Dear Friends
One of my clients uploaded 2000 assets 2 years ago as opening asset. By this time they already depreciated the entire assets monthly basis. In addition they procured 500+ new assets. Now they have realized and want to delete all the assets those they have uploaded as opening and newly created. I mean they want to start Fixed Asset newly. How can I do it?
If you have any alternative solution, please help me.
Thanks
Makshud
How to Delete an Asset that has been Depreciated
You need to discard current Assets setup and create new one while in GL manually adjust using JV's (point 5 below). Once FA setup is done you have to upload from start (2 years back) but you may have following challenges,
1 - You will have to open old periods.
2 - Link with AP invoices of new Assets.
3 - Already printed reports (hard copies) I mean audited numbers.
4 - You will have to run depreciation for each old period and close.
5 - Use a clearing account to upload data which can be knocked off with existing GL balances.
6 - Check with your Tax consultants.
If your situation or problem is different to the one explained here then let us know.
1 - You will have to open old periods.
2 - Link with AP invoices of new Assets.
3 - Already printed reports (hard copies) I mean audited numbers.
4 - You will have to run depreciation for each old period and close.
5 - Use a clearing account to upload data which can be knocked off with existing GL balances.
6 - Check with your Tax consultants.
If your situation or problem is different to the one explained here then let us know.
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