Hi everyone, Does anyone know how to undo the disposal of fixed assets? The problem is this: I want to make some changes in my fixed assets list, to rearrange different kind of values in my BOOK VALUE 1 list. However, the asset I want to rearrange the values, has been disposed in 2007. Therefore I cannot make any changes regarding this fixed asset in 2006, because the asset has been disposed of in 2007. Can anyone help me out??
In the FA module, you will be able to cancel fa transactions. (You can see this funciton in FA ledger entries) By doing so, Navision will create reversal journals and place them in the FA G/L journal. By posting this, it will reverse the transacitons that you wanted to reverse. The cancel fa transacitons work for disposals too.
Canceling FA disposals is a little bit tricky - there are several lines created on disposal in FA Ledger, but you need to select only the one with
FA Posting Type = Proceeds on Disposal
and then use Functions/Cancel entries. When posting this one line from FA G/L journal, all entries that apply to disposal will be reversed…
I was trying to cancel the disposal by doing based on the way you have mentioned and the line has been created in the FA G/L Journal. But i need to enter the balancing account before doing the posting.
So, I’m confused what should be the account I entered as we did not use any balancing account while posting on the disposal.
You do not need to enter Bal.Account in the FA(-GL) Journal line, created by Cancel Entries…
This is the same, as when disposing a FA, BalAccount is left blank, as there is not a single account, but many postings needed. Navision will take care of everything, just click F11-Post.
All disposal related FA Card / Depr.Book / Ledger entries will “disappear” after posting, actually, they move to FA Card / Depr.Book / Error Ledger entries together with reversing entries.
Dear Modris Ivans,
I think we need to tag the “sales balancing account” before we run the cancel entries function with proceeds on disposal. I think Mike has not tagged the Sales balancing account for the particular FA posting Group. after doing the cancel entries, the FA GL jounal will be updated and i think we need to use the Functions - Insert FA bal. Account. on the FA GL Journal to update the balancing account. then it will successfully post.
Once more - NO, you MUST leave BalAcc blank if FA in question was disposed using FA Journal.
If FA was sold create Sales Return Order an post it. This will create entries in FA ledger, too, reverting disposal entries, but leave Disposed = TRUE. To get rid if this, you must cancel these entries as described earlier, starting from bottom - first the one created by Credit Memo, then the one created by Sales Order…
updated - forgot to mention - yes, and in the second scenario Sales bal acc must be filled in, and Function Ins Bal Acc run.
Dear Mr. Modris,
Good day to you.
I need your valuable suggestion on this:
We disposed a vehicle but wrong it was posted to acquisition instead of disposal. Moreover, that wrong acquisition was posted by a JV/FA/11/12/01 number which was already used for depreciation of mold for the month of December. So after entering the vehicle entry the two entries got merged under same JV/FA/11/12/01 number. Now I want to reverse the entry for vehicle only as it has to be disposal instead of acquisition, but this entry is merged with depreciation of mold. So I want to know can I reverse the part entry related to disposal, as depreciation part if ok.
When I have already entered JV/FA/11/12/01 for depreciation, how can the system allow JV/FA/11/12/01 for another entry.
Looking forward to hear you.
Thank you so much for this tip. The method actually works.
For anyone who is not sure of the balancing account, if you use the same P&L account where the gains from the disposal was put, then the FA GL journal reverses all the entries.