Selecting assets for reversing the depreciation

This page allows you to search and select the asset/tag combination for reversal of depreciation. Tell me more.

Select the “Reverse Depreciation” link under the “Asset Depreciation Processing” business component.

The “Select Reversal Asset” page appears.

Enter the following fields:

Reverse Option	Use the drop-down list box to select the basis on which the depreciation has to be reversed. The reverse options available are
	By Asset – Indicates that the depreciation has to be reversed for an individual asset.
	By Process Run – Indicates that the depreciation has to be reversed for all the asset belonging to the process run number.

The system displays the “By Process Run” by default on launch of the page.

Process Run No.

Use the drop-down list box to select the number identifying the process run. The system lists all the run number with the “Confirmed” status. The system leaves the field blank by default on launch of the page. This field is mandatory if the “Reverse Option” is “By Process Run”.

Enter the following fields in the “Search Criteria” group box to search for an asset:

Depreciation Book Code	Use the drop-down list box to select the code identifying the depreciation book. The system lists all the depreciation books defined in the “Set Depreciation Book” activity of the “Asset Depreciation Setup” business component. The system leaves the field blank by default.
Finance Book	Use the drop-down list box to select the code identifying the finance book in which the entries are posted. The system leaves the field blank by default on launch of the page.
Depreciation Category	Use the drop-down list box to select the depreciation category. The system lists all the depreciation category defined in the “Create Depreciation Setup” activity of the “Asset Depreciation Setup” business component.
Asset No.	The code identifying the asset (Alphanumeric, 18).
	Help facility available.
Tag No.	The code identifying the asset tag (Alphanumeric, 18).
	Help facility available.
Asset Class Code	Use the drop-down list box to select the code identifying the asset class.
Cost Center	The code identifying the cost center in which the assets are logically grouped (Alphanumeric, 10). The cost center must have been defined in the “Create Cost Center/Unit” activity of the “Cost Setup” business component.
Analysis #	The code identifying the analysis number in which the assets are logically grouped (Alphanumeric, 10). The analysis number must have been defined in the “Create Cost Center/Unit” activity of the “Cost Setup” business component.
Subanalysis #	The code identifying the subanalysis number in which the assets are logically grouped (Alphanumeric, 10). The subanalysis number must have been defined in the “Create Cost Center/Unit” activity of the “Cost Setup” business component.

Note: The cost center must be mapped to the depreciation account code and the revaluation depreciation account.

Process Date	The date on which the depreciation was processed (Date Format). The system retrieves the depreciation details falling under the date specified here.
Financial Period Code	Use the drop-down list box to select the code identifying the financial period. The system lists all the open and provisionally closed financial period for the depreciation book selected. The system displays the earliest financial period by default on launch of the page.

Click the “Search” pushbutton to retrieve the details.

The system retrieves the following fields in the “Search Results” multiline:

Note: The system retrieves the asset / tag that are in “Confirmed” status.

Depreciation Category	The code identifying the depreciation category defined for an asset class.
Asset No.	The number identifying the asset whose depreciation details are to be reversed.
Tag No.	The number identifying the asset tag.
Depreciation charge	The depreciation charged on an asset.
Suspension Depreciation	The depreciation charged for an asset during the suspension period.
Depreciation Rule No.	The number identifying the depreciation rule applied on an asset for processing depreciation.

The system displays the following fields below the multiline:

Depreciation Total	The sum total of all the depreciation charged for an asset, in the mulitline.
Suspension Total	The sum total of the depreciation charged on an asset during the suspension period.

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

Reversal Document No.	The number identifying the reversal document. The document number is automatically generated by the system at the time of reversal based on the numbering pattern selected.
Status	The status of the reversal document.
Finance Book	The code identifying the finance book in which the reversal entries are to be posted. The system displays the finance book specified in the header as the default.

Enter the following fields in the “Reversal Information” group box:

Reversal Date	The date on which the document is to be reversed (Date Format). Mandatory.
Numbering Type	Use the drop-down list box to select the numbering pattern. All the numbering types defined in the “Create Numbering Class” activity of the “Document Numbering Class” business component.

Check the box in the “Select” column of the multiline to mark the depreciation for reversal.
Click the “Reverse” pushbutton to reverse the entries generated during creation.

Note: Atleast one row in the multiline must be marked for reversal.

Reversal date must be greater than or equal to the financial period end date with status “Confirmed” and greater than or equal to depreciation process upto date if status is “Partially Confirmed” for the selected Asset Tag combination.

The system generates the document number based on the numbering type selected. The system posts the accounting entries in the “Corporate” and “Tax” depreciation books. The system credits the revaluation reserve if the revaluation depreciation is an upward revaluation. The system updates the status of the asset/tag selected to “Unprocessed” and updates the status of the revaluation depreciation processing to “Unprocessed”.

To proceed, carry out the following

Select the “Reverse Depreciation” link at the bottom of the page to reverse depreciation for the selected asset/tag.
Select the “Accounting Information” link at the bottom of the page to view the accounting information.

Selecting assets for reversing the depreciation – An overview

The depreciation process run can be reversed, if the process run number is in “Confirmed” status. You can reverse the depreciation charged for an individual asset or for all the assets in the process run. If for an asset the class of which is mapped to the usage ‘’Capitalised Maintenance Expenses’’ the depreciation is reversed then the depreciation processed for ‘’Capitalised Maintenance Expense’’ will also be reversed. You can retrieve the asset/tag combination by carrying out the search using the code identifying the depreciation book, the code identifying the finance book, the depreciation category, the number identifying the asset and tag, the code identifying the cost center, the date on which the depreciation was processed and the financial period.

The system retrieves the details based on the search criteria. The system computes the depreciation total and the suspension total. You can provide the reversal information like the reversal date and the numbering type. The system generates the document number based on the numbering type selected. The system posts the accounting entry in the depreciation book. The system credits the revaluation reserve if the revaluation depreciation is an upward revaluation. The system updates the status of the asset/tag selected to “Unprocessed” and updates the status of the revaluation depreciation processing to “Unprocessed”.