Incorrect Value in Under construction Asset

[former_member260961]

Hi

We have the next problem... We have one asset ( UNDER CONSTRUCTION ) this asset was capitalizated and the new asset ( production ) was sold. The problem is one user open the WBS and included another incorrect aditional value ( this value is expense) . We need adjustment this value from under construction account to expenses account.  This asset was retirement ..

Please your help

[Former Member]

HI DURMAN CONSULTOR CR,

Normal casess, we have to book cost to WBS & the same cost settle to the Specific AUC Asset.  After the complenetion of the WBS, then we ll do the final Settlement then the Amount goes from the AUC Asset to Final Asset.

Here in your case you have done the final settlement & the means the Cost Flow to the Final Asset.

The same Asset has been sold.  Now you should not allow you post the cost to the Same WBS.  You shold close the WBS after Captilisation of the Asset.

The resoluaton for this is you have to reverse the entire transaction up to Settlement & then do the Final Settlement once again.  This is some what tidious task.

Or Else create a Sub Asset & the sattlement same as the above asset.

Regards

[Former Member]

When you settle your Asset under construction, you can specify the settlement receiver to be a cost center, this will charge the value on AUC to expense account maintained in AO90.

Thanks,

Avinash

[former_member260961]

Hi Avinash by your response , but we reverse the process of this aditional charges.