We are facing a problem with Intercompany Asset Transfer, T-Code: ABT1N, one of our user has posted Asset Transfer wrogly, actually they suppose to post by using Net method but the entry has posted in Gross method.
The entry in posted like .....
Ex: Asset Value 20000
Accumulated Dep: 5000
Accumulated Dep A/c -
Revenue clearing A/c----
To Asset A/c -
*Receiving Company Entry*
Asset Aqui Clearing-------15000
From Above the entry the sending company entry is correct but for receiving company the entry should be in net method, i mean the asset should be debited with 15000 ( instead of 20000)
*The correct entry in receiving company should be :*
Asset A/c -
Asset Clearing A/c----
the problem is this entry posted in the month of Dec and they already calculated dep for dec and jan also.
now user want to adjust this entry, i mean they don't want to see any line item in accumulated depreciation account. they wanted to post JV by debit ing to Accumulated Dep a/c (5000) and crediting to Asset A/c .
My question is, ...... is it right way to post JV, or if there is any other way please help me tp solve this problem.