Reversing asset

This page allows you to reverse the assets, which are authorized. The system displays the asset information details. You can specify the reason for reversing the asset. You can also view the tag information before reversing.

The system reverses the accounting entry generated during authorization of asset. The system deletes the tag details from the asset. The system generates a unique reversal number. The depreciation charged for the current financial year will be written back. The tag cost will be written back against the utilized amount for every asset proposal in the “Asset Planning” business component. The capitalization amount of an asset will be written back to the pending capitalization amount.

Select the “Reverse Asset” link at the bottom of the “Select Asset” page.

The “Reverse Asset” page appears.

The system displays the following in the “Doc. Information” group box:

Doc. No.	The unique number generated by the system after amendment. This number is generated at the time of reversing the asset based on the numbering type selected.
Status	The status of the asset.
Finance Book	The code identifying the finance book in which the asset details are posted.

Enter the following fields:

Transaction Date	The date on which the assets are reversed (Date Format). Mandatory. The transaction date must be greater than the capitalization date.
Numbering Type	Use the drop-down list box to select the numbering type for the login organization unit and the “Asset Capitalization” transaction type. The numbering types must have already been defined in the “Create Numbering Class” activity of the “Document Numbering Class” business component and must be in “Active” status. The system displays the first value by default on launch of the page.

The system displays the following in the “Asset Information” group box:

Asset No.	The number identifying the asset.
Asset Desc.	The description pertaining to the asset description.
Asset Class Code	The code identifying the asset class.
Cost Center	The code identifying the cost center.
Asset Group Code	The code identifying the asset group.

Enter the following field:

Remarks	Any remarks pertaining to the reversal of an asset (Alphanumeric, 255).
	Zoom facility available.

The system displays the following in the “Tag Information” multiline:

Tag No.	The number identifying the asset tag.
Tag Desc.	The description pertaining to the asset tag.
Depreciation Category	The code identifying the depreciation category.
In Service Date	The date on which the assets are put to effective use.
Business Use %	The usage of the asset in the business.
Tag Cost	The cost of the asset tag.
Asset Location Code	The code identifying the asset location, where the assets are going to be physically located.
Inventory Cycle	The frequency in which the assets are to be verified.
Salvage Value	The scrap value of an asset.
Manufacturer	The company or the maker who manufactured the asset.
Barcode No.	The barcode number of the asset.
Serial No.	The serial number of the asset.
Warranty No.	The number identifying the warranty issued by the manufacturer.
Model	The model number of an asset.
Custodian	The name of the person who is supervisor of the asset.

Click the “Reverse Asset” pushbutton to reverse the asset.

The system reverses the accounting entry generated during authorization of asset.
The system deletes the tag details from the asset.
The system generates a unique reversal number.
The depreciation charged for the current financial year will be written back.
The tag cost will be written back against the utilized amount for every asset proposal in the “Asset Planning” business component.
The capitalization amount of an asset will be written back to the pending capitalization amount.

To proceed, carry out the following

Select the “View Document Details” link at the bottom of the page to view the document details.
Select the “Attach Notes” link at the bottom of the page to record observations or comments regarding the reversal of the asset.
Select the “Accounting Information” link at the bottom of the page to view the posting details of the Reversal of Asset Capitalization.
Select the “Collaborate” link at the bottom of the page to record or to view the observations or comments or discussions regarding the document.