Change the effective date on a Capital Asset transaction

• Can you change the effective date on a Capital Asset transaction? 

• Can a transaction that was posted to the wrong period be reversed?

Capital Assets 

Informational

• For activation transactions, refer to Asset activation was posted with an incorrect effective date

• For all other transaction types there is no functionality to change the effective date once the transaction has been posted.  Instead:

  1. Process an offsetting transaction using the incorrect effective date to essentially reverse the transaction.  Using the same incorrect effective date that was used for the original transaction ensures the amount will go in and out of the GL on the same day.

  2. Re-process the original transaction using the correct effective date

If other transactions were processed after the transaction with the incorrect date, each transaction starting with the most recent one will need to be reversed until the incorrect one has also been reversed.  Then each transaction will need to be reprocessed again.