Skip to Content

Transfer of Fixed asset value to CWIP

Hi,

By mistake the Accountant booked the values to the Fixed asset. This was contiued since last three years. Right now want to transfer the values to CWIP. Suggest me how to solve this one.

MPR

Add a comment
10|10000 characters needed characters exceeded

Assigned Tags

Related questions

3 Answers

  • Best Answer
    author's profile photo Former Member
    Former Member
    Posted on Jan 27, 2010 at 08:12 AM

    I don't think it's possible to transfer a capitalized asset back to CWIP (I assume this means AUC?)

    One suggestion is to post a retirement to the asset, and create an acquisition under AUC using the same values.

    Add a comment
    10|10000 characters needed characters exceeded

  • Posted on Jan 27, 2010 at 08:04 AM

    MPR,

    You cannot post Final asset back to AUC class. The best option would be to retire the existing asset and create new asset under AUC Class.

    OR try this thread.

    Rgds

    Zub

    Add a comment
    10|10000 characters needed characters exceeded

  • Posted on Jan 27, 2010 at 09:46 AM

    Please reply

    Add a comment
    10|10000 characters needed characters exceeded

Before answering

You should only submit an answer when you are proposing a solution to the poster's problem. If you want the poster to clarify the question or provide more information, please leave a comment instead, requesting additional details. When answering, please include specifics, such as step-by-step instructions, context for the solution, and links to useful resources. Also, please make sure that you answer complies with our Rules of Engagement.
You must be Logged in to submit an answer.

Up to 10 attachments (including images) can be used with a maximum of 1.0 MB each and 10.5 MB total.