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Asset Management with 2 books??

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maluhia1979
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Posts: 5
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10/20/2014 3:48 PM
    My company is trying to create 2 separate books for our asset management. I created a second book as non-posting. This book needs to always contain the historical book value (i.e. can never be impaired over the life of the asset).

    The original book should have all regular functionality.

    The hope was that we could create one asset template that will post a newly created asset to both books, but as adjustments are made over the life of the asset, only the posting book would be updated. This way we would not have to individually create an asset for each book each time.

    Is this even possible??

    In Lawson test, I created such a template and was able to add an asset to both books with one template. However, when I went to impair the asset, it said that the non-posting book was not defined for that asset. I tried deleting the automatic journal entry to the non-posting book, but that didn't work. It wouldn't let me release. :blink:

    Any suggestions??
    jjcyeshua
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    Posts: 49
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    10/20/2014 8:09 PM
      Can I ask what is the primary purpose of having another book other than maintaining a list of assets with their original cost basis... Also when making an adjustment, make sure that you use the right book to process it..
      maluhia1979
      Basic Member
      Posts: 5
      Basic Member
      10/21/2014 1:48 PM
        Medicare reporting requirements vs. GAAP requirements. Medicare won't allow asset impairment.

        My issue with having one template to create an asset on both books is that when I try to adjust the asset later, I have to put a basis in for both books. If I try to delete the auto-generated non-posting book, then I get an error message that the non-posting book is not defined for the asset. My current workaround is manually entering the original basis in that book and letting Lawson calculate the new basis on the posting book. This works well for test where I only have a few line items on each asset, but in practice some of our assets have up to 35 or more line items. This creates a lot of room for error if the originally book basis has to be calculated and manually entered in the non-posting book.
        jjcyeshua
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        10/21/2014 4:11 PM
          Have you defined the AM01.1 - non Posting for the Non-Posting book?
          maluhia1979
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          Posts: 5
          Basic Member
          10/21/2014 6:57 PM
            yes
            jjcyeshua
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            Posts: 49
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            10/21/2014 10:52 PM
              Where are you trying to make an adjustment? AM20.4?
              maluhia1979
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              Posts: 5
              Basic Member
              10/22/2014 11:52 AM
                AM20.3
                Then AM20.4 shows the basis of both books. Both books autopopulate with the same adjusted value based on the line items in AM20.3. However, I am having to change the non-posting book manually to the original, non-impaired book basis. I took screen images, but the website is prompting me for login credentials to post, and my lawsonguru login credentials aren't working for that purpose.
                jjcyeshua
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                Posts: 49
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                10/22/2014 7:48 PM
                  Can you tell me what are the things you are adjust on AM20.3? Have you thought of using MS Addins to update AM20.4 or AM20.3? - Also sent you Private Message