Asset Sale in Prior Periods

[Former Member]

Dear Seniors,

My client wants to sell / scap an asset in period 1 (January). We have run the depreciation till period 9 (Sept). Fiscal year variant is K4 (Jan - Dec). Version is 4.7.

Can we do this?

Can anyone explain smoothing with an example plz?

Regards

[Former Member]

As per the business process this is wrong. You must reverse the depreciation posted on the asset and then sell/ scrap. You can find the depreciaiton documents through AFBP.

Moreover asset scrapping with back dated if dep. is posted is not possible to retire the asset in full, you can do only a partial retirement.

[Former Member]

Hi Kumar,

I tried you scenario. I have posted depreciation till the current period and attempted to scrap the asset during one of the prior periods. The document got simulated. I did not post it intentionally.

Thanks,

p.k