Revert CIP asset capitalizations in bulk—Fixed Assets Management

You can use the import service to revert multiple CIP asset capitalizations at once.

If you capitalize an asset by mistake, you can revert the capitalization. This lets you make corrections such as changing the capitalization date or adding additional costs.

Reverting an asset capitalization does the following:

Deletes the related capitalization journal entry.
Changes the asset's state to Construction in progress.
Removes the capitalization record from the asset's CIP tab.
Allows additional costs to be added.

Before you begin

Verify the following:

The asset is active and in the Ready for review state.
No depreciation, cost adjustments, transfers, or partial disposals occurred after the capitalization date. Revert any subsequent activity first.

Step 1. Download the template and add data

Download the template file.
Open the file.
Add the IDs of the assets that you want to revert.
For the State column, enter Construction in progress.
Save the file.

Step 2. Import the file

Subscription	Fixed Assets Management
Regional availability	All regions
User type	Business
Permissions	Fixed Assets Management Asset: List, View, Edit
Configuration	Construction in Progress (CIP) must be enabled in Fixed Assets Management Configuration. Correction treatment must be set to Revert in Fixed Assets Management configuration.

Go to Fixed Assets Management > All > Assets.
Select Import.
Select the Update tab.
Upload your file.
Verify that the fields are mapped correctly.
Learn about mapping fields.
Select Complete.
If there are any errors, review and correct your data.
Learn about fixing errors in the import service.
Select Import.