Understanding Fixed Asset Processing
You can generate fixed asset journal entries through any JD Edwards EnterpriseOne system that creates entries in the Account Ledger table (F0911). Systems that frequently generate journal entries that affect the JD Edwards EnterpriseOne Fixed Assets system are:
JD Edwards EnterpriseOne Accounts Payable
JD Edwards EnterpriseOne General Accounting
JD Edwards EnterpriseOne Inventory Management
JD Edwards EnterpriseOne Procurement
JD Edwards EnterpriseOne Equipment Plant Management
The system identifies fixed asset journal entries based on the fixed asset range of accounts that you set up in the automatic accounting instructions (AAIs). Accounts that fall within the fixed asset (FX) range of the AAIs include:
Asset cost accounts
Accumulated depreciation accounts
Operating expense accounts
Asset disposal accounts
In addition to determining which accounts fall into the fixed asset range, you can use subledger functions to reflect another dimension of the costs. For example, you can use subledgers to display original cost; additions; and, if necessary, restatement or revaluation cost. These functions are useful when these components have different depreciation schedules.
After the system creates journal entries for the asset transactions that you enter, possibly including subledger information, you must post the entries first to the general ledger and then to fixed assets. When you post to the general ledger, the system updates the Account Balances table (F0902). When you post to fixed assets, the system updates the F1202 table.
Before posting journal entries to fixed assets, the system verifies that each entry includes:
A general ledger post code of P, which means that the journal entry has been posted to the F0902 table, except when posting ledgers with a transaction creation code of 2.
An account that falls within the fixed asset range of accounts set up in AAIs.
A fixed asset post code of blank to indicate that the system has not yet posted the journal entry to table F1202.
A valid asset number.
A hold code of blank.
When you post journal entries to fixed assets, the system updates the F1202 table and marks each transaction as posted.
This graphic shows the type of journal entries that affect fixed assets and how the system assigns entries to the JD Edwards EnterpriseOne Fixed Assets system:
