeld.com
    Dallefeld Consulting, LLC
    Member of Dynamics Consulting Group
    Ft. Worth, TX
    2019 NAVUG Board of Advisors
    Past NAVUG Board Chairman
    NAVUG Programming Committee
    ------------------------------



  • 10.  RE: Purchase Credit Memo for Fixed Asset

    TOP CONTRIBUTOR
    Posted Jan 24, 2019 01:10 PM
    ​We have grouped assets in one Fixed asset, like IT computers 2019 and post all purchases of computers in there.
    But now we need to credit one of the purchases... which doesn't seem possible.

    The only other solution I thought of would be to create a customer, make an invoice to sell part of the FA and then do a journal to balance out the Vendor with the dummy Customer.

    ------------------------------
    Samuel Champoux
    IT Director
    Drummondville QC Canada
    ------------------------------



  • 11.  RE: Purchase Credit Memo for Fixed Asset

    TOP CONTRIBUTOR
    Posted Jan 24, 2019 01:20 PM
    Are you interfaced to the GL with your fixed assets? Why not do an FA GL journal put the asset on a line with a negative amount and a type of acquisition, put the taxes on another line to the applicable gl account. I just tested this in 2018 and it worked for m.

    ------------------------------
    Kim Dallefeld
    Kim@Dallefeld.com
    Dallefeld Consulting, LLC
    Member of Dynamics Consulting Group
    Ft. Worth, TX
    2019 NAVUG Board of Advisors
    Past NAVUG Board Chairman
    NAVUG Programming Committee
    ------------------------------



  • 12.  RE: Purchase Credit Memo for Fixed Asset

    TOP CONTRIBUTOR
    Posted Jan 24, 2019 02:54 PM
    We have our tax accounts with direct posting disabled, as our Partner told us we should not post directly.
    It would affect the year tax reporting at the end of the year.

    ------------------------------
    Samuel Champoux
    IT Director
    Drummondville QC Canada
    ------------------------------



  • 13.  RE: Purchase Credit Memo for Fixed Asset

    TOP CONTRIBUTOR
    Posted Jan 24, 2019 03:03 PM
    ​Even if I post the tax to the GL, my other part of the FA journal should be the vendor, but it can't be selected, it says only GL or bank accounts can be selected.

    ------------------------------
    Samuel Champoux
    IT Director
    Drummondville QC Canada
    ------------------------------



  • 14.  RE: Purchase Credit Memo for Fixed Asset

    TOP CONTRIBUTOR
    Posted Jan 24, 2019 03:09 PM
    Samuel, I just posted a purchase credit memo to a fixed asset in my 2018 database!

    Can you supply some screenshots of your data and the error.

    This should be a standard feature that works.

    ------------------------------
    Kim Dallefeld
    Kim@Dallefeld.com
    Dallefeld Consulting, LLC
    Member of Dynamics Consulting Group
    Ft. Worth, TX
    2019 NAVUG Board of Advisors
    Past NAVUG Board Chairman
    NAVUG Programming Committee
    ------------------------------



  • 15.  RE: Purchase Credit Memo for Fixed Asset

    TOP CONTRIBUTOR
    Posted Jan 24, 2019 03:22 PM
    ​This is the error I get:
    Acquisition Cost must not be negative on 19-01-16 for Fixed Asset No. = FA000041 in Depreciation Book Code = GENERAL.

    In the FA Posing Type field I only have Acquisition Cost and Maintenance.

    ------------------------------
    Samuel Champoux
    IT Director
    Drummondville QC Canada
    ------------------------------



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