Removing an Active Asset

• How do I remove an Active Asset that was incorrectly created? 
• How to delete an asset? 

Fixed Assets/Capital Assets

Functionality changes were made in versions: 

• 11.3.21.0 and above
• 2017.1.19.0 and above
• 2018.1.25.0 and above
• 2018.3.12.0 and above
• 2019.1.14.0 and above 
• 2019.3.8.0 and above 

• Asset activated in wrong year/period
• Asset was entered by mistake 

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 change: 

1. Use the Depreciation Reversal program to reverse any depreciation that has already been taken 
2.  Retire the asset in a Retirement/Disposal Transaction from the Adjustments and Retirements Program
   
   1. 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 Transaction

The Activation Reversal transaction has been added to the Fixed Asset/Capital Asset Transaction Entry Post program. When selected, the Activation browse screen will appear where the end-user can select which Activations to reverse.