Page Comparison

Fixed Assets/Capital Assets

Functionality changes were made in versions: 

Asset was entered by

mistake or has incorrect info that cannot be removed

In new versions:

1.  In the Adjustments and Retirements click Transactions and choose Reverse Asset Activations
   1. When selected, any Active or CIP Posted assets will be displayed in the browse screen. Retired, Disposed Assets with Pending Transactions and Assets with any non-reversed transaction history will not be selected.
2. Click Update and select the Asset(s) you would like to reverse
3. Click Accept 
4. Click Output/Post
5. Click Yes to post the transactions 

In versions prior to the functionality changeIf the only transaction on the asset is the activation:

1. Process a Reverse Asset Activations transaction:  How to process an asset Activation Reversal
2. In New Assets, pull up the asset and click Delete

If additional transactions have already been posted to the asset and an activation reversal is not possible: 

1. Use the Depreciation Reversal program to reverse any depreciation that has already been taken  Retire the asset in a Retirement/Disposal Transaction from the Adjustments and Retirements Program
   If the asset depreciation flag is set to Y before retiring the asset the depreciation flag will need to be changed to N in an Adjustment Transactiontaken.  Refer to How to reverse depreciation for Depreciation Reversal instructions.
2. If an adjustment/improvement transaction was done process an Adjust Asset Values transaction reversing what was done 
3. If the depreciation checkbox is enabled on the asset, process an Adjust Asset Values transaction to disable it
4. In Adjustments and Retirements, process a Retire Assets or Dispose Assets transaction