We have already posted the Asset Addition and Depreciation transactions.
Is there a way to reverse or correct these transactions within the Asset Management module?
Reversal not possible, whereas, for asset addition reversal… suggest to do asset added value equivalent disposal. Depreciation will remain challenge.
KR
Thank you, Rakesh.
Basically, this was an opening balance upload in Asset Management, and only a few assets need to be reversed.
If I do an asset disposal, it would impact the GL, which I want to avoid.
I want to show that these assets were revised in the asset register without affecting the general ledger.
You should do partial disposal not full, hence it will be reversal of addition part. For GL part do the reversal jv.
what about asset revaluation? does it make sense? I understand revaluation is to revalue the asset so they have the correct value in asset report, trackers and financial statement.
Yes, that’s also an option. See if you gets the transaction shown separately in asset register.