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Reset depreciation and revalue assets of acquired company.

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Posted on by smith5ba

What is the best way to revalue Fixed assets and reset depreciation for an acquired company? We have G/L integration turned on, but had posted G/L entries previously in order to close our books. Now we want to fix the Fixed asset subledgers to match the G/L.

Thanks,

Ben

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JAngle 159 on at

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To alter only the FA ledger go to the depreciation book and turn off integration. You can then use the Fixed Asset Journal to make postings. No balancing entry is needed now but the same entry types are available.
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Hello,

Adding to Josh's reply on pictures. To make sure your G/L Account s balance, per Fixed Asset Posting Group reconcile, go to the Depreciation Book and CLEAR the Integration flags (easier to do them all even if the entries are just to record additional depreciation or acquisition).

Go to Fixed Asset Journal and record the sub-ledger activity.

After you post the FA Journal and reconcile FA to GL go back and turn on the integration in the Depreciation Book.

Thanks,

Steve