Reverse a partial disposal—Fixed Assets Management

You can reverse a partial disposal to correct mistakes, such as using the wrong disposal date or disposal amount. Reversing preserves posted accounting activity by creating offsetting journal entries instead of deleting existing journal entries.

Reversing a partial disposal does the following:

  • Creates a reversal journal entry to offset the original disposal posting. For depreciable assets, a separate reversal journal entry is created for each depreciation schedule.

  • Retains the original disposal record in the Disposal details section, marks it as reversed, and records the reversal date.

  • For depreciable assets, restores the remaining depreciation for each depreciation schedule to its previous value before the disposal.

  • For depreciable assets, restores depreciation entries in the Not posted state to their previous amounts before the disposal.

  • Assets with reversed disposals cannot be deleted.

  • Partial disposals inherited from an asset split cannot be reversed.

  • Assets with reversed disposals cannot be moved back to the Ready for review state using the Revert place in service action.

Before you begin

Verify the following:

  • The asset is in the In service state.

  • The partial disposal that you want to reverse is the most recent disposal. To reverse an earlier disposal, first reverse each disposal after it, starting with the most recent.

  • No depreciation, transfers, or cost adjustments occurred after the partial disposal date. Reverse any subsequent activity first.

  • The asset is active.

Reverse a partial disposal

SubscriptionFixed Assets Management
Regional availability

All regions

User typeBusiness
Permissions

Fixed Assets Management

  • Asset: List, View, Edit

ConfigurationCorrection treatment must be set to Reverse in Fixed Assets Management configuration.
  1. Go to Fixed Assets Management > All > Assets.

  2. Find the asset with the partial disposal that you want to reverse.

  3. Select the asset's name to view it.
  4. Select the Disposals tab.

  5. Find the most recent partial disposal.

    Partial disposals are identified by a checkmark in the Partial disposal column.
  6. At the end of the row, select More actions > Reverse.

  7. Select a Reversal date.

    The reversal date must meet the following requirements:

    • Be on or after the partial disposal date.

    • Be before the next scheduled depreciation posting date.

    • Be in an open period.

  8. Select Reverse to confirm.

Next step: View disposal journal entries.