Adjust a Building, Fixed, Land, or Leased Asset Subsidiary

These steps explain how to make an adjusting entry on the subsidiary ledger for a building, fixed, land, or leased subsidiary.

• Any adjustment made to a subsidiary record should balanced back to G/L’s.

1. Launch Tool #1772 Work/View Subsidiaries.

2. Highlight the asset to be adjusted and select Adjust.

3. Enter the Transaction post date and Transaction description.

4. Enter a Debit/Credit amount to be adjusted for the desired G/Ls.

   • Each entry must have a Debit & offsetting Credit to balance.

   • A Debit to the Asset G/L will increase the Invoice/Total cost (Asset) & Net book value, which would mean you need to expense more in the future. This adjustment will NOT recalculate your subsidiary monthly expense.

   • A Credit to the Asset G/L will decrease the Invoice/Total cost (Asset) & Net book value, which would mean you will expense less in the future. This adjustment will NOT recalculate your subsidiary monthly expense.

5. Click Create J/E if an entry needs to be made to CU*BASE General Ledger. Click Skip J/E if an entry needs to be made ONLY to the subsidiary record.

   • In most cases, the entry is a debit or credit to the Asset G/L and offset to a Miscellaneous GL. Since it isn’t posting to the CU*BASE General Leger, you are only trying to adjust the Asset & Net book value for the change. Changes to Asset & Net book value could include adjustments for:

     1. Credit memo for original invoice/total cost.

     2. Additional expense for original invoice/total cost.

     3. Wrong amount invoiced and entered for original invoice/total cost.

     4. Adjustments for manual depreciation.

6. You will be brought back to the main screen in Tool #1772 Work/View Subsidiaries. Highlight the asset you just adjusted.

7. Select Edit.

8. Check the box next to Recalculate. This will recalculate the subsidiary record for the adjustment just performed.

9. Use enter to accept the recalculation. This will change your monthly expense based on the new Invoice/Total cost & Net book value from the adjustment.

10. You may change the number in the Month remaining field if you would like to adjust the term length based on your newly adjusted Invoice/Total cost and Net book value.

    • Check the box next to Recalculate to change your monthly expense, accounting for the new Month remaining number entered.

    • Use enter to accept the recalculation.

11. Click Add/Update. In the confirm popup, click Add/Update again.

Post the J/E (if created)

1. Launch Tool #61 Create/Post GL Journal Entries.

2. Highlight the J/E just created.

   • The J/E should have an ID of “FA/BA/LA/LI” and the effective date you entered in the Transaction post date field previously.

3. Select Post.

4. Verify the correct J/E was selected and click Post again to confirm.

Learn More

Learn more about adjusting subsidiaries.

View steps to add building, fixed, land, or leased asset subsidiaries.

View steps to close building, fixed, land, or leased asset subsidiaries.