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Former Member
Sep 20, 2007 at 07:30 AM

Asset Migration from legacy system to new system



I have a problem on how to report an asset retirement in the old system. The user retired the asset in June and the depreciation is suppose to end in Dec of this year but they post the depreciation and expense to the depreciation expense GL account in the old system. Currently they are using the asset module in the new system but the retired asset is no longer consider as an asset. Where should I post this retired amount? into loss on sale in new system?