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Freeze assets - Question

Hello Asset Accounting gurus,

I have been confronted with a particular situation by our Accounting team.They created 9 assets in July 2015 through settlement of multiple AUCs. Depreciation start dates for these assets was July 2015. All these assets were associated with installation of a machine used for manufacturing, and unfortunately the product coming out of this machine was determined not to be of required quality recently. So now they want to work on recalibrating this machine to make it work right and this could take a few months. So the Accounting head wants to reverse all depreciation that happened on these 9 assets related to this machine for the past 2 months, since we are now in September . After that, reverse the 'settlement of AUCs into those assets', so that we get back the AUCs. Then they would like to re-use these AUCs to post more invoices for the continued work on the machine. When the machine is ready once again in a few months time, they would like to settle these AUCs back to those assets and start depreciation again. All this sounds impractical to me, but I have to admit I am not an expert in this area, so would like to hear your opinions on how best to tackle this scenario.

Hoping to hear from you ASAP,

Thanks and regards,

Wayfarer

replied

Hi Wayfarer,

You have to change the dep.key in the asset itself by AS02. However, when you run the depreciation for Sep month, the depreciation already posted will get reversed.

Regards,

Mukthar

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