Deleting and Reclassifying a Fixed Asset

  • Deleting and Reclassifying a Fixed Asset

    Posted by DSC Communities on March 22, 2017 at 12:00 pm
    • Andrew Alexander

      Member

      March 22, 2017 at 12:00 PM

      Hello,

      I have a situation right now, we are trying to delete a Fixed Asset from our register to move it to a different account. Would using the delete function affect our Asset register when we run it? Aside from the asset value not showing up. Thank you for your insights on this situation.

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      Andrew Alexander
      Mintel
      Chicago IL
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    • Paul Gilmore

      Member

      March 23, 2017 at 8:16 AM

      Delete leaves a lot of manual cleanup in General Ledger as the delete does not reverse any prior posted entries.  Have you already deleted the Asset Book record?  And the General Asset record? 
      what has been done so far?

      a better way of handling the necessary changes might be to TRANSFER the asset.  Transfer capability is in FINANCIAL | TRANSACTIONS | TRANSFER

      Transfer allows the transfer, with any as-of date (including history), where the system will calculate and create the correcting entries and, if the correct options are used, will send the entries to GL as part of the FA Posting batch in GL.
      Transfer does not allow the change in ASSET CLASS, but by changing the Asset Class in the General Asset Card, the system will still allow rolldown and recalculate options which will create the correcting entries to be included in the FA Posting batch in GL.

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      Paul Gilmore
      Logan Consulting
      Chicago IL
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    DSC Communities replied 7 years, 4 months ago 1 Member · 0 Replies
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