I know you want to want to link all of these into automated actionable steps that make sense to your business processes but you must remember:
General Ledger entries are ONLY for economic events. Receipt of an invoice is NOT an economic event. If you receive a fixed asset you: Debit: Fixed Asset Credit: Accounts Payable If you want to create a relationship between the fixed asset and an invoice, great. If you want to create a relationship between the invoice and a vendor's account, great. If you want to create a relationship between a general ledger entry and an invoice or a fixed asset, great. But under no circumstance should you record a non economic event in the general ledger. --- Si Chen <[EMAIL PROTECTED]> wrote: > David, > > I think what should happen is this: > > When any fixed asset is created, if we know the > ownerPartyId, then we > can create: > > Debit Fixed Asset (or a specific FixedAsset GL > account) > Credit Uninvoiced Fixed Asset Receipt > > Then, when you have a purchase invoice with a fixed > asset item > created, you can do this: > > Debit Uninvoiced Fixed Asset Receipt > Credit a Payable of some kind--Accounts > Payable? I'm not sure - > often fixed assets are bought with loans. > > Then we'd have to think about doing the depreciation > calculations, > that's what I think could be complicated. > > Best Regards, > > Si > [EMAIL PROTECTED] > > > >
