Assets posting twice in the GL

What accounts are you using to post to AP and AM. You should use a clearing account to post the invoice to with an asset template attached then in the AM module when creating the asset through the interface process from AP it should clear the account and post to the correct balance sheet asset account.

Let me know if this made sense or if you need more info. It sounds like either process or set up of the accounts in AM that default when adding an asset by type.

Hi Mark,

In AP I'm entering the asset account in the distribution line. Are you suggesting I should enter the clearing account in the distribution lines in AP20.1 with the asset template attached to it? Then when I run AM170 it will post the transaction from AM115 (Dr Asset, Cr Clearing account)?

Yes, when you enter the invoice in AP to the Asset Account you post a dr to that account. Then when you add the asset it will dr the asset account again. By using the clearing account as you indicated it will dr the account in AP then clear it by cr the same account in the asset creation process.

That's great! I really appreciate your help

I am having a similar problem, but we do not post directly out of AP. The invoice gets coded to the clearing account and then I post directly from the clearing account to AM (right now we are adding assets manually in the AM20 tables).

Certain assets get posted twice during our process. Does anybody use the AM20.2, AM20.3, AM20.4 and AM20.5 tables that has encountered this problem?

Thanks.

Sean

Your process sounds more manual with no asset templates being used during capitalization. I have not seen any issues with double posting based on how you are processing. Is it a particular asset type that you see double posting or is it more random. I assume you have looked at the asset groups and types to validate accounts are set up properly.

The asset groups and types are set up correctly as they are the same accounts we have been using for years. The way the process is supposed to work is that after you input the information in AM20.4, it should automatically take you to the memo entries in AM20.5 (at which time you can modify the descriptions, accounts, etc before adding the entry). Recently it stopped automatically taking me from the AM20.4 directly to the AM20.5. So, in order to edit the memo entry I would have to manually go back to the AM20.5. I believe this is why the assets are being posted twice.

I understand it is kind of a peculiar issue, but I just wanted to check to see if anybody, who has the same manual process, ran into a similar issue.

Thanks for your help.