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Reply from Ron Roberts on Sep 11 at 1:40 PM Post an offsetting entry to the project (take project YTD total and post single credit amount). Then settle the project to fixed asset. This should zero out asset acquisition cost on the fixed asset. Next, change the settlement rule for the project so that it settles to AUC. Now reverse the offsetting entry and settle the project to the AUC.
Asset accumulated depreciation should reverse to zero the next time you run depreciation posting.
| | | ---------------Original Message---------------
From: MONICA SANCHEZ
Sent: Thursday, September 11, 2014 12:51 PM
Subject: Project booked as Fixed Asset instead of asset Under Construction
Dear Experts,
We have an Implementation Project which we have been paying a provision $$ for It but this Implementation has not been done yet until next year, but we have been paying for it.
Instead of being booked as an asset under construction It was booked as a fixed asset .
Now we have the idea but do not know how, to reverse, the depreciation we already have for this asser since it was booked and put it as AUC. Thanks for your support ! |
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