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Fixed Assets - Disposal

Former Member
0 Kudos
390

Hi experts,

Asset ABC123 has depreciated for 11months, for e.g. 410*11

When I did a retirement - scrapping(partial), how come the amount I have depreciated for 11 months ( in accumulated depreciation) is debited(reversed)? Is giving me a hell in this add-on, my account balance is now wrong.

Thank you.

Regards,

Lim

Accepted Solutions (0)

Answers (1)

Answers (1)

Former Member
0 Kudos

Hi Lim,

Have those Assets depreciation method been changed before?

Thanks,

Gordon

Former Member
0 Kudos

Hi Gordon,

Same depreciation method, straight-line. No one has changed the depreciation method before.

Thank you.

Regards,

Lim

Former Member
0 Kudos

There are options in the Depreciation Area (I think) on how to deal with depreciation on acquisition and on retirement, these settings will depend on the laws in your country.

In my localisation, you cannot claim depreciation in the year of retirement so we use this setting.

Check what settings you have in this, then you can reverse the retirement, and the journal entry, and reprocess it