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FA - change the accumulated depreciation account?
Posted: Wed Jan 23, 2008 9:27 am
by rajasekhar_mutyala
hai
i have submitted depreciation for three months. now my client says that they want to change the accumulated depreciation account.
once depreciaton is submitted we cannot alter the accounts.
is there any solution.
thanks
sekhar/[:p][:p]
Posted: Wed Jan 23, 2008 9:36 am
by seneeraj
Hi sekhar,
Reverse the Depriciation and then create new account set this account with ur depriciation account and then re-run the Depriciation
Bye
Neeraj Bhatia
Posted: Thu Jan 24, 2008 9:20 am
by raviteja.manchu
Hi,
make the current cost of the asset to Zero,then the entries created before will be reversed retaire that assets. and add then new.
Hope this will you
Regards,
Ravi manchu.
Posted: Thu Jan 24, 2008 10:22 pm
by eswar_chinni
how we reverse the depreciation. please tell me the procedure and setups
Posted: Fri Jan 25, 2008 1:13 am
by seneeraj
[quote]how we reverse the depreciation. please tell me the procedure and setups
<i><div align="right">Originally posted by eswar_chinni
Posted: Fri Jan 25, 2008 8:46 am
by eswar_chinni
Thanks for your answer, but still i have a doubt, for example
accounting entries transfered from assets to gl is that possible to run roll back depreciation for the closing periods also.
Posted: Tue Jan 29, 2008 9:17 pm
by chicagous
If you have run the final depreciation and closed the period for that book, then you cannot do anything. You may do depreciation adjustment in the next period.
Posted: Thu Jan 31, 2008 1:31 pm
by wasi
Hi...
As you mentioned..You already ran depreciation for 3 months. Know your client wants to change the accu depren account.
I believe the 3 months FA Journal entries were posted in GL. Even dough your 3 months FA Periods are not closed.
Once you post FA Journal entries in GL then if you try to run Roll Back Journal entries the concurrent program will eroor out.
Roll Back journal entries concurrent program will complete normal only when you don't post any FA Journal entries in GL.
Note - If your depreciation periods for 3 months are not closed and 3 months JE's of FA are not posted in GL then you can roll back JE's and Roll Back Depreciation then you can able to change the Accum Deprn account.
In your case you can :1 - If management want the depreciation amout which is already posted in the present accm deprn account to be transfered to the new Accum Derpn account then Create a Manual Journal entry in GL.
2. As you cannot change the Accum Deprn account on Asset Category once you ran deprn .
Disable the present category and Create a new one with the new Accoum Deprn Account.