When I try to post fixed asset journal for transaction type 'disposal-sale', I am getting error as "disposal parameters post value net book value does not exist".
But, in Fixed asset Posting profile, all required ledger accounts and offset accounts for value model and fixed asset group has been already defined for disposal-sale and also under disposal-sale button for posting value (net book value, acquisition value, depreciation (prior year), depreciation (this year).
And also, ensured that the default posting profile for fixed asset is specified under GL-> Parameters->Fixed asset tab.
What would be the cause for this error ?. I need help to fix this issue...
Are you selling the asset to a customer?
If this is the case, i will suggest you to use Free text invoice as you will be able to select customer there.
Try to sell the asset using that.
In reply to Pranav Kumar:
Thanks for your reply.
No we are not selling this asset to customer, but to one of our internal employee which will be treated as employee loans and advance. And it will be deducted on monthly basis from his salary account.
In reply to Khalid:
you need to setup parameters in GL-> Setup ->Fixed Asset ->Posting Profiles ->Disposal -Sales to do this
In reply to Amith Prasanna:
Under Fixed Asset setup> posting profile> Disposal (sale or scrap) button> Create new lines> Choose a value model> Choose the post value: NET BOOK VALUE
In reply to Heylin:
if we consider following scenario
There is company owned Mobile Phone worth Rs.56000 Service Life is 4 Years , we using Straight Line Depreciation after 2 years , we deiced sell it to an internal employee.
in this case mobile phone net book value is "0" .
then how to do this ?