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ReportHello:
Here's the scenario.
The end user adds a fixed asset with an Acquisition Date of 03/30/2018.
Afterward, the end user runs depreciation on this asset with a Depreciated To Date of 03/31/2018.
The end user, then, realizes that the Acquisition Date should have been 02/01/2018.
So, the end user changes the Place in Service Date in the Asset Book window to be 02/01/2018 and chooses "Reset Life" when prompted.
Continuing, the end user posts this fixed assets data to the general ledger and posts the resulting batch in the general ledger.
Is depreciation in the general ledger "doubled up" for the fact that the end user ran one day of depreciation for 03/31/2018, back when the Acquisition Date was incorrectly set for 03/30/2018? Or, does running Reset Life correct this, in both the fixed assets subledger and the general ledger?
I'm simply wondering if the first step should have been to reverse that one day of depreciation using the Depreciate One Asset window or does running Reset life essentially overwrite and correct that one day of depreciation without doubling up depreciation in the general ledger.
Thank you!
John
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