Negative Asset Acquisition

[Former Member]

Hi,

I want to correct an asset which was created in a wrong asset class. This asset class has not been set up for retirement. Depreciation has been run for two months already.

So now i want to correct this asset.

Can you please suggest a way.

I was thinking maybe i can reverse the amortization booked uptill now and then do a negative acquisition and then block the asset.

Please suggest.

Thanks,

MS

[Former Member]

Steps-

1)Reverse the depreciation.

2)Choose a Cost Element book negative costs in that cost element.

3)Create an internal order and define the settlement rule.

4)Transfer the negative cost to the IO.

5)Settle the IO to the asset.

6)Rerun the depreciation as done before.

Sudeep

[Former Member]

Hi,

These are not fixed assets i am using. We are just using the asset functionality for monthly amortization for some of our prepaid stuff. So there is no IO involved.

But in general if you have some documentation on the whole process related to IO and assets.

Thanks,

Maulik Shah