Error when retiring fixed asset

[Former Member]

When retiring fixed asset using gross method I get error message 21112 -asset sale revenue account does not exists-. When using Net method for a fully depreciated asset, I get error message 21104 -asset is inactive- yet on the master data the item is active. Please help

[former_member186095 · Accepted solution]

Is this issue ever happened before ? I mean if you have ever retired the asset and there was no problem.

1. The error message seems confirming that there is no sales revenue for asset sales net account in the FA GL acc. determination and I am sure you probably have checked it.

2. if the system said that the asset is inactive, it could not be true. I suggest to check the fiscal year, the asset class on hold or inactive field is checked or not in the item master data. As you can see that after the creation of asset class, the item master data for the asset class is also created.

JimM

[Former Member · Accepted solution]

This is the first time I'm retiring an asset using the fixed asset add on in SAP B1. Thanks to your suggestions I seem to have sorted out the error messages but I'm still unable to move.When I add a retirement document under the scrapping option, the asset account and the accumulated depreciation accounts are credited and debited with NBV amounts respectively for an asset that is not fully depreciated. For a fully depreciated asset, no journal entry is created when retirement document is added for both gross and net methods. How can I remove the historical cost and accumulated depreciation of an assets from the respective gl when I do a retirement?

[Former Member · Accepted solution]

Check carefully the settings you have for the depreciation area you are using (direct / indirect and gross or net). This may have a bearing on the way the retirement entries are posted as the direct method does not use an accumulaued depreciation account to post, but posts directly to the asset account.

[Former Member]

Hi Macha,

Did your problem solve ?

Regrds,

John

[Former Member]

I've realized that some of the assets I was trying to retire had been imported with zero value and therefore no transaction journal was posted when the retirement document is added.

[too_muihwee]

Hi Simon,

Can tell me how you resolve this issue? Create the zero value acquisition so that you can perform the retirement?