Hi,
I did a Calculate Depreciation on a Fixed asset many years ahead so the amount became 0. So then I Reversed the transaction and now when i run the Calculate Depreciation again it wont work. Nothing happens, and nothing wrong with the dates I enter.
How do I fix this so I can run Calculate Depreciation on the Fixed Assest
Hi Agian,
Please does anyone Know this one?
Hi Anna,
on the Fixed Assets there is another option called “Cancel”. Have you try to cancel the entries instead of reversing them?
Regards,
Ana
Anna,
“Reversing” does NOT clear entries in FA Depr. Books, if you check them for FA in question you’ll still find them there, leaving the FA fully depreciated. Most likely you now have GL and FA ledgers out of sync, as you have reversed entries in GL, but not in FA Ledger.
As Belen suggested, you should use Function “Cancel” in FA Ledger entries. This will populate FA GL Journal for you to post, but, when posted, it will affect BOTH GL and FA ledgers, canceling (reversing) entries in GL for the second time.
As “UnReverse” is not possible, you should balance out manually thru General Journal the entries in GL you earlier created by “Reversing”.
Anyway, check what entries and where (GL, FA Ledger) are in fact present in your system before blindly following the scenario I described - in general it is correct to the extent as I understood your actions from your post, but not seeing your system I can’t be 100% sure…