Hi
I wrongly capitalized one asset of Rs.12000 (Doc date, posting date and asset value date: 15th July 2010). Depreciation is also posted till December 2010
Now as per auditors, the same should be expensed out in repairs account. WDV as on today is Rs.7350.
Now i need to reverse the entire transaction (including depreciation, accumlated depreciation). Vendor is paid in july itself.
FY is from April 2010 to March 2011. I tried with ABNAN. But its telling that the date is not in closed period.
Please help how can i rectify.