New Asset created but not showing on Balance Sheet

Kinetic ERP
1

Hi Everyone,

I have created a new account segment value and General ledger account for a new fixed asset topic (Motor Vehicles). When i run the General ledger i can see the transactions but the asset is not showing in the fixed assets.

Has anyone come across this issue before?

Thanks
Stephen

2

Because you see the asset I assume the asset has been created (and linked with a dynamic segment so you see it in GL). After you create the asset you need to add a component to it (the asset is just the umbrella for components), post the addition (with proper GL control codes and accounts) and then you will also have your asset.

1 Like
3

Hi Mihai,

Thanks for looking into my question.
Yes i have created the account segment value in Epicor aswell as the GL account. I can see the transactions posted to the general ledger, it is only when i try and view the balance sheet report in financial reports that the asset does not show in the assets on the balance sheet. It could be something to do with the way the balance sheet was created for us using crystal reports as we can see the transactions in the GL.

A strange one, but as we are using transitioning from Epicor 10 to Kinetic i wasnt sure why the asset would not show in the balance sheet.

Cheers
Stephen

4

If this is not in the balance sheet it might be the way the custom financial report is built. Do this :

  1. check the transaction is in the chart tracker for the asset account;
  2. if 1 is true, you should be able to see it in the trial balance too (out of the box report)
  3. if 1 and 2 are true, you have a proper transaction and the balance sheet report is ignoring this account. Most of the time this is because the balance sheet financial report makes summaries based on account categories. Does your new defined account have a proper category which is also included in the financial report ? If not, either add the new category to the balance sheet or change the account category to the same category for one account which shows in the balance sheet. Most of the time one creates a new category (asset) but that category is not part of the existing reports so that account is not shown.
  4. have a look at the balance sheet report definition - maybe the sections are not defined by “make a sum of accounts in category x” but rather “make a sum of accounts from … to account …”. If your new account is not in that interval, it will not be shown.

Try that, maybe you are lucky and this was the problem.