on 05-30-2011 9:24 AM
In our case, a particular amount was posted into an asset and it was capitalized in April 2010 (last fiscal year). Now it is found that the amount posted was more and it was wrong. Now we want to partially reverse an amount of 70,990 from that item. How can we do that ?
Similarly, from that period, depreciation was also posted for the wrong additional amount also. How can we reverse that excess depreciation ?
Hi Niki
1. Do a write up 1st of all from ABZU and reverse the excess depreciation related to 70990 amount
This will bring back the 70990 on the asset...
2. Now do an ABSO posting using Tr Type 101 for Amount 70990... Use an expense account as an Off Setting acct in ABSO so that the expense would get debited which was wrongly capitalized
br, Ajay M
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Hi Nikki
Assume you were supposed to post 100,000; BUT you posted 170990 (70990 excess)
Say, rate of dep is 10%... It means you were supposed to post 10,000 as dep for 1 yr, but you posted 17099 i.e. 10% extra on 70990
Thats why I asked you post a write up 1st for 7099 so that the excess dep is written off
Then do ABSO for 70990 amount as mentioned in my earlier reply
br, Ajay M
Hi Nikitha,
You can post Credit Memo as fallows:
ABGL - ... in Invoice Year
ABGF - ... in Next Year
Once we post credit memo if you run Depreciation in repeat run it will adjust in Asset balences.
Test the same in any sandbox then proceed.
Thanks,
Anil
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Hi,
Post a credit note, In next depreciation run, system will do depreciation adjustment.
I propose create a scenario in test and then go head with production run.
regards,
prashant
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