Resersing the asset record

Reversing the asset record

This page allows you to reverse the assets, which are authorized. You can specify the reason for reversing the asset. You can view the tag details also before reversing. This page also allows you to search and select the assets for reversal. Only the assets, which are in “Active” status, can be reversed. You can carry out the search using the finance book, asset class, asset proposal, capitalization number, the document type, document number, the date on which the assets were capitalized and the asset number. The system retrieves the assets, which are in “Active” status for reversal.

Select the “Reverse Asset” link under the “Asset Capitalization” business component.

The “Reverse Asset Record” page appears.

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

Reversal Document #

The number identifying the asset reversal document.

Enter the following in the"Reversal Information" group box:

Reversal Type

Use the drop-down list box to specify the type of the reversal. You can select from “Asset Tag” or “Capitalization Doc”.

The system displays the following:

Status

The status of the reversal document. The reversal document once generated will be in ‘Authorized’ status.

Enter the following:

Transaction Date	The date on which the assets are reversed (Date Format). Mandatory. The transaction date must be greater than the capitalization date. The system displays the current server date by default.
Finance Book	Use the drop-down to select the code identifying the finance book to which the document details are posted. The system lists all the finance books mapped to the login organization unit in the ascending order for selection. The finance book must have been defined in the “Create Finance Book” activity of “Organization Set Up” business component. The system displays the first value by default on launch of the page.
Numbering Type	Use the drop-down list box to select the numbering type for the login organization unit and the “Asset Reversal” 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.
Remarks	Any remarks pertaining to the reversal of an asset (Alphanumeric, 255).

Click the “Reverse” pushbutton provided at the bottom of the page to reverse the selected asset.

Note: You can perform reversal of the assets only for the records having similar asset number or capitalization number.

You cannot perform reversal of the assets separately, if there exists subsequent capitalization entries for the same asset/tag combination, where as the latest capitalization alone can be reversed separately.

For example, If C1 and C2 are two different capitalization transactions recorded on 01/01/06 and 15/01/06, for an asset/tag combination, where C1 represents the asset creation and C2 represent the amendment of the asset, then C1 alone cannot be reversed. For reversing C1, either C2 must be reversed first or both C1 and C2 must be reversed.

Enter the following fields in the “Search Criteria” group box to search for the assets.

Document Type.	Use the drop-down list box to select the document type. You can select from the following options: “Component Work Order”, “Direct Invoice”, ”Engine Work Order”, Facility Work Order”, ”Goods Inward”, ““Make Work Order’, Miscellaneous Work Order”, Order Based Invoice, , “Piece Part Work Order”, and “Project Work Order”. “The system retrieves document type if exists, in the ascending order and displays the first value by default on launch of the page.
Document No.	The number identifying the document (Alphanumeric, 18). Enter the number in full or specify it partially using the “*” character. The system retrieves the assets whose document number is similar to the value entered here. Leave this field blank to retrieve all the assets, irrespective of the document number.
Proposal No.	The number identifying the asset proposal based on which the capital purchase order / invoice has been raised (Alphanumeric, 18). The asset proposal must have been defined in the “Create Asset Proposal” activity of the “Asset Planning” business component. Leave this field blank to retrieve all the assets, irrespective of the proposal number. Help facility available.
Capitalization Date From	The starting date in the range of capitalization dates from which the asset details must be retrieved (Date Format). The system lists all the assets that are capitalized later than this date. If this field is left blank, the system considers the date from which the asset details are to be retrieved as 1st Jan 1900.

Note: The date entered here must be earlier than the date entered in the “To” field.

If this field is left blank and the “To” field is entered, then the system retrieves the assets starting from the first asset till the assets capitalized on the date specified in the “To” field.

The ending date in the range of capitalization dates until which the details must be retrieved (Date Format). The system lists all the assets that are capitalized earlier than this date.

If this field is left blank, the system considers the dates until which the details are to be retrieved as the system date +100 years.

Note: If this field is left blank and “Capitalization Date From” field is entered, then the system retrieves the assets raised on the date specified in the “Capitalization Date From” field till the last asset.

Capitalization No.	The unique number identifying the asset capitalization (Alphanumeric, 18). Leave this field blank to retrieve all the assets, irrespective of the capitalization number..
Asset No.	The number identifying the asset (Alphanumeric, 18).. The system retrieves the assets whose number is similar to the value entered here. Ensure that the asset number entered here is a valid asset in ‘Active’ status. Help facility available
Tag No.	The number identifying the asset tag.
User ID	The login ID of the user who created the asset (Alphanumeric, 20). Leave this field blank to retrieve all the assets, irrespective of the user.

Note: Ensure that a value is entered in either “Asset No’ field or “Capitalization Date From” and ”To” field.

Click the “Search” pushbutton to retrieve the asset details.

The system displays the following in the “Search Results” multiline:

Note: The system retrieves the assets in “Active” status based on the search criteria.

Finance Book	The code identifying the finance book in which the asset entries are posted.
Asset Class Code	The code identifying the asset class.
Capitalization Date	The date on which the assets are capitalized.
Capitalization No.	The number identifying the asset capitalization.
Asset No.	The number identifying the asset.
Asset Description	The description pertaining to the asset.
Tag #	The number identifying the asset tag.
Tag Description	The description pertaining to the asset tag.
Tag Cost	The cost of the asset tag.
User ID	The login ID of the user who created the asset.

Note: Ensure that atleast one record is available in the multiline.

Check the box in the “Select” column of the multiline to mark the assets for reversal.

The system performs the following:

Generates a unique reversal number.
Updates the status of the reversal document as “Authorized”.
Updates the asset cost against the pending capitalization amount of the source document based on which the capitalization was done.,.
Writes back the tag cost from the utilized amount in the asset proposal (in the “Asset Planning” business component.) associated to the asset tag getting reversed.
Updates the committed amount in the acquisition proposal (in “Asset Planning” business component), which is associated to the source document based on which the asset was capitalized.To proceed, carry out the following

To proceed, carry out the following

Select the “View Document Details” link provided at the bottom of the page, to view the document details.
Select the “Attach Notes” link provided at the bottom of the page to record observations.
Select the “Accounting Information” provided at the bottom of the page to view the posting details of the reversal of asset capitalization.