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We need to “decapitalize” an asset that had been capitalized and settled

Former Member
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138

Hi All,

I need your assistance. We need to “decapitalize” an asset that had been capitalized and settled earlier in the year

What we need to do is:

·         Go back to the original date that the asset was capitalized.

·         Reverse out the depreciation that was taken on that particular asset.

·         Take the dollars that were originally designated as the cost basis of the asset and reclass them to a balance sheet accrual account.

Please let me know what we can do to adjust this.

Thanks.

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Answers (1)

Answers (1)

Muralinag14
Active Contributor
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Assign dep. key 0000 No depreciation and no interest to your asset master and run AFAB in repeat mode for this asset. So, the depreciation posted will be reversed. Next go to AB08 to reverse the transactions which happend for the asset.