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Asset Retirement & Depreciation Reversal

Hi All,

Please guide how to reverse the depreciation posted and after that the asset needs to be retire. Ex - An asset purchased in 2010 which needs to be retire now in back date (2 months back) but before that we need to reverse the depreciation posted for two months. Please guide if it is possible.

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3 Answers

  • Posted on Feb 07, 2012 at 06:19 AM

    Hi:

    Depreciation once posted can not be reversed. You will need to retire asset at current NBV.

    Regards

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  • author's profile photo Former Member
    Former Member
    Posted on Feb 09, 2012 at 12:15 PM

    dear

    change key to 0000 and run AFAB which will reverse the depreciation posted. now change the dep key to original key and run dep for 6th month which will restore dep for 6 months in repeat mode.

    regards

    rohit

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  • Posted on Feb 09, 2012 at 02:04 PM

    Once dep posted, you cannot reverse it.

    While retiring your asset, you use ASSET VALUE DATE as you said like 2 months back date, then system will retire this asset with the NBV as of 2 months back date only. Means it wont consider the DEP AMOUNT, which is the calculated DEP for the last 2 months.

    Thats it...Your requirement will be achived.

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