How to Reverse Disposal Fixed Asset Ledger Entries in Business Central

 The main point for corrections in Fixed Assets is the usage of function “Cancel Entries” (Report 5686)

“Cancel Entries” can be started from the FA Ledger Entries.

This function copies the fixed asset ledger entries that you want to cancel to a journal. 

If the fixed asset(s) are integrated with the general ledger, the program transfers the entries to the FA G/L journal. Otherwise, the program transfers the entries to the FA journal. You can then post the journal or adjust the entries before posting, if necessary. The fixed asset ledger entries are then removed from the FA Ledger Entries window and are posted to the FA Error Ledger Entries window.

The steps below should be followed in using the Cancel Entries function to correct or reverse your Fixed Asset ledger entries:

1. Navigate to the FA Ledger entries page

2. Filter the document no. of the Disposal entries you would like to reverse

Note: You need to select and Cancel the Depreciation Entries first before the Acquisition Cost.

3. Select all lines that need to be reversed and select Actions-Functions-Cancel Entries.



4. If you would like to post the correcting entries using a different posting date, enable the Use New Posting Date and enter the posting date on the field provided. Skip this step if you want to use the same posting date on the correcting entries.



5. Once you click OK a message will prompt saying the entries are now transferred to the FA G/L Journal

Now go to the Fixed Assets G/L Journal to review and post the reversal entries. Ensure balancing account is specified if required.

After posting, the cancelled entry will no longer be shown in the FA ledger entries for each Asset but you may review the reversal entries from the G/L Registers or on the Error Ledger Entries which can be viewed through the Fixed Asset card, shown below.

Note: When using the Use New Posting Date function, ensure that the Use Same FA+G/L Posting Date is disabled in the Depreciation Book Card used in the Assets, otherwise, you will not be able to post the journal.


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