Posting journals from Assets

This support note applies to:

AO Assets Live (AU)
AE Assets Live (AU)

Article ID: 37795

In the Client Accounting - Assets tab you can post the resulting depreciation values to the underlying General Ledger.

There are a number of settings and pre-requisites you need to ensure are in place to enable the posting of the transactions. The following is information on the setup procedure and the integration process.

To successfully post depreciation journals to the underlying ledger you need to:

1. Establish register settings for integration

Click the Assets tab and click Register settings. The Register Settings window opens.
Select the required options under the headings Depreciation calculation for and General Ledger settings and click OK. The integration options are selected.

For further information regarding the fields on this window, please refer to the following Online Help topics:

Suite	URL
Accountants Enterprise	Editing asset register settings
Accountants Office	Editing asset register settings

If you select Depreciation calculation for Accounting & Taxation, you need to enter integration accounts on the control group for both Accounting & Taxation.

2. Establish control group settings

Click Maintain control group.
Enter or select from the pick list, the accounts for each of the Integrated accounts fields for the Taxation tab.
If the Assets Register is set to Calculate depreciation for Accounting & Taxation click the Accounting tab and enter or select from the pick list, the accounts for each of the Integrated accounts fields.
Click Save. The control group integration accounts are established and the mapping indicator in the right-hand column shows as a tick.
Repeat steps 2 to 4 for each Control Group.

Once you have finished establishing your control group settings for each control group, to exit the Maintain Control Group window:

Click Close. The message "Do you want to save changes?" appears.
Click Yes. The Assets tab appears.

For further information regarding the fields on this window can be found under Integrated account fields on the following Online Help topics:

Suite	Taxation tab fields	Accounting tab fields
Accountants Enterprise	Maintain Control Group Window - Taxation tab fields	Maintain Control Group Window - Accounting tab fields
Accountants Office	Maintain Control Group Window - Taxation tab fields	Maintain Control Group Window - Accounting tab fields

3. Submit journals for posting

Open the Asset Year and click Submit journals. The depreciation journals are posted to the General Ledger.

If the Submit journals option in the Tasks panel is not available:

Ensure integration accounts have been established for both Accounting and Taxation on all the Control Groups in the case where the Assets Register is set to Calculate depreciation for Accounting & Taxation; and
Ensure the Start date and End date on the Asset Year match the From and To dates on the Workpaper or Trial Balance tab.