Asset Postings

All financial transactions relating to assets are posted to the Pinnacle ledger so that Pinnacle can correctly report on the historical depreciation of assets. Postings take place throughout the life of an asset; from the initial acquisition, through periodic depreciation to the eventual disposal of the asset, thus capturing all aspects of an asset's life cycle costs.

Asset postings are summarised in the following table:

Event

Structure 1

Structure 2

Structure 3

Amount

Posting Type

Journal Type

Reason

Asset purchases - single or cloned

Account code part 1

Account code part 2

Account code part 3

Acquisition value of asset

Debit

PADDN

Asset acquisition

 

Purchase clearing account

None ("Default")

None ("Default")

Acquisition value of asset

Credit

PADDN

Asset acquisition

Altering an asset's acquisition value

Account code part 1

Account code part 2

Account code part 3

Difference between old and new acquisition value

Debit

PPRCC

Asset acquisition value altered

 

Purchase clearing account

None ("Default")

None ("Default")

Difference between old and new acquisition value

Credit

PPRCC

Asset acquisition value altered

Altering an asset's asset type

Old asset type's accumulated depreciation account code part 1

Old asset type's accumulated depreciation account code part 2

Old asset type's accumulated depreciation account code part 3

Asset's accumulated depreciation

Debit

PDEPN

Asset type altered

 

Old asset type's depreciation expense account code part 1

Old asset type's depreciation expense account code part 2

Old asset type's depreciation expense account code part 3

Asset accumulated depreciation

Credit

PDEPN

Asset type altered

 

New asset type's depreciation expense account code part 1

New asset type's depreciation expense account code part 2

New asset type's depreciation expense account code part 3

Asset's accumulated depreciation

Debit

PDEPN

Asset type altered

 

New asset type's accumulated depreciation account code part 1

New asset type's accumulated depreciation account code part 2

New asset type's accumulated depreciation account code part 3

Asset's accumulated depreciation

Credit

PDEPN

Asset type altered

Altering an asset's account codes

Old account code part 1

Old account code part 2

Old account code part 3

Acquisition value or last revaluation, plus adjustments

Credit

PADDN

Asset account code altered

 

New account code part 1

New account code part 2

New account code part 3

Acquisition value or last revaluation, plus adjustments

Debit

PADDN

Asset account code altered

Asset financial adjustment - addition

Account code part 1

Account code part 2

Account code part 3

Value of asset addition

Debit

PPRCC

Asset financial adjustment

 

Purchase clearing account

None ("Default")

None ("Default")

Value of asset addition

Credit

PPRCC

Asset financial adjustment

Asset financial adjustment - revaluation

Asset's asset type accumulated depreciation account

Account code part 2

Account code part 3

Asset's accumulated depreciation

Debit

PREVAL

Asset revaluation

 

Account code part 1

Account code part 2

Account code part 3

Value of asset prior to revaluation

Credit

PREVAL

Asset revaluation

 

Account code part 1

Account part 2

Account code part 3

Asset's new written down value

Debit

PREVAL

Asset revaluation

 

Asset's asset type revaluation account

Account code part 2

Account code part 3

Difference between asset's old and new written down values

Credit

PREVAL

Asset revaluation

 

Asset's asset type revaluation expense account

Account code part 2

Account code part 3

Asset's existing accumulated depreciation

Credit

PREVAL

Asset revaluation

Asset finalisation - cancellation

Asset's asset type depreciation expense account

Account code part 2

Account code part 3

Asset's accumulated depreciation

Credit

PDISP

Asset cancellation

 

Asset's asset type accumulated depreciation account

Account code part 2

Account code part 3

Asset's accumulated depreciation

Debit

PDISP

Asset cancellation

 

Purchase clearing account

None ("Default")

None ("Default")

Asset's acquisition value

Debit

PDISP

Asset cancellation

 

Account code part 1

Account code part 2

Account code part 3

Asset's acquisition value

Credit

PDISP

Asset cancellation

 

Asset's asset type revaluation account

Account code part 2

Account code part 3

Amount posted to revaluation account

Credit

PDISP

Asset cancellation

 

Purchase clearing account

None ("Default")

None ("Default")

Amount posted to revaluation account

Debit

PDISP

Asset cancellation

 

Asset's asset type revaluation expense account

Account code part 2

Account code part 3

Amount posted to revaluation expense account

Debit

PDISP

Asset cancellation

 

Asset's asset type depreciation expense account

Account code part 2

Account code part 3

Amount posted to revaluation expense account

Credit

PDISP

Asset cancellation

Asset finalisation - write-off

Asset's asset type accumulated depreciation account

Account code part 2

Account code part 3

Asset's accumulated depreciation

Debit

PDISP

Asset write-off

 

Account code part 1

Account code part 2

Account code part 3

Asset's acquisition value

Credit

PDISP

Asset write-off

 

Asset's asset type write-off account

Account code part 2

Account code part 3

Written down value

Debit

PDISP

Asset write-off

Asset finalisation - disposals and trade-ins

Asset's asset type accumulated depreciation account

Account code part 2

Account code part 3

Asset's accumulated depreciation

Debit

PDISP

Asset disposal;asset trade-in

 

Account code part 1

Account code part 2

Account code part 3

Asset's acquisition value or latest revaluation, plus adjustments

Credit

PDISP

Asset disposal;asset trade-in

 

Asset's asset type disposal account

Account code part 2

Account code part 3

Asset's written down value

Debit

PDISP

Asset disposal;asset trade-in

 

Disposal clearing account

Account code part 2

Account code part 3

Disposal or trade-in value

Debit

PDISP

Asset disposal;asset trade-in

For a loss, the following posting is also made

Asset's asset type loss on disposal account

Account code part 2

Account code part 3

Disposal or trade-in value

Credit

PDISP

Asset disposal;asset trade-in

For a gain, or zero gain, the following posting is also made

Asset's asset type gain on disposal account

Account code part 2

Account code part 3

Disposal or trade-in value

Credit

PDISP

Asset disposal;asset trade-in

Periodic Depreciation

Asset's asset type depreciation expense account

Account code part 2

Account code part 3

Depreciation for period

Debit

PDEPN

Periodic depreciation

 

Asset's asset type accumulated depreciation

Account code part 2

Account code part 3

Depreciation for period

Credit

PDEPN

Periodic depreciation

Turning off an asset's depreciable flag

Account code part 1

Account code part 2

Account code part 3

Sum of existing acquisition postings for this asset

Debit

 

Asset acquisition

 

Purchase clearing account

None ("Default")

None ("Default")

Sum of existing purchase clearing postings for this asset

Credit

 

Asset acquisition

 

Asset's asset type accumulated depreciation account

Account code part 2

Account code part 3

Sum of existing accumulated depreciation postings for this asset

Credit

 

Depreciation

 

Asset's asset type revaluation account code

Account code part 2

Account code part 3

Sum of existing revaluation postings for this asset

Credit

 

Revaluation

 

Asset's asset type revaluation expense account code

Account code part 2

Account code part 3

Sum of existing revaluation expense postings for this asset

Debit

 

Revaluation

 

Asset's asset type disposal account

Account code part 2

Account code part 3

Sum of existing disposal postings for this asset

Debit

 

Asset disposal

 

Asset's asset type gain on disposal account

Account code part 2

Account code part 3

Sum of existing gain on disposal postings for this asset

Credit

 

Asset disposal

 

Asset's asset type loss on disposal account

Account code part 2

Account code part 3

Sum of existing loss on disposal postings for this asset

Credit

 

Asset disposal

 

Asset's asset type write off account

Account code part 2

Account code part 3

Sum of existing write off postings for this asset

Debit

 

Asset disposal

 

Disposal clearing account

Account code part 2

Account code part 3

Sum of existing disposal clearing postings for this asset

Debit

 

Asset disposal

Related Topics:

General Ledger

Ledger Postings Report

Postings