AM: Missing GA (Gain/Loss) Accounting Entry After Asset Reinstated  (Doc ID 2697188.1)

Last updated on SEPTEMBER 23, 2021

Applies to:

Symptoms

When asset is retired for sale with gain (GA) and 'Create Bill' checked, accounting entries are fine but, if reinstating the asset, the resulting accounting entries are unbalanced, missing GA.

Steps:

1. Enable Billing interface on AM BU: SPN01.

2. On the RET Accounting Entry Templates setup, the Proceeds to Billing (PB) distribution type does not have any account attached to it:
- Added the account to it.

3. Create a new asset in BU SPN01.

4. Run Depreciation.

5. Create Accounting Entries.

6. Retire the asset:
- Create Bill is Checked.
- Change the default VAT from taxable to Exempt.

7. Run Depreciation.

8. Create Accounting entries.

9. Reinstate the asset.

Note: If checking VAT tab, it can be observed that the initial VAT details from RET has been changed to default values (Applicability is now "Taxable" but on RET was "Exempt").

10.Run Depreciation.

11. Create accounting entries.
12. Review accounting entries:

BUSINESS_UNIT ASSET_ID BOOK DTTM_STAMP CF_SEQNO DISTRIBUTION_TYPE TRANS_TYPE C
OST_TYPE TRANS_CODE APPL_JRNL_ID AMOUNT
SPN01 2 ASSETS_ESP 13-FEB-20 04.59.24.000000000 AM 0 FA ADD C S ADD 3000
SPN01 2 ASSETS_ESP 13-FEB-20 04.59.24.000000000 AM 0 AP ADD C S ADD -3000
SPN01 2 ASSETS_ESP 13-FEB-20 05.04.41.000000000 AM 0 FA RET C RET -3000
SPN01 2 ASSETS_ESP 13-FEB-20 05.04.41.000000000 AM 0 AD RET C RET 353
SPN01 2 ASSETS_ESP 13-FEB-20 05.04.41.000000000 AM 0 PB RET C RET 2980
SPN01 2 ASSETS_ESP 13-FEB-20 05.04.41.000000000 AM 0 GA RET C RET -333
SPN01 2 ASSETS_ESP 13-FEB-20 05.14.05.000000000 AM 0 FA REI C RET 3000
SPN01 2 ASSETS_ESP 13-FEB-20 05.14.05.000000000 AM 0 AD REI C RET -353

Note:
When asset is retired for sale with gain (GA), accounting entries is ok, but if you reinstate the asset, resulting accounting entries are unbalanced, missing GA.

Cause

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