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[Brandy Strickland-Downs]

?We have some land for sale and its market value is significantly different than the value both the GL value and the FA value.

Our auditors want us to write the value of the asset down to the market value.  I have done this in the general ledger, but I need to figure out how to adjust the value of the asset down in the FA module so that the FA module can tie out to the GL.

We are currently not set up with process/post.

Can anyone explain how I reduce the value of this asset in the FA module?

Thanks,

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Brandy Strickland-Downs
Sr Accountant
Lutheran Services Carolinas
Salisbury NC
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[Audrey Forrest]

Hi Brandy, 

Did you try adjusting the Cost Basis in the Asset Book? Changing this number will trigger a FACHG transaction in the GL. If you edit the cost basis, you will see the Distributions button appear at the bottom of the screen and you can adjust the clearing account that you need to offset. I would suggest letting this transaction post, and reversing your topside entry to the GL, so you can trace the entry to the subledger.

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Audrey Forrest
Chihuly, Inc.
Seattle WA
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