Writing off Assets in March with incorrect depr.

Edward_Bloomfield

Hi!

I have the following situation and was wondering if anyone had encountered it before, and if so if they had found a way round it?

Some Fixed Assets that were incorrectly depreciated for April, so the entries were reversed. The assets now need to be written off as of March, but NAV will not allow it due to the April postings.

Does anyone know of a way round this?

Many thanks in advance

SD-JR

Hi Edward,

You can modify the FA posting date (not POSTING DATE) for this asset in table 5601 to a date earlier than the disposal which will allow the disposal post.

If the FA G/L has been reversed in April then their are no financial/accounting implications so it's safe to do this.

Edward_Bloomfield

Thanks for this - I did find an alternative solution though:

In the Fixed Asset module there is the function to cancel Fixed Asset Ledger Entries. The user had tried to correct their initial error by posting a contra-entry, but in fact the way forward was to use the cancel function on the entry.

Once they cancelled both the original incorrect transaction and their contra journal, they were able to write off the Asset.

Many thanks
Edward