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Reverse asset disposals processed in previous financial year

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Posted on by Mxmx

I would like to reverse some Fixed Asset Disposals processed in last financial year which is already closed. The "reverse transaction" is greyed out, and I tried to post a manual adjustment to P/L (Gain/loss on sale of asset) but the P/L won't reconcile to the "Fixed Asset Disposals" Report generated by AX then. We use Dynamics AX 2012 and the disposal is done through fixed asset journal. Does anyone know how to resolve this? Thanks.

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Ludwig Reinhard Microsoft Employee on at

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RE: Reverse asset disposals processed in previous financial year

Hello Mxmx,

I would recommend that you talk to your auditors and accountants first before trying to correct a transaction in a previous year that is already closed and for which financial statements have already been created and audited.

You can make the correction in the current year.

Doing it in the previous year would require two things:

1. Technical help to re-open the closed period (you can't do that yourself from the user interface)

2. An approval from your finance colleagues that you are still allowed to make changes to the previous year data.

Best regards,

Ludwig
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Junaid Idrees on at

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RE: Reverse asset disposals processed in previous financial year

Hi Mx,

The "reverse transaction" button is disabled because Fixed Assets and Accounts Receivable modules are involved (Sub ledger module restriction). Instead of doing manual adjustment. I suggest you to create reverse posting profile FA sale and change the accounts direction.

Please refer to the post below on the same issue and suggested work around solution:

community.dynamics.com/.../515769