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Reversing transactions for fixed asset journals

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Posted on by Chocolate_Pizza

Hi everyone

This is a question about the Fixed Asset Journal module.

I have a user who wants to reverse lines in a Fixed Asset Journal

I would have thought this should be pretty easy to do but I can't find anywhere to do a reversal on the Fixed Asset Journal lines screen.

I would add a picture but due to data sensitivity, I can't do this.

However, the screen is accessible via Fixed Assets > Journal Entries > Fixed Assets Journal

Thanks

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Ludwig Reinhard Microsoft Employee on at

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Hi Chocolate Pizza,

Please select the fixed asset, select the book to which the transaction was posted and there you should find the reversal button.

Best regards,

Ludwig

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Chocolate_Pizza 73 on at

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Hi Ludwig

When I click the reversal button, I get the message "The transaction for voucher FA0....... cannot be reversed". No more information than that. Have you got any ideas where I could go to explore why the reversal is a problem?

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Ludwig Reinhard Microsoft Employee on at

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Hi Chocolate Pizza,

There are some transactions that cannot be reversed. Sometimes this is because items are involved in a transaction, other times specific split postings or tax related transactions prevent the automatic reversal.

In this case you have to post a manual correction.

Best regards,

Ludwig

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Sheela Ningappa Microsoft Employee on at

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Hi,

Please see the documents below for reference:

docs.microsoft.com/.../reverse-a-transaction

docs.microsoft.com/.../reverse-journal-posting

docs.microsoft.com/.../reverse-vendor-payment

1. The posting date cannot be before the original posting date or in a closed period.

2. Payments that are made electronically can't be reversed after they have been posted.

3. If a transaction couldn't be reversed BEFORE enabling the feature, it cannot be reversed AFTER enabling the feature.

4. The feature does not reverse all types of transactions. It only allows us to reverse more than 1 at a time and from more locations.

5. What we can or cannot reverse, based on my testing, allows us to reverse transactions with following setup for account and offset account: ledger-ledger, Customer-Ledger, Vendor-ledger.

I hope this helps.

Regards,

Sheela

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