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Hi Sophie
An Excess / Shortage during inventory ( be it a current asset or fixed asset
), as you know , is no healthy sign and requires further investigation.
However, after doing so they can be accommodated if considered reasonable
owing to valid reasons.
In case there is a shortage, you could scrap the asset (in books) by posting
a document which triggers the loss account using account determination
pertaining to the related asset class.
In case there is an excess ( I wonder how this can happen !), ascertain the
reasons for omitting to book the related documents and account the same in
books. If you are unable to find adequate book documentation , you could
possibly post a transaction debiting the asset and crediting a clearing
account. The clearing account is maintained using open item management and
in case you receive a justified external claim from a vendor or so , you
could reverse the same by creating a vendor liability. After awaiting a
reasonable period of time you determine that there would not be a claim,
you could reverse the clearing account and post to miscellaneous revenue (
since it is a profit ). However, please make your arrangement to comply with
statutory norms since such miscellaneous losses and revenues usually come
under the scanner by statutory authorities.
Regards
VidhyaDhar
| | | ---------------Original Message---------------
From: Sophie
Sent: Wednesday, December 15, 2010 11:15 PM
Subject: Fixed asset gain or loss Transaction code
Many thanks all of you.
When I say Fixed asset gain or loss, I mean, just as Stock physical taking, we will have a Physical taking for Fixed asset each year, and during the physical taking, we will have two cases:
1/ Physical fixed asset more than the Fixed asset registered in the FI-AA ledger, this cause Fixed asset gain.
1/ Physical fixed asset less than the Fixed asset registered in the FI-AA ledger, this cause Fixed asset loss.
I'm not talking the Fixed asset disposal or sales.
Sorry for the confusion.
many thanks
best regards
Sophie |
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