It's much more fun, when you can discuss your problems with others...
You are not logged in. Please login or register.
FrontAccounting forum → Posts by mugao-em
Printing this report for a past date, (e.g 31st Dec 2019) does not give the correct accumulated depreciation. Instead the accumulated depreciation will be as of current date.
I realized FA Assets module does not store anywhere Fixed Asset depreciation transactions, instead values are updated into material_cost column in the stock_master table. This makes it difficult to print any backddated report as per any date.
Please advise how to go about this.
Take this scenario.
A Spare is purchased into Store A at 100 and into Store B at 105.
This results in a different average cost of the same spare in two stores.
Amputhu's work around of having two different IDs can work, but there will be a challenge when the item is transfered from Store A to B.
Mugao.
Dear apmuthu,
This is noted. what are the plans to include this feature?
Mugao.
Hello,
Does FA handle costing of the same item in multiple locations differently? I have been looking into the issue in 2.4.8 and it seems the system either uses the last/latest standard cost in stock_moves or the standard_cost in stock_master. while this is okay for 1 location, its a problem in cases where items are stored in several locations.
Please guide further on this.
Regards,
Mugao.
Hello,
I've gone through this post in Dev forum, am not sure if its too late to suggest a modification to stock_move table.
There should be a costed_date column, to show the actual date/sysdate and time the transaction was done, which is a different value from the transaction_date column (mostly because of backdated transactions)
sorting transactions by this column will help anyone to know the exact movement of average cost.
Thanks for the good work you're doing.
Regards.
Mugao.
Thank you,
I will get back with the results
Hello FA team,
I am looking for a developer to customize fixed assets in order to depreciate all the assets with one click. currently the user has to depreciate one asset at a time.
Reach me on gmail using mwitimugao@gmail.com.
Dear @amputhu:
On the same note, will the function "stock_depreciable_fa_list_cells" need to be changed as well?
Hey poncho1234,
This has worked. Thank you for your good explanation.
Kind regards,
Mugao.
Thank you Amputhu,
Much appreciated.
Regards, Mugao.
I did that, I even tried it from a machine which has never logged into FA.
Regards,
Mugao
How is that a solution seriously?
Dear Amputhu,
Hope you are well, has this issue been worked on. Its very tedious depreciating many assets one by one?
Thanks,
Mugao
Hello,
When a user is assigned any role other than system administrator, and full Fixed Asset rights given, they can't Add New Assets.
Please correct this.
Kind Regards,
Mugao
@Joe,
Thank you so much for the fast response.
I have tested the fix and it is working perfectly.
Thank you once more.
Kind regards.
Mugao.
@joe;
any update on this?
Regards,
Mugao.
Thank you for the update guys;
The entry has gone to Debit side of the gain/loss account which means its a loss. I was expecting a gain because as you can see, the revaluation rate is higher than the transaction rate and this is a Bank. See the journal entry below.
Journal Date Account Code Account Name Dimension Debit Credit Memo
12/31/2017 1060.100 National Bank of Kenya (USD) A/C No 020420 988.07 Exchange Variance
12/31/2017 5810.100 Realized Foreign Exchange Loss 988.07 Exchange Variance
Thank you in advance.
Hello,
I am using FA2.4.4, and we have disabled Automatic Revaluation of accounts. End of the month, we process revaluation manually using the link "Revaluation of Currency Accounts"
I have an issue where the revaluation amount is being posted to the wrong side. e.g. Credit instead of Debit; etc.
Let me explain using an example:
Our functional currency is KES. I have a bank account with the currency of USD.
I have posted 1 transaction to this account using of 968.70 at the exchange rate of 1 USD = 102.21 KES. So in GL its converted to the equivalent of 99010.83 KES.
The rate at the end of the month is 1 USD=103.23 KES. We ran revaluation. I am expecting an exchange gain of 988.07 posted as below:
Dr Bank 988.07
Cr. Exchange Gain/Loss Account with 988.07
The system has posted as if its an exchange loss:
Dr. Exchange Gain/Loss Account with 988.07
Cr Bank 988.07
Kindly assist if there's something I need to change as this is throwing my bank balances off.
Regards
Mugao.
Is there a feature in front accounting to setup assessible value for each product, and then use this assessible value in VAT calculation instead of item selling price?
Regards,
Mugao
Hi, I am still learning the ropes but i can give my 2 cents.
1. Depreciation rate is annual, irrespective of wheather you select to depreciate Yearly or Monthly. In your case, the rate is 50% (2 years)
2. Depreciation starts 1 period after the "Depreciation Starts" Date. so for me, I always put the last date of the period before when i want the asset to start depreciating. e.g if i want depreciation to start in January 2018, i put "Depreciation Starts"=31-Dec-2017
Hello,
We' really appreciate the current features on this FA module.
I'd like to suggest a feature to allow for asset improvements after they've been purchased.
For example; A machine or plant equipment can have major part replacements which a company does not want to expense in one period, but rather capitalize it as part of the asset and amortize it in the remaining life of the asset.
After processing depreciation for 1 period, the last depreciation date is updated to 31/12/2018, hence we cannot run depreciation for any other period in the year for that asset.
System and General GL Setup: Depereciation Period=Monthly
Starting from month: January 2018
Period: 1 Month
Depreciation is calculated correctly for one month, but the depreciation_date field in stock_master table is updated to 31/12/2018.
Tested in 2.4.3, 2.4.4, and FA-master_244+
Regards, Mugao.
Thank you for the feedback, on my part i think FA should not compensate for it by creating journals, because these journals will cause a variance between Subledger and GL, and they cannot be explained to auditors.
Regards,
Mugao.
What other circumstances would this journal be created? I have never ticked the "Allow Negative Inventory", and so far I have two Journals. How do i find out how the journal amounts were calculated?
This is in version 2.4.3
Regards,
Mugao
Dear Apmuthu,
Thank you for your quick response.
I have tested using that installation, the issue is fixed, thanks.
FrontAccounting forum → Posts by mugao-em
Powered by PunBB, supported by Informer Technologies, Inc.
Currently installed 4 official extensions. Copyright © 2003–2009 PunBB.