Reverse an asset

For more information: Fixed assets (FA303000).

1. Go to the Fixed assets (FA303000) window.

2. In the Asset ID field of the top part, select the asset you need to reverse. You can reverse an asset with the Active status only.

3. Click Reverse. The asset is reversed; reversal transactions are generated for all released transactions associated with this fixed asset and posted to the same book as the original transactions.

   Note

   In the posting book, if the financial period of the original fixed asset transactions is already closed, the reversal transactions will be posted to the nearest open financial period.

4. Release the resulting transactions as dictated by your company workflow. Release multiple fixed asset transactions

   For more information, see:

Related pages

Concepts

• About changes in fixed asset estimates
• About fixed asset entry
• About fixed asset reversal
• About fixed asset types
• About fixed asset adjustment transactions

Tasks

• Change net book value of an asset
• Change the salvage value of an asset
• Change the useful life of an asset
• Convert purchased items to components of a fixed asset
• Delete a fixed asset
• Delete an unreleased fixed asset transaction
• Dispose of an asset
• Enter an asset
• Import fixed assets
• Release a fixed asset transaction
• Reverse an asset disposal
• Suspend asset depreciation
• Transfer an individual asset

Windows

• Fixed assets (FA303000)