cancel
Showing results for 
Search instead for 
Did you mean: 

Low value asset

Former Member
0 Kudos
54

Hello Friends,

Our client posted an asset in High value , now they need to move that asset to low value,

FYI->The asset is 6 months old, pls suggest

Regards

Revathi

Accepted Solutions (0)

Answers (1)

Answers (1)

shinas_rh
Participant
0 Kudos

Hi,

Low Value Asset Mean those Asset will be depreciated immediately.

That mean the very same month of Acquisition, that will be fully Depreciated.

Now your Asset is 6 month Old and 6month depreciation Cycle also Over.

One Option is, Asset Scrapping by keeping Asset Value date as Acquisition date. Then all Posted depreciation will reveres on the Next Depreciation Cycle.

Do Asset Acquisition with Offsetting Entry and Select Offsetting GL as Scrapping GL.

Regards

Shinas