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Write off current year depreciation

former_member188789
Participant
0 Kudos

Hi

We have a scenario where the depreciation posted for a current year acquired asset is to be reversed.

The issue is that although we can change the dep key to 0000 and repeat the depreciation run, the depreciation will be reversed, but in would be in the closed previous period.

But the previous periods cannot be opened and the posted depreciation value is to be reversed in the current open period

Please let me know if any suggestions

Regards,

Accepted Solutions (1)

Accepted Solutions (1)

ajaycwa1981
Active Contributor
0 Kudos

Hi Charmz

Preeti is right

You have 2 options

1. Change the Dep Key to 0000 and Run AFAB in REPEAT mode. In this case, Dep of P1-4 will be reversed in P4

2. If you run AFAB in Planned Mode in P5, Depreciation of P 1-5 will be reversed in P5, in this case.


Regards


Ajay M

Answers (1)

Answers (1)

Former Member
0 Kudos

hi ,

you change the dep key 000 and run the deprecation as normal for current year . System will recalculate the depreciation and reverse in the current month .

you do not need to open the Period and do not need to do repeat run as this is in same fiscal year ,

former_member188789
Participant
0 Kudos

Hi Preeti

I guess ur mistaken, the dep will be posted as on the last date of the month of the each previous period. this is the standard behavoir

Former Member
0 Kudos

Let me give you example . ..

You have asset posted with dep till period 1 to 6 and in Period 7 you came to you know its wrong .

So during Period 7 you changed the dep key 0000 in asset master and then at end of 7 month you run the depreciation like  on 31.05.2016 . System will reverse the depreciation in period 7 not in period 1 to 6 .

that 's an standard behavior .